Cryogenic Tanks Market
carbon dioxide has been seen across the globe in the past few years . The number of on-site production plants for industrial gases is also on a rise globally . This factor will provide a huge boost to the global demand for a variety of cryogenic tanks , driving the global market .
High Manufacturing Costs and Improving Gas Pipeline Infrastructure to Hinder Growth
The cost of manufacturing cryogenic tanks is relatively higher as compared to a variety of other general-purpose tanks owing to the cutting-edge technology and the need for specific components and technical expertise . Stringent qualityand safety-related guidelines that need to be followed to manufacture and sell cryogenic tanks significantly add to the base cost of cryogenic tanks , restricting their adoption across numerous industries and applications . The high costs of cryogenic tanks are , therefore , expected to have a sizeable negative impact on the overall development of the global cryogenic tanks market in the next few years .
Along with this , the market is also expected to bear the brunt of the increased preference of industries to gas pipelines as an easier and safer mode of storing and transporting several gases . Across the globe , gas pipelines have significantly expanded in the past few years across key regional markets such as Europe , North America , and Central Asia . Many countries in Asia Pacific are taking measures to improve and expand the gas pipeline infrastructure so as to accommodate the mounting demand for natural gas . This factor is expected to have a notable impact on the overall development of the market over the forecast period .
This review of the market is based on a recent TMR market research report , titled “ Cryogenic Tanks Market - Global Industry Analysis , Size , Share , Growth Trends , and Forecast 2016 – 2024 .”
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For the study , the market has been segmented as follows : Global Cryogenic Tanks Market : Regional Analysis -North America -The U . S . -Canada -Europe -The U . K . -Germany
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