Mexico Cryogenic Tanks Market Size & Outlook, 2019-2027

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.

Liquid nitrogen is commonly used to freeze meats, including beef, pork, chicken, and fish, both raw and partially prepared, as well as fruits, vegetables, ice cream, and baked goods. A gas-based technique allows almost instant freezing to temperatures of -20 degrees or less, and the rapid temperature drop protects the flavor and taste of the product, which can otherwise dissipate with conventional freezing methods. This is driving the need for freezers and refrigerators, which eventually drives the demand for cryogenic tanks in the country.