The research reports on “Cryogenic Tanks Market” report gives detailed overview of factors that affect global business scope. Cryogenic Tanks Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors.
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The Global Cryogenic Tanks Market size in 2019 was US$ 6.2 Billion in 2019 and is expected to reach US$ 8.1 Billion by 2024, at a CAGR of 5.5% between 2019 and 2024. This report spread across 147 Pages, Profiling 11 Companies and Supported with 121 Tables and 36 figures is now available in this research.
Top Key Players profiled in the Cryogenic Tanks Market:
- Chart Industries (US)
- Cryofab (US)
- INOX India (India)
- Linde PLC (UK)
- Air Products (US)
- Cryolor (France)
- Air Water (Japan)
- Wessington Cryogenics (UK)
- FIBA Technologies (US)
- ISISAN (Turkey)
“The steel segment is estimated to lead the cryogenic tanks market, by raw material, during the forecast period.”
Steel is primarily used in the manufacturing of cryogenic tanks. Most of the materials are ductile at room temperature and abruptly lose their ductility when a given threshold is exceeded. They then become brittle even at relatively low temperatures. The austenitic stainless steel is majorly used for working in low temperature range.
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“Liquid Nitrogen is the fastest-growing cryogenic liquid segment of the cryogenic tanks market.”
Liquid nitrogen is primarily used in the metal processing, food & beverage, electronics, and healthcare industries. The steel manufacturing industry is one of the major consumers of nitrogen. Nitrogen is used in the food & beverage industry for food preservation and packaging applications. The use of liquid nitrogen in this industry enables cost savings during storage and transportation and improves food quality.
Competitive Landscape of Cryogenic Tanks Market:
2 Competitive Leadership Mapping, 2018
2.1 Dynamic Differentiators
2.3 Visionary Leaders
2.4 Emerging Companies
2.5 Strength of Product Portfolio
2.6 Business Strategy Excellence
3 Market Ranking of Key Players, 2018
4 Competitive Scenario
4.1 New Product Launch
4.3 Merger & Acquisition and Contract & Agreement