PUBLISHER: Grand View Research | PRODUCT CODE: 1530196
PUBLISHER: Grand View Research | PRODUCT CODE: 1530196
LNG Storage Tank Market Size & Trends
The global LNG storage tank market was estimated at USD 16.11 billion in 2023 and is expected to grow at a CAGR of 7.3% from 2024 to 2030. The increasing global demand for liquefied natural gas (LNG) as a cleaner energy source, particularly in power generation, transportation, and industrial applications, is a major driver. Expanding LNG production capacity, investments in liquefaction and regasification facilities, and growing LNG trade volumes are propelling the need for more storage infrastructure. Supportive government policies and regulations promoting the adoption of LNG to reduce carbon emissions are also propelling market growth.
Technological advancements in LNG storage tank design, materials, and construction techniques that enhance safety, efficiency, and reliability are further driving investments in new storage capacity. The rising focus on energy security and diversification of energy sources is another key factor underpinning the increasing demand for LNG storage tanks globally.
Global LNG Storage Tank Market Report Segmentation
This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global LNG storage tank market based on type, material, and region:
U.S.
Canada
Mexico
Germany
France
UK
Russia
Norway
Italy
China
Japan
India
Australia
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Kuwait
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