Home > Industrial Machinery > Industrial Equipment > Cryogenic Equipment > Asia Pacific Cryogenic Tanks Market
Asia Pacific Cryogenic Tanks Market Size
- Report ID: GMI6606
- Published Date: Sep 2023
- Report Format: PDF
Asia Pacific Cryogenic Tanks Market Size
Asia Pacific Cryogenic Tanks Market size was valued at USD 2.8 billion in 2023 and is projected to grow at of 6.1% CAGR from 2024 to 2032. Growing demand for LNG along with robust investments toward healthcare establishments will propel the industry outlook. The increasing efforts of the government to reduce greenhouse gas emissions coupled with the rising demand for unconventional sources of energy has also led to industry growth. Reforms pertaining to the modernization and expansion of networks to reduce the losses have nourished the global industry at a significant rate.
The large-scale suburban migration along with the ongoing investments toward refineries and chemical plants expansion has also enhanced the product demand. Additionally, research and development efforts have been focused on improving the efficiency and insulation of cryogenic tanks. Advancements in materials and design have led to tanks with better thermal insulation properties, reducing the loss of stored cryogenic liquids.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Cryogenic Tanks Market Size in 2023: | USD 2.8 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.1% |
| 2032 Value Projection: | USD 4.7 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 286 |
| Segments covered: | Raw Material, Cryogenic Liquid, Application and End-User, Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Asia Pacific Cryogenic Tanks Market Scope
