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Global Cryogenic Tanks Market to reach USD 9.51 billion by 2027.

Global Cryogenic Tanks Market Size study, by Cryogenic Liquid (Liquefied Natural Gas (LNG), Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen and Other), by Application (Storage and Transportation), by End-user (Manufacturing, Healthcare, Food Industry and Others), and Regional Forecasts 2021-2027

Product Code: OIRIME-15721710
Publish Date: 6-05-2021
Page: 200

Global Cryogenic Tanks Market is valued approximately at USD 6.54 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.50% over the forecast period 2021-2027. Cryogenic tanks are used to store cryogenic liquids such as argon, nitrogen, helium and many others at -150℃ or lower. Growth of end-use industries such as automobiles, food and beverages, electronic, healthcare and others, strategic initiatives by market players, and growth of e-commerce which is growing the demand of end-use industry’s products such as electronics, packaged food and others are furling the demand in the market. For instance, in September 2019, Air Products and Debang Group formed a joint venture to start New Syngas Project. This new project was expected to advance the gasification growth strategy in the Xuwei National Petroleum Park. Also, according to Statista, consumer electronics retail e-commerce revenue in the United States has increased from USD 48,450 million in 2017 to USD 69,962 million in 2020 and is expected to reach USD 88,393 million in 2025. Furthermore, rising research and development in healthcare sector and growth in electric vehicle which is expected to grow automobiles sector are anticipated to fuel the demand for cryogenic tanks in coming years. However, high capital cost in installation of cryogenic tanks and concerns regarding cryogenic leakages may hinder the growth during forecast period.

Among Asia Pacific, North America, Europe, Latin America, and Rest of the World, Asia Pacific is dominating the world market in terms of revenue and is expected to grow at the fastest pace during forecast period. This growth can be attributed to factors such as rising demand for industrial gases from various end-use industries such as fabrication, metals and others in the regions such as China and India. Also, growing use of liquid nitrogen for refrigeration of the electronic products throughout the manufacturing process is expected to support the demand during forecast period 2021-2027.
Major market player included in this report are:

Chart Industries
INOX India
Linde PLC
Air Products
Air Water Inc.
Wessington Cryogenics
Super Cryogenic Systems Pvt Ltd.
FIBA Technologies

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Cryogenic Liquid:
Liquefied Natural Gas (LNG)
Liquid Nitrogen
Liquid Oxygen
Liquid Hydrogen
By Application:
By End-user:
Food Industry

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Cryogenic Tanks Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Cryogenic Tanks Market, by Region, 2019-2027 (USD Billion)
1.2.2. Cryogenic Tanks Market, by Cryogenic Liquid, 2019-2027 (USD Billion)
1.2.3. Cryogenic Tanks Market, by Application, 2019-2027 (USD Billion)
1.2.4. Cryogenic Tanks Market, by End-user, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cryogenic Tanks Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cryogenic Tanks Market Dynamics
3.1. Cryogenic Tanks Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Growth of e-commerce Strategic moves b market players
3.1.2. Market Restraint High installation cost Cryogenic leakages
3.1.3. Market Opportunities Research and development in healthcare sector Growing demand of electronic vehicles
Chapter 4. Global Cryogenic Tanks Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Cryogenic Tanks Market, by Cryogenic Liquid
5.1. Market Snapshot
5.2. Global Cryogenic Tanks Market by Cryogenic Liquid, Performance – Potential Analysis
5.3. Global Cryogenic Tanks Market Estimates & Forecasts by Cryogenic Liquid 2018-2027 (USD Billion)
5.4. Cryogenic Tanks Market, Sub Segment Analysis
5.4.1. Liquefied Natural Gas (LNG)
5.4.2. Liquid Nitrogen
5.4.3. Liquid Oxygen
5.4.4. Liquid Hydrogen
5.4.5. Other
Chapter 6. Global Cryogenic Tanks Market, by Application
a. Market Snapshot
6.1. Global Cryogenic Tanks Market by Application, Performance – Potential Analysis
6.2. Global Cryogenic Tanks Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.3. Cryogenic Tanks Market, Sub Segment Analysis
6.3.1. Storage
6.3.2. Transportation
Chapter 7. Global Cryogenic Tanks Market, by End-user
b. Market Snapshot
7.1. Global Cryogenic Tanks Market by End-user, Performance – Potential Analysis
7.2. Global Cryogenic Tanks Market Estimates & Forecasts by End-user 2018-2027 (USD Billion)
7.3. Cryogenic Tanks Market, Sub Segment Analysis
7.3.1. Manufacturing
7.3.2. Healthcare
7.3.3. Food Industry
7.3.4. Others
Chapter 8. Global Cryogenic Tanks Market, Regional Analysis
8.1. Cryogenic Tanks Market, Regional Market Snapshot
8.2. North America Cryogenic Tanks Market
8.2.1. U.S. Cryogenic Tanks Market Cryogenic Liquid breakdown estimates & forecasts, 2018-2027 Application breakdown estimates & forecasts, 2018-2027 End-user breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Cryogenic Tanks Market
8.3. Europe Cryogenic Tanks Market Snapshot
8.3.1. U.K. Cryogenic Tanks Market
8.3.2. Germany Cryogenic Tanks Market
8.3.3. France Cryogenic Tanks Market
8.3.4. Spain Cryogenic Tanks Market
8.3.5. Italy Cryogenic Tanks Market
8.3.6. Rest of Europe Cryogenic Tanks Market
8.4. Asia-Pacific Cryogenic Tanks Market Snapshot
8.4.1. China Cryogenic Tanks Market
8.4.2. India Cryogenic Tanks Market
8.4.3. Japan Cryogenic Tanks Market
8.4.4. Australia Cryogenic Tanks Market
8.4.5. South Korea Cryogenic Tanks Market
8.4.6. Rest of Asia Pacific Cryogenic Tanks Market
8.5. Latin America Cryogenic Tanks Markets Snapshot
8.5.1. Brazil Cryogenic Tanks Market
8.5.2. Mexico Cryogenic Tanks Market
8.6. Rest of The World Cryogenic Tanks Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Chart Industries Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Cryofab
9.2.3. INOX India
9.2.4. Linde PLC
9.2.5. Air Products
9.2.6. Cryolor
9.2.7. Air Water Inc.
9.2.8. Wessington Cryogenics
9.2.9. Super Cryogenic Systems Pvt Ltd.
9.2.10. FIBA Technologies

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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