Europe Type-C Tanks Market
No. of Pages: 143 | Report Code: BMIRE00030625 | Category: Manufacturing and Construction
No. of Pages: 143 | Report Code: BMIRE00030625 | Category: Manufacturing and Construction
The Europe Type-C tanks market was valued at US$ 4,061.18 million in 2022 and is expected to reach US$ 6,732.25 million by 2030; it is estimated to register at a CAGR of 6.5% from 2022 to 2030. Growing Demand for Small-Scale Liquefied Gas Drives Europe Type-C Tanks Market
The rising demand for fuel that is more environmentally friendly than diesel and oil from the shipping and trucking industries has surged the demand for small-scale liquefied gas. Small-scale liquefied gas is useful for short to medium-distance transportation, specifically for domestic trade. The growing application of small-scale liquefied gas is one of the promising factors that is boosting the usage of independent Type-C containment systems or tanks, which are generally leveraged for small-scale liquefied gas cargo transportation. For instance, for a bi-lobe Type-C LPG/LNG/LEG vessel, there may be four bi-lobe tanks mounted inside a carrier, with each tank having end saddle supports. One end and the other part are primarily designed to slide in a longitudinal direction to balance the effect of thermal contraction or expansion caused by the temperature change of the tanks. Furthermore, in remote areas, where pipelines are not viable or economically feasible, the demand for small-scale LNG transportation among end users, including land-based industries, power generation plants, and suppliers of LNG as fuel for vehicles or ships, is mounting. Thus, this rising demand is anticipated to impact the Type-C tank market positively.Europe Type-C tanks market Overview
North America has a robust and dynamic type-C tank market, mainly driven by the thriving oil & natural gas industry. In North America, the US is leading the way. In the US, dry natural gas production reached a record high of 0.80 trillion cubic feet in 2022, primarily due to advancements in horizontal drilling and hydraulic fracturing techniques. This surge in production, especially in shale, sandstone, carbonate, and other tight geologic formations, has increased the region's gas production. Type-C tanks play a vital role in the transportation of liquefied gases, including liquefied natural gas (LNG), liquefied petroleum gas (LPG), liquid ethylene gas (LEG) , ammonia, and hydrogen. Canada is the fourth-largest producer of oil and the sixth-largest producer of natural gas worldwide. Alberta, in particular, stands out as a leading oil producer in the country, accounting for ~80% of the total oil production. With vast oil and gas reserves, Alberta presents significant opportunities for the use of type-C tanks in oil and gas transportation processes. Quebec, with its undeveloped natural gas resources, holds notable opportunities for adopting type-C tanks in transportation services.
Mexico, a major player in the global oil industry, ranks among the largest oil producers worldwide. With substantial crude oil reserves and a significant refining capacity, Mexico holds promising growth opportunities for type-C tank market players. The country heavily relies on imports of heavy crude oil from the US while exporting refined petroleum products, creating a need for type-C tanks in the transportation and processing of these resources. Thus, the type-c tank market in North America is characterized by a strong demand from the thriving oil and gas production across the US and Mexico. As these countries continue to invest in energy exploration and production, type-C tanks will play a crucial role in the transportation and processing of oil and natural gas resources.
Europe Type-C Tanks Market Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the Europe Type-C Tanks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Type-C Tanks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Report Attribute
Details
Market size in 2022
US$ 4,061.18 Million
Market Size by 2030
US$ 6,732.25 Million
Global CAGR (2022 - 2030)
6.5%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Tank Type
By Application
Regions and Countries Covered
Europe
Market leaders and key company profiles
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1. Linde Plc
2. IHI Corp
3. McDermott International Ltd
4. China Intonational Marine Containers (Group) Co Ltd
5. Lapesa Grupo Empresarial SL
6. Furuise Europe Co SL
7. INOX India Pvt Ltd
8. China Shipbuilding Trading Co Ltd
9. MAN Energy Solutions SE
10. Gas and Heat SpA
11. Mitsubishi Heavy Industries Ltd
12. Broadview Energy Solutions BV
13. Cryonorm BV
14. Transworld Equipment Corp
15. ISISAN AS
16. Wartsila Corp
17. Chart Industries Inc
18. Absolut Hydrogen SAS
19. Gloryholder Liquefied Gas Machinery Co Ltd
20. TaylorWharton America Inc
The Europe Type-C Tanks Market is valued at US$ 4,061.18 Million in 2022, it is projected to reach US$ 6,732.25 Million by 2030.
As per our report Europe Type-C Tanks Market, the market size is valued at US$ 4,061.18 Million in 2022, projecting it to reach US$ 6,732.25 Million by 2030. This translates to a CAGR of approximately 6.5% during the forecast period.
The Europe Type-C Tanks Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Type-C Tanks Market report:
The Europe Type-C Tanks Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Type-C Tanks Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Type-C Tanks Market value chain can benefit from the information contained in a comprehensive market report.
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