Scope of the Study
Cryogenic tanks are used for the transportation and storage of gases in its liquid form. Meanwhile, the tanks are produced to store the liquefied gas, at -196ºC or below, they are designed like large, oversized ‘Thermos’ bottles, since even a small amount of heat inlet will return the products to their gaseous state. Cryogenic storage tanks are provided under positive pressure to avoid contamination of the inner vessel during storage and shipment before its commissioning. Further, the cryogenic liquid storage tanks are designed to minimize the transfer of heat into the tank. The heat transfer or ‘inleak’ is the transition of thermal energy from a hotter mass to a cooler one, a procedure that is inevitable and can only be slowed.
The market study is being classified by Type (LNG, LPG, Nitrogen, Oxygen, Argon and Others), by Application (Storage and Transportation) and major geographies with country level break-up. According to AMA, the Global Cryogenic Storage Tanks market is expected to see growth rate of 7.1%
Inox India Private Limited (India), Cryofab Inc. (United States), Linde AG (Germany), Chart Industries (United States), VRV SPA (Italy), Suretank Group Ltd. (Ireland), Eden Cryogenics LLC (United States), Cryoquip Australia (Australia), Gardner Cryogenics (United States) and Worthington Industries (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Cryogas Equipment Private Ltd. (India) and Fiba Technologies (United States).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Cryogenic Storage Tanks market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Cryogenic Storage Tanks market by Type, Application and Region.
On the basis of geography, the market of Cryogenic Storage Tanks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Cryogenic Storage Tanks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Food Freeing will boost the Cryogenic Storage Tanks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand and Popularity for the Usage of Several Industrial Gases
- Massive Growth in Consumption and Production of LNG (Liquefied Natural Gas)
- Growing Application of Natural Gas across Different End-Use Industries
- High Operating Cost of Cryogenic Storage Tank
- Consistent Innovation and Improving Design of Cryogenic Storage Tanks
- Rising Raw Material Price
Market Leaders and their expansionary development strategies
On July 01, 2019 - Chart Industries, Inc. has completed the previously announced acquisition of Harsco Corporation’s Industrial Air-X-Changers business (“Air-X-Changers”).
Key Target AudienceManufacturers of Cryogenic Storage Tank, Suppliers of Raw Materials, Distributors of Cryogenic Storage Tank, Food Industry, Governmental Bodies and Research Firms
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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