Low Pressure Liquid Nitrogen Storage Tank Market size was valued at USD 1.2 Billion in 2024 and is forecasted to grow at a CAGR of 6.5% from 2026 to 2033, reaching USD 2.0 Billion by 2033.
The global Low Pressure Liquid Nitrogen Storage Tank Market was valued at approximately USD 1.1 billion in 2022, with a projected compound annual growth rate (CAGR) of 6.5% from 2023 to 2030. The markets growth is driven by increased demand in industries such as healthcare, food processing, and manufacturing, where liquid nitrogen is used for cryogenic preservation and other applications. North America held a significant market share in 2022, accounting for nearly 35% of the global market value. This was followed by Europe and the Asia Pacific region, with Europe contributing approximately 30% of the market share due to high demand from industries requiring low pressure storage solutions. Asia Pacific, driven by rapid industrialization, is expected to witness the fastest growth, with a CAGR of 7.2% through 2030.
In terms of regional opportunities, the Asia Pacific region, particularly countries like China, India, and Japan, is anticipated to experience substantial growth due to the rising demand for liquid nitrogen storage solutions across various sectors, including healthcare, automotive, and electronics. The Middle East and Africa are also emerging markets with potential, given the expanding industrial base and the increasing use of liquid nitrogen in various applications, particularly in oil & gas and chemical industries. Latin America, while smaller in comparison, shows promise with moderate growth rates driven by the expanding manufacturing sector. The demand for low pressure liquid nitrogen storage tanks in these regions is further supported by ongoing infrastructure development and rising investments in cryogenic technology.
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MVE Biological Solutions
Worthington Industries (IC Biomedical)
Cryotherm
Statebourne
Thermo Fisher
Day-Impex
Taylor-Wharton Cryoscience (IC Biomedical)
Wessington Cryogenics
VRV
Cryospain
Haier Medical
Meling
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Low Pressure Liquid Nitrogen Storage Tank Market
Vertical Storage Tanks
Horizontal Storage Tanks
Modular Tanks
Customized Tanks
Stainless Steel
Cryogenic Aluminum
Carbon Steel
Composite Materials
Industrial Use
Medical and Pharmaceuticals
Food and Beverage
Aerospace and Defense
Chemicals
Electronics
Metals and Mining
Energy and Power
Small Capacity (Up to 500 liters)
Medium Capacity (501 to 5000 liters)
Large Capacity (Above 5000 liters)
Custom Capacity Solutions
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Low Pressure Liquid Nitrogen Storage Tank Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Low Pressure Liquid Nitrogen Storage Tank Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Low Pressure Liquid Nitrogen Storage Tank Market, By Type
6. Global Low Pressure Liquid Nitrogen Storage Tank Market, By Application
7. Global Low Pressure Liquid Nitrogen Storage Tank Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Low Pressure Liquid Nitrogen Storage Tank Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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