The emergence and adoption of LNG as a fuel has undoubtedly provided those in the cryogenic equipment manufacturing industry with a boom in business considering cryogenic equipment is essential to ship the product worldwide by road, rail and sea.
But that boom has now eased, and even ‘contracted’ according to Duncan Gaskin, the Marketing Development Manager of Parker Bestobell Valves. He explains that “the cryogenic industry as a whole is starting to see a downturn,” that “the industrial gas sector has been stagnant for a while,” and that the “LNG industry is seeing challenges caused by the very low oil price.”
So what knock-on effect will this have for cryogenic equipment manufacturers and what will it mean for the future of cryogenic equipment itself throughout worldwide markets? This month’s In Focus… sets out the technological trends that are shaping the future of cryogenic equipment.
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