Industrial Liquefied Natural Gas (LNG) Vaporizer Global Market Report 2025

The industrial liquefied natural gas (LNG) vaporizer market size has grown strongly in recent years. It will grow from $1.13 billion in 2024 to $1.23 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth during the historic period can be attributed to factors such as increasing natural gas exports, rising demand for alternative fuels, growing industrialization in emerging economies, the expansion of liquefied natural gas import terminals, and heightened government focus on clean energy.

The industrial liquefied natural gas (LNG) vaporizer market size is expected to see strong growth in the next few years. It will grow to $1.71 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The growth projected for the forecast period is driven by the increasing adoption of liquefied natural gas in remote power generation, a rising preference for low-emission energy sources, the expansion of cross-border LNG trade, a shift toward decentralized energy systems, and growing demand from the heavy transportation sector. Key trends expected during the forecast period include technological advancements in vaporization systems, innovation in ambient air vaporizer designs, improvements in cryogenic equipment efficiency, increased investment in research and development by major players, and the integration of automation and digital monitoring technologies.

The growing demand for cleaner energy sources is expected to drive the expansion of the industrial liquefied natural gas (LNG) vaporizer market moving forward. Cleaner energy sources refer to power generation methods that emit little to no harmful pollutants, helping to minimize environmental pollution and climate impact. This demand is rising due to increasing environmental concerns, which have led governments and industries worldwide to enforce stricter emission regulations and invest in sustainable energy solutions aimed at combating climate change and preserving natural ecosystems. Industrial LNG vaporizers support the use of cleaner-burning liquefied natural gas by efficiently converting it to gas, enabling industries to reduce emissions and promote sustainable energy practices. For example, in February 2024, the World Economic Forum, a Switzerland-based non-governmental organization, reported that global clean energy capacity grew by 50% year-over-year in 2023, with 507 gigawatts of new capacity added. Hence, the increasing demand for cleaner energy sources is fueling the growth of the industrial LNG vaporizer market.

Leading companies in the industrial LNG vaporizer market are focusing on developing innovative technologies like advanced ambient vaporizers to enhance LNG vaporization efficiency and facilitate cleaner energy adoption. Advanced ambient vaporizers are energy-efficient devices that utilize natural atmospheric heat to convert cryogenic liquids into gases without relying on external power sources. For instance, in November 2023, HQHP, a China-based clean energy equipment manufacturer, introduced an innovative Ambient Vaporizer for LNG filling stations that uses natural convection of ambient air to efficiently vaporize low-temperature LNG and warm it to near-ambient temperature. This heat exchange equipment achieves complete LNG vaporization without external energy input, resulting in substantial energy savings and environmental advantages. It offers easy installation and maintenance, large fin spacing for effective ventilation and rapid defrosting, and a sturdy design with low internal stress connections. The vaporizer can be customized to suit various operational requirements and is ideal for open, well-ventilated environments, making it a sustainable and efficient solution for LNG regasification at fueling stations.

In November 2024, Crane Company, a US-based industrial valve manufacturer, acquired Technifab Products Inc. for $40.5 million. This acquisition aims to enhance Crane Company’s cryogenics expertise and broaden its capability to offer a wider range of solutions across rapidly growing markets such as semiconductor, medical, and pharmaceutical industries. Technifab Products Inc. is a Brazil-based manufacturer and supplier of industrial LNG vaporizers.

Major players in the industrial liquefied natural gas (lng) vaporizer market are Tokyo Gas Engineering Solutions Corporation, Kobe Steel Ltd., Chart Industries Inc., Linde plc, Clean Energy Fuels Corp., Sumitomo Precision Products Co. Ltd., Cryostar SAS, Zhangjiagang Furui Special Equipment Co. Ltd., Cryolor SA, INOX India Limited, TransTech Energy LLC, Nikkiso Cryoquip LLC, Algas-SDI International LLC, CTR Inc., Sigma Thermal Inc., Armstrong Chemtec Group Inc., Isisan Isi Sanayi ve Ticaret A.S., Cryeng Group Pty Ltd, Incryo Systems Private Limited, Cryogas Equipment Private Limited, Manning & Lewis Engineering Company, Suzhou Xinrui Cryogenic Equipment Co. Ltd.

North America was the largest region in the industrial liquefied natural gas (LNG) vaporizer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in industrial liquefied natural gas (LNG) vaporizer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the industrial liquefied natural gas (LNG) vaporizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An industrial liquefied natural gas (LNG) vaporizer is a device designed to convert liquefied natural gas from its cryogenic liquid state back into a gaseous form by applying heat. This conversion process enables LNG to be safely and efficiently utilized as natural gas in various industrial applications such as power generation, heating, and fuel supply. Vaporizers ensure the controlled and consistent delivery of natural gas at the required pressure and temperature for downstream equipment.

The primary types of industrial liquefied natural gas (LNG) vaporizers include ambient air vaporizers, water bath vaporizers, steam-heated vaporizers, electric vaporizers, and others. An ambient air vaporizer is a type of LNG vaporizer that uses the surrounding air as the heat source to transform liquefied natural gas into its gaseous state. These vaporizers come in various capacity ranges, such as small capacity (< 50 MMBtu/h), medium capacity (50-200 MMBtu/h), and large capacity (> 200 MMBtu/h), and operate in different modes including continuous and intermittent operation. They are utilized across a broad spectrum of industries, including oil and gas, chemicals, food and beverage, metals and mining, and power generation.

The industrial liquefied natural gas (LNG) vaporizer market research report is one of a series of new reports that provides industrial liquefied natural gas (LNG) vaporizer market statistics, including industrial liquefied natural gas (LNG) vaporizer industry global market size, regional shares, competitors with a industrial liquefied natural gas (LNG) vaporizer market share, detailed industrial liquefied natural gas (LNG) vaporizer market segments, market trends and opportunities, and any further data you may need to thrive in the industrial liquefied natural gas (LNG) vaporizer industry. This industrial liquefied natural gas (LNG) vaporizer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The industrial liquefied natural gas (LNG) vaporizer market consists of sales of forced draft vaporizers, direct-fired vaporizers, heat transfer fluids, and skid-mounted vaporizer units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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