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LNG Storage Tank Market Trends

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Report ID: 3173
Published Date: Sep 16, 2024
Report Format: PDF, PPT

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LNG Storage Tank Market Trends

Growth Drivers

Growing Demand for LNG in Energy and Power Industries
Increasing Production of Natural Gas

Challenges

High Competition to LNG from Fossil and Renewable Energy Sources

LNG Storage Tank Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	7.4%
Base Year Market Size (2023)	USD 15.46 billion
Forecast Year Market Size (2036)	USD 39.11 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

LNG Storage Tank Market Size, Growth Analysis 2036

Author Credits: Dhruv Bhatia

Report ID: 3173
Published Date: Sep 16, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major growth drivers for the market are growing demand for LNG in energy and power industries and increasing production of natural gas.

The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 â€“ 2030.

High competition to LNG from fossil and renewable energy sources is estimated to hamper the market growth.

Asia Pacific will provide more business opportunities to the market on the back of rising investments for the construction of LNG bunkering facilities and increasing usage of natural gas in several end-user industries in the region.

The major players in the market are McDermott International Inc., Linde Plc, Air Water Inc., IHI Corporation, Chart Industries, Inc., and others.

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