| Product Code: ETC4493980 | Publication Date: Jul 2023 | Updated Date: Nov 2025 | Product Type: Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
Saudi Arabia`s import trend for the cryogenic tanks market experienced significant growth from 2023 to 2024, with a remarkable increase of 129.01%. The compound annual growth rate (CAGR) for the period 2020-2024 stood at 35.63%. This surge in imports can be attributed to the increasing demand for cryogenic tanks in various industries, indicating a positive market momentum driven by industrial expansion and infrastructure development in the region.
Cryogenic tanks are designed to store liquefied gases, often at extremely low temperatures. This market includes various types of cryogenic tanks used for the storage and transportation of gases like LNG and liquid nitrogen in Saudi Arabia.
The Saudi Arabia Cryogenic Tanks market is on the rise as cryogenic tanks are crucial for storing and transporting liquefied gases. The growth is fueled by the need for safe and reliable cryogenic storage solutions, aligning with Saudi Arabia interests in the industrial gas and healthcare sectors.
In the cryogenic tanks market, the challenge lies in designing tanks that can withstand extremely low temperatures while ensuring efficient insulation and minimizing heat ingress. Maintaining the structural integrity of cryogenic tanks, especially in demanding applications like LNG storage and transportation, is crucial. Addressing thermal stresses, material selection, and minimizing potential leakages are ongoing challenges faced by manufacturers striving to meet the growing demand for cryogenic storage solutions.
The pandemic had a transformative impact on the market in Saudi Arabia. With an increased focus on online banking and financial services, organizations in the banking and finance sector sought comprehensive security solutions to protect customer data and transactions. The crisis underscored the importance of financial security.
Prominent companies in the Saudi Arabia cryogenic tanks market include Cryofab, Inc., INOXCVA, and Air Products and Chemicals, Inc., supplying cryogenic tanks for the storage and transportation of liquefied gases.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Saudi Arabia Cryogenic Tanks Market Overview |
3.1 Saudi Arabia Country Macro Economic Indicators |
3.2 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, 2021 & 2031F |
3.3 Saudi Arabia Cryogenic Tanks Market - Industry Life Cycle |
3.4 Saudi Arabia Cryogenic Tanks Market - Porter's Five Forces |
3.5 Saudi Arabia Cryogenic Tanks Market Revenues & Volume Share, By Raw Material, 2021 & 2031F |
3.6 Saudi Arabia Cryogenic Tanks Market Revenues & Volume Share, By Cryogenic Liquid, 2021 & 2031F |
3.7 Saudi Arabia Cryogenic Tanks Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Saudi Arabia Cryogenic Tanks Market Revenues & Volume Share, By End Use Industry, 2021 & 2031F |
4 Saudi Arabia Cryogenic Tanks Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for liquefied natural gas (LNG) in Saudi Arabia |
4.2.2 Growing adoption of cryogenic tanks in industrial gas applications |
4.2.3 Expansion of the healthcare sector leading to higher demand for medical gases stored in cryogenic tanks |
4.3 Market Restraints |
4.3.1 High initial investment required for installing cryogenic tank infrastructure |
4.3.2 Stringent regulations and safety standards for handling cryogenic gases |
5 Saudi Arabia Cryogenic Tanks Market Trends |
6 Saudi Arabia Cryogenic Tanks Market, By Types |
6.1 Saudi Arabia Cryogenic Tanks Market, By Raw Material |
6.1.1 Overview and Analysis |
6.1.2 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Raw Material, 2021-2031F |
6.1.3 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Steel, 2021-2031F |
6.1.4 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Nickel Alloy, 2021-2031F |
6.1.5 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Aluminum Alloy, 2021-2031F |
6.2 Saudi Arabia Cryogenic Tanks Market, By Cryogenic Liquid |
6.2.1 Overview and Analysis |
6.2.2 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Liquid Nitrogen, 2021-2031F |
6.2.3 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Liquefied Natural Gas (LNG), 2021-2031F |
6.2.4 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Liquid Hydrogen, 2021-2031F |
6.2.5 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Liquid Oxygen, 2021-2031F |
6.3 Saudi Arabia Cryogenic Tanks Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Storage, 2021-2031F |
6.3.3 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Transportation, 2021-2031F |
6.4 Saudi Arabia Cryogenic Tanks Market, By End Use Industry |
6.4.1 Overview and Analysis |
6.4.2 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Metal Processing, 2021-2031F |
6.4.3 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Energy Generation, 2021-2031F |
6.4.4 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Electronics, 2021-2031F |
6.4.5 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Medical Technology, 2021-2031F |
6.4.6 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Food & Beverage, 2021-2031F |
6.4.7 Saudi Arabia Cryogenic Tanks Market Revenues & Volume, By Water Treatment, 2021-2031F |
7 Saudi Arabia Cryogenic Tanks Market Import-Export Trade Statistics |
7.1 Saudi Arabia Cryogenic Tanks Market Export to Major Countries |
7.2 Saudi Arabia Cryogenic Tanks Market Imports from Major Countries |
8 Saudi Arabia Cryogenic Tanks Market Key Performance Indicators |
8.1 Average capacity utilization rate of cryogenic tanks in Saudi Arabia |
8.2 Number of infrastructure projects utilizing cryogenic tanks |
8.3 Percentage of industrial gas suppliers using cryogenic tanks in their operations |
9 Saudi Arabia Cryogenic Tanks Market - Opportunity Assessment |
9.1 Saudi Arabia Cryogenic Tanks Market Opportunity Assessment, By Raw Material, 2021 & 2031F |
9.2 Saudi Arabia Cryogenic Tanks Market Opportunity Assessment, By Cryogenic Liquid, 2021 & 2031F |
9.3 Saudi Arabia Cryogenic Tanks Market Opportunity Assessment, By Application, 2021 & 2031F |
9.4 Saudi Arabia Cryogenic Tanks Market Opportunity Assessment, By End Use Industry, 2021 & 2031F |
10 Saudi Arabia Cryogenic Tanks Market - Competitive Landscape |
10.1 Saudi Arabia Cryogenic Tanks Market Revenue Share, By Companies, 2024 |
10.2 Saudi Arabia Cryogenic Tanks Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |