Industry Background:
LNG Tank Container is a specific storage tank which is used for storing or preserving Liquefied Natural Gas (LNG). These containers are used for transportation through waterways and land. It stores LNG at the temperature of -260°F.LNG Tankers have double containers, were inner parts stores LNG and the outer parts has insulation material for its safety. Increasing relation towards imports and exports of oil and gas are driving the market for this container.
According to AMA Research, the market for LNG Tank Container is expected to register a CAGR of 9.6% during the forecast period to 2028. This growth is primarily driven by Increasing Intermodal Freight Transportation
.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2023 |
Forecast Period | 2024-2028 |
Volume Unit | unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Oil & Gas Storage & Transportation sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as CIMC (China), Rootselaar Group (The Netherlands), FURUISE (Spain), UBH International (United Kingdom), M1 Engineering (United Kingdom), Air Water Plant & Engineering (Japan), LUXI Group (Singapore), Corban Energy Group (United States) and Bewellcn Shanghai (Shanghai), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On February 27, 2023, Shell Western LNG B.V. and Hapag-Lloyd announced a multi-year agreement for the supply of LNG to Hapag-Lloyd’s ultra large dual-fuel container vessels.
On June 29, 2023, CIMC Enric Holdings Limited announced the launch of its first 40-foot liquid hydrogen tank container at the CIMC Hydrogen Nantong Base.The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.
Influencing Trend:
Reduction of Operational Cost by Using New and Large Vessels with High Capacity is one of the Latest Trends
Market Growth Drivers:
Increasing Intermodal Freight Transportation, The Surge to LNG Trade Worldwide and High Demand for the Transportation of Oil and Gas from Road to Marine Lines
Challenges:
Trade Imbalance Causes Low Back-Haul Utilization Rate
Restraints:
High Cost of These Containers and More Transportation Cost for These LNG Tankers
Opportunities:
Rising Infrastructure Investments in Intermodal Facilities and Growing Marine Voyages for LNG Trade in Developed Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of LNG Tank Container Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of LNG Tank Container Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of LNG Tank Container players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, LNG Tank Container Study Sheds Light on
The LNG Tank Container Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the LNG Tank Container industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where LNG Tank Container industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.