LNG Storage Tank Market Report 2024 (Global Edition)

28 Oct.,2024

 

LNG Storage Tank Market Report (Global Edition)

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Global LNG Storage Tank Market Report Market Size Split by Type (Potable Water, Wastewater, Industrial Wastewater, Fire Protection, Plumbing & Engineering Solution), by Material Type (Fiberglass,...

According to Cognitive Market Research, the global LNG Storage Tank market size will be USD 15.6 billion in and will expand at the compound annual growth rate (CAGR) of 7.9% from the year to .

Preview of Global LNG Storage Tank Market Revenue

LNG Storage Tank Market Size, CAGR and Industry Statistics

Base Year Historical Data Time Period- Forecast Period- Global LNG Storage Tank Market Sales Revenue $ 15.6 Billion Global LNG Storage Tank Market Compound Annual Growth Rate (CAGR) for to .9% Market Drivers:

The increasing technological advancements in storage solutions are anticipated to drive the LNG Storage Tank market's expansion in the years ahead.

Market Restrains:
  • The significant capital expenditure required for constructing and maintaining LNG storage tanks can help the LNG Storage Tank industry growth.
  • The market also faces significant difficulties related to safety and regulatory challenges.

Industry segmentation can be altred as per your needs. For example, we can proivde cross slipt between Potable Water with Material Type, Storage Capacity, additional country analysis, volume/consumption data, etc.

LNG Storage Tank Market Report Scope

Market Split by Type
  • Potable Water
  • Wastewater
  • Industrial Wastewater
  • Fire Protection
  • Plumbing & Engineering Solution
Market Split by Material Type
  • Fiberglass
  • Steel
  • Concrete Built-in Place
  • Precast
  • Polymer
Market Split by Storage Capacity
  • 5
  • 001 To 50
  • 000 L
  • 50
  • 001 To 250 000 L
  • Above 250
  • 000 L
Market Split by End Use
  • Municipal
  • Industrial
  • Commercial
  • Residential
Market Split by Installation Type
  • Above Ground
  • Under Ground
List of Competitors
  • Vijay Tanks and Vessels Ltd
  • Corban Energy Group
  • Luxi New Energy Equipment Group Co. Ltd
  • Vinci Construction
  • MHI Engineering and International Project India Ltd
  • Lloyds Energy
  • Transtech Energy LLC
  • Cryocan
  • Cryogas Equipment Pvt. Ltd.
  • Whessoe
  • Confidential Data
  • Access The Paid Version
  • Data Hidden
Regional Analysis
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa
Country Analysis
  • North America (United States, Canada, Mexico)
  • Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium, Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
  • South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
  • Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)
Key Qualitative Information Covered
  • Market Trends
  • Market Drivers
  • Market Restraints
  • Market Opportunity
  • Market Attractiveness Analysis
  • COVID&#;19 Impact and Recovery Analysis
  • PESTEL Analysis
  • Porter&#;s Five Forces Analysis
  • Product Life Cycle
  • Industrial Chain Analysis
  • Patent Analysis
  • ESG Analysis

Report scope is customizable as we have a huge database of LNG Storage Tank industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.

LNG Storage Tank Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!

LNG Storage Tank Market Report Description

Introduction of the LNG Storage Tank Market

The LNG Storage Tank Market is crucial for the energy sector, providing essential infrastructure for the storage and transportation of the liquefied natural gas (LNG). LNG, valued for its high energy density and lower environmental impact, when compared to other fossil fuels, necessitates specialized storage solutions to maintain its cryogenic state at -162°C. The market includes various types of storage tanks, such as above-ground, underground, and floating tanks, each designed to meet the specific safety and regulatory standards. Growth in this market is fueled by the increasing global demand for cleaner energy sources, the expansion of LNG export and import facilities, and technological advancements in tank design and materials. However, high initial investments and stringent safety regulations present significant challenges. Despite these hurdles, the LNG storage tank market is poised for the steady growth, supported by ongoing investments in LNG infrastructure and the transition towards more sustainable energy solutions worldwide.

Market Dynamics of LNG Storage Tank Market

Key Drivers for LNG Storage Tank Market

  • Expansion of LNG Infrastructure - The expansion of LNG infrastructure is another significant driver for the LNG storage tank market. Investments in LNG import and export terminals, regasification and liquefaction facilities, and transportation networks are escalating globally. These infrastructure projects are critical to facilitating the efficient and safe handling, storage, and the distribution of LNG. Regions such as Asia-Pacific and Europe are witnessing robust infrastructure development to cater to the growing consumption and trade of LNG. Moreover, emerging economies are increasingly investing in LNG infrastructure to diversify their energy sources and enhance energy security.
  • The increasing technological advancements in storage solutions are anticipated to drive the LNG Storage Tank market's expansion in the years ahead.

