Cryogenic Tank Market worth $11.09 billion by 2029 - Exclusive Report by Brandessence Market Research - Seite 2

Competitive Hierarchy

The prominent players characterizing the competitive terrain of Global Cryogenic Tank Market are VRV Srl, Air Products and Chemicals Inc., Chart Industries Inc., FIBA Technologies Inc., Air Water Inc., Cryofab Inc., INOX India Pvt. Ltd., Wessington Cryogenics, Air Liquide SA, and Linde AG.

These companies are trying to improve their market position by partaking in activities such as mergers & acquisitions, R&D investments, collaborations, and partnerships, among others. These companies are trying to improve their market position by partaking in activities such as mergers & acquisitions, R&D investments, collaborations, and partnerships, among others.

Segmental Outlook

By Raw Material:

• Steel
• Aluminium Alloy
• Nickel Alloy
• Others

By Cryogenic Liquid:

• Liquid Hydrogen
• Liquefied Natural Gas (LNG)
• Liquid Nitrogen
• Others

By Application:

• Transportation
• Storage

By End-Use:

• Medical Technology
• Metal Processing
• Energy Generation
• Food & Beverages
• Electronics
• Water Treatment
• Others

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Region-Wise Insights

How is Asia Pacific faring in this market?

Asia Pacific is reckoned to generate significant returns over the assessment timeline. This is attributable to the presence of prominent players, the booming food & beverage sector, escalating demand for LNG, along with widespread industrialization.

Category-Wise Outlook

Which is the most rapidly evolving raw material segment in this industry sphere?

The steel segment has emerged as one of the most rapidly evolving raw material segments in this market. This is due to the numerous beneficial characteristics possessed by steel including toughness, high strength, and ductility, among others.

Which cryogenic liquid segment is anticipated to amass notable gains over 2022-2028?

The Liquid Nitrogen segment is reckoned to gain significant returns over 2022-2028 owing to the rising adoption of this element in the food & beverage, healthcare, and metal processing applications.

Which is the leading application segment in this marketplace?

The storage segment is presently leading the market in terms of volume share. This is attributable to the rising on-site LNG storage units for industrial gases and LNG.