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Transparency Market Research Cryogenic Tanks Market (Product Type - LNG, Nitrogen, Oxygen, and Argon; Application - Storage and Transportation) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024

Published Date 22-Nov-2016

146 Page Report

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Global Cryogenic Tanks Market: Usage in Storage Application to Bring in Significant Revenue, says TMR

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Cryogenic Tanks Market

REPORT DESCRIPTION Cryogenic Tanks Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024 The competitive landscape of the global market for cryogenic tanks appears to be largely fragmented on a whole owing to the presence of a large number of OEMs and raw material suppliers. However, it is a notably consolidated market in regional pockets as most of the dominant players operate at regional levels, observes a recent report by Transparency Market Research. The considerable backlog of orders with OEMs indicate that the market is experiencing stagnancy and significant growth challenges. High manufacturing costs, sensitive raw material costs, and a lack of affordable skilled labor are further intensifying growth challenges in the market.

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Manufacturers are increasingly focusing on ways to combat these challenges and exploit the vast growth opportunities that the market offers. Some of the key players in the market are Cryogas Equipment Private Ltd., VRV S.p.A, Cryoquip Australia, Eden Cryogenics LLC, Cryofab Inc., and FNF Gas Technology Products Private Ltd. Demand across Asia Pacific to Continue to Contribute Bulk of Revenues Transparency Market Research estimates that the global cryogenic tanks market will exhibit a healthy 7.7% CAGR over the period between 2016 and 2024. At this rate, the market, which valued at US$740.2 mn in 2015, is expected to reach US$1,433.0 mn in 2024. Geographically, the Asia Pacific market represents the dominant consumer of cryogenic tanks and is expected to remain the dominant contributor of revenue to the global market over the forecast period as well, exhibiting an 8.4% CAGR. In terms of application, the storage segment accounted for over 80% of the market in 2015 and is expected to retain dominance over the forecast period as well. Rising Set of Applications of Industrial Gases to Fuel Demand Design specifications of cryogenic tanks make them the most efficient and safest means of transportation and storage of liquefied form of several industrial gases such as nitrogen, liquefied natural gas (LNG), oxygen, and argon. Inland and offshore transportation and on-site and off-site storage of these gases constitute a big chunk of the overall revenue of the global cryogenic tanks market.

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Cryogenic Tanks Market

The market will also benefit over the forecast period from the continuous rise in the array of industrial gas applications. A vast rise in the number of production plants producing industrial gases such as nitrogen, oxygen, helium, argon, and carbon dioxide has been seen across the globe in the past few years. The number of on-site production plants for industrial gases is also on a rise globally. This factor will provide a huge boost to the global demand for a variety of cryogenic tanks, driving the global market. High Manufacturing Costs and Improving Gas Pipeline Infrastructure to Hinder Growth The cost of manufacturing cryogenic tanks is relatively higher as compared to a variety of other general-purpose tanks owing to the cutting-edge technology and the need for specific components and technical expertise. Stringent qualityand safety-related guidelines that need to be followed to manufacture and sell cryogenic tanks significantly add to the base cost of cryogenic tanks, restricting their adoption across numerous industries and applications. The high costs of cryogenic tanks are, therefore, expected to have a sizeable negative impact on the overall development of the global cryogenic tanks market in the next few years.

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Along with this, the market is also expected to bear the brunt of the increased preference of industries to gas pipelines as an easier and safer mode of storing and transporting several gases. Across the globe, gas pipelines have significantly expanded in the past few years across key regional markets such as Europe, North America, and Central Asia. Many countries in Asia Pacific are taking measures to improve and expand the gas pipeline infrastructure so as to accommodate the mounting demand for natural gas. This factor is expected to have a notable impact on the overall development of the market over the forecast period. This review of the market is based on a recent TMR market research report, titled “Cryogenic Tanks Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.�

For the study, the market has been segmented as follows: Global Cryogenic Tanks Market: Regional Analysis -North America -The U.S. -Canada -Europe

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-The U.K. -Germany -France -Rest of Europe -Asia Pacific -China -India -Japan -Australia -Rest of Asia Pacific -Middle East & Africa -Qatar -Oman -UAE -Egypt -Rest of Middle East & Africa -Latin America -Brazil -Mexico -Rest of Latin America

Global Cryogenic Tanks Market: By Product Type -Liquefied Natural Gas (LNG) -Nitrogen -Oxygen

