The future of the global cryogenic tank market looks promising with opportunities in the metal processing, energy generation, and electronic markets. The global cryogenic tank market is expected to reach an estimated $11.1 billion by 2030 with a CAGR of 5.5% from 2024 to 2030. The major drivers for this market are high demand for LNG and increasing government initiatives for clean energy across the world.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the cryogenic tank market by
raw material (steel and nickel alloy), cryogenic liquid (liquid nitrogen, LNG,
liquid hydrogen, liquid oxygen, and others), application (storage and
transportation), end use (metal processing, energy generation, electronics, and
others), and region (North America, Europe, Asia Pacific, and the Rest of the
World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, liquid
nitrogen, LNG, liquid hydrogen, and liquid oxygen are the major segments of
cryogenic tank market by cryogenic liquid. Lucintel forecasts that liquid
nitrogen will remain the largest segment due to its wide application in metal
processing, food & beverage, electronics, and healthcare industries.Within
this market, metal processing will remain the largest segment due to growing
adpption of cryogenic gases, such as nitrogen, oxygen, and argon.
APAC is expected to
witness highest growth over the forecast period due to easy availability of raw
materials and low-cost labor.
Chart Industries,
Cryofab, Inox, Linde, Air Products, Cryolor, Air Water, Wessington Cryogenics,
Fiba Technologies, and Isisan are the major suppliers in the cryogenic tank
market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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