LNG Storage Tank Sector: Growth Drivers and Challenges
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 |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.4% |
|
Base Year Market Size (2024) |
USD 16.6 billion |
|
Forecast Year Market Size (2037) |
USD 41.99 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of LNG storage tank is evaluated at USD 17.64 billion.
LNG Storage Tank Market size was valued at USD 16.6 billion in 2024 and is set to exceed USD 41.99 billion by 2037, registering over 7.4% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is expected to dominate majority revenue share by 2037, propelled by growing investments for the construction of LNG bunkering facilities and rising use of natural gas in several end-user industries.
The major players in the market are McDermott International Inc., Linde Plc, Air Water Inc., IHI Corporation, Chart Industries, Inc., and others.
