Cryogenic Liquefied Gas Cylinders (LGC) Market size was valued at USD 5.8 Billion in 2022 and is projected to reach USD 8.7 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The cryogenic liquefied gas cylinders (LGC) market is a critical segment of the industrial gas industry, catering to the transportation, storage, and distribution of liquefied gases at extremely low temperatures. These cylinders are designed to safely hold gases such as LNG (Liquefied Natural Gas), LO2 (Liquid Oxygen), LN2 (Liquid Nitrogen), and LCO2 (Liquid Carbon Dioxide) in a liquefied state for a wide range of applications, including medical, industrial, energy, and chemical sectors. The demand for cryogenic gas cylinders is driven by the need for these gases in various industrial applications, including the development of new energy solutions, enhanced healthcare technologies, and innovations in manufacturing processes. This report delves into the market segmented by application, highlighting key uses and growth drivers for each major type of gas stored and transported in cryogenic cylinders.
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The LNG segment is one of the largest and most significant applications of cryogenic liquefied gas cylinders. LNG is primarily used as a cleaner alternative to conventional fossil fuels, especially in the energy and transportation sectors. As natural gas reserves continue to grow and as the world shifts towards cleaner energy sources, LNG's adoption is on the rise. The growing need for energy security, coupled with advancements in LNG technology, is expected to drive significant demand for cryogenic storage solutions. These cylinders help in safely transporting LNG over long distances, providing an efficient means of global energy distribution. LNG is also emerging as a key component in the development of sustainable and renewable energy infrastructures, further propelling its market growth.
The global transition towards natural gas as a more environmentally friendly fuel is supported by LNG’s role in reducing carbon emissions. Cryogenic LNG cylinders are critical in this transition, as they ensure safe storage and efficient transportation at a lower environmental footprint compared to traditional fuels like coal or oil. The market for LNG storage solutions, especially in remote or off-grid locations, is set to grow rapidly due to increased infrastructure investments, such as LNG terminals and regasification facilities. Additionally, the rise of electric vehicles (EVs) using LNG as fuel and the growing demand for cleaner maritime fuel solutions are expected to further boost the demand for cryogenic cylinders dedicated to LNG storage and transportation.
Liquid oxygen (LO2) is essential in various industries, notably healthcare, aerospace, and manufacturing. The medical sector, where LO2 is used for respiratory therapy, particularly for patients with chronic obstructive pulmonary disease (COPD) or other respiratory conditions, is a primary driver of demand for cryogenic cylinders. LO2 is stored and transported in cryogenic gas cylinders to maintain its liquid state, as oxygen becomes a liquid at extremely low temperatures. The expansion of the healthcare industry globally, along with an aging population and increasing incidence of respiratory illnesses, is expected to increase the demand for LO2. Furthermore, LO2’s role in supporting various chemical reactions in industrial applications, such as steel manufacturing, also supports its position as a key segment in the cryogenic liquefied gas cylinder market.
In the aerospace industry, LO2 is used as an oxidizing agent in rocket propulsion systems. This demand is linked to the growth in space exploration, commercial space flights, and satellite launches, which require significant amounts of LO2 for fuel storage. The growing interest in advanced medical technologies that utilize LO2, such as hyperbaric oxygen therapy, is also expected to boost market demand. As industries look for efficient, scalable, and safer ways to handle liquid oxygen, cryogenic cylinders will continue to play a central role in the safe distribution and storage of this vital resource across multiple sectors.
Liquid nitrogen (LN2) is widely used in a variety of applications such as cryogenics, food freezing, medical procedures, and industrial applications. It is commonly used for cooling and freezing biological specimens, in medical cryopreservation, and in the food industry for quick freezing and preservation of food products. LN2 is essential for many applications requiring extremely low temperatures due to its ability to maintain the necessary freezing conditions. In the medical sector, LN2 plays a pivotal role in the preservation of cells, tissues, and even organs, which is crucial for research and clinical applications. Additionally, LN2 is used in cryosurgery for removing or destroying abnormal tissue, such as warts or precancerous growths, making it indispensable in modern healthcare.
In the industrial sector, LN2 is utilized for processes that require rapid cooling or freezing, including the cooling of electronic components, the stabilization of manufacturing processes, and as an inert gas for controlled atmospheres. LN2 is also widely used in the metal industry for cryogenic treatment of metals, which improves their strength, hardness, and durability. The cryogenic liquefied gas cylinder market for LN2 is expected to expand as the demand for these industrial applications grows, especially as technological advancements continue to require precise temperature control. As the demand for LN2 in these various sectors increases, so too does the need for safe, reliable, and efficient storage and transportation methods via cryogenic cylinders.
