The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as "Cryogenic Tanks Market in-Depth Analysis with Booming Trends Supporting Growth and Forecast till 2024". The fact-based research report on the global Cryogenic Tanks market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analyzed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and the Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis of how the metal caps and closures market is expected to develop in the future.
The global cryogenic tanks market report by Transparency Market Research provides in-depth analysis of the cryogenic tanks market globally. The report segments the market on the basis of product type, application, and geography. The report analyzes the global cryogenic tanks market in terms of both cryogenic tanks sales volume (Units) and revenue (US$ Mn) for the years 2016–2024. For this research study, the base year is 2015, whereas the forecast is from 2016 to 2024. The report provides a comprehensive competitive landscape and features companies manufacturing cryogenic tanks. This report includes the key dynamics affecting the cryogenic tanks market globally. The analysis in the report provides detailed insights of the global cryogenic tanks market. The drivers, opportunities, and restraints of the market were analyzed in detail and are illustrated in the report. The report also provides a detailed industry analysis of the global cryogenic tanks with the help of the Porter’s Five Forces Analysis model.
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The research report is segmented into product type and application. Product type segment is further segmented into LNG, nitrogen, oxygen, and argon. Application segment is further segmented into storage and transportation (including distribution).
The global cryogenic tanks market has been segmented geographically into five regions and further into sub-segmented 15 unique country sub-segments. The regional segments are North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The 15 countries which have been separately addressed in this report are the U.S., Canada, the U.K., Germany, France, China, India, Japan, Australia, Qatar, Oman, UAE, Egypt, Brazil, and Mexico.
On the basis of product type, LNG is the dominant product type segment which accounted for 37.3% market share in terms of cryogenic tanks sales revenue in 2015. Nitrogen product type segment held 30.9% market share of the global cryogenic tanks market In terms of cryogenic tanks sales revenue in 2015. Increasing production capacity, consumption rate, and trade volume of LNG are some of the factors likely to boost the demand for cryogenic tanks for LNG product type segment during the forecast period.
On the basis of application, storage application dominated the global cryogenic tanks market with 85.5% market share. Cryogenic tanks are utilized for short term as well as long term storage of industrial gases and LNG among others. Increasing on-site production of industrial gases and planned (strategic) storage of LNG are some of the factors which are expected to boost storage application segment during the forecast period.
Asia Pacific dominated the global cryogenic tanks market in terms of cryogenic tanks sales volume and revenue, in 2015. It is expected to expand at a CAGR of 8.4% and 7.3% from 2016 to 2024 in terms of cryogenic tanks sales volume and revenue respectively. North America followed Asia Pacific in terms of market share of the global cryogenic tanks market on the basis of cryogenic tanks sales volume and revenue, in 2015. Europe closely followed North America in terms of cryogenic tanks sales volume and revenue, in 2015. The market in Europe is expected to expand at a CAGR of 6.6% and 7.8% from 2016 to 2024 in terms of cryogenic tanks sales volume and revenue respectively.
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Some of the key market participants in the global cryogenic tanks market are Cryogas Equipment Private Ltd., VRV S.p.A, Cryoquip Australia, Eden Cryogenics LLC, Cryofab Inc., FNF Gas Technology Products Private Ltd., Gardner Cryogenics, INOX India Pvt. Ltd., Linde AG, and Suretank Group Ltd. The report provides an overview of these companies, followed by their financial details, business strategies, and SWOT analysis. The global cryogenic tanks market has been segmented as follows:
Global Cryogenic Tanks Market: Regional Analysis
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Rest of Europe
Asia Pacific
China
India
Japan
Australia
Rest of Asia Pacific
Middle East & Africa
Qatar
Oman
UAE
Egypt
Rest of Middle East & Africa
Latin America
Brazil
Mexico
Rest of Latin America
Global Cryogenic Tanks Market: By Product Type
Liquefied Natural Gas (LNG)
Nitrogen
Oxygen
Argon
Global Cryogenic Tanks Market: By Application
Storage
Transportation
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