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Global Liquid Nitrogen Storage Tank Market Size is expected to experience a CAGR of 6.50% through 2024 - 2031, according to industry projections.

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The "Liquid Nitrogen Storage Tank Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Liquid Nitrogen Storage Tank market is expected to grow annually by 6.50% (CAGR 2024 - 2031).

This entire report is of 182 pages.

Liquid Nitrogen Storage Tank Introduction and its Market Analysis

The global Liquid Nitrogen Storage Tank market research report analyzes current market conditions to provide insights into the industry. Liquid Nitrogen Storage Tank is used for storing liquid nitrogen at very low temperatures for various applications. The target market includes industries such as healthcare, biotechnology, and research. Major factors driving revenue growth include increasing demand for cryogenic storage solutions and technological advancements in the field. Key players in the market include Chart MVE, Thermo Scientific, Worthington Industries, Statebourne, and others. The report's main findings highlight the growing adoption of cryogenic storage solutions and recommend companies to focus on product innovation and expanding their market presence.

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The liquid nitrogen storage tank market offers a variety of options such as stainless steel tanks, aluminum tanks, and other tanks to cater to different industry needs. These tanks find applications in labs and education, pharma, hospitals, stem cell and blood banks, and other sectors. Regulatory and legal factors specific to market conditions play a crucial role in ensuring the safety and compliance of these tanks. Companies operating in this market must adhere to stringent regulations and standards to guarantee the proper storage and maintenance of liquid nitrogen. It is essential for businesses to stay updated on the latest regulatory requirements to avoid any potential risks and ensure the seamless operation of their storage tank systems.

Top Featured Companies Dominating the Global Liquid Nitrogen Storage Tank Market

The liquid nitrogen storage tank market is highly competitive with key players such as Chart MVE, Thermo Scientific, Worthington Industries, Statebourne, CryoSafe, INOX India, Custom Biogenic Systems (CBS), Day-Impex (Dilvac), Cryotherm, Haier Shengjie, and Meling.

Chart MVE specializes in the manufacture of cryogenic storage tanks and has a strong presence in the market due to its innovative designs and high-quality products. Thermo Scientific is a leading provider of scientific equipment and services, including liquid nitrogen storage tanks. Worthington Industries is known for its expertise in pressure tanks and cryogenic equipment. Statebourne is a UK-based company with a wide range of storage solutions for biological samples. CryoSafe offers a range of cryogenic storage solutions for both research and clinical applications.

INOX India, Custom Biogenic Systems (CBS), Day-Impex (Dilvac), Cryotherm, Haier Shengjie, and Meling are also key players in the liquid nitrogen storage tank market, each offering unique products and services catered to the specific needs of their customers.

These companies help to grow the liquid nitrogen storage tank market by constantly innovating their products to meet the evolving needs of the industry. They also provide excellent customer service and support, ensuring that their clients are satisfied with their purchases. Additionally, these companies often partner with research institutions, pharmaceutical companies, and biotech firms to create customized storage solutions, further expanding their market reach.

In terms of sales revenue, Chart MVE reported annual revenue of approximately $200 million, Thermo Scientific reported revenue of $ billion, and Worthington Industries reported revenue of $3.5 billion. These figures highlight the significant contribution these companies make to the liquid nitrogen storage tank market.

  • Chart MVE
  • Thermo Scientific
  • Worthington Industries
  • Statebourne
  • CryoSafe
  • INOX India
  • Custom Biogenic Systems (CBS)
  • Day-Impex (Dilvac)
  • Cryotherm
  • Haier Shengjie, Meling
  • Meling

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Liquid Nitrogen Storage Tank Market Analysis, by Type:

  • Stainless Steel Tank
  • Aluminum Tank
  • Other Tank

Liquid nitrogen storage tanks are available in various materials such as stainless steel, aluminum, and other options. Stainless steel tanks are known for their durability and resistance to corrosion, making them a popular choice for industrial applications. Aluminum tanks are lightweight and offer good thermal conductivity, making them suitable for transportation purposes. Other tanks may include materials like carbon steel or plastic. The availability of different types of tanks caters to a wide range of needs and preferences, thereby boosting the demand for liquid nitrogen storage tanks in various industries. Each type of tank offers specific advantages that cater to different requirements, contributing to the overall growth of the market.

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Liquid Nitrogen Storage Tank Market Analysis, by Application:

  • Labs and Education
  • Pharma and Hospital
  • Stem Cell and Blood Bank
  • Others

Liquid Nitrogen Storage Tanks are commonly used in labs and education for storing biological samples, research materials, and preserving cells. In Pharma and Hospital settings, the tanks are used for storing vaccines, blood samples, and medical specimens. Stem Cell and Blood Banks rely on liquid nitrogen tanks to safeguard valuable samples. Other applications include food preservation, cryogenic surgeries, and semiconductor manufacturing. The fastest-growing application segment in terms of revenue is the pharmaceutical and healthcare industry, with increasing demand for cryopreservation and storage of biological materials for research and medical purposes. Liquid Nitrogen Storage Tanks play a crucial role in ensuring the integrity and longevity of these valuable materials.

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Liquid Nitrogen Storage Tank Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The Liquid Nitrogen Storage Tank market is expected to experience significant growth across various regions. North America and Europe, specifically the United States, Canada, Germany, France, and the ., are anticipated to dominate the market due to the presence of advanced healthcare and research facilities. In Asia-Pacific, countries like China, Japan, South Korea, and India are also expected to contribute to market growth. Latin America, Middle East & Africa regions are projected to showcase steady growth as well. Overall, Asia-Pacific is expected to dominate the market with a market share of around 35%, followed by North America with 25% and Europe with 20%.

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