Germany Cryogenic Tanks Market Size & Outlook, 2019-2027
Germany cryogenic tanks market, 2016-2027 (US$M)
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Germany cryogenic tanks market highlights
- The Germany cryogenic tanks market generated a revenue of USD 264.2 million in 2019 and is expected to reach USD 362.4 million by 2027.
- The Germany market is expected to grow at a CAGR of 4% 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 264.2 million |
| Market revenue in 2027 | USD 362.4 million |
| Growth rate | 4% (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, Germany accounted for 4.6% 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 Europe, Germany cryogenic tanks market is projected to lead the regional market in terms of revenue in 2027.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 362.4 million by 2027.
Liquefied nitrogen was the largest segment with a revenue share of 32.1% in 2019. Horizon Databook has segmented the Germany 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.
The German cryogenic tanks market held a share of 23.68% of the overall European market in 2019. Germany is recognized as a hub for the manufacturing industry. Cryogenic tanks are used on a large scale in various manufacturing industries for the storage of cryogenic liquids, which is likely to propel the demand for cryogenic tanks in Germany.
However, the cryogenic tanks market in Germany is expected to face challenges amid the current COVID-19 pandemic. The cryogenic tanks market in Germany is also driven by the demand from the food & beverages industry.
Industrial gases, such as carbon dioxide, are extensively used in beer production and the consumption of beer is very high in Germany. According to Telegraph Media Group Limited, Germany was the fifth-largest nation in the world, in terms of beer consumption, in 2017, accounting for 8,218 thousand kiloliters.
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Cryogenic Tanks Market Scope
Cryogenic Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany cryogenic tanks market size, by cryogenic liquid, 2016-2027 (US$M)
Germany Cryogenic Tanks Market Outlook Share, 2019 & 2027 (US$M)
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