Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global LNG Storage Tank Market by Type (Steel, 9% Nickel Steel, Aluminum Alloy, Others (7% nickel steel, concrete)), By Application (Self-Supporting, Non Self-Supporting) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global LNG Storage Tank Market by Type (Steel, 9% Nickel Steel, Aluminum Alloy, Others (7% nickel steel, concrete)), By Application (Self-Supporting, Non Self-Supporting) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 253569 4200 Machinery & Equipment 377 208 Pages 4.6 (42)
                                          

Market Overview:


The global LNG storage 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 natural gas as a fuel source and the rising concerns over climate change. The steel segment is expected to dominate the global LNG storage tank market during the forecast period, owing to its low cost and high durability. However, 9% nickel steel tanks are expected to grow at a higher CAGR due to their superior properties such as resistance against corrosion and high thermal conductivity.


Global LNG Storage Tank Industry Outlook


Product Definition:


LNG Storage Tanks are large tanks that are used to store liquefied natural gas. These tanks are important because they allow companies to store large quantities of LNG and distribute it when needed.


Steel:


Steel is a key component in the manufacturing of storage tanks used for liquefied natural gas (LNG). Storage tanks are manufactured using various grades of steel depending upon the application. The basic raw materials required to manufacture steel include iron, carbon, and hydrogen along with other alloying elements such as manganese, nickel, chromium and molybdenum. The cost associated with these raw materials fluctuates widely owing to market forces such as demand and supply.


9% Nickel Steel:


Nickel steel is a type of alloy which contains nickel and other metals. The percentage composition of nickel in the alloy can vary from 9% to 45%. The higher the percentage, the more resistant it is to corrosion. It also has excellent electrical properties and forms an excellent material for high-temperature applications.


The global LNG storage tank market size was valued at USD 54 billion in 2016.


Application Insights:


The self-supporting application segment led the global liquefied natural gas storage tank market in 2017 and is projected to witness significant growth over the forecast period. Increasing number of LNG import terminals across various regions including Asia Pacific, Europe, North America and Latin America are expected to drive demand for SSTs.


Increasing use of steel tanks in non-self supporting applications owing to their ability to provide structural stability at low costs is expected to drive product demand over the forecast period. The non self-supporting applications include buildings & structures as well as ships & boats among others.


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 LNG receiving terminals, which are majorly located in China, Australia, and India. Increasing demand for natural gas as a fuel for cooking purposes is likely to drive regional growth over the coming years.


The Asia Pacific was followed by North America with around 5% of market share in terms of revenue owing to growing demand from domestic application sectors such as industrial plants and power generation facilities coupled with government initiatives favoring energy security through diversification measures including imports/exports based on supply availability difference between different regions. For instance; Imports from Middle East increased significantly after 2010 due to declining production levels while exports were reduced drastically due to lower consumption levels resulting into inventory build up at various locations including Northeast U S (NU), Louisiana (Baton Rouge) & Texas coast (Houston).


Growth Factors:


  • Increasing demand for natural gas as a fuel source for electricity generation and transportation
  • Stringent environmental regulations to reduce emissions from traditional fuel sources such3. Rapid growth in the LNG export market, especially in Asia Pacific
  • Technological advancements that have led to the development of more efficient and compact storage tanks
  • The increasing popularity of LNG as a cleaner alternative to other fuels

Scope Of The Report

Report Attributes

Report Details

Report Title

LNG Storage Tank Market Research Report

By Type

Steel, 9% Nickel Steel, Aluminum Alloy, Others (7% nickel steel, concrete)

By Application

Self-Supporting, Non Self-Supporting

By Companies

Linde, McDermott, Wartsila, IHI, Air Water, Cimc Enric, Chart Industries, Isisan

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

208

Number of Tables & Figures

146

Customization Available

Yes, the report can be customized as per your need.


Global LNG Storage Tank Market Report Segments:

The global LNG Storage Tank market is segmented on the basis of:

Types

Steel, 9% Nickel Steel, Aluminum Alloy, Others (7% nickel steel, concrete)

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

Self-Supporting, Non Self-Supporting

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:

  1. Linde
  2. McDermott
  3. Wartsila
  4. IHI
  5. Air Water
  6. Cimc Enric
  7. Chart Industries
  8. Isisan

Global LNG Storage Tank Market Overview


Highlights of The LNG Storage Tank Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Steel
    2. 9% Nickel Steel
    3. Aluminum Alloy
    4. Others (7% nickel steel, concrete)
  1. By Application:

    1. Self-Supporting
    2. Non Self-Supporting
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the LNG Storage 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

Global LNG Storage Tank Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


A liquefied natural gas storage tank is a large, cylindrical container used to store LNG. The tank is filled with compressed natural gas (CNG), which is then heated until it liquefies. This liquid form of gas can be stored in the tank indefinitely, and can be used as fuel or sold to other businesses.

