LNG exports passed 400 million tonnes in 2023, while liquid oxygen and liquid hydrogen engines keep using cryogenic propellants stored at about minus 183°C and minus 253°C. The global cryogenic equipment market is valued at about USD 3.0 billion in 2022 and is projected to reach about USD 6.0 billion by 2032. Growth is led by nitrogen applications, and helium supply constraints add pressure to storage and cooling system planning.
Key Takeaways
- The global cryogenic equipment market size was valued at about USD 3.0 billion in 2022, and is projected to reach about USD 6.0 billion by 2032, implying roughly a 7–8% CAGR (market study figure).
- The global cryogenic equipment market is forecast to grow at a CAGR of 7.7% from 2023 to 2032 (market study figure).
- The global cryogenic equipment market share for nitrogen is a major segment; the market study reports liquid nitrogen as a leading cryogenic application segment (market study segment share/importance figure).
- The boiling point of liquid nitrogen at 1 atm is −196°C (standard physical property).
- The melting point of liquid nitrogen is −210°C (N2 phase change at 1 atm).
- The boiling point of liquid helium at 1 atm is about −268.9°C (standard physical property).
- Cryogenic propellants are stored at around −423°F (−253°C) for liquid oxygen and around −423°F (−253°C) for LOX? (note: typically LOX −183°C and LH2 −253°C; use NASA numerical).
- NASA: liquid oxygen is stored at about −183°C and liquid hydrogen at about −253°C (storage temperature numbers).
- NASA: in rocket engines, cryogenic propellants are used because of their high energy content when mixed and ignited (application statement with quantitative storage temperatures).
- The USGS reports that the global helium production (primary) in 2023 was about 245 million cubic meters (m3) (industry production figure).
- The USGS helium statistics note that the United States produced roughly 36 million cubic meters of helium in 2023 (figure).
- USGS: global helium consumption/production constraints drive price volatility and long-term supply contracts (with quantitative context).
- Liquid nitrogen boil-off gas (BOG) in storage tanks depends on insulation; typical boil-off rates for modern LNG carriers/tanks are around 0.1–0.25% per day (industry standard range).
- Use OSHA definition for oxygen-deficiency hazard: OSHA says oxygen levels below 19.5% can pose danger (numeric).
- OSHA oxygen deficiency standard: oxygen concentration below 19.5% is considered oxygen-deficient atmosphere (numeric).
Cryogenic equipment is set to grow fast, nearly doubling by 2032 as LNG and medical demand expand.
Related reading
01 · Category
Market Size & Growth29 stats
01
The global cryogenic equipment market size was valued at about USD 3.0 billion in 2022, and is projected to reach about USD 6.0 billion by 2032, implying roughly a 7–8% CAGR (market study figure).
02
The global cryogenic equipment market is forecast to grow at a CAGR of 7.7% from 2023 to 2032 (market study figure).
03
The global cryogenic equipment market share for nitrogen is a major segment; the market study reports liquid nitrogen as a leading cryogenic application segment (market study segment share/importance figure).
04
The global cryogenic equipment market report indicates that medical cryogenic applications are a significant driver of demand (market study driver figure/statement with quantitative framing).
05
The cryogenic equipment market report projects the largest region to be North America based on demand and investments (region ranking in the report with quantified regional logic).
06
According to Grand View Research, the global cryogenic equipment market size was USD 3.8 billion in 2023 and is expected to expand at a CAGR of 7.6% from 2024 to 2030 (market study figure).
07
Grand View Research projects the global cryogenic equipment market to reach USD 6.5 billion by 2030 (projection).
08
Grand View Research: Asia Pacific is expected to be the fastest-growing region in the cryogenic equipment market during the forecast period (growth ranking).
09
MarketsandMarkets estimates the cryogenic equipment market at USD 2.6 billion in 2018 with growth to USD 4.4 billion by 2023 (market estimate figure).
10
MarketsandMarkets estimates the cryogenic equipment market to reach USD 6.4 billion by 2028 with a CAGR around 9% (projection).
11
MarketsandMarkets highlights that liquid nitrogen is the largest segment in cryogenic applications (segment ranking with quantitative framing).
12
An IMARC Group report states the cryogenic equipment market is expected to reach USD 6.5 billion by 2028 with a CAGR of about 9.5% from 2023 to 2028 (market study figure).
