Storage Dewar and Dry Shipper Market Projected To Register 5.9% CAGR To 2031

Transparency Market Research delivers key insights on the consolidated North America, Europe, and Asia Pacific storage Dewar and dry shipper market. In terms of revenue, the consolidated North America, Europe, and Asia Pacific storage Dewar and dry shipper market is estimated to expand at a CAGR of over 5.9% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the market report.

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In this market report, TMR predicts the rapid growth in healthcare, pharmacy, and food processing sector, along with increasing usage of cryogenic gases for handling, prolonged storage, processing, and mobility of vital biological materials and other life science components to have a noteworthy impact on the overall storage Dewar and dry shipper market. The world is experiencing third and fourth waves of COVID-19 and has observed surge in positive cases. Demand for oxygen has increased heavily in both government and private healthcare institutions, which is escalating the demand for storage Dewar and dry shippers and the market is witnessing robust growth over the past few years.

A storage Dewar and dry shipper is defined as a specialized vacuum flask that is available in various forms including open buckets, flasks with self-pressurizing tanks, and loose-fitting stoppers. Cryogenic Dewar store, dispense, or transport cryogenic gases such as liquid nitrogen, liquid oxygen, liquid helium, and liquid hydrogen.
Key manufacturers of storage Dewar and dry shippers continuously focus on investment in research & development to introduce innovative products. Prominent players in the storage Dewar and dry shipper market are engaging with clients by offering them customized solutions. Key players promoting several innovative designs with attractive features, insulation, and energy saving technology are likely to drive the growth of the storage Dewar and dry shipper market.

The storage Dewar and dry shipper market is driven by an increase in use of liquid nitrogen and other gases in laboratories and chemical plants. Expansion of metal manufacturing and chemical industries in both upcoming and mature economies is likely to offer significant opportunities for the storage Dewar market during the forecast period. Furthermore, increasing demand for liquid nitrogen as a coolant and refrigerant in different applications such as metal fabrication, health care, rubber & plastic, food & beverage, electronics, automotive, construction, and pharmaceuticals is expected to propel the market in the next few years.

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Food & beverage, metal & fabrication, and electronics companies require storage Dewar to store industrial gases, such as carbon dioxide, and liquid nitrogen in their premises for applications in their manufacturing facilities, which in turn is driving the demand for storage Dewar.

In terms of product, the storage Dewar and dry shipper market has been segmented into bench-top, and free standing. In recent years, extensive adoption of free standing storage Dewar and dry shippers in several application areas due to its feasibility, minimal space requirement, and easy mobility is likely to drive the market. Free standing storage Dewar and dry shippers are majorly used by the healthcare sector, which is encouraging the growth of the storage Dewar and dry shipper market. The market on the basis of liquid N2 storage capacity is likely to remain popular by 1-20 liters owing to its increasing usage in the healthcare sector for storage of vaccinations, and cryopreservation solutions widely used for banking cells and tissues intended for transplantation. In terms of material, the market is likely to remain dominant by stainless steel due to its easy availability, anti-corrosion, and lightweight property. In terms of application, the healthcare sector is expected to remain dominant in the storage Dewar and dry shipper market owing to increasing usage of cryogenic solutions for performing several tasks.

The market on the basis of distribution channel is likely to driven by the B2B segment as most end-users find it to be a convenient channel for procuring storage Dewar as it provides huge discounts on bulk sales, and provides several options while purchasing storage Dewar and dry shippers.

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Storage Dewar and Dry Shipper Market: Prominent Regions
Geographically, Asia Pacific led the storage Dewar and dry shipper market in 202,0 and the region is expected to retain its dominance during the forecast period. Rising preference for storage Dewar and dry shippers in countries such as Japan, India, China, Australia, and in Southeast Asia, is encouraging the growth of the market. Apart from Asia Pacific, Europe also significantly contributes to the growth of the consolidated North America, Europe, and Asia Pacific storage Dewar and dry shipper market. The U.K., Germany, Italy, and France are considered the major markets for storage Dewar and dry shippers in Europe. In addition, increasing popularity of storage Dewar and dry shippers along with rising dependency of users on cryogenic solutions is promoting the growth of the market.

Storage Dewar and Dry Shipper Market: Key Players
The competition landscape of the storage Dewar and dry shipper market is moderately fragmented with leading players accounting for majority of the revenue share.
Key players operating in the consolidated North America, Europe and Asia Pacific market include Air Products and Chemicals, Inc., Haier Biomedical, Cole-Parmer Instrument Company, LLC, BOC Limited, and Thermo Fisher Scientific.

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