Cryogenic Tanks Market to Grow at 7.01% CAGR to 2021: Analysis of Key Players, Trends, Drivers, & Challenges

Global Cryogenic Tanks Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Marketsizeforecasters.com adds new global cryogenic tanks market report that lists top active companies as Chart Industries, Cryofab, INOX India, Linde, VRV, and Wessington Cryogenics

Other Prominent Vendors in the market are: FIBA Technologies, Cryoquip, and Gardner Cryogenic

The report analysts forecast the global cryogenic tanks market to grow at a CAGR of 7.01% during the period 2017-2021.

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Commenting on the report, an analyst team said: “Cryogenic technology has improved at a rapid rate in the recent years. Intense research on cryogenics worldwide has led to technological advances that have broadened the scope of cryogenics in all major end-users such as medical, industrial, energy, and food processing. In the recent years, technologies such as hydrofracturing have boosted the oil and gas production to new heights. However, the environmental impact of this process has laid down concerns regarding the future of this technology. Researchers in the US have discovered a breakthrough technology; wherein water can be replaced with cryogenic fluids such as LN₂ or liquid CO₂. This technology can reduce water consumption in many processes, resulting in reduced groundwater pumping and elimination of flowback disposal that leads to induced seismicity. In addition, it reduces formation damage that occurs due to capillary trapping. Technavio expects that this technology would be a major breakthrough in the oil and gas industry in replacing hydrofracturing technique.”

According to the report, nitrogen is used in the food processing industry for preserving and freezing foods. Nitrogen-cooled freezers are replacing conventional refrigerants such as ammonia and fluorocarbons, which affect the environment. The food processing industry uses LN2 freezers to increase throughput and product quality. LN2 is used in various applications of food processing such as mixing, grinding, and coating applications. It is used in mixing to cool the temperature of sauces and gravies, and during grinding, as it helps to remove frictional heat to enhance grinding consistency. Although, the use of LN2 reduces aroma and flavor in functional foods, ingredients, and food additives, the advantages offered by LN2 score over the small disadvantage which can be overcome by external natural ingredients.

The listed pricing for this Global Cryogenic Tanks Market report starts at $ 3500. Request Discount for Global Cryogenic Tanks Market Research Report @ https://marketsizeforecasters.com/enquire-for-discount/13991

Further, the report states that in the recent years, the global demand for LNG has decreased due to several reasons such as sluggish electricity growth amidst continued robust deployment of renewables, persistence of warm weather, and revival of nuclear power stations. Asia, which was the largest importer of LNG, experienced low demand for the second consecutive year in 2015 due to the revival of nuclear power plants in South Korea and Japan, which are among the largest importers of LNG. The global LNG shipments accounted for 245 MMT in 2015, and the production rose by 1.6% to 250 MMT.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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