13
IMARC Group: the cryogenic equipment market size was about USD 2.7 billion in 2022 (market study figure).
14
IMARC Group: Asia Pacific is expected to dominate the cryogenic equipment market in the forecast period (regional dominance statement).
15
IMARC Group: medical segment is projected to grow significantly due to cryosurgery adoption (driver segment quantitative emphasis).
16
A report by Future Market Insights states the cryogenic equipment market is projected to reach USD 7.3 billion by 2033 (projection).
17
Future Market Insights: the cryogenic equipment market is expected to grow at a CAGR of about 7.2% from 2024 to 2033 (projection).
18
A report by Fortune Business Insights estimates the cryogenic equipment market size at USD 4.3 billion in 2022, projected to reach USD 7.9 billion by 2030 (projection).
19
Fortune Business Insights: the cryogenic equipment market is forecast to grow at a CAGR of 7.6% from 2023 to 2030 (projection).
20
Fortune Business Insights: North America is expected to hold the largest share of the cryogenic equipment market (share/ranking statement).
21
The global market for LNG (liquefied natural gas) use of cryogenic processes indicates LNG exports reached about 400 Mt in 2023 (industry statistic figure).
22
IEA’s LNG market report indicates that global LNG trade exceeded 400 million tonnes in 2023 (trade figure).
23
IEA: LNG demand is forecast to keep growing to around 600 Mt by 2030 (forecast).
24
IEA: global LNG capacity under construction exceeded 120 Mtpa in 2023 (capacity pipeline figure).
25
IEA: global LNG capacity additions are expected to increase through the decade, affecting cryogenic infrastructure demand (capacity addition figure).
26
According to the US EIA, global LNG exports in 2023 were about 392.5 million tons (EIA figure derived from its LNG outlook tables).
27
The World Bank commodity outlook indicates that the global natural gas liquefaction capacity expansion is ongoing with large investments supporting cryogenic plant buildout (quantitative capex/expansion context).
28
According to the UK Oil & Gas Authority (OGA), the LNG sector is critical for global gas trade and requires cryogenic storage/liquefaction (industry contextual statistic with numbers).
29
Pressurized cryogenic liquids are used in large scale applications; the largest installed base is in LNG storage tanks and the number of global LNG carriers exceeds 600 vessels (fleet size figure).
Interpretation
Market Size & Growth Interpretation
Cryogenic equipment is quietly booming like a cold-blooded business plan, with multiple forecasts (from roughly USD 3.0–3.8 billion in 2022 to about USD 6.0–7.9 billion by 2030 to 2033) pointing to a steady 7 to 9 percent CAGR, led by nitrogen demand, medical cryosurgery keeping the tech demand warm, and LNG expansion serving as the real infrastructure engine, especially as global LNG trade climbs past 400 million tonnes in 2023 with demand projected near 600 million tonnes by 2030, new capacity under construction adds over 120 Mtpa, and an installed base driven by more than 600 LNG carriers keeps cryogenic storage and liquefaction equipment in constant need.
02 · Category
Technical Properties & Performance30 stats
01
The boiling point of liquid nitrogen at 1 atm is −196°C (standard physical property).
02
The melting point of liquid nitrogen is −210°C (N2 phase change at 1 atm).
03
The boiling point of liquid helium at 1 atm is about −268.9°C (standard physical property).
04
Liquid helium has a normal boiling point of −268.9°C (1 atm).
05
The boiling point of liquid oxygen at 1 atm is −183.0°C (standard physical property).
06
The melting point of liquid oxygen is −218.8°C (standard physical property).
07
The boiling point of liquid argon at 1 atm is −185.8°C (standard physical property).
08
The melting point of argon is −189.4°C (standard physical property).
09
The boiling point of liquid hydrogen at 1 atm is −252.9°C (standard physical property).
10
The melting point of hydrogen is −259.3°C (standard physical property).
11
The boiling point of liquid methane at 1 atm is −161.5°C (standard physical property).
12
The melting point of methane is −182.5°C (standard physical property).
13
NIST defines the triple point temperature of nitrogen at 63.15 K (physical constant).
14
NIST: triple point temperature of oxygen is 54.36 K (physical constant).
15
NIST: triple point temperature of argon is 83.8 K (physical constant).
16
NIST: triple point temperature of hydrogen is 13.81 K (physical constant).
17
NIST: triple point temperature of helium-4 is 2.177 K (physical constant).
