Cryogenic Tanks Market

Bulk Storage Tanks - Using Gases More Efficiently, and Creatively

The Cryogenic Tanks Market is valued at USD 7.6 Bn in 2026 and is projected to reach USD 12.1 Bn , growing at a CAGR of 6.9% by 2033.Cryogenic liquids (liquid nitrogen, helium, and argon) exist at extremely low temperatures -typically liquefied gases at -150°C, or lower. These liquids require specialised equipment for transportation, and storage. Standard containers would make it impossible to handle them in addition to presenting severe health, and safety risks to those who work in the same environment. Of these, health hazards may include extreme cold, asphyxiation, and toxicity, whereas flammability hazards such as fire, oxygen-enriched air, liquid oxygen, and explosion due to rapid expansion are involved. Cryogenic tanks that store such cryogenic liquids, or gases/only gases/only liquids at extremely low temperatures thus serve an important role here. Cryogenic tanks are also utilised for storing, and transporting gases such as liquefied natural gas (LNG), carbon dioxide, and nitrous oxide at higher temperatures. These containers are specifically designed to withstand rapid temperature changes, and extreme temperature differences. With an increasing number of these industrial gases being delivered in liquid form at cryogenic temperatures, enabling them to be stored on site for later use, the global cryogenic tanks market is expected to witness a promising growth outlook during the forecast period.

Industrial Gases Help Drive Economy, with a Wide Application Base

Year on year, the demand for industrial, and atmospheric gases exceeds the growth of GDP on a global scale.

The most common industrial gases are -

• Air gases - oxygen (O₂), nitrogen (N₂), and argon (Ar)
• Rare gases - such as helium (He), krypton (Kr), xenon (Xe), and neon (Ne)
• Hydrogen (H₂), carbon monoxide (CO), carbon dioxide (CO₂), and nitrous oxide (N₂O)
• Chlorine (Cl₂), hydrogen chloride (HCl), and sulphur dioxide (SO₂)
• Acetylene (C₂H₂), methane (CH₄), and propane (C₃H₈)

Industrial gases are the manufacturing essentials, and massive quantities of oxygen, nitrogen, and argon are used in the steel, and metal industries. Shipyards, and the automotive industry extensively utilise acetylene, propane, mixtures of fuel gases, and oxygen for cutting, and welding applications. Liquid nitrogen is vital in recycling plastics, packaging, and scrap tyres. The chemical industry employs all major industrial gases as a raw material, or for inerting. High-purity gases are also widely used e.g., in microchip production.

In food industry, liquid nitrogen, and carbon dioxide are extensively used for high-quality product freezing, accurate maintenance of low temperatures for preserving the freshness of products, food distribution, and extension of the storage life of packaged goods. The use of carbon dioxide has been commonplace in the beverages sector industry, and nitrogen is widely used to inflate packages of snack foods so as to prevent damage, and preserve freshness. Oxygen as an oxidising agent, ozone as a cleansing agent, propane as an aerating agent or propellant, iso-butane/n-butane as a propellant, ethylene as a fumigant, and chlorine as a sanitiser, are well known across the industry. The field of oenology also records significant consumption of some of these cryogenic gases.

The medical gases sector serves a large number of purposes - cryosurgery/therapy uses cryogenically stored gases for surgical interventions (freeze, and remove abnormal tissue), from relatively minor procedures such as the removal of warts, to the surgical removal of cancerous tissues. In the life sciences (cryobiology), cryogenic vials are often used for the storage of biological samples such as blood, cell cultures, serum eggs, and embryos, or sperms, and oocytes for fertility clinics in cryotanks. Cryonics - cryo-preservation (freezing a declared dead body) is another important sector driving the demand for cryogenic tanks in the global market. Expansion of cryoelectronics, the study of superconductors, and their properties under cryogenic conditions, plays an important role in the development of satellite and spacecraft technology. This is another factor influencing the growth prospects of the cryogenic tanks market. Besides water treatment, the energy generation sector registers sizeable consumption of cryogenic tanks. Some of these gases are sold in stores, and are available to the general public for non-industrial purposes such as helium for balloons, and oxygen in the medical field.

