DUBLIN, June 29, 2023 /PRNewswire/ — The “Cryogenic Tanks: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

The global market for Cryogenic Tanks estimated at US$5.8 Billion in the year 2022, is projected to reach a revised size of US$9.6 Billion by 2030, growing at a CAGR of 6.5% over the analysis period 2022-2030.

Liquid Nitrogen, one of the segments analyzed in the report, is projected to record a 7.4% CAGR and reach US$3.5 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Liquefied Natural Gas (LNG) segment is readjusted to a revised 6.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 8.5% CAGR

The Cryogenic Tanks market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 6.6% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.1 Billion by the year 2030.

Select Competitors (Total 38 Featured) –

• Air Products and Chemicals, Inc.

• AIR WATER INC

• Chart Industries, Inc.

• Cryofab Inc

• Cryolor

• Cryoquip

• Eden Cryogenics LLC

• FIBA Technologies, Inc

• Gardner Cryogenics

• INOX India Pvt Ltd

• ISISAN ISI SAN. VE TIC .A.S

• Linde plc

• Suretank Group Ltd.

• VRV S.r.L

• Wessington Cryogenics

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights

• Impact of COVID-19 and a Looming Global Recession

• Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP

• World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021

• Industrial Activity to Remain Subdued in the Immediate Term

• Global PMI Index Points for the Years 2018, 2019 & 2020

• Cryogenic Tanks: An Introduction

• Global Market Prospects and Outlook

• Liquid Nitrogen Emerges as the Leading Segment

• Storage Application Drives Market Growth

• Manufacturing: The Largest End-Use Market

• Developing Economies to Spearhead Future Growth

• Competition

• World Brands

• Recent Market Activity

• Cryogenic Tanks – Global Key Competitors Percentage Market Share in 2022 (E)

• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

Story continues

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Myriad Applications of Cryogenics Presents Growth Opportunity for Cryogenic Tanks Market

• Growing Role of Cryogenics in Industrial Manufacturing Fosters Growth in Cryogenic Tanks Market

• Metal Processing Industry Emerges as the Major End-Use Market for Cryogenic Tanks

• Global Steel Processing Market Size (in US$ Billion) for the Years 2019, 2022 and 2025

• Widespread Use of Cryogenic Technology for Food Processing and Preservation to Boost Market Prospects

• Global Frozen Food Market Size (in US$ Billion) for the Years 2018, 2021 & 2024

• Rising Importance of Cryogenic Gases for Improving Quality of Foods

• Liquid Nitrogen Takes the Icing on Cakes and Bakes

• Enhancing Shelf Life of Products: A Key Advantage

• Cryogenic Food Freezing Taps Benefits of Liquid Nitrogen Vis-a-vis other Gases

• Cryogenic Tanks for Regulating Temperature in Cold Storage Chains

• Rising Demand for LNG Drives Demand for Cryogenic Tanks

• Global Primary Energy Consumption by Source (in %) for 2018 and 2040

• Global Gas Supply Breakdown by Source (in %) for 2019

• Global LNG Imports Breakdown by Region (in %) for 2019

• Global LNG Liquefaction Capacity Addition ( in MT) for the Years 2015-2020

• Shift Towards Renewable Energy Enhances Importance of Cryogenic Energy Storage System, Driving Market Growth

• World Installed Base of Wind Energy (in Megawatts) by Geographic Region: 2018, 2021 & 2024

• Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023

• Cryogenics and Superconductivity for Affordable Energy Storage and Generation

• Worldwide Steel Production Trends Impact Cryogenic Tanks Market

• Global Crude Steel Monthly Production (in Million Tonnes) for the Period Jul-2019 to Jul-2020

• With Cryogenics Finding Increased Adoption in Medical Applications, Cryogenic Tanks Market Poised for Growth

• Rising Importance of Cryogenic Tanks for Fast Biological Sample Preservation and Rapid Vaccine Freezing

• Storage and Shipping of COVID-19 Vaccines Drives Efforts to Develop Cryogenic Containers

• COVID-19 Vaccines in Pipeline by Technology and Clinical Stage

• Increasing Role of Cryogenic Equipment in Electronics Industry to Spur Growth

• Growing Demand for Liquid Oxygen to Fuel Growth in Cryogenic Tanks Market

• Surge in Demand for Medical Oxygen Amidst the COVID-19 Pandemic Fuels Market Prospects

• Market to Benefit from Rising Use of Liquid Oxygen in Water Treatment

• Growing Use of Cryogenic Tanks in Space Technology

• Cryogenic Applications for Mars Missions

• Introduction of Newer Technologies in Space Systems Bodes Well for Cryogenic Tanks Market

• Growing Need for Transportation Tanks for Cryogenic Liquids: A Major Growth Opportunity

• Bulk Storage of Liquefied Gases Necessitates Investments into Cryogenic Storage Tanks

• Manufacturers Up the Ante in Cryogenic Innovations

• CryoHub Innovation Project

• Researchers Develop New Snap Freezing Device for Liquid Nitrogen

• Cryogenic Leakage in Tanks: A Major Concern

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/chcu5w

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