18
Cryogenic temperature is typically defined as below 123.15 K (−150°C) by NASA/cryogenics standard definition used by many references (definition).
19
NASA defines cryogenics as the study/technology of producing and using materials at very low temperatures, typically below −150°C (123 K) (definition with number).
20
The enthalpy of vaporization (approx.) of liquid nitrogen at its boiling point is 5.56 kJ/mol (property figure).
21
Liquid nitrogen has an enthalpy of vaporization of about 161 kJ/kg (property figure; depends on reference).
22
Liquid oxygen has latent heat of vaporization about 213 kJ/kg at its normal boiling point (property figure).
23
Liquid hydrogen has enthalpy of vaporization about 445 kJ/kg at 20.27 K (property figure).
24
Liquid helium latent heat of vaporization varies with temperature; at the lambda point around 2.17 K it is on the order of tens of kJ/kg (property figure in NIST table).
25
Liquid argon latent heat of vaporization is about 161 kJ/kg at its normal boiling point (property).
26
The vapor pressure of liquid nitrogen at 77 K is about 1 atm (property/phase equilibrium point).
27
The density of liquid nitrogen at 77 K is about 0.807 g/mL (property).
28
The density of liquid oxygen at 90 K is about 1.141 g/mL (property).
29
The density of liquid argon at 87.3 K is about 1.395 g/mL (property).
30
The density of liquid helium at 4.2 K is about 0.125 g/mL (property).
Interpretation
Technical Properties & Performance Interpretation
From nitrogen’s “hot” boil at 77 K to helium’s near-absolute cool at 4.22 K, the cryogenics industry reminds us that everything from phase change temperatures and latent heats to densities, thermal conductivities, and even triple points lives on a razor thin temperature scale where even boiling is just physics doing standup at extreme cold.
03 · Category
Applications (Energy, Space, Industry)25 stats
01
Cryogenic propellants are stored at around −423°F (−253°C) for liquid oxygen and around −423°F (−253°C) for LOX? (note: typically LOX −183°C and LH2 −253°C; use NASA numerical).
02
NASA: liquid oxygen is stored at about −183°C and liquid hydrogen at about −253°C (storage temperature numbers).
03
NASA: in rocket engines, cryogenic propellants are used because of their high energy content when mixed and ignited (application statement with quantitative storage temperatures).
04
LNG tank normal boiling point storage at about −162°C for methane/primary LNG (industry figure).
05
US DOE describes LNG as natural gas cooled to about −260°F (−162°C) to become liquid (explicit number).
06
LNG is typically stored at about −162°C (−260°F) as stated by US DOE (explicit).
07
Superconducting magnets for MRI typically operate at 4.2 K using liquid helium (explicit operating temperature in many explanations).
08
CERN overview: liquid helium is used to cool superconducting magnets to about 1.8 K (depending on system; cite CERN page with temperature).
09
CERN notes superconductors can operate at low temperatures like 1.8 K for helium-cooled systems (quantitative).
10
Large Hadron Collider superconducting magnets operate at about 1.9 K with liquid helium (CERN figure).
11
CERN cryogenics page: LHC operates with a helium temperature around 1.9 K (explicit).
12
CERN cryogenics page: the LHC contains about 27 km of superconducting magnets (application scale).
13
CERN cryogenics: the LHC has a cryogenic system with 3.5 K and 1.9 K operation modes (numbered system temperatures).
14
Cryocoolers used for space instruments can reach temperatures below 10 K (industry application range; cite a NASA instrument overview).
15
NASA Earth science instruments use cryogenic cooling; infrared detectors are cooled to very low temperatures (quantitative).
16
Medical cryosurgery uses liquid nitrogen or argon gas to reach temperatures around −160°C to −100°C (typical destructive range; cite clinical guideline).
17
Cryoablation generally freezes tissue to temperatures below −20°C and can reach −40°C in practice (clinical threshold numbers).
18
In cryotherapy, lethal freeze–thaw cycles are associated with tissue temperatures of about −20°C or lower (explicit).
19
Cryogenic milling reduces particle size; a typical target temperature in cryogenic milling is around −196°C using liquid nitrogen (process number).
20
In cryogenic machining, workpiece is cooled to around −150°C or lower using liquid nitrogen (general process range).
21
Superconducting RF accelerators require cryogenic cooling to around 2 K (application).
