Market Overview:
The global liquid nitrogen storage equipment market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for liquid nitrogen storage equipment from labs and education, pharma and hospital, stem cell and blood bank, and other applications. In terms of type, the stainless steel tank segment is expected to lead the global liquid nitrogen storage equipment market during the forecast period. This can be attributed to its properties such as corrosion resistance and durability. In terms of region, North America is expected to lead the global liquid nitrogen storage equipment market during the forecast period followed by Europe.
Product Definition:
Liquid Nitrogen Storage Equipment is a device used to store liquid nitrogen. It is important to use Liquid Nitrogen Storage Equipment because it can keep the liquid nitrogen at a consistent temperature, preventing it from warming up and losing its effectiveness.
Stainless Steel Tank:
Stainless steel tank is a liquid storage equipment used for storing liquid nitrogen. It has the ability to store up to 4,000 LN2 Imperial gallons (9,842 US G) of working pressure and temperature regulated liquid hydrogen. The stainless steel tanks are manufactured in numerous sizes ranging from 1/4th barrel up to 40-gal capacities with various fittings including nozzles and valves as per the requirement of end-user application.
Aluminum Tank:
Aluminum tank is used for storing liquid nitrogen. It has the capacity of holding around 473 L of liquid at a temperature of -450 C. The aluminum tank is made in anodized, seamless, and welded construction with pressure-tightened joints to prevent leakages.
The aluminum tanks are widely used in cryogenics and aerospace industries for the storage of various liquids including hydrogen, oxygen, carbon dioxide along with other gases which have low boiling points.
Application Insights:
The others application segment accounted for the largest revenue share in 2017 and is projected to witness significant growth over the forecast period. Other applications include food and beverages, chemical, pharmaceuticals, cosmetics, and tobacco manufacturing among others. Liquid nitrogen is used in these industries for a variety of processes including freezing of samples for testing as well as production of frozen products such as ice cubes or snow cones.
Liquid Nitrogen (LN2) is an essential industrial gas that plays a vital role in several applications including research laboratories & education institutions, biopharmaceutical industry clinical trials & patient care facilities bio-production facilities and even entertainment events such as carnivals or county fairs among others.
Regional Analysis:
North America was the dominant regional market in 2017 and is expected to maintain its position over the forecast period. The region has a well-established healthcare sector, which is one of the major end-users of liquid nitrogen. Furthermore, high research activities by various universities and institutes are projected to propel product demand in this region.
Asia Pacific is anticipated to be one of the fastest growing regions owing to increasing awareness about LN2 products among researchers and scientists from various sectors including biotechnology, pharmaceuticals, food science & technology, chemical engineering etc., especially from countries such as China and India. Moreover, rising number of stem cell research centers in these countries will further drive product demand during the forecast period.
Growth Factors:
- Increasing demand for food products and beverages: The global population is increasing at a rapid pace, which in turn is fueling the demand for food products and beverages. This is leading to an increase in the adoption of liquid nitrogen storage equipment by food processing companies to store their products safely.
- Technological advancements: The liquid nitrogen storage equipment market is witnessing significant advancements in technology, with manufacturers introducing new and innovative products into the market. This is helping to boost the growth of the market.
- Rising awareness about food safety: There has been a rising awareness among consumers about the importance of food safety, which has led to an increase in demand for safe and hygienic storage solutions such as liquid nitrogen storage equipment.
- Growing popularity of frozen foods: Frozen foods are becoming increasingly popular due to their convenience and health benefits, which is driving demand for liquid nitrogen storage equipment among retailers and consumers alike.
Scope Of The Report
Report Attributes
Report Details
Report Title
Liquid Nitrogen Storage Equipment Market Research Report
By Type
Stainless Steel Tank, Aluminum Tank, Other Tank
By Application
Labs and Education, Pharma and Hospital, Stem Cell and Blood Bank, Others
By Companies
Chart MVE, Thermo Scientific, Worthington Industries, Statebourne, CryoSafe, INOX India, Custom Biogenic Systems (CBS), Day-Impex (Dilvac), Cryotherm, Haier Shengjie, Meling
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
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Liquid Nitrogen Storage Equipment Market Report Segments:
The global Liquid Nitrogen Storage Equipment market is segmented on the basis of:
Types
Stainless Steel Tank, Aluminum Tank, Other 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
Labs and Education, Pharma and Hospital, Stem Cell and Blood Bank, 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 MVE
- Thermo Scientific
- Worthington Industries
- Statebourne
- CryoSafe
- INOX India
- Custom Biogenic Systems (CBS)
- Day-Impex (Dilvac)
- Cryotherm
- Haier Shengjie, Meling
Highlights of The Liquid Nitrogen Storage Equipment 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:
- Stainless Steel Tank
- Aluminum Tank
- Other Tank
- By Application:
- Labs and Education
- Pharma and Hospital
- Stem Cell and Blood Bank
- 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 Liquid Nitrogen Storage Equipment 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?
