LNG Storage Tank Market Worth $17.5 Billion by 2025 - Exclusive Report by MarketsandMarkets™

Browse in-depth TOC on "LNG Storage Tank Market"58 – Tables32 – Figures116 – Pages Browse in-depth TOC on "LNG Storage Tank Market " 58 – Tables 32 – Figures 116 – Pages View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/lng-storage-tank-market-16169135.html#utm_source=PRNewswire&utm_medium=Referal&utm_campaign=PaidPR Self-supporting type to dominate the global LNG storage tank market during the forecast period The LNG...

Browse in-depth TOC on "LNG Storage Tank Market"
58 – Tables
32 – Figures
116 – Pages

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Self-supporting type to dominate the global LNG storage tank market during the forecast period

The LNG storage tank market has been segmented based on type as self-supporting, and non-self-supporting. The self-supporting segment accounted for the larger share of the market in 2019. The growth in this segment is attributed to the increasing use of this type of tanks because of the growing trade i.e. import and export of LNG across the globe and increase in the LNG bunkering facilities. These factors are expected to drive the demand for LNG storage tanks during the forecast period.

Steel material segment to dominate the global LNG storage tank market during the forecast period

The LNG storage tank market has been segmented based on material into steel, 9% nickel steel, aluminum alloy, and others. The steel segment accounted for the largest share of the market in 2019 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to its increasing LNG terminals and bunkering facilities, and increasing demand for LNG tanks on ships. These factors are expected to drive demand during the forecast period.

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APAC is expected to have the largest market size in the global LNG storage tank market during the forecast period

APAC is projected to be the leading LNG Storage Tank Market during the forecast period. The growth in the APAC region can be attributed to the rising demand for LNG from various end-use industries including energy, power and steel. The presence of a robust industrial base, favorable government policies, and low labor costs along with growing demand for LNG in the region are further strengthening the LNG storage tank market and attracting major players to invest in the region.

Linde Plc (Ireland), McDermott International Inc. (US), Wartsila (Finland), IHI Corporation (Japan), Air Water Inc. (Japan), Cimc Enric (China), Chart  Industries (US), Isisan A.S (Turkey), Cryolor (France), Inox  (India), Carbon Energy Group (US), and TransTech Energy Llc. (US), are the key players operating in the LNG storage tank market. 

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Browse Adjacent Markets: Equipment Machine and Tooling Market Research Reports & Consulting Related Reports :

Compressed Natural Gas (CNG) Tanks/Cylinders Market by Type (Type 1, Type 2, Type 3, Type 4), by Raw Materials (Metal, Glass Fiber, Carbon Fiber), by Vehicle Type (Light Duty, Medium Duty, Heavy Duty), & Region - Global Forecasts to 2020

Cryogenic Tanks Market by Raw Material (Steel, Nickel Alloy), Cryogenic Liquid (Liquid Nitrogen, LNG), Application (Storage, Transportation), End-use Industry (Metal Processing, Energy Generation, Electronics), and Region - Global Forecast to 2024

Small-Scale LNG Market by Type (Liquefaction Terminal and Regasification Terminal), Application (Heavy-Duty Vehicles, Marine Transport, and Industrial and Power), and Region (North America, Europe, Asia-Pacific, South America) - Global Forecast to 2022

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