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A vacuum pump known as a cryogenic pump collects gases by causing them to condense on a surface that has been chilled to an extremely low temperature of around 120 K. However, the boiling and freezing temperatures of the gases involved have a significant impact on the pump's performance.
These pumps are widely used for handling, moving, and transferring cryogenic fluids such as liquid hydrocarbons, oxygen, nitrogen, hydrogen, and argon. The use of cryogenic pumps is a need as the need for liquid gases rises across several sectors.
The global cryogenic pump market is expected to reach $1,860.1 million by 2030. The expanding use of such pumps in the metallurgy, electronics, and chemical sectors is a key factor driving the market.
Additionally, the expansion of the industry is being driven by a rise in investment throughout the power generating industry along with a preference fread more...
The APAC construction chemicals market is growing, and the trend will continue in the years to come as well. Fast industrialization and urbanization and rising consciousness for quality construction are the factors responsible for the growth of the industry.read more...
The global ride-hailing market is predicted to generate a revenue of $120.2 billion by 2024, increasing from $50.4 in 2018, and is expected to register a 13.0% CAGR during the forecast period (2019–2024). read more...
The micro-mobility industry is expected to rise in the coming years. Generation Z and millennials, including advancements in connectivity, GPS tracking, battery cost reduction, mobile payments, and life improvement, including rising penetration of smartphones lead to a shift in the transportation landscape.
Micro mobility has lured a strong customer base, offering a true potential solution for urban transportation.
Dynamics of Micromobility
The increasing investments by investors in the development of the micro-mobility solution is a major trend in the industry. The potential industry players and various start-up companies are getting massive investments from investors.
The lower commuting cost relevant to micromobility-sharing services, in comparison to other transportation modes, is a major industry driver.
For example, the bike-sharing services cost $0.5 with an additional $0.5 per 30 minutes. Similarly, a kick scooter sharing service costs $1 for an initial trip with an additional averaread more...
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