Italy Cryogenic Tanks Market Size & Outlook, 2019-2027
Italy cryogenic tanks market, 2016-2027 (US$M)
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Italy cryogenic tanks market highlights
- The Italy cryogenic tanks market generated a revenue of USD 159.8 million in 2019 and is expected to reach USD 205.9 million by 2027.
- The Italy market is expected to grow at a CAGR of 3.2% 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 159.8 million |
| Market revenue in 2027 | USD 205.9 million |
| Growth rate | 3.2% (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, Italy accounted for 2.8% 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 30.04% in 2019. Horizon Databook has segmented the Italy 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.
Italy constitutes the smallest share of the cryogenic tanks market in Europe. However, the demand for of cryogenic tanks has increased in the country due to the increasing production & consumption of beer. As a result, the country has registered an increase in the number of microbreweries.
As of 2017, the number of microbreweries in the country was 850. The rubber industry is also a driving factor triggering the growth of the cryogenic tanks market in Italy. In 2016, Italy produced about 223,000 tons of general rubber goods.
GAPI S.p.A., a manufacturer, produces around 6 million pieces of rubber goods per day at its rubber division located in Italy. The growth in enduce industries is anticipated to augment the demand for cryogenic tanks in Italy.
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Cryogenic Tanks Market Scope
Cryogenic Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Italy cryogenic tanks market size, by cryogenic liquid, 2016-2027 (US$M)
Italy Cryogenic Tanks Market Outlook Share, 2019 & 2027 (US$M)
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