New York, United States , July 03, 2023 (GLOBE NEWSWIRE) -- The Global Cryogenic Tanks Market Size is to grow from USD 11.05 billion in 2022 to USD 19.98 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period.
Get a Sample PDF Brochure: https://www.sphericalinsights.com/request-sample/2088
Cryogenic tanks are specialized containers designed for the storage and transportation of liquefied gases at extremely low temperatures. Constructed using materials like stainless steel or aluminum, these tanks incorporate advanced thermal insulation techniques to minimize heat transfer and maintain the cryogenic temperatures required for substances such as liquid oxygen, nitrogen, helium, and argon. They find essential applications in industries like healthcare, aerospace, research, and industrial processes. Cryogenic tanks ensure the safe storage and distribution of liquefied gases, enabling their use in various applications where low-temperature conditions are crucial. These tanks play a critical role in maintaining the integrity and usability of cryogenic fluids across diverse sectors.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on "Global Cryogenic Tanks Market Size, Share, and COVID-19 Impact Analysis, By Cryogenic Liquid (Liquefied Natural Gas, Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen, and Other), By Application (Storage and Transportation), End-User (Manufacturing, Healthcare, Food Industry, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032". Get Detailed Report Description Here:
Buy Now Full Report: https://www.sphericalinsights.com/checkout/2088
The transportation segment is expected to grow at a CAGR of around 5.8% during the forecast period.
Based on application, the global cryogenic tanks market is segmented into storage and transportation. The transportation segment is projected to witness significant growth in the forecast period in the cryogenic tanks market. This growth can be attributed to the increasing demand for the transportation of liquefied gases, such as LNG and liquid oxygen, for various applications is driving the need for cryogenic tanks specifically designed for efficient and safe transport. Additionally, the expanding global trade of LNG and the development of LNG infrastructure are contributing to the growth of the transportation segment. Moreover, advancements in tank design, insulation materials, and safety measures are enhancing the transportation capabilities of cryogenic tanks, further boosting the prospects of the transportation segment.
The manufacturing segment held the largest market share with more than 31.7% in 2022.
Based on end-user, the global cryogenic tanks market is segmented into manufacturing, healthcare, food industry, and others. The manufacturing segment has claimed the largest market share in the cryogenic tanks industry. This dominance can be attributed to increasing demand for cryogenic tanks across various sectors, such as healthcare, electronics, and aerospace, has fueled the growth of the manufacturing segment. The advancements in manufacturing technologies and processes have enabled the production of high-quality and cost-effective cryogenic tanks. Additionally, the presence of established manufacturers with expertise in designing and producing cryogenic tanks has contributed to the segment's dominance. Furthermore, the manufacturing segment's ability to cater to the diverse needs of end-users and provide customized solutions has further solidified its position as the leading market share holder in the cryogenic tanks industry.
Inquire Before Buying This Research Report: https://www.sphericalinsights.com/inquiry-before-buying/2088
Asia-Pacific is predicted to grow at a higher CAGR of around 6.4% over the projected period.
Based on region, the Asia-Pacific region is anticipated to experience highest growth in the forecast period for several reasons, due to rapidly expanding industrial sector, including manufacturing, healthcare, and electronics, is driving the demand for cryogenic tanks. Additionally, the increasing adoption of liquefied natural gas (LNG) as a cleaner energy source in countries like China and India is boosting the need for storage and transportation infrastructure, thus driving the market growth. Moreover, government initiatives promoting the development of LNG terminals and supporting the use of cryogenic technologies further contribute to the market expansion. Furthermore, the presence of key market players and ongoing technological advancements in the region also play a crucial role in the anticipated growth of the Asia-Pacific cryogenic tanks market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global cryogenic tanks market include Chart Industries, Cryofab, INOX India, Linde PLC, Air Products, Cryolor, Air Water Inc., Wessington Cryogenics, Super Cryogenic Systems Pvt. Ltd., FIBA Technologies, ISISAN, Suretank Group Ltd., and Eden Cryogenic LLC. And among others.
Get Discount At @ https://www.sphericalinsights.com/request-discount/2088
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global cryogenic tanks market based on the below-mentioned segments:
Cryogenic Tanks Market, By Cryogenic Liquid
- Liquefied Natural Gas
- Liquid Nitrogen
- Liquid Oxygen
- Liquid Hydrogen
- Other
Cryogenic Tanks Market, By Application
- Storage
- Transportation
Cryogenic Tanks Market, By End-User
- Manufacturing
- Healthcare
- Food Industry
- Others
Cryogenic Tanks Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
Browse Related Reports
Global Residential Battery Market Size, Share, By Type (Lithium-ion battery, Lead-Acid battery, Others), By Power Rating (3-6 kW, 6-10 kW), By Operation (Standalone, Solar); By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030
https://www.sphericalinsights.com/reports/residential-battery-market
Global Axial Flow Pump Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Product Type (Horizontal and Vertical), Application (Water Treatment, Irrigation, Evaporators, and Others) and End-Use (Chemical, Municipal, Pulp & Paper, Food & Beverage, Agriculture, and Others): By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030
https://www.sphericalinsights.com/reports/axial-flow-pump-market
Global CNG Dispenser Market Size, Share & Trends Analysis Report Market by Type (Fast Fill and Time Fill), Flow Rate (Up to 15, Up to 50, and Up to 100 Kg/Min), Distribution (Company Owned & Company Run, Company Owned & Dealer Run, and Dealer Owned & Dealer Run), By Region (APAC, North America), And Segment Forecasts, 2021 – 2030
https://www.sphericalinsights.com/reports/cng-dispenser-market-
Global High Voltage Switchgear Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Type (Gas Insulated, Oil Insulated, Air Insulated), By Application (Power Generation, Industrial, Oil and Gas, Others); By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of the Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030
https://www.sphericalinsights.com/reports/high-voltage-switchgear-market
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Follow Us: LinkedIn | Facebook | Twitter
