Liquefied Industrial Gas Storage Tanks Market size was valued at USD 3.5 Billion in 2024 and is forecasted to grow at a CAGR of 6% from 2026 to 2033, reaching USD 5.8 Billion by 2033.
The global Liquefied Industrial Gas Storage Tanks market was valued at approximately USD 4.2 billion in 2022, and it is expected to grow at a Compound Annual Growth Rate (CAGR) of around 5.4% from 2023 to 2030. The rising demand for industrial gases in various applications such as chemicals, oil & gas, healthcare, and manufacturing sectors is driving the market's growth. Furthermore, technological advancements in storage tank designs and improvements in the safety and efficiency of liquefied gas storage are also boosting the market. In terms of regional distribution, North America accounted for the largest market share in 2022, followed by Europe and Asia-Pacific. The increasing number of industrial applications in these regions, along with a high demand for liquefied industrial gases, is a significant driver of growth. North America’s market share is attributed to the presence of large industrial gas companies, while the Asia-Pacific region is expected to show the fastest growth due to rapid industrialization and urbanization in countries like China and India.
In terms of regional opportunities, the Middle East and Africa are expected to experience steady growth in the Liquefied Industrial Gas Storage Tanks market, driven by the oil & gas sector and increasing demand for liquefied natural gas (LNG). The Latin American market is also showing potential, particularly in countries with expanding industrial sectors, which increases the demand for storage solutions. With the rapid development of new industrial hubs and infrastructure, emerging economies in the Asia-Pacific and Latin America regions are anticipated to present significant opportunities for market expansion. The growth in industrial gas storage demand, coupled with sustainable storage solutions, will provide potential avenues for the market’s growth across different regions.
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Chart Industries
Inc.
Thermo Fisher Scientific
Worthington Industries
Statebourne
CryoSafe
INOX India Pvt.Ltd.
BioLife Solutions
Day-Impex (Dilvac)
CRYOTHERM
CRYOLOR
Air Liquide
Kawasaki Heavy Industries
Ltd.
Linde plc
Brise Chemicals
Cryofab
Haier Biomedical
Zhongke Meiling Cryogenics Company Limited
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 Industrial Gas Storage Tanks Market
Liquefied Natural Gas (LNG)
Liquefied Petroleum Gas (LPG)
Carbon Dioxide (CO2)
Ammonia
Oxygen
Nitrogen
Spherical Tanks
Cylindrical Tanks
Vertical Tanks
Horizontal Tanks
Transportable Tanks
Industrial Manufacturing
Healthcare and Pharmaceuticals
Aerospace and Defense
Food and Beverage
Energy Generation
Carbon Steel
Stainless Steel
Aluminum
Composite Materials
Fiberglass
Oil & Gas
Chemicals
Pharmaceuticals
Food and Beverages
Manufacturing
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 Industrial Gas Storage Tanks 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 Industrial Gas Storage Tanks Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Liquefied Industrial Gas Storage Tanks Market, By Type
6. Global Liquefied Industrial Gas Storage Tanks Market, By Application
7. Global Liquefied Industrial Gas Storage Tanks Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Liquefied Industrial Gas Storage Tanks Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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