Japan Cryogenic Tanks Market Size & Outlook, 2019-2027
Japan cryogenic tanks market, 2016-2027 (US$M)
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Japan cryogenic tanks market highlights
- The Japan cryogenic tanks market generated a revenue of USD 244.0 million in 2019 and is expected to reach USD 368.4 million by 2027.
- The Japan market is expected to grow at a CAGR of 5.3% from 2020 to 2027.
- In terms of segment, liquid natural gas (lng) 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 244.0 million |
| Market revenue in 2027 | USD 368.4 million |
| Growth rate | 5.3% (CAGR from 2019 to 2027) |
| Largest segment | Liquid natural gas (lng) |
| 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, Japan accounted for 4.3% 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 Asia Pacific, China cryogenic tanks market is projected to lead the regional market in terms of revenue in 2027.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,437.5 million by 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.
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Cryogenic Tanks Market Scope
Cryogenic Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan cryogenic tanks market size, by cryogenic liquid, 2016-2027 (US$M)
Japan Cryogenic Tanks Market Outlook Share, 2019 & 2027 (US$M)
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