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LNG Storage Tank Market Growing at 7.9% CAGR to be Worth $14,224.27 Million by 2028 Global Analysis by The Insight Partners – Covers Impact of COVID-19 Pandemic

Worldwide LNG Storage Tank Market Analysis to 2028 is a specialized and in-depth study of the LNG Storage Tank Industry with a focus on the global market trend. The report aims to provide an overview of global LNG Storage Tank Market with detailed market segmentation by product/application and geography. The global LNG Storage Tank Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the LNG Storage Tank players and offers key trends and opportunities in the market.

The LNG storage tank market was valued at US$ 8,346.93million in 2021 and is projected to reach US$ 14,224.27 million by 2028; it is expected to grow at a CAGR of 7.9% from 2022 to 2028.

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Top Dominating Key Players:

  1. Air Water Inc.
  2. Chart Industries, Inc.
  3. CIMC Enric Holding Ltd.
  4. Cryolor (Air Liquide SA)
  5. IHI Corporation
  6. India Inox Pvt. Ltd.
  7. Isisan AS
  8. Linde Plc
  9. McDermott International Inc.
  10. Wartsila Corporation

The mounting readiness of liquefied natural gas (LNG) offers access to least carbon-intensive hydrocarbon among various coastal globally. The floating storage and regasification units (FSRU) terminal plays a significant role in the LNG value chain, developing the interface between the local gas supply infrastructure and the LNG carriers. The FSRU is convenient, adaptable, and avails natural gas to the market faster than land-based installations. The FSRU vessels are installed on ships or offshore, depending upon the design they integrate. The FSRUs are being equipped in two different ways: it is fitted either as an old gas carrier that can easily be converted into an independent unit placed in an offshore installation or installed as a separate unit aboard the LNG carrier itself. When the FSRU unit is installed in the ship, its construction is similar to other LNG ships undergoing LNG trading operation with regular dry-docking and complying with all the required international marine safety standards. The significant advantage of such installation is that the heating and liquefaction process is carried out within the vessel rather than unloading the fuel in its semi-frozen slushy state. Thus, the increasing application of FSRU is creating a massive opportunity for the growth of the LNG storage tanks market

Key Benefits:

  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global LNG Storage Tank Market.
  • To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the LNG Storage Tank Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the LNG Storage Tank Market segments and regions.

Scope of the study:

The research on the LNG Storage Tank Market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the LNG Storage Tank Market on the basis of end user, product type, application, and demography for the forecast period 2020 – 2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

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Reasons to Buy the Report:

  • Learn about the driving factors, affecting the market growth.
  • Imbibe the advancements and progress in the market during the forecast period.
  • Understand where the market opportunities lies.
  • Compare and evaluate various options affecting the market.
  • Pick up on the leading market players within the market.
  • Envision the restrictions and restrains that are likely to hamper the market.

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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