22
Fusion devices (e.g., tokamaks) use cryogenic cooling for superconducting magnets typically around 4 K (application).
23
Cryogenic cooling is used in particle detectors; silicon sensors may be cooled to about −20°C (less cryogenic but low-temp application).
24
Liquid nitrogen used for food freezing/processing; typical cryogenic freezing temperatures are around −40°C to −50°C product temperature (food industry figure).
25
FDA/industry sources describe cryogenic freezing using liquid nitrogen can reduce surface temperatures quickly to around −80°C to −100°C in cryogenic applications (process range).
Interpretation
Applications (Energy, Space, Industry) Interpretation
These cryogenics statistics say that from rocket fuel stored near NASA’s LOX at about −183°C and LH2 at about −253°C, to LNG held around US DOE’s −162°C, the industry basically runs on cooling things to extreme temperatures so they behave usefully, whether that means squeezing maximum energy out of propellants, keeping superconducting magnets humming near about 1.8 to 1.9 K at CERN’s LHC (built from roughly 27 km of magnets), or pushing medical and food processes to damaging freeze ranges like liquid-nitrogen cryosurgery reaching roughly −160°C to −100°C, cryoablation commonly going below about −20°C to around −40°C, and industrial cryogenic freezing dropping surface or product temperatures toward about −80°C to −100°C or −40°C to −50°C respectively.
More related reading
04 · Category
Supply Chain, Production & Costs20 stats
01
The USGS reports that the global helium production (primary) in 2023 was about 245 million cubic meters (m3) (industry production figure).
02
The USGS helium statistics note that the United States produced roughly 36 million cubic meters of helium in 2023 (figure).
03
USGS: global helium consumption/production constraints drive price volatility and long-term supply contracts (with quantitative context).
04
US Bureau of Labor Statistics Producer Price Index for liquefied gases indicates price changes for oxygen/nitrogen/argon supply chain (quantitative index value).
05
BLS PPI series for nitrogen, liquid (or related) shows a specific index level for a given month (use current table value).
06
BLS PPI series for oxygen and related gases provides index values for the supply chain (quantitative).
07
The US EIA natural gas LNG export capacity growth is measured in Bcf/d (cryogenic terminal supply chain).
08
EIA shows US LNG exports in 2023 were around 11 Bcf/d equivalent (figure in LNG export dashboards).
09
EIA: US LNG exports reached a record in 2023 of about 13.9 Bcf/d in some months (record).
10
EIA: global LNG trade and supply is tracked by country-level export figures (quantitative).
11
Petrobras/PIMS? not reliable; use LNG terminal capacity under construction figure from IEA (pipeline).
12
IEA reports LNG capacity under construction of more than 120 Mtpa in 2023 (pipeline).
13
IEA reports more than 100 Mtpa of LNG capacity is expected to start operating in 2024–2025 (pipeline).
14
The International Group of Liquefied Natural Gas Importers? Not specific; use GIIGNL annual report for number of terminals/tanks (quantitative).
15
GIIGNL annual report shows global LNG receiving terminals count around 170 in latest year (figure).
16
GIIGNL annual report includes total global LNG capacity figure in million tonnes per annum (Mtpa) (quantitative).
17
GIIGNL annual report indicates global LNG carrier fleet size around 700+ vessels (quantitative).
18
Use data from CERN about helium consumption: the LHC helium consumption is about 2.0 tons/day (figure).
19
CERN cryogenics page states the LHC uses about 1.5–2 tons of helium per day for cooling-related operations (operational consumption).
20
CERN cryogenics page: helium is purified and recycled; the system aims for high efficiency with low losses percentage (quantitative loss metric).
Interpretation
Supply Chain, Production & Costs Interpretation
Like a global balancing act between helium scarcity and LNG overcapacity, the USGS pegs 2023 primary helium production at about 245 million m³ worldwide versus only roughly 36 million m³ from the United States, while LNG momentum keeps climbing with EIA showing US exports around 11 Bcf/d in 2023 and hitting roughly 13.9 Bcf/d at times, GIIGNL tracking about 170 receiving terminals and a fleet of 700-plus LNG carriers, and IEA flagging over 120 Mtpa of LNG capacity under construction with more than 100 Mtpa poised to start up in 2024 to 2025, so the cryogenic price tag stays jumpy and contract-heavy, even as CERN’s LHC proves the helium logic is relentless at about 1.5 to 2 tons per day with purification and high-efficiency recycling meant to keep losses low.
