How big is the cryogenic tank market | Trends, Size & Industry Outlook

Q: What is the market size of the cryogenic tank market in 2025 and projected for 2031? Cryogenic tank market is growing due to LNG adoption, medical gas demand, and industrial gas infrastructure expansion across multiple sectors.

The cryogenic tank market is valued at USD 6.3 billion in 2025and projected to reach USD 10.2 billion by 2031.

Q: What is the CAGR of the cryogenic tank market during 2025–2031?

The market is expected to grow at a CAGR of 7.1% from 2025 to 2031.

Q: What are the key trends in the cryogenic tank market?

Key trends of the cryogenic tank include increasing use of smart monitoring systems, modular tank designs, and the rise of eco-friendly materials.

Q: What are the major drivers of the cryogenic tank market?

Major drivers of cryogenic tank include rising demand for LNG, growth in industrial gas consumption, technological innovation, and expansion of healthcare services.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA5509

Publication Date: Jul 2025

What is the Cryogenic tank Market Size?

According to 6Wresearch internal database and industry insights, the Global Cryogenic Tanks Market was valued at USD 6.4 Billion in 2024 and is expected to reach USD 9.3 Billion by 2031, growing at a compound annual growth rate of 4.50% during the forecast period (2025-2031).

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Cryogenic tank market is experiencing notable growth due to the increasing demand for liquefied gases across various industries such as healthcare, energy, electronics, and food processing. The growing application of LNG in transportation and power generation, coupled with the rising investments in industrial gas production and distribution infrastructure, are significantly contributing to the expansion of this market. Additionally, strict regulatory norms for gas storage safety and technological advancements in tank insulation and materials are further driving the demand for cryogenic tanks globally.

Major Growth Factors of the Cryogenic tank Market

Rising demand for LNG across industrial and transportation sectors
Expansion of healthcare and medical gas applications
Increasing investments in industrial gas infrastructure
Technological advancements in tank materials and insulation
Growth in the food and beverage processing industry
Government initiatives promoting clean fuel alternatives
Expanding space and aerospace applications
Surge in electronics and semiconductor manufacturing activities

Cryogenic tank Market Trends

Cryogenic tank market is witnessing a surge in adoption of modular and customized tank designs tailored to specific end-user needs. There is a growing trend towards automation and digital monitoring systems in cryogenic tank systems to enhance operational efficiency and safety. Additionally, the market is also seeing increasing collaboration between manufacturers and energy companies for integrated LNG infrastructure development.

Emerging Developments in the Cryogenic tank Market

Cryogenic tank market is evolving with the integration of smart monitoring technologies and IoT-enabled systems that ensure real-time pressure and temperature control. Manufacturers are focusing on developing eco-friendly and lightweight composite materials for better thermal insulation. Furthermore, partnerships and joint ventures for regional expansion and LNG value chain development are becoming prominent among key players.