Some of the key players operating in the lng storage tank market are Linde, McDermott, Wartsila, IHI, Air Water, Cimc Enric, Chart Industries, Isisan.

The lng storage tank market is expected to register a CAGR of 5.5%.

                                            
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 LNG Storage 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 LNG Storage Tank Market Dynamics       4.2.1 Market Drivers       4.2.2 Market Restraints       4.2.3 Market Opportunity    4.3 LNG Storage 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 LNG Storage 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 LNG Storage Tank Market Size & Forecast, 2018-2028       4.5.1 LNG Storage Tank Market Size and Y-o-Y Growth       4.5.2 LNG Storage Tank Market Absolute $ Opportunity

Chapter 5 Global LNG Storage 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 LNG Storage Tank Market Size Forecast by Type
      5.2.1 Steel
      5.2.2 9% Nickel Steel
      5.2.3 Aluminum Alloy
      5.2.4 Others (7% nickel steel
      5.2.5  concrete)
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global LNG Storage 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 LNG Storage Tank Market Size Forecast by Applications
      6.2.1 Self-Supporting
      6.2.2 Non Self-Supporting
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global LNG Storage 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 LNG Storage 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 LNG Storage Tank Analysis and Forecast
   9.1 Introduction
   9.2 North America LNG Storage 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 LNG Storage Tank Market Size Forecast by Type
      9.6.1 Steel
      9.6.2 9% Nickel Steel
      9.6.3 Aluminum Alloy
      9.6.4 Others (7% nickel steel
      9.6.5  concrete)
   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 LNG Storage Tank Market Size Forecast by Applications
      9.10.1 Self-Supporting
      9.10.2 Non Self-Supporting
   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 LNG Storage Tank Analysis and Forecast
   10.1 Introduction
   10.2 Europe LNG Storage 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 LNG Storage Tank Market Size Forecast by Type
      10.6.1 Steel
      10.6.2 9% Nickel Steel
      10.6.3 Aluminum Alloy
      10.6.4 Others (7% nickel steel
      10.6.5  concrete)
   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 LNG Storage Tank Market Size Forecast by Applications
      10.10.1 Self-Supporting
      10.10.2 Non Self-Supporting
   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 LNG Storage Tank Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific LNG Storage 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 LNG Storage Tank Market Size Forecast by Type
      11.6.1 Steel
      11.6.2 9% Nickel Steel
      11.6.3 Aluminum Alloy
      11.6.4 Others (7% nickel steel
      11.6.5  concrete)
   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 LNG Storage Tank Market Size Forecast by Applications
      11.10.1 Self-Supporting
      11.10.2 Non Self-Supporting
   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 LNG Storage Tank Analysis and Forecast
   12.1 Introduction
   12.2 Latin America LNG Storage 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 LNG Storage Tank Market Size Forecast by Type
      12.6.1 Steel
      12.6.2 9% Nickel Steel
      12.6.3 Aluminum Alloy
      12.6.4 Others (7% nickel steel
      12.6.5  concrete)
   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 LNG Storage Tank Market Size Forecast by Applications
      12.10.1 Self-Supporting
      12.10.2 Non Self-Supporting
   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) LNG Storage Tank Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) LNG Storage 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) LNG Storage Tank Market Size Forecast by Type
      13.6.1 Steel
      13.6.2 9% Nickel Steel
      13.6.3 Aluminum Alloy
      13.6.4 Others (7% nickel steel
      13.6.5  concrete)
   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) LNG Storage Tank Market Size Forecast by Applications
      13.10.1 Self-Supporting
      13.10.2 Non Self-Supporting
   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 LNG Storage Tank Market: Competitive Dashboard
   14.2 Global LNG Storage Tank Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Linde
      14.3.2 McDermott
      14.3.3 Wartsila
      14.3.4 IHI
      14.3.5 Air Water
      14.3.6 Cimc Enric
      14.3.7 Chart Industries
      14.3.8 Isisan

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