Market Overview:
The global cryogenic bulk tank market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for liquefied natural gas (LNG) and helium in various applications such as power & gas, chemicals, metallurgy, and others. Additionally, the growing industrialization and urbanization are also contributing to the growth of the market. However, volatility in prices of raw materials is restraining the growth of this market. On basis of type, vertical tanks held a major share in 2017 and is expected to grow at a CAGR of 5% during forecast period. This can be attributed to their high efficiency and low maintenance cost as compared to horizontal tanks. On basis on application, power & gas segment accounted for majority share in 2017 owing rising demand for LNG across globe coupled with stringent environmental regulations pertaining emissions from traditional fuels used for generating electricity such as coal-fired plants .
Product Definition:
A cryogenic bulk tank is a large container used to store liquefied gases, such as nitrogen, helium and oxygen. The tanks are important for hospitals, research facilities and other places that need to store these gases in liquid form.
Vertical Tank:
Vertical tank is used to store liquid in the form of a cylinder and it's height can be adjusted based on the volume of liquid to be stored. It’s major application is in storage of LNG, which has high vapor pressure at cryogenic temperatures. Vertical tanks are also used for storing other products such as bio-liquids, hydrocarbons, sludge and wastewater among others.
Horizontal Tank:
Horizontal tank is a large vessel designed to store liquid or gaseous bulk materials. It can be used for the storage of fuels, chemicals, and nuclear waste among others. Horizontal tanks are made up of different materials including stainless steel, concrete, plastic composite (PVC), fiberglass composites (FGC), and aluminum alloys among others.
Application Insights:
The power & gas application segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. Increasing demand for natural gas and electricity from countries, such as China, India and Mexico is expected to drive Cryogenic Bulk Tank (Cryobulk) market growth over the forecast period. In addition, increasing investments by companies in various projects across the world are anticipated to further propel industry growth during future years.
Increasing use of LNG as a fuel source in vehicles and power plants is expected to boost industry expansion over the coming years. The rising demand for LNG from various industries including automotive, energy generation sectors such as cement kilns etc., industrial boilers etc., maritime sector among others will have a positive impact on market development during future years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of cryogenic bulk storage facilities, which are mainly concentrated in India, China, and Japan. These countries have been witnessing strong economic growth over the past few years owing to rapid industrialization and increasing population. Cryogenic bulk storage is largely used for power & gas applications due to high demand from various end-use industries such as petrochemicals, cement manufacturing etc., However other than these applications it finds application in metallurgy sector for production of metals at low temperatures using liquid nitrogen as a feedstock.
The growing chemical industry coupled with rising investments by major companies such as Sinopec Corporation Limited (China) and Royal Dutch Shell plc (UK) for expanding their capacities will drive regional growth over the next eight years.
Growth Factors:
- Increasing demand for cryogenic bulk tanks in the food and beverage industry for storage of liquefied gases such as carbon dioxide, nitrogen, and oxygen.
- Growing demand from the healthcare sector for storage of medical gases such as helium, argon, and nitrogen.
- Rising adoption of cryogenic bulk tanks in the chemical industry to store liquefied gases used in various chemical processes.
- Increasing use of cryogenic bulk tanks in research laboratories to store liquefied gases used for experiments and research purposes.
Scope Of The Report
Report Attributes
Report Details
Report Title
Cryogenic Bulk Tank Market Research Report
By Type
Vertical Tank, Horizontal Tank
By Application
Power & Gas, Chemicals, Metallurgy, Others
By Companies
Chart, Taylor-Wharton, Linde, Praxair Technology, Cryolor, Cryogenmash, Cryofab, Worthington Industries, Wessington Cryogenics, Auguste Cryogenics, Chart, FIBA Technologies, Suretank, INOX, CIMC Group, SASPG, Zhuhai Gongtong, Zhangjiagang Furui
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
212
Number of Tables & Figures
149
Customization Available
Yes, the report can be customized as per your need.
Global Cryogenic Bulk Tank Market Report Segments:
The global Cryogenic Bulk Tank market is segmented on the basis of:
Types
Vertical Tank, Horizontal Tank
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power & Gas, Chemicals, Metallurgy, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Chart
- Taylor-Wharton
- Linde
- Praxair Technology
- Cryolor
- Cryogenmash
- Cryofab
- Worthington Industries
- Wessington Cryogenics
- Auguste Cryogenics
- Chart
- FIBA Technologies
- Suretank
- INOX
- CIMC Group
- SASPG
- Zhuhai Gongtong
- Zhangjiagang Furui
Highlights of The Cryogenic Bulk Tank Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vertical Tank
- Horizontal Tank
- By Application:
- Power & Gas
- Chemicals
- Metallurgy
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cryogenic Bulk Tank Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A cryogenic bulk tank is a large, insulated container used to store liquids or gases at very low temperatures. These tanks are typically filled with helium or nitrogen gas, which allows the contents to remain liquid or gas-free even at extremely low temperatures.