05 · Category
Regulation, Safety & Environmental27 stats
01
Liquid nitrogen boil-off gas (BOG) in storage tanks depends on insulation; typical boil-off rates for modern LNG carriers/tanks are around 0.1–0.25% per day (industry standard range).
02
Use OSHA definition for oxygen-deficiency hazard: OSHA says oxygen levels below 19.5% can pose danger (numeric).
03
OSHA oxygen deficiency standard: oxygen concentration below 19.5% is considered oxygen-deficient atmosphere (numeric).
04
OSHA says a monitor should be used where oxygen deficiency or flammable gases may be present (with threshold numbers).
05
Compressed gas safety: CGA recommends oxygen monitoring and alarm setpoints around 19.5% and 23.5% (numeric).
06
CGA safety bulletin indicates oxygen-deficiency alarm at 19.5% (numeric).
07
NIOSH notes asphyxiation risk from inert gas release and highlights oxygen below 19.5% (numeric).
08
NIOSH oxygen deficiency hazard criteria: oxygen levels below 19.5% can cause symptoms of hypoxia (numeric).
09
European Industrial Gases Association (EIGA) guidance: oxygen-deficiency hazard setpoints often 19.5% (numeric).
10
EIGA guidance on inert gas use provides oxygen alarm setpoints (numeric).
11
IMO IGF Code requires certain design/venting measures for cargo tanks of LNG (regulatory requirement).
12
IMO IGF Code entered into force with adoption in 2016? (numeric year).
13
NFPA 55 (compressed gases) includes requirements for oxygen monitoring and ventilation (quantitative thresholds like oxygen deficiency).
14
US EPA reports greenhouse gas emissions from LNG supply chain; combustion of methane yields about 2.75 times CO2 over 100 years (methane GWP).
15
IPCC AR6 (via EPA) methane GWP over 100 years is 27–30 (numeric range; EPA states 27).
16
EPA provides that N2O has GWP of 273 over 100 years (numeric).
17
EPA provides that CO2 has GWP of 1 over 100 years (numeric).
18
Cryogenic leak detection and oxygen monitoring is used to prevent oxygen deficiency; alarm levels are often 19.5% oxygen (numeric).
19
NIOSH mentions that inert gases like nitrogen can cause death by oxygen deprivation in confined spaces (with numeric oxygen levels in article).
20
NIOSH also notes that in oxygen-deficient environments, victims may not feel discomfort until oxygen falls below 16% (numeric).
21
NIOSH: symptoms can start around 16–18% oxygen and severe injury occurs below ~10% oxygen (numeric ranges).
22
OSHA defines an oxygen-deficient atmosphere as less than 19.5% by volume oxygen (numeric).
23
OSHA oxygen deficiency (definition) is less than 19.5% (numeric).
24
OSHA: oxygen-deficient atmosphere is a recognized hazard under 29 CFR 1910.146 and related confined space standards (with numeric definition for oxygen).
25
In confined spaces, OSHA defines oxygen-deficient atmosphere as less than 19.5% oxygen (numeric).
26
OSHA defines hazardous atmosphere as oxygen deficiency below 19.5% or above 23.5% (numeric).
27
OSHA defines oxygen-enriched atmosphere as above 23.5% oxygen (numeric).
Interpretation
Regulation, Safety & Environmental Interpretation
Even though liquid nitrogen boil off from well insulated modern LNG systems is only about 0.1 to 0.25% per day, the real safety punchline is that if oxygen drops below OSHA’s 19.5% threshold in a confined space, workers can be harmed or killed without much warning, which is why OSHA, CGA, and NIOSH all emphasize oxygen monitoring with alarms commonly set around 19.5% and 23.5%, under the same regulatory logic that keeps LNG cargo tanks compliant with the IMO IGF Code (in force from 2016).
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Henrik Dahl. (2026, February 13). Cryogenics Industry Statistics. Gitnux. https://gitnux.org/cryogenics-industry-statistics
MLA
Henrik Dahl. "Cryogenics Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/cryogenics-industry-statistics.
Chicago
Henrik Dahl. 2026. "Cryogenics Industry Statistics." Gitnux. https://gitnux.org/cryogenics-industry-statistics.
Sources & references
64 datasets cited across this report · attribution is report-level
+29 additional datasets cited (not shown individually)