Cryogenic Tanks – Global Market Outlook (2019-2027)

smrc-logo-lg-300x81-7768065Global Cryogenic Tanks Market is expected to reach $11.27 billion by 2027 growing at a CAGR of 7.5% during 2019 to 2027.

Some of the key players profiled in the Cryogenic Tanks Market include Cryofab, INOX India, Linde PLC, Cryolor, Wessington Cryogenics, FIBA Technologies, Chart Industries, Nikkiso Cryo, Gardner Cryogenic, Universal Industrial Gases, Vijay Tanks & Vessels, Beijing Tianhai Industry and Hoover Ferguson.

Improving healthcare services in developing economies and growing demand for LNG are the major factors propelling the market growth. However, decrease in global steel production is hampering the market growth.

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Cryogenic tanks are mainly designed tanks for carrying and storage of liquefied gases, for instance, liquid argon, liquid nitrogen, and liquid oxygen. Improved recognition and command for these particular gases in dissimilar industries which include petrochemical, and food & beverages sectors has improved the fame of these tanks.

Based on the cryogenic liquid, the liquid nitrogen segment is estimated to have a lucrative growth due to the use of liquid nitrogen in this production enables cost investments during transportation and develop food quality. It is used to cool generally heat-sensitive materials, such as plastics, and certain metals. The growing command for liquid nitrogen from metal processing, and medical industries is likely to impel the market in this segment.

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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the rising demand from the domestic as well as international markets. It is the fastest-growing market, in terms of both production and demand. Higher domestic demand, simple availability of raw materials, and low-cost labour make this region the most preferred destination for the manufacturers of cryogenic tanks.

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Raw Materials Covered: • Aluminum Alloy • Nickel Alloy

• Steel

Cryogenic Liquids Covered: • Liquefied Natural Gas (LNG) • Liquid Hydrogen • Liquid Nitrogen • Liquid Oxygen • Liquid Argon

• Liquid Helium

Types Covered: • Horizontal

• Vertical

Applications Covered: • Transportation

• Storage

End Users Covered: • Energy Generation • Food & Beverage • Medical Technology • Metal Processing • Water Treatment • Manufacturing • Healthcare

• Power

Regions Covered:

• North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific • South America o Argentina o Brazil o Chile o Rest of South America • Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa

o Rest of Middle East & Africa

What our report offers: – Market share assessments for the regional and country level segments – Market share analysis of the top industry players – Strategic recommendations for the new entrants – Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets – Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) – Strategic recommendations in key business segments based on the market estimations – Competitive landscaping mapping the key common trends – Company profiling with detailed strategies, financials, and recent developments

– Supply chain trends mapping the latest technological advancements

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