Mexico Cryogenic Tanks Market Size & Outlook, 2019-2027
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Mexico cryogenic tanks market highlights
- The Mexico cryogenic tanks market generated a revenue of USD 100.0 million in 2019 and is expected to reach USD 134.7 million by 2027.
- The Mexico market is expected to grow at a CAGR of 3.8% 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 100.0 million |
| Market revenue in 2027 | USD 134.7 million |
| Growth rate | 3.8% (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, Mexico accounted for 1.8% 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 North America, U.S. cryogenic tanks market is projected to lead the regional market in terms of revenue in 2027.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 1,690.0 million by 2027.
Liquefied nitrogen was the largest segment with a revenue share of 30.1% in 2019. Horizon Databook has segmented the Mexico 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.
In 2019, Mexico held a revenue share of 7.05% of the North American cryogenic tanks market. Food & beverages and healthcare are some of the major application segments of the cryogenic tanks market in Mexico.
The increasing government expenditure on the healthcare system of the country is anticipated to continue rising over the forecast period. The expansion of the healthcare industry in Mexico is projected to stimulate growth in the cryogenic tanks market owing to the increasing use of cryogenic tanks in various healthcare-related R&D and clinical applications.
Industrial gases have been used in the Mexican food industry for ages. These gases find a considerable number of applications, including use in flash freezing, beverage carbonation, fruit ripening, and shelf-life extension, among others.
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Cryogenic Tanks Market Scope
Cryogenic Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Eden Cryogenics | View profile | - | Plain City, Ohio, United States, North America | https://edencryogenics.com/ |
| Suretank Group | View profile | 101-250 | Dunleer, Louth, Ireland, Europe | http://www.suretank.com |
| FIBA Technologies, Inc. | View profile | 251-500 | Littleton, Massachusetts, United States, North America | http://fibatech.com |
| Super Cryogenic Systems | View profile | 11-50 | Noida, Uttar Pradesh, India, Asia | https://www.supercryo.in |
| Cryofab | View profile | 51-100 | Kenilworth, New Jersey, United States, North America | http://www.cryofab.com/ |
| Cryolor | View profile | 251-500 | Ennery, Picardie, France, Europe | https://www.cryolor.com |
| INOX India Pvt Ltd | View profile | 251-500 | Vadodara, Gujarat, India, Asia | http://www.inoxindia.com |
| Wessington Cryogenics | View profile | 101-250 | Houghton Le Spring, Durham, United Kingdom, Europe | https://wessingtoncryogenics.com/ |
| Linde PLC | View profile | 66195 | 10 Riverview Drive, Danbury, CT, United States, 06810 | https://www.linde.com |
| Air Water Inc | View profile | 26566 | 12-8, Minami Semba 2-chome, Chuo-ku, Osaka, Japan, 542-0081 | http://www.awi.co.jp |
| Chart Industries Inc | View profile | 11637 | 2200 Airport Industrial Drive, Suite 100, Ball Ground, GA, United States, 30107 | https://www.chartindustries.com |
| Air Products & Chemicals Inc | View profile | 23000 | 1940 Air Products Boulevard, Allentown, PA, United States, 18106-5500 | https://www.airproducts.com |
Mexico cryogenic tanks market size, by cryogenic liquid, 2016-2027 (US$M)
Mexico Cryogenic Tanks Market Outlook Share, 2019 & 2027 (US$M)
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