Cryogenic Tanks - Cryogenic Liquids, and their Storage Tanks

A variety of storage containers include bulk containers, cryogenic cylinders (Dewars), gas cylinders, and glass bottles (ampules). Additionally, there are more application-specific containers, including permeation tubes, and safe delivery systems. The tanks are manufactured with durable materials that are able to withstand such low temperatures, and are thermally insulated (consist of two vessels, one inside the other, with robust thermal insulation in the chamber between them), typically with a vacuum jacket, designed, and manufactured to a high specification, following international design codes. The inner vessels, and piping are made of stainless steel to ensure high-grade cleanliness – particularly important for the food, and electronics industries. The outside shell is specifically coated, and a vacuum-perlite system with a molecular sieve adsorbent is applied to ensure outstanding insulation. Additional precautions are also built into the equipment so as to reduce any chances of leakage.

The tanks can be fixed, mobile, or transportable. They are built in both a vertical (with legs or skirting), and horizontal version (with support cradles and anchoring to the ground). Static cryogenic tanks are designed for use in a fixed location; however, this includes those mobile small tanks mounted on wheels for use within workshops, and laboratories. Static cryogenic tanks are generally classified as pressure vessels, as such new tanks, and their associated systems will be manufactured, and put into service in accordance with the relevant Pressure Equipment Safety Regulation. There are also a range of non-pressurised open-neck vessels (Dewar flasks) available for those applications requiring direct access to the liquid. The tanks come in a range of sizes, pressures, and flow rates to meet the users' varying requirements.

A Specialised Job with Safeguards in Place

The maintenance, and inspection regime has to be created. Cryogenic tanks repair, or modification is carried out by a competent/authorised person/skilled repairer who performs the job in line with the design codes to which the tank was manufactured. They also need to be mindful of the prevailing regulations, and legislation. All kinds of repairs, or modifications carried out need to be documented so that the records can be kept for as long as the tank is in service. Tanks that are intended to be used for transportation of cryogenic liquids have to comply with the Carriage of Dangerous Goods and Use of Transportable Pressure Equipment Regulations 2009. They are standardised to ensure smooth distribution logistics, and cost-efficient series production, in compliance with the European Pressure Equipment Directive (PED), or ASME VIII, Div. 1. LITS tanks (Leading International Tank Standard). ISO/TC 220: Cryogenic Vessels/ EIGA/WG-6: Cryogenic Vessels (& accessories).

Industry voices such as British Compressed Gas Association (BCGA), Compressed Gas Association (CGA), American Chemistry Council (ACC), The European Industrial Gases Association (EIGA), ASTM International, Asia Industrial Gases Association, and Gas Industries Association (India) involve in public policy initiatives that impact the industry, and communicating advocacy positions for industrial gases.

Major Companies in Cryogenic Tanks Business

Some of the key players in the global cryogenic tanks market include 

• Chart Industries
• Linde plc
• Air Products and Chemicals, Inc.
• Air Liquide
• Cryofab, Inc.
• INOX India Pvt. Ltd.
• Taylor‑Wharton International LLC
• Wessington Cryogenics
• FIBA Technologies, Inc.
• Cryolor
• VRV S.p.A.
• Eden Cryogenic LLC
• Cryogas Equipment Private Limited
• Super Cryogenic Systems Pvt. Ltd.
• ISISAN A.S.

 Global Cryogenic Tanks Market Segmentation is Listed Below:

By Raw Material

• Steel
• Nickel Alloy
• Aluminium Alloy
• Others

By Cryogenic Liquid

• Liquid Nitrogen
• LNG
• Others

By Application

• Storage
• Transportation

By End-Use Industry

• Metal
• Energy
• Electronics
• Food and Beverages
• Water Treatment
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa