Global LNG Storage Tank Market Insights, Forecast to 2028

A liquefied natural gas storage tank or LNG storage tank is a specialized type of storage tank used for the storage of Liquefied Natural Gas. LNG storage tanks can be found in ground, above ground or in LNG carriers. The common characteristic of LNG Storage tanks is the ability to store LNG at the very low temperature of -162 °C (-260 °F). LNG storage tanks have double containers, where the inner contains LNG and the outer container contains insulation materials. The most common tank type is the full containment tank.Tanks vary greatly in size, depending on usage.
Market Analysis and Insights: Global LNG Storage Tank Market
Due to the COVID-19 pandemic, the global LNG Storage Tank market size is estimated to be worth US$ 14380 million in 2022 and is forecast to a readjusted size of US$ 20550 million by 2028 with a CAGR of 6.1% during the review period. Fully considering the economic change by this health crisis, Steel accounting for % of the LNG Storage Tank global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Self-Supporting segment is altered to an % CAGR throughout this forecast period.
China LNG Storage Tank market size is valued at US$ million in 2021, while the US and Europe LNG Storage Tank are US$ million and US$ million, severally. The proportion of the US is % in 2021, while China and Europe are % and % respectively, and it is predicted that China proportion will reach % in 2028, trailing a CAGR of % through the analysis period. Japan, South Korea, and Southeast Asia are noteworthy markets in Asia, with CAGR %, %, and % respectively for the next 6-year period. As for the Europe LNG Storage Tank landscape, Germany is projected to reach US$ million by 2028 trailing a CAGR of % over the forecast period.
The global key manufacturers of LNG Storage Tank include Linde, McDermott, Wartsila, IHI, Air Water, Cimc Enric, Chart Industries and Isisan, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
In terms of production side, this report researches the LNG Storage Tank capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of LNG Storage Tank by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global LNG Storage Tank Scope and Segment
LNG Storage Tank market is segmented by Type and by Application. Players, stakeholders, and other participants in the global LNG Storage Tank market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
Steel
9% Nickel Steel
Aluminum Alloy
Others (7% nickel steel, concrete)
Segment by Application
Self-Supporting
Non Self-Supporting
By Company
Linde
McDermott
Wartsila
IHI
Air Water
Cimc Enric
Chart Industries
Isisan
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

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