Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Cryogenic Tanks market. Market segmentation includes Cryogenic Liquid (Liquid Nitrogen, Liquefied Natural Gas (LNG), Liquid Hydrogen, Other Cryogenic Liquids); Application (Storage, Transportation); End-Use (Manufacturing, Healthcare, Food & Beverage, Other End-Uses).
Cryogenic tanks store various materials at low temperatures, below -150 degrees Fahrenheit. They are vacuum tanks designed especially for storing and transporting liquefied gases, under pressure. These cryogens have boiling point below room temperature. Given the safety hazards associated with Cryogens, storage and transportation vessels used for cryogens for are designed in such a way so as to minimize associated risks. Increased demand for low temperature operations across industries such as food technology, healthcare and metal processing among others constitute the major growth driver for the market for cryogenic tanks at the global level. The tanks are designed to suit the specific needs of these industries where they are used for critical jobs such as keeping away heat contained in vessels from liquids. The healthcare industry has been growing at a steady pace and with the emergence of the COVID-19 pandemic, industry growth rate had only increased. The pharmaceutical industry which is one of the major end-user industries for cryogenic tends is currently spending aggressively on research and development, which is anticipated to fuel market growth over the coming years. Liquid nitrogen, liquid oxygen, LNG (liquefied natural gas) and liquid argon are some of the products stored at various pressure levels in cryogenic tanks. Increase in demand for LNG worldwide created a strong demand growth scenario for the tanks as these are required for LNG's storage and transportation. Further, increasing use of industrial gases in varied applications in different industries is driving demand for cryogenic tanks used for storing and transporting the gases.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 497. Among this pool, 99 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 22 unique participations, a total of 11 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
Linde AG (The Linde Group)
Chart Industries, Inc.
Wessington Cryogenics Ltd.
Inox India Pvt. Ltd,
FIBA Technologies, Inc.
Eden Cryogenics, LLC
Suretank Group Ltd.
Segments Covered in the Report -
Cryogenic Liquid (Liquid Nitrogen, Liquefied Natural Gas (LNG), Liquid Hydrogen, Other Cryogenic Liquids)
Application (Storage, Transportation)
End-Use (Manufacturing, Healthcare, Food & Beverage, Other End-Uses)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Rest of Middle East
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.