Liquid carbon dioxide (LCO2) is another key application within the cryogenic liquefied gas cylinder market, with extensive use in sectors such as food and beverage, chemical manufacturing, and medical industries. LCO2 is primarily used in the food and beverage industry for carbonation of beverages, refrigeration, and food preservation. It is also employed in fire extinguishers, in industrial cleaning, and in certain types of refrigeration systems. Its ability to quickly absorb heat makes it a versatile and cost-effective cooling agent in various applications. The increasing demand for convenience foods and carbonated beverages has fueled growth in the LCO2 segment, as the need for efficient storage and transport of CO2 increases to meet industrial and consumer demands.
Furthermore, LCO2 is used in enhanced oil recovery (EOR) processes, which increases oil extraction efficiency and improves production yields. In the medical field, LCO2 is used in medical applications like insufflation during surgeries, where it is injected into the body for certain procedures, and as a component in anesthetics. As the market for LCO2 grows in these varied applications, cryogenic cylinders will continue to play a pivotal role in its distribution and storage. With the global focus on environmental sustainability, the demand for LCO2 is expected to continue rising as industries seek cleaner alternatives to traditional refrigerants and cooling agents.
The "Others" category in the cryogenic liquefied gas cylinders market includes various gases that are less common but still critical to certain applications. This includes gases like liquid hydrogen (LH2), liquefied air, and various specialty gases used in the chemical and research industries. Liquid hydrogen, for instance, is used extensively in space exploration, fuel cells, and clean energy systems. As hydrogen fuel systems become more prevalent, particularly in transportation and energy generation, the need for safe and efficient cryogenic storage solutions for hydrogen will increase. Additionally, other gases like liquefied argon and neon are used in specialized applications such as semiconductor manufacturing and in the production of specific chemicals and alloys.
The continued innovation in various industrial sectors, especially in clean energy, electronics, and healthcare, is expected to drive the demand for a range of specialty cryogenic gases. For example, the growing use of liquid hydrogen in clean energy and fuel cell technologies will necessitate more advanced and secure storage systems. Cryogenic liquefied gas cylinders will continue to be indispensable as industries explore new frontiers in energy, materials science, and advanced manufacturing, requiring the development of specialized solutions to meet evolving needs.
One of the key trends driving the growth of the cryogenic liquefied gas cylinders market is the increasing demand for clean energy solutions. As global energy consumption continues to rise, the transition towards alternative fuels, including LNG and hydrogen, is becoming more pronounced. Cryogenic gas cylinders play an essential role in the storage and transportation of these fuels, making them indispensable in energy infrastructure projects. The growth of the LNG and hydrogen markets, in particular, is expected to be a major driver for the cryogenic cylinder industry. This trend is also supported by government policies aimed at reducing carbon emissions and promoting cleaner energy alternatives.
Additionally, advancements in cryogenic technology are allowing for the development of more efficient, safer, and durable cylinders. The growing focus on safety standards, including the development of advanced materials and monitoring systems, is expected to drive further innovation in the cryogenic cylinder market. The expansion of cryogenic infrastructure, including LNG terminals and hydrogen fueling stations, is also expected to increase the demand for specialized cylinders designed for specific applications. As industries continue to prioritize sustainability, the cryogenic liquefied gas cylinders market is poised to benefit from increasing investments in clean energy technologies and transportation solutions.
The cryogenic liquefied gas cylinders market presents numerous opportunities, particularly in emerging economies where industrialization and infrastructure development are rapidly advancing. As industries in these regions begin to adopt cleaner and more efficient energy sources, the demand for cryogenic cylinders will increase. Furthermore, there is significant potential for growth in the healthcare and aerospace sectors, where the need for LO2 and LN2 is expected to rise. Investment in medical technologies, space exploration, and industrial processes that require cryogenic gases offers substantial growth
Top Cryogenic Liquefied Gas Cylinders (LGC) Market Companies
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.
Regional Analysis of Cryogenic Liquefied Gas Cylinders (LGC) Market
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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Cryogenic Liquefied Gas Cylinders (LGC) Market Insights Size And Forecast