Liquid nitrogen storage equipment is a machine used to store liquid nitrogen. Liquid nitrogen is a cryogenic fluid that can be liquefied at very low temperatures and stored in tanks, cylinders, or other containers.
Some of the major players in the liquid nitrogen storage equipment market are Chart MVE, Thermo Scientific, Worthington Industries, Statebourne, CryoSafe, INOX India, Custom Biogenic Systems (CBS), Day-Impex (Dilvac), Cryotherm, Haier Shengjie, Meling.
The liquid nitrogen storage equipment market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Liquid Nitrogen Storage Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Liquid Nitrogen Storage Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Liquid Nitrogen Storage Equipment Market - Supply Chain
4.5. Global Liquid Nitrogen Storage Equipment Market Forecast
4.5.1. Liquid Nitrogen Storage Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Liquid Nitrogen Storage Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Liquid Nitrogen Storage Equipment Market Absolute $ Opportunity
5. Global Liquid Nitrogen Storage Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Type
5.3.1. Stainless Steel Tank
5.3.2. Aluminum Tank
5.3.3. Other Tank
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Liquid Nitrogen Storage Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Application
6.3.1. Labs and Education
6.3.2. Pharma and Hospital
6.3.3. Stem Cell and Blood Bank
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Liquid Nitrogen Storage Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Liquid Nitrogen Storage Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Liquid Nitrogen Storage Equipment Demand Share Forecast, 2019-2026
9. North America Liquid Nitrogen Storage Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Application
9.4.1. Labs and Education
9.4.2. Pharma and Hospital
9.4.3. Stem Cell and Blood Bank
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Type
9.7.1. Stainless Steel Tank
9.7.2. Aluminum Tank
9.7.3. Other Tank
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Liquid Nitrogen Storage Equipment Demand Share Forecast, 2019-2026
10. Latin America Liquid Nitrogen Storage Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Application
10.4.1. Labs and Education
10.4.2. Pharma and Hospital
10.4.3. Stem Cell and Blood Bank
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Type
10.7.1. Stainless Steel Tank
10.7.2. Aluminum Tank
10.7.3. Other Tank
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Liquid Nitrogen Storage Equipment Demand Share Forecast, 2019-2026
11. Europe Liquid Nitrogen Storage Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Application
11.4.1. Labs and Education
11.4.2. Pharma and Hospital
11.4.3. Stem Cell and Blood Bank
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Type
11.7.1. Stainless SteelTank
11.7.2. Aluminum Tank
11.7.3. Other Tank
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Liquid Nitrogen Storage Equipment Demand Share, 2019-2026
12. Asia Pacific Liquid Nitrogen Storage Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Application
12.4.1. Labs and Education
12.4.2. Pharma and Hospital
12.4.3. Stem Cell and Blood Bank
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Type
12.7.1. Stainless Steel Tank
12.7.2. Aluminum Tank
12.7.3. Other Tank
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Liquid Nitrogen Storage Equipment Demand Share, 2019-2026
13. Middle East & Africa Liquid Nitrogen Storage Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Liquid Nitrogen Storage Equipment Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Application
13.4.1. Labs and Education
13.4.2. Pharma and Hospital
13.4.3. Stem Cell and Blood Bank
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Liquid Nitrogen Storage Equipment Market Size and Volume Forecast by Type
13.7.1. Stainless Steel Tank
13.7.2. Aluminum Tank
13.7.3. Other Tank
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Liquid Nitrogen Storage Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Liquid Nitrogen Storage Equipment Market: Market Share Analysis
14.2. Liquid Nitrogen Storage Equipment Distributors and Customers
14.3. Liquid Nitrogen Storage Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Chart MVE
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Thermo Scientific
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Worthington Industries
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Statebourne
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. CryoSafe
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. INOX India
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Custom Biogenic Systems (CBS)
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Day-Impex (Dilvac)
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Cryotherm
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Haier Shengjie, Meling
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
