Liquefied Gas Storage Tank Market size is estimated to be USD 3.12 Billion in 2024 and is expected to reach USD 5.67 Billion by 2033 at a CAGR of 7.2% from 2026 to 2033.
The global liquefied gas storage tank market has experienced notable growth, driven by increasing demand for cleaner energy sources and the expansion of liquefied natural gas (LNG) infrastructure. In 2022, the market was valued at approximately USD 14.54 billion and is projected to reach USD 21.76 billion by 2028, growing at a compound annual growth rate (CAGR) of 6.89% during the forecast period. This growth is attributed to the rising adoption of LNG in power generation, transportation, and industrial applications, necessitating enhanced storage solutions to support the expanding LNG trade. [Source: Stratview Research]
Regionally, the Asia Pacific market has emerged as a dominant force, accounting for a significant portion of the global market share. This prominence is due to rapid urbanization and industrialization, particularly in countries like China and India, where the demand for LNG is escalating. In North America, the market is also witnessing substantial growth, with the U.S. leading due to increased LNG production and export activities. Europe follows suit, with countries investing in LNG infrastructure to diversify their energy mix and reduce carbon emissions. These regional dynamics present numerous opportunities for stakeholders to invest in storage infrastructure, technological advancements, and strategic partnerships to capitalize on the growing demand for liquefied gas storage solutions. [Source: MarketsandMarkets]
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Air Products
Air Liquide
Matrix Service Co
John Wood
Inc
Ershigs
Inc
Chart Industries
African Oxygen Ltd
Wessels Company
Kennedy Tank and Manufacturing Co.
Inc
Pittsburg Tank & Tower Group
Chattanooga Boiler & Tank Co
TÃœV NORD GROUP
Fabri-Tech
Inc
Gulf Coast Alloy Welding
Inc
Ventower Industries
LLC
Woods Tank Works
Quality Manufacturing Group
Belding Tank Technologies
Inc
Waterford Tank and Fabrication
General Industries
Inc
Prentex Alloy Fabricators
Inc
Taricco Corporation
Mech-Chem Associates
Inc
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 Liquefied Gas Storage Tank Market
Liquefied Natural Gas (LNG)
Liquefied Petroleum Gas (LPG)
Ammonia
Ethylene
Butane
Steel
Freon
Composite Materials
Stainless Steel
Carbon Steel
Spherical Tanks
Cylindrical Tanks
Vertical Tanks
Horizontal Tanks
Pressurized Tanks
Industrial Sector
Transportation Sector
Residential Sector
Aerospace Sector
Agriculture Sector
Energy and Power Generation
Food and Beverage
Aerospace and Defense
Chemical Processing
Pharmaceuticals
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 Liquefied Gas 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 Liquefied Gas Storage Tank Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Liquefied Gas Storage Tank Market, By Type
6. Global Liquefied Gas Storage Tank Market, By Application
7. Global Liquefied Gas Storage Tank Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Liquefied Gas Storage Tank Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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