Cryogenic Transport Vehicle Market Forecast : $0.8 Billion in 2022 to $1.5 Billion by 2032 | CAGR of 5.9%

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, “Cryogenic Liquid Transport Vehicle Market by Vehicle Type (Flammable Liquid Transport Vehicle and Non-flammable Liquid Transport Vehicle), and Application (Liquid Oxygen, Liquid Nitrogen, Liquid Argon, Liquid Hydrogen, and Others: Global Opportunity Analysis and Industry Forecast, 2022-2032”. According to the report, the global cryogenic liquid transport vehicle industry generated $0.8 billion in 2022, and is anticipated to generate $1.5 billion by 2032, witnessing a CAGR of 5.9% from 2023 to 2032.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/3138

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

The outbreak of the COVID-19 pandemic had a mixed impact on the global cryogenic liquid transport vehicle market owing to nationwide lockdown, halt in manufacturing activities, and trade restrictions.

Reduced demand for cryogenic liquids from construction, aerospace, and automotive industries was observed during the pandemic. However, greater demand for cryogenic liquids from the healthcare sector owing to rising cases of COVID-19 boosted the cryogenic liquid transport vehicles.

Post-pandemic, there has been a resurgence in demand for cryogenic liquid transport vehicles, owing to greater adoption of clean energy sources.

𝐓𝐡𝐞 𝐟𝐥𝐚𝐦𝐦𝐚𝐛𝐥𝐞 𝐥𝐢𝐪𝐮𝐢𝐝 𝐭𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on vehicle type, the flammable liquid transport vehicle segment held the highest market share in 2022, accounting for more than half of the global cryogenic liquid transport vehicle market revenue and is estimated to maintain its leadership status during the forecast period, owing to increase in demand for cryogenic liquids such as LNG and liquid hydrogen among others. The segment is also projected to manifest the highest CAGR of 6.6% from 2023 to 2032, owing to the strengthening of the cryogenic industry and the scientific and industrial applications of liquid hydrogen in aerospace and medical research.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/cryogenic-liquid-transport-vehicle-market/purchase-options

𝐓𝐡𝐞 𝐥𝐢𝐪𝐮𝐢𝐝 𝐧𝐢𝐭𝐫𝐨𝐠𝐞𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on application, the liquid nitrogen segment held the highest market share in 2022, accounting for more than one-fourth of the global cryogenic liquid transport vehicle market revenue and is estimated to maintain its leadership status during the forecast period. The growing demand for liquid nitrogen in a variety of industries, including aerospace, healthcare, and manufacturing, is expected to accelerate the need for cryogenic liquid transport vehicles to transport these cryogenic liquids safely and efficiently. Also, the same segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032 owing to rise in demand for green power and sustainable energy sources.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global cryogenic liquid transport vehicle market revenue. As China is a prominent market for cryogenic liquid transport vehicles, due to its rapidly developing industrial sector and rise in need for cryogenic liquids such as liquid hydrogen, liquid oxygen and liquefied natural gas. The region is also expected to witness the fastest CAGR of 6.7% from 2023 to 2032 owing to introduction of regulations to support the development of cleaner energy vehicles.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Cryolor
Eurotank GmbH
FIBA Technologies, Inc.
Zhangjiagang FURUI CIT Co., Ltd.
Karbonsan Pressure Vessels and Trading Co.
Chart Industries, Inc.
Shijiazhuang Enric Gas Equipment Co., Ltd.
Cryogenmash
Wessington Cryogenics
Cryogas Equipment Private Limited

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/3138

The report provides a detailed analysis of these key players of the global cryogenic liquid transport vehicle market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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