Artificial Intelligence driven Marketing Communications
According to the new market research report “Cryogenic Tanks Market by Raw Material (Steel, Nickel Alloy), Cryogenic Liquid (Liquid Nitrogen, LNG), Application (Storage, Transportation), End-use Industry (Metal Processing, Energy Generation, Electronics), and Region – Global Forecast to 2024″, The global cryogenic tanks market size is projected to grow from USD 6.2 billion in 2019 and expected to reach USD 8.1 billion by 2024, at a CAGR of 5.5%.
Don’t miss out on business opportunities in Cryogenic Tanks Market
Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=26811967
The global cryogenic tanks market size of is estimated to be USD 6.2 billion in 2019 and projected to reach USD 8.1 billion by 2024, at a CAGR of 5.5%. Cryogenic tanks are designed to keep the gases in the liquid state at very low temperatures (below − 238°F), which cannot be managed using normal tanks. Cryogenic tanks are used for storage and transportation of liquid gases, such as oxygen, nitrogen, liquefied natural gas (LNG), hydrogen, helium, and argon. They are available in various configurations, such as horizontal, vertical, double walled, and insulated and find a wide range of applications in metal processing, energy generation, electronics, medical technology, food & beverage industry, water treatment, and other industries.
Rising demand for LNG in various sectors, such as automotive, domestic & commercial fuel, and power generation is expected to boost natural gas exploration and production, thereby boosting the growth of the cryogenic tanks market. On the other hand, the increase in infrastructure spending, space applications for cryogenic technologies, and cryogenic energy storage systems represent promising growth opportunities for the market.
Browse and in-depth TOC on “Cryogenic Tanks Market – Global Forecast to 2024”
121 – Tables
36 – Figures
147 – Pages
View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/cryogenic-tanks-market-26811967.html
The global cryogenic tanks market size of is estimated at USD 6.2 billion in 2019 and projected to reach USD 8.1 billion by 2024, at a CAGR of 5.5%. The global cryogenic tanks industry is driven by improving healthcare services, especially in the developing economies. Rising demand for LNG in various sectors, such as automotive, domestic & commercial fuel, and power generation is expected to boost natural gas exploration and production, thereby boosting the growth of the cryogenic tanks market.
Cryogenic tanks are used to handle liquefied gases. They are used for storage and transportation of liquid gases such as oxygen, nitrogen, Liquefied Natural Gas (LNG), hydrogen, helium, and argon. They are available in various configurations, including horizontal, vertical, double walled, and insulated and find a wide range of applications in the metal processing, energy generation, electronics, medical technology, food & beverage industry, water treatment, and other industries. The increasing demand for LNG in North America and APAC is boosting the demand for cryogenic tanks. Cryogenic tanks market is witnessing significant growth opportunities from emerging economies, such as Middle East & Africa and South America with increasing spending in the energy sector.
The key players in cryogenic tanks market are Chart Industries (US), Cryofab (US), INOX India (India), Linde PLC (UK), Air Products (US), Cryolor (France), Air Water (Japan), Wessington Cryogenics (UK), FIBA Technologies (US), and ISISAN (Turkey). The cryogenic tanks market report analyzes the key growth strategies adopted by the leading market players between 2013 and 2019, which include expansion, new product launch, and merger & acquisition.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26811967
Chart Industries (US) is a manufacturer of standard and tailor-made products and systems for a variety of cryogenic and heat transfer applications. The company along with its subsidiary VRV (Italy), designs and manufactures pressure equipment for chemical, petrochemical, power, and cryogenic industries. Chart Industries operates through three segments, namely, D&S West, D&S East, and energy and chemicals. Each segment manufactures and markets different cryogenic and gas processing equipment and systems. New product development is its prime strategy to gain share in emerging markets. The acquisition of Thermax (US) in 2015 enhanced its offerings in the distribution & storage segment, which facilitates complete system solutions.
Cryofab (US) manufactures and offers maintenance services for cryogenic storage containers and accessories for industrial, laboratory, medical, biotechnology, homecare, semiconductor, superconductivity, and pharmaceutical applications, worldwide. In January 2015, Cryofab received a certification to sell TPED and PED market liquid helium dewars in Europe and other locations. This development boosted the sale of cryogenic tanks used for the transportation application, especially in Europe.
Browse Adjacent Markets @ Chemicals Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/cryogenic-tanks-market.asp
Visit Our Website: https://www.marketsandmarkets.com