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-Argon

Global Cryogenic Tanks Market: By Application -Storage -Transportation

TABLE OF CONTENT Section 1 Preface  1.1. Report Scope and Market Segmentation

1.2. Research Highlights 1.3. Research Objectives 1.4. Key Questions Answered 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Acronyms Used 3. Executive Summary 3.1. Global Cryogenic Tanks Market Size, By Market Value (US$ Mn) and Market Value Share, By Region 3.2. Market Size, Indicative (US$ Mn) 3.3. Top Trends 4. Market Overview 4.1. Product Overview 4.2. Market Indicators 5. Market Dynamics 5.1. Drivers and Restraints Snapshot Analysis 5.1.1. Drivers 5.1.2. Restraints 5.1.3. Opportunities 5.2. Porter’s Analysis 5.2.1. Threat of Substitutes 5.2.2. Threat of Buyers 5.2.3. Threat of New Entrants

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5.2.4. Threat of Suppliers 5.2.5. Degree of Competition 5.3. Value Chain Analysis 5.4. Global Cryogenic Tanks Market Outlook 6. Global Cryogenic Tanks Market Analysis, By Product Type 6.1. Key Findings 6.2. Introduction 6.3. Cryogenic Tanks Market Forecast, By Product Type 6.4. Cryogenic Tanks Market Value Share Analysis, By Product Type 6.5. Liquefied Natural Gas (LNG) 6.6. Nitrogen 6.7. Oxygen 6.8. Argon 7. Global Cryogenic Tanks Market Analysis, By Application 7.1. Key Findings 7.2. Introduction 7.3. Cryogenic Tanks Market Forecast, By Product Type 7.4. Cryogenic Tanks Market Value Share Analysis, By Product Type 7.5. Storage 7.6. Transportation 8. Global Cryogenic Tanks Market Analysis, By Region 8.1. Global Regulatory Scenario 8.2. Global Cryogenic Tanks Market Forecast, By Region 8.3. Global Cryogenic Tanks Market Value Share Analysis, By Region 8.4. Global Cryogenic Tanks Market Attractiveness Analysis, By Region 9. North America Cryogenic Tanks Market Analysis 9.1. Key Findings 9.2. North America Cryogenic Tanks Market Overview 9.3. North America Cryogenic Tanks Market Forecast, By Product Type 9.4. North America Cryogenic Tanks Market Value Share Analysis, By Product Type 9.5. North America Cryogenic Tanks Market Forecast, By Application 9.6. North America Cryogenic Tanks Market Value Share Analysis, By Application 9.7. North America Cryogenic Tanks Market Forecast, By Country 9.8. North America Cryogenic Tanks Market Value Share Analysis, By Country

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9.9. U.S. Cryogenic Tanks Market Analysis 9.10. Canada Cryogenic Tanks Market Analysis 10. Europe Cryogenic Tanks Market Analysis 10.1. Key Findings 10.2. Europe Cryogenic Tanks Market Overview 10.3. Europe Cryogenic Tanks Market Forecast, By Product Type 10.4. Europe Cryogenic Tanks Market Value Share Analysis, By Product Type 10.5. Europe Cryogenic Tanks Market Forecast, By Application 10.6. Europe Cryogenic Tanks Market Value Share Analysis, By Application 10.7. Europe Cryogenic Tanks Market Forecast, By Country 10.8. Europe Cryogenic Tanks Market Value Share Analysis, By Country 10.9. U.K. Cryogenic Tanks Market Analysis 10.10. Germany Cryogenic Tanks Market Analysis 10.11. France Cryogenic Tanks Market Analysis 10.12. Rest of Europe Cryogenic Tanks Market Analysis 11. Asia Pacific Cryogenic Tanks Market Analysis 11.1. Key Findings 11.2. Asia Pacific Cryogenic Tanks Market Overview 11.3. Asia Pacific Cryogenic Tanks Market Forecast, By Product Type 11.4. Asia Pacific Cryogenic Tanks Market Value Share Analysis, By Product Type 11.5. Asia Pacific Cryogenic Tanks Market Forecast, By Application 11.6. Asia Pacific Cryogenic Tanks Market Value Share Analysis, By Application 11.7. Asia Pacific Cryogenic Tanks Market Forecast, By Country 11.8. Asia Pacific Cryogenic Tanks Market Value Share Analysis, By Country 11.9. China Cryogenic Tanks Market Analysis 11.10. India Cryogenic Tanks Market Analysis 11.11. Japan Cryogenic Tanks Market Analysis 11.12. Australia Cryogenic Tanks Market Analysis 11.13. Rest of Asia Pacific Cryogenic Tanks Market Analysis 12. Middle East & Africa Cryogenic Tanks Market Analysis 12.1. Key Findings 12.2. Middle East & Africa Cryogenic Tanks Market Overview 12.3. Middle East & Africa Cryogenic Tanks Market Forecast, By Product Type 12.4. Middle East & Africa Cryogenic Tanks Market Value Share Analysis, By Product Type 12.5. Middle East & Africa Cryogenic Tanks Market Forecast, By Application

