Apr 23, 2020   SOURCE: BusinessWire

Pre & Post COVID-19 Market Estimates-Global Cryogenic Tanks Market 2020-2024 | Evolving Opportunities with Air Products and Chemicals Inc. and Air Water Inc. | Technavio

The cryogenic tanks market is poised to grow by USD 393.99 million during 2020-2024, progressing at a CAGR of about 7% during the forecast period. Request free sample pages

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Technavio has announced its latest market research report titled Global Cryogenic Tanks Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Cryogenic Tanks Market 2020-2024 (Graphic: Business Wire)

Read the 120-page report with TOC on "Cryogenic Tanks Market Analysis Report by Product (LNG, Nitrogen, and Others), Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024".

https://www.technavio.com/report/global-cryogenic-tanks-market-industry-analysis

The market is driven by the increased demand for nitrogen from the food processing industry. In addition, the growing brewery industry in APAC is anticipated to boost the growth of the cryogenic tanks market.

The food processing industry is one of the key end-users of LNG. LNG is used in various applications in the food processing industry such as mixing, grinding, and coating. It is also used to cool processors such as knives, cutting blades, and other fixtures. For example, LNG is used in high-capacity meat grinders to avoid the breaking of fats caused by the heat generated during the process. The meat processing industry is one of the fastest-growing industries across the world. The consumption of meat is increasing at a faster rate, especially in the US, Brazil, and European countries. These factors will positively influence the growth of the global cryogenic tanks market.

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Major Five Cryogenic Tanks Companies:

Air Products and Chemicals Inc.

Air Products and Chemicals Inc. operates its business through segments such as Industrial Gases - Americas, Industrial Gases - EMEA, Industrial Gases - Global, and Corporate and other. The company offers cryogenic liquid containers such as double-walled vacuum vessels with multilayer insulation in the annular space.

Air Water Inc.

Air Water Inc. operates its business through segments such as Industrial Gas Business, Chemical Business, Medical Business, Energy Business, Agriculture and Food Products Business, and Other. The company offers a wide range of cryogenic tanks such as LNG tank truck and LNG tank container.

Chart Industries Inc.

Chart Industries Inc. operates its business through segments such as D&S East, D&S West, E&C Cryogenics, and E&C FinFans. The company offers a wide range of cryogenic tanks such as bulk storage tanks, microbulk systems, and bulk CO2 carbonation.

Cryofab Inc.

Cryofab Inc. operates its business through segments such as Standard products, Transfer lines, Custom cryogenic equipment, High run production, Short run production, and Repair. The company offers a wide range of cryogenic tanks such as CMSH, CL, CLPB, CFN, CLD, and CHD series.

FIBA Technologies Inc.

FIBA Technologies Inc. operates its business through segments such as Seamless Pressure Valves, Tube Trailers and Skids, DOT & ASME Assemblies, Cryogenic Equipment, and Parts & Accessories. The company offers a wide range of cryogenic tanks such as cryogenic transport trailers and ABS and ISO portable tanks.

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Cryogenic Tanks Market Product Outlook (Revenue, USD Million, 2020-2024)

  • LNG
  • Nitrogen
  • Others

Cryogenic Tanks Market Regional Outlook (Revenue, USD Million, 2020-2024)

  • APAC
  • Europe
  • North America
  • South America
  • MEA

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

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