LNG Storage Tank Market Global Demand, Research and Top Leading Player to 2027
Stratview Research delivers key insights on the global LNG Storage Tank Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the LNG Storage Tank Market:
Linde Plc
Mcdermott International Inc.
Wärtsilä
IHI Corporation
Air Water Inc.
Cimc Enric
Chart Industries
Isisan A.S.
Cryolor
Inox India.
Growth drivers and Market Value:
This report, from Stratview Research, studies the LNG Storage Tank Market value and growth drivers over the trend period of 2022-27. According to the report -
LNG storage tank market is likely to witness an impressive CAGR of 6.9% during the forecast period. The demand for LNG storage tanks is driven mainly by the increasing demand for LNG in power, energy, and steel end-use industries.
Based on Product Type:
Based on the product type, the market is segmented as self-supporting and non-self–supporting. The self-supporting segment held the larger share of the market in 2021, and is expected to remain dominant during the forecast period. The significant share of the self-supporting segment is attributed to the growing demand for LNG in the power and energy end-use industries.
Based on Region:
In terms of regions, Asia-Pacific is projected to be the largest and fastest-growing market for LNG storage tanks during the forecast period. The Asia-Pacific’s market is expected to grow with a lucrative CAGR due to the rising demand from various end-use industries, such as energy, power, and steel. High adoption from developing economies such as China and India are expected to boost the market in the Asia-Pacific region.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for LNG Storage Tank Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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