Japan Cryogenic Tanks Market Size & Outlook, 2019-2027

Liquid natural gas (lng) was the largest segment with a revenue share of 32.25% in 2019. Horizon Databook has segmented the Japan 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.

Japan is recognized as a developed and technologically advanced economy. Over the years, the Japanese electronics industry was the richest and most innovative sector in the global electronics market.

In the past few years, it has been observed that Japanese companies are losing their traditional market share to its competitive in china another Asian countries, however owing to the recent outbreak of COVID-19 and supportive Japanese government policies for electronics industry, Japanese electronics industry is expected to gain back momentum in the coming years, which is expected to drive the demand for cryogenic liquid and, in turn, cryogenic tanks.

The universal health insurance system of the country is expected to promote the growth of the healthcare industry in Japan. In addition, the rising government expenditure is further projected to drive market growth. The healthcare industry uses cryogenic tanks for storage liquid nitrogen, liquid oxygen, Co2, which are used for various application, which is expected to promote the growth of the market.