Key Restraints for LNG Storage Tank Market

  • The significant capital expenditure required for constructing and maintaining LNG storage tanks can help the LNG Storage Tank industry growth.
  • The market also faces significant difficulties related to safety and regulatory challenges.

We have various report editions of LNG Storage Tank Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

LNG Storage Tank Market Insights Video

In May , CIMC Enric successfully developed the first domestic liquid helium storage tank container of 40 feet, representing China's first large-scale liquid helium storage and transportation equipment from localized high-end manufacturing. Designed and manufactured in accordance with the ASME standard, it has passed various stringent tests, such as the liquid helium cryogenic type test and the road transportation test conducted by the BV Classification Society.

(Source: https://en.enricgroup.com/companyupdate/50)

Top Companies Market Share in LNG Storage Tank Industry: (In no particular order of Rank)

  • Vijay Tanks and Vessels Ltd
  • Corban Energy Group
  • Luxi New Energy Equipment Group Co. Ltd
  • Vinci Construction
  • MHI Engineering and International Project India Ltd
  • Lloyds Energy
  • Transtech Energy LLC
  • Cryocan
  • Cryogas Equipment Pvt. Ltd.
  • Whessoe
  • Confidential Data
  • Access The Paid Version
  • Data Hidden
*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive)

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of LNG Storage Tank Market

Which Region Dominates the LNG Storage Tank Market in ?

According to Cognitive Market Research, North America dominated the market in . It accounted for around 40% of global revenue due to its extensive natural gas reserves, robust infrastructure for LNG production and export, and high demand for cleaner energy sources. The region's strategic investments in LNG terminals and regulatory support further bolster its leadership in LNG storage capacity and technology innovation.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the LNG Storage Tank market due to increasing energy demand, rapid industrialization, and infrastructure development across countries like China, India, and Japan. Government initiatives promoting cleaner energy sources and expanding LNG import terminals are driving substantial investments in LNG storage infrastructure in the region.

The current report Scope analyzes LNG Storage Tank Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on

  • North America (United States, Canada, Mexico)
  • Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
  • Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
  • South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
  • Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

LNG Storage Tank Market Share (%) by Region (-)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

LNG Storage Tank Market Analysis

Global LNG Storage Tank Market Report Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing LNG Storage Tank Industry growth. LNG Storage Tank market has been segmented with the help of its Type, Material Type Storage Capacity, and others. LNG Storage Tank market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

Type Segment Analysis of LNG Storage Tank Market

Based on present and future trends, the market size is estimated from to . Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for LNG Storage Tank market.

Type of LNG Storage Tank analyzed in this report are as follows:

  • Potable Water
  • Wastewater
  • Industrial Wastewater
  • Fire Protection
  • Plumbing & Engineering Solution

LNG Storage Tank Market Share (%) by Type in -

If you want to learn more, please visit our website LNG Storage Tank Manufacturers.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of LNG Storage Tank Industry. Request a Free Sample PDF!

LNG Storage Tank Market Material Type Segment Analysis

According to cognitive market research, steel is the dominant category due to its robustness, reliability, and cost-effectiveness in handling cryogenic temperatures and high-pressure conditions. Steel offers excellent mechanical properties required to withstand the extreme environments associated with LNG storage, ensuring structural integrity and safety over long operational lifespans. Moreover, advancements in steel manufacturing techniques have improved material strength and corrosion resistance, further enhancing its suitability for LNG storage applications. Steel's widespread availability, established performance track record, and compatibility with regulatory requirements contribute to its dominant position in the market for LNG storage tanks. .

LNG Storage Tank Market Share (%) by Material Type in -

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the LNG Storage Tank market report Edition by contacting our team.

LNG Storage Tank Storage Capacity Segment Analysis

  • 5
  • 001 To 50
  • 000 L
  • 50
  • 001 To 250 000 L
  • Above 250
  • 000 L

LNG Storage Tank End Use Segment Analysis

  • Municipal
  • Industrial
  • Commercial
  • Residential

LNG Storage Tank Installation Type Segment Analysis

  • Above Ground
  • Under Ground

Author's Detail

Vinayak Bali

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

Bio :

Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.

I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.

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Author's Conclusion

Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.

The Global LNG Storage Tank Market is witnessing significant growth in the near future.

In , the Potable Water segment accounted for noticeable share of global LNG Storage Tank Market and is projected to experience significant growth in the near future.

The Fiberglass segment is expected to expand at the significant CAGR retaining position throughout the forecast period.

Some of the key companies Vijay Tanks and Vessels Ltd , Luxi New Energy Equipment Group Co. Ltd and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.

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