Russia Cryogenic Tanks Market Size & Outlook, 2027

Revenue, 2019 (US$M)

$226.3

Forecast, 2027 (US$M)

$306.2

CAGR, 2020 - 2027

3.9%

Report Coverage

Russia

Russia cryogenic tanks market, 2016-2027 (US$M)

Related Markets

Global Cryogenic Tanks Industry Outlook

North America Cryogenic Tanks Market Outlook

U.S. Cryogenic Tanks Market Outlook

Canada Cryogenic Tanks Market Outlook

Mexico Cryogenic Tanks Market Outlook

Europe Cryogenic Tanks Market Outlook

Germany Cryogenic Tanks Market Outlook

Italy Cryogenic Tanks Market Outlook

UK Cryogenic Tanks Market Outlook

Asia Pacific Cryogenic Tanks Market Outlook

Japan Cryogenic Tanks Market Outlook

China Cryogenic Tanks Market Outlook

India Cryogenic Tanks Market Outlook

Australia Cryogenic Tanks Market Outlook

Latin America Cryogenic Tanks Market Outlook

Argentina Cryogenic Tanks Market Outlook

Brazil Cryogenic Tanks Market Outlook

MEA Cryogenic Tanks Market Outlook

Saudi Arabia Cryogenic Tanks Market Outlook

UAE Cryogenic Tanks Market Outlook

Russia cryogenic tanks market highlights

The Russia cryogenic tanks market generated a revenue of USD 226.3 million in 2019 and is expected to reach USD 306.2 million by 2027.
The Russia market is expected to grow at a CAGR of 3.9% 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 226.3 million
Market revenue in 2027	USD 306.2 million
Growth rate	3.9% (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, Russia accounted for 4.0% 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.

Liquid natural gas (lng) was the largest segment with a revenue share of 32.39% in 2019. Horizon Databook has segmented the Russia 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.

Russia is one of the largest producers of natural gas and a major energy exporter. Its economy is mainly dependent on natural gas and oil revenues, which account for over one-third of the federal budget. The medical industry of Russia is also of vital importance. The growing emphasis on public healthcare sector is expected to boost the demand for cryogenic tanks in medical applications in Russia over the forecast period.

Key Regions: U.S. , UK , Japan , Brazil , UAE