DUBLIN--(BUSINESS WIRE)--The "LNG Storage Tank Market by Type (Self-Supporting, Non Self-Supporting), Material (Steel, 9% Nickel Steel, Aluminum Alloy), Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Increasing demand from steel, energy, and power end-use industries to drive the overall growth of the LNG storage tank market
The LNG storage tank market is driven by various factors, such as increasing demand for LNG from steel, power, and energy end-use industries, and growing transportation of LNG on ships. The growth of these industries is expected to further propel the growth of the market during the forecast period. However, the high construction cost and installation cost of the LNG storage tank are likely to hinder the growth of the market.
Self-supporting segment to drive the global market during the forecast period
The LNG storage tank market has been segmented on the basis of types as self-supporting and non-self-supporting. Among these types, the self-supporting segment accounted for the larger share of the market during the forecast period. The market growth in this segment is attributed to growing LNG trade and an increase in LNG liquefaction and regasification facilities. These factors are expected to drive demand during the forecast period.
Steel segment expected to account for the largest market share during the forecast period
The steel segment is growing rapidly owing to the various properties of steel such as durability, resistance to corrosion, excellent toughness, and low thermal conductivity at cryogenic temperatures, which will drive the demand for steel. Furthermore, steel is used for applications requiring refrigeration or the creation of low-temperature conditions for the storage of liquefied natural gas.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to have the highest growth rate during the forecast period due to significant developments in energy and power end-use industries, and the growing trade of LNG, which drives the LNG storage tank market in the region. On the other hand, North America is projected to have the second-largest market size during the forecast period.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall LNG storage tank market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.2 Base Number Calculation
2.3 Market Size Estimation
2.4 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the LNG Storage Tank Market
4.2 LNG Storage Tank Market, By Region
4.3 LNG Storage Tank Market in APAC, By Country and Material, 2019
4.4 LNG Storage Tank Market, By Country
5 Market Overview
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
6 LNG Storage Tank Market, By Type
6.3 Non-Self-Supporting Tanks
7 LNG Storage Tank Market, By Material
7.3 9% Nickel Steel
7.4 Aluminum Alloy
8 LNG Storage Tank Market, By Region
8.3 North America
8.5 Middle East & Africa
8.6 South America
9 Competitive Landscape
9.2 Market Ranking of Key Players
9.3 Competitive Scenario
10 Company Profiles
10.1 Linde Plc
10.2 Mcdermott International Inc.
10.4 IHI Corporation
10.5 Air Water Inc.
10.6 Cimc Enric
10.7 Chart Industries
10.8 Isisan A.S.
10.10 Inox India
10.11 Other Players
10.11.1 Vijay Tanks and Vessels Ltd.
10.11.2 Corban Energy Group
10.11.3 Luxi New Energy Equipment Group Co. Ltd.
10.11.4 Vinci Construction
10.11.5 MHI Engineering and International Project India Ltd.
10.11.6 Lloyds Energy
10.11.7 Transtech Energy Llc.
10.11.9 Cryogas Equipment Pvt. Ltd.
10.11.13 Sener Group
10.11.14 Maverick Engineering Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hoak3q