Global LNG Storage Tank
Market Report
2025
The global LNG Storage Tank market size is USD 15.6 billion in 2024. The LNG Storage Tank market will show the strongest growth along with the compound annual growth rate (CAGR) of 7.9% from the year 2024 to 2031. This growth can be because of the growing demand for natural gas.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global LNG Storage Tank market size will be USD 15.6 billion in 2024 and will expand at the compound annual growth rate (CAGR) of 7.9% from the year 2024 to 2031.
2021 | 2025 | 2033 | CAGR | |
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Global LNG Storage Tank Market Sales Revenue | 121212 | 121212 | 121212 | 7.9% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Application |
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Market Split by Material Type |
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Market Split by Storage Capacity |
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Market Split by End Use |
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Market Split by Installation Type |
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Market Split by Design |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers: The increasing technological advancements in storage solutions are anticipated to drive the LNG Storage Tank market's expansion in the years ahead. | |
Market Restrains:
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Report scope is customizable as we have a huge database of LNG Storage Tank industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
LNG Storage Tank Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The LNG Storage Tank Market is crucial for the energy sector, providing essential infrastructure for the storage and transportation of the liquefied natural gas (LNG). LNG, valued for its high energy density and lower environmental impact, when compared to other fossil fuels, necessitates specialized storage solutions to maintain its cryogenic state at -162°C. The market includes various types of storage tanks, such as above-ground, underground, and floating tanks, each designed to meet the specific safety and regulatory standards. Growth in this market is fueled by the increasing global demand for cleaner energy sources, the expansion of LNG export and import facilities, and technological advancements in tank design and materials. However, high initial investments and stringent safety regulations present significant challenges. Despite these hurdles, the LNG storage tank market is poised for the steady growth, supported by ongoing investments in LNG infrastructure and the transition towards more sustainable energy solutions worldwide.
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In May 2022, CIMC Enric successfully developed the first domestic liquid helium storage tank container of 40 feet, representing China's first large-scale liquid helium storage and transportation equipment from localized high-end manufacturing. Designed and manufactured in accordance with the ASME standard, it has passed various stringent tests, such as the liquid helium cryogenic type test and the road transportation test conducted by the BV Classification Society.
(Source: https://en.enricgroup.com/companyupdate/50)
Top Companies Market Share in LNG Storage Tank Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of global revenue due to its extensive natural gas reserves, robust infrastructure for LNG production and export, and high demand for cleaner energy sources. The region's strategic investments in LNG terminals and regulatory support further bolster its leadership in LNG storage capacity and technology innovation.
Asia-Pacific stands out as the fastest-growing region in the LNG Storage Tank market due to increasing energy demand, rapid industrialization, and infrastructure development across countries like China, India, and Japan. Government initiatives promoting cleaner energy sources and expanding LNG import terminals are driving substantial investments in LNG storage infrastructure in the region.
The current report Scope analyzes LNG Storage Tank Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global LNG Storage Tank Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing LNG Storage Tank Industry growth. LNG Storage Tank market has been segmented with the help of its Application , Material Type Storage Capacity, and others. LNG Storage Tank market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the current trends and future market projects, LNG Storage Tank market size is projected from 2019 to 2031, with both quantitative and qualitative analysis based on the Application segmentation analysis of the LNG Storage Tank. This helps to understand the fastest-growing segments, such as industrial robots, electric motors, material handling systems, or construction equipment, and others. Type segment analysis gives detailed insights into the factors driving growth, such as technological innovations, automation, and energy efficiency. For instances segments like smart machinery and electric-powered equipment are becoming more popular as industries move towards sustainable and cost-effective solutions.
To better understand the performance of each Application segment, several factors are considered. These include technological advancements like IoT and AI integration, changes in consumer demand for more energy-efficient or customizable operation and pricing trends driven by raw material costs and labor. Regulatory impacts also play a role, especially with environmental and safety regulations. This type of analysis offers a clear view of how different types will evolve over time, helping businesses make smarter decisions on investments and strategies. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Application of LNG Storage Tank analyzed in this report are as follows:
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According to cognitive market research, steel is the dominant category due to its robustness, reliability, and cost-effectiveness in handling cryogenic temperatures and high-pressure conditions. Steel offers excellent mechanical properties required to withstand the extreme environments associated with LNG storage, ensuring structural integrity and safety over long operational lifespans. Moreover, advancements in steel manufacturing techniques have improved material strength and corrosion resistance, further enhancing its suitability for LNG storage applications. Steel's widespread availability, established performance track record, and compatibility with regulatory requirements contribute to its dominant position in the market for LNG storage tanks. .
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Research Associate at Cognitive Market Research
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global LNG Storage Tank Market is witnessing significant growth in the near future.
In 2023, the LNG Regasification Terminals segment accounted for noticeable share of global LNG Storage Tank Market and is projected to experience significant growth in the near future.
The Steel segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Vijay Tanks and Vessels Ltd , Luxi New Energy Equipment Group Co. Ltd and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Application | LNG Regasification Terminals, LNG Distribution Terminals, LNG Storage and Transshipment Terminals, Floating LNG (FLNG) Vessels |
Material Type | Steel, Concrete, Aluminum, Composite Materials |
Storage Capacity | Less than 160, 000 cubic meters, 160, 000 to 250, 000 cubic meters, 250, 000 to 500, 000 cubic meter, More than 500, 000 cubic meters |
End Use | Municipal, Industrial, Commercial, Residential |
Installation Type | Above Ground, Under Ground |
Design | Single-Containment Tanks, Double-Containment Tanks, Full-Containment Tanks |
List of Competitors | Vijay Tanks and Vessels Ltd, Corban Energy Group, Luxi New Energy Equipment Group Co. Ltd, Vinci Construction, MHI Engineering and International Project India Ltd, Lloyds Energy, Transtech Energy LLC, Cryocan, Cryogas Equipment Pvt. Ltd., Whessoe |
This chapter will help you gain GLOBAL Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review Global LNG Storage Tank Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review North America LNG Storage Tank Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review Europe LNG Storage Tank Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review Asia Pacific LNG Storage Tank Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review South America LNG Storage Tank Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review Middle East LNG Storage Tank Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of LNG Storage Tank. Further deep in this chapter, you will be able to review Middle East LNG Storage Tank Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of LNG Storage Tank. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Application Analysis 2019 -2031, will provide market size split by Application . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Application Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Material Type Analysis 2021 - 2033
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Chapter 12 Market Split by Storage Capacity Analysis 2021 - 2033
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Chapter 13 Market Split by End Use Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 14 Market Split by Installation Type Analysis 2021 - 2033
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Chapter 15 Market Split by Design Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global LNG Storage Tank market
Chapter 16 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 17 Research Methodology and Sources
Why LNG Regasification Terminals have a significant impact on LNG Storage Tank market? |
What are the key factors affecting the LNG Regasification Terminals and LNG Distribution Terminals of LNG Storage Tank Market? |
What is the CAGR/Growth Rate of Steel during the forecast period? |
By type, which segment accounted for largest share of the global LNG Storage Tank Market? |
Which region is expected to dominate the global LNG Storage Tank Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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