Global Cryogenic Tanks Strategic Business Report 2023: Shift Towards Renewable Energy Enhances Importance of Cryogenic Energy Storage Systems

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Jun 29, 2023, 21:15 ET

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)

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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