Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Cryogenic Tanks Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Expected Market Growth Rates for the Cryogenic Tanks Market?
The historical growth trend in the Cryogenic Tanks Global Market Report 2025 showed that the market size has been increasing steadily over the years. The market size increased from $7.34 billion in 2024 to $7.64 billion in 2025. This growth corresponds to a compound annual growth rate (CAGR) of 4.2%.
What Are the Expected Market Growth Trends for the Cryogenic Tanks Market Through 2029?
The Cryogenic Tanks Global Market is projected to reach a size of $10 billion in 2029, growing at a compound annual growth rate (CAGR) of 6.9%.
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What Are the Key Business Drivers in the Cryogenic Tanks Market Landscape?
The key drivers in the cryogenic tanks market are:
• Rapid expansion of long infrastructure and hydrogen economy
• Increased utilization in biotechnology, pharmaceutical sectors and advancements in space exploration
• Expansion of medical cryopreservation applications
• Technological innovations in tank design, advancements in tank insulation and lightweight materials
How Is the Cryogenic Tanks Market Divided Across Key Categories?
The cryogenic tanks market covered in this report is segmented –
1) By Cryogenic Liquid: Liquefied Natural Gas (LNG), Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen, Other Cryogenic Liquids
2) By Raw Material: Steel, Nickel Alloy, Aluminum Alloy, Other Raw Materials
3) By Application: Storage, Transportation
4) By End-User: Manufacturing, Healthcare, Food Industry, Other End-Users
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What Are the Ongoing Trends in the Cryogenic Tanks Market?
The key trends in the cryogenic tanks market are:
• Technological innovation in cryogenic tank design is an emerging trend.
• Advances in healthcare technologies are influencing the future of the market.
• There is a growing trend towards improving cryogenic tank insulation technologies.
• The focus on lightweight materials is a significant future trend shaping the market.
Which Companies are Expanding in the Cryogenic Tanks Industry?
Major players in the cryogenic tanks market are:
• Linde Plc
• Air Products And Chemicals Inc.
• Messer Group GmbH
• Chart Industries Inc.
• Cryolor Asia Pacific Private Limited
• INOX India Pvt. Ltd.
• UIG Holdings Inc.
• FIBA Technologies Inc.
• Taylor-Wharton International LLC
• Air Water Inc.
• VRV Asia Pacific Private Limited
• Acme Cryogenics Inc.
• Wessington Cryogenics
• Auguste Cryogenics
• Gardner Cryogenic Inc.
• Cryoquip Inc.
• Super Cryogenic Systems Pvt. Ltd.
• Technex Limited
• Cryofab Inc.
• Cryomech Inc.
• Cryeng Group Pty Ltd.
• CryoVation LLC
• Brymill Cryogenic Systems
• Cryogas Equipment Private Limited
• Herose GmbH
• Isisan A.S.
• Cryostar SAS
• Cryo Systems Manufacturing
• Cryo Diffusion S.A.
• FNF Gas Technology Products Pvt. Ltd.
Which is the Largest Region the Global Cryogenic Tanks Market?
Asia-Pacific was the largest region in the cryogenic tanks market in 2024