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12.6. Middle East & Africa Cryogenic Tanks Market Value Share Analysis, By Application 12.7. Middle East & Africa Cryogenic Tanks Market Forecast, By Country 12.8. Middle East & Africa Cryogenic Tanks Market Value Share Analysis, By Country 12.9. Qatar Cryogenic Tanks Market Analysis 12.10. Oman Cryogenic Tanks Market Analysis 12.11. UAE Cryogenic Tanks Market Analysis 12.12. Egypt Cryogenic Tanks Market Analysis 12.13. Rest of Middle East & Africa Cryogenic Tanks Market Analysis 13. Latin America Cryogenic Tanks Market Analysis 13.1. Key Findings 13.2. Latin America Cryogenic Tanks Market Overview 13.3. Latin America Cryogenic Tanks Market Forecast, By Product Type 13.4. Latin America Cryogenic Tanks Market Value Share Analysis, By Product Type 13.5. Latin America Cryogenic Tanks Market Forecast, By Application 13.6. Latin America Cryogenic Tanks Market Value Share Analysis, By Application 13.7. Latin America Cryogenic Tanks Market Forecast, By Country 13.8. Latin America Cryogenic Tanks Market Value Share Analysis, By Country 13.9. Brazil Cryogenic Tanks Market Analysis 13.10. Mexico Cryogenic Tanks Market Analysis 13.11. Rest of Latin America Cryogenic Tanks Market Analysis 14. Competition Landscape 14.1. Global Cryogenic Tanks Market Leading Players Analysis, By Region (2015) 14.2. Competition Matrix 14.2.1. Linde AG 14.2.2. INOX CVA 14.2.3. FIBA Technologies, Inc. 14.2.4. Suretank Group Ltd. 14.3. Company Profiles 14.3.1. Linde AG 14.3.1.1. Company Details 14.3.1.2. Company Description 14.3.1.3. Business Overview 14.3.1.4. SWOT Analysis 14.3.1.5. Financial Details 14.3.1.6. Strategic Overview

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14.3.2. Cryogas Equipment Private Ltd. 14.3.2.1. Company Details 14.3.2.2. Company Description 14.3.2.3. Business Overview 14.3.3. VRV S.p.A. 14.3.3.1. Company Details 14.3.3.2. Company Description 14.3.3.3. Business Overview 14.3.4. Cryoquip Australia 14.3.4.1. Company Details 14.3.4.2. Company Description 14.3.4.3. Business Overview 14.3.5. Eden Cryogenics, LLC 14.3.5.1. Company Details 14.3.5.2. Company Description 14.3.5.3. Business Overview 14.3.6. FIBA Technologies, Inc. 14.3.6.1. Company Details 14.3.6.2. Company Description 14.3.6.3. Business Overview 14.3.7. Cryofab, Inc. 14.3.7.1. Company Details 14.3.7.2. Company Description 14.3.7.3. Business Overview 14.3.8. Gardner Cryogenics 14.3.8.1. Company Details 14.3.8.2. Company Description 14.3.8.3. Business Overview 14.3.9. INOX India Pvt. Ltd. 14.3.9.1. Company Details 14.3.9.2. Company Description 14.3.9.3. Business Overview 14.3.10. Suretank Group Ltd. 14.3.10.1. Company Details 14.3.10.2. Company Description 14.3.10.3. Business Overview

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Cryogenic Tanks Market - Global Industry Analysis, Size, Share, Forecast 2016 – 2024  

Cryogenic Tanks Market was valued at US$740.2 mn in 2015 and is expected to reach US$1,433.0 mn in 2024, expanding at a CAGR of 7.7% between...

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