Cryogenic Liquefied Gas Cylinders (LGC) Market size is estimated to be USD 3.2 Billion in 2024 and is expected to reach USD 5.1 Billion by 2033 at a CAGR of 5.5% from 2026 to 2033.
The global Cryogenic Liquefied Gas Cylinders (LGC) market was valued at approximately USD 1.1 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. The market’s growth is driven by the increasing demand for cryogenic gases, which are used in various industries such as healthcare, energy, and chemicals. Cryogenic Liquefied Gas Cylinders are extensively utilized for storing gases like oxygen, nitrogen, argon, and carbon dioxide at extremely low temperatures. The growing use of these gases in medical applications, particularly in oxygen therapy, as well as in the production of energy and chemicals, is expected to contribute to the market’s steady growth over the forecast period.
Regionally, North America and Europe hold significant shares in the Cryogenic Liquefied Gas Cylinders market, with North America accounting for around 35% of the market in 2022. Europe follows closely with a share of 30%, driven by the high demand for cryogenic gases across multiple sectors, including industrial manufacturing and medical applications. The Asia Pacific region is anticipated to witness the highest growth rate, with a projected CAGR of 6.5% through 2030, fueled by the increasing industrial activities and expanding healthcare infrastructure in countries such as China and India. The Middle East and Africa, along with Latin America, are also emerging as key markets for Cryogenic Liquefied Gas Cylinders due to their growing energy sectors and industrial applications.
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Taylor Wharton
Salzburger Aluminium Group (SAG)
Cryo Technologies
HanbeeCryo Co.
Cryo Tech Industrial Company
Luxi New Energy Equipment Group
Furuise
Cryolor SA
Furui CIT
Shandong Huanri Group
Beijing Tianhai Industry Co.
Henan Jian Shen Metal Metenrial Co.
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 Cryogenic Liquefied Gas Cylinders (LGC) Market
Liquid Nitrogen (LN2)
Liquid Oxygen (LO2)
Liquid Argon (LAr)
Liquid Carbon Dioxide (LCO2)
Liquid Helium (LHe)
Medical and Healthcare
Aerospace and Defense
Food and Beverage
Metallurgy and Welding
Energy and Power
Small Cylinders (up to 200 liters)
Medium Cylinders (200 to 1,000 liters)
Large Cylinders (above 1,000 liters)
Healthcare Facilities (Hospitals, Research Labs)
Industrial Manufacturing (Metals, Automotive)
Food Processing Plants (Cooling, Preservation)
Aerospace Companies (Satellite Launch)
Energy Sector (Nuclear, Renewable Energy)
Direct Sales
Distributors
Online Retailers
Gas Suppliers
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 Cryogenic Liquefied Gas Cylinders (LGC) 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 Cryogenic Liquefied Gas Cylinders (LGC) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Cryogenic Liquefied Gas Cylinders (LGC) Market, By Type
6. Global Cryogenic Liquefied Gas Cylinders (LGC) Market, By Application
7. Global Cryogenic Liquefied Gas Cylinders (LGC) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Cryogenic Liquefied Gas Cylinders (LGC) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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