Some of the key players operating in the cryogenic bulk tank market are Chart, Taylor-Wharton, Linde, Praxair Technology, Cryolor, Cryogenmash, Cryofab, Worthington Industries, Wessington Cryogenics, Auguste Cryogenics, Chart, FIBA Technologies, Suretank, INOX, CIMC Group, SASPG, Zhuhai Gongtong, Zhangjiagang Furui.
The cryogenic bulk tank market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cryogenic Bulk Tank Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cryogenic Bulk Tank Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cryogenic Bulk Tank Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cryogenic Bulk Tank Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cryogenic Bulk Tank Market Size & Forecast, 2018-2028
4.5.1 Cryogenic Bulk Tank Market Size and Y-o-Y Growth
4.5.2 Cryogenic Bulk Tank Market Absolute $ Opportunity
Chapter 5 Global Cryogenic Bulk Tank Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cryogenic Bulk Tank Market Size Forecast by Type
5.2.1 Vertical Tank
5.2.2 Horizontal Tank
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cryogenic Bulk Tank Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cryogenic Bulk Tank Market Size Forecast by Applications
6.2.1 Power & Gas
6.2.2 Chemicals
6.2.3 Metallurgy
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cryogenic Bulk Tank Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cryogenic Bulk Tank Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cryogenic Bulk Tank Analysis and Forecast
9.1 Introduction
9.2 North America Cryogenic Bulk Tank Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cryogenic Bulk Tank Market Size Forecast by Type
9.6.1 Vertical Tank
9.6.2 Horizontal Tank
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cryogenic Bulk Tank Market Size Forecast by Applications
9.10.1 Power & Gas
9.10.2 Chemicals
9.10.3 Metallurgy
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cryogenic Bulk Tank Analysis and Forecast
10.1 Introduction
10.2 Europe Cryogenic Bulk Tank Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cryogenic Bulk Tank Market Size Forecast by Type
10.6.1 Vertical Tank
10.6.2 Horizontal Tank
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cryogenic Bulk Tank Market Size Forecast by Applications
10.10.1 Power & Gas
10.10.2 Chemicals
10.10.3 Metallurgy
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cryogenic Bulk Tank Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cryogenic Bulk Tank Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cryogenic Bulk Tank Market Size Forecast by Type
11.6.1 Vertical Tank
11.6.2 Horizontal Tank
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cryogenic Bulk Tank Market Size Forecast by Applications
11.10.1 Power & Gas
11.10.2 Chemicals
11.10.3 Metallurgy
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cryogenic Bulk Tank Analysis and Forecast
12.1 Introduction
12.2 Latin America Cryogenic Bulk Tank Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cryogenic Bulk Tank Market Size Forecast by Type
12.6.1 Vertical Tank
12.6.2 Horizontal Tank
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cryogenic Bulk Tank Market Size Forecast by Applications
12.10.1 Power & Gas
12.10.2 Chemicals
12.10.3 Metallurgy
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cryogenic Bulk Tank Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cryogenic Bulk Tank Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cryogenic Bulk Tank Market Size Forecast by Type
13.6.1 Vertical Tank
13.6.2 Horizontal Tank
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cryogenic Bulk Tank Market Size Forecast by Applications
13.10.1 Power & Gas
13.10.2 Chemicals
13.10.3 Metallurgy
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cryogenic Bulk Tank Market: Competitive Dashboard
14.2 Global Cryogenic Bulk Tank Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Chart
14.3.2 Taylor-Wharton
14.3.3 Linde
14.3.4 Praxair Technology
14.3.5 Cryolor
14.3.6 Cryogenmash
14.3.7 Cryofab
14.3.8 Worthington Industries
14.3.9 Wessington Cryogenics
14.3.10 Auguste Cryogenics
14.3.11 Chart
14.3.12 FIBA Technologies
14.3.13 Suretank
14.3.14 INOX
14.3.15 CIMC Group
14.3.16 SASPG
14.3.17 Zhuhai Gongtong
14.3.18 Zhangjiagang Furui
