Brazil Cryogenic Tanks Market Size & Outlook, 2019-2027
Brazil cryogenic tanks market, 2016-2027 (US$M)
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Brazil cryogenic tanks market highlights
- The Brazil cryogenic tanks market generated a revenue of USD 198.0 million in 2019 and is expected to reach USD 264.0 million by 2027.
- The Brazil market is expected to grow at a CAGR of 3.7% from 2020 to 2027.
- In terms of segment, liquefied nitrogen was the largest revenue generating cryogenic liquid in 2019.
- Liquefied Nitrogen is the most lucrative cryogenic liquid segment registering the fastest growth during the forecast period.
Cryogenic tanks market data book summary
| Market revenue in 2019 | USD 198.0 million |
| Market revenue in 2027 | USD 264.0 million |
| Growth rate | 3.7% (CAGR from 2019 to 2027) |
| Largest segment | Liquefied nitrogen |
| Fastest growing segment | Liquefied Nitrogen |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Liquefied Nitrogen, Liquid Natural Gas (LNG), Liquid Hydrogen, Liquid Oxygen |
| Key market players worldwide | Chart Industries Inc, INOX India Pvt Ltd, Linde PLC, Air Products & Chemicals Inc, Cryolor, Air Water Inc, Wessington Cryogenics, Cryofab, Super Cryogenic Systems, FIBA Technologies, Inc., Suretank Group, Eden Cryogenics |
Other key industry trends
- In terms of revenue, Brazil accounted for 3.5% of the global cryogenic tanks market in 2019.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Latin America, Brazil cryogenic tanks market is projected to lead the regional market in terms of revenue in 2027.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 264.0 million by 2027.
Liquefied nitrogen was the largest segment with a revenue share of 32.12% in 2019. Horizon Databook has segmented the Brazil cryogenic tanks market based on liquefied nitrogen, liquid natural gas (lng), liquid hydrogen, liquid oxygen covering the revenue growth of each sub-segment from 2016 to 2027.
Brazil is the largest South American economy and is a part of BRICS. Industrial developments across the country have provided new applications for the cryogenic tanks market. The petrochemical industry in Brazil is recovering from recession and economic crisis. According to the Federation of Industries of the State of Rio de Janeiro, 44 offshore production systems are scheduled to be operational by 2030.
Industrial gases such as CO2 is largely used in these systems for the extraction of oil and gas. Rapidly expanding oil & gas sector is anticipated to drive the demand for the storage of cryogenic liquids, thus driving the market for cryogenic tanks in Brazil in the coming years.
The Brazilian food & beverages industry is one of the major contributors to the country’s economy. Brazil is a leading exporter of agricultural products, juices, fruits, and alcohol. The growing export activities in the country promote the use of cryogenic tanks for preservation and cooling purposes, which is likely to propel the demand for cryogenic tanks in the country over the forecast period.
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Cryogenic Tanks Market Scope
Cryogenic Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil cryogenic tanks market size, by cryogenic liquid, 2016-2027 (US$M)
Brazil Cryogenic Tanks Market Outlook Share, 2019 & 2027 (US$M)
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