Industrial Liquefied Natural Gas (LNG) Vaporizer Market Report 2026

The industrial liquefied natural gas (lng) vaporizer market size has grown strongly in recent years. It will grow from $1.23 billion in 2025 to $1.34 billion in 2026 at a compound annual growth rate (CAGR) of 9%. The growth in the historic period can be attributed to industrial fuel diversification, growth in lng imports, expansion of gas based power plants, demand for cleaner fuels, industrial energy security.

The industrial liquefied natural gas (lng) vaporizer market size is expected to see strong growth in the next few years. It will grow to $1.88 billion in 2030 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to decarbonization initiatives, growth in lng fueled industries, expansion of distributed energy systems, adoption of hybrid vaporizer technologies, industrial fuel cost optimization. Major trends in the forecast period include rising use of lng as industrial fuel, growing demand for high capacity vaporizers, shift toward energy efficient vaporization, expansion of lng infrastructure, adoption of continuous operation systems.

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 companies operating in the industrial liquefied natural gas (lng) vaporizer market are Tokyo Gas Engineering Solutions Corporation, Kobe Steel Ltd., Chart Industries Inc., Linde plc, 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 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial liquefied natural gas (lng) vaporizer market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial liquefied natural gas (lng) vaporizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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 that 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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