Russia Cryogenic Tanks Market Size & Outlook, 2019-2027
Russia cryogenic tanks market, 2016-2027 (US$M)
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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.
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Cryogenic Tanks Market Scope
Cryogenic Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Russia cryogenic tanks market size, by cryogenic liquid, 2016-2027 (US$M)
Russia Cryogenic Tanks Market Outlook Share, 2019 & 2027 (US$M)
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