CRYOGENIC TANKS MARKET ANALYSIS

Market News

Global Cryogenic Tanks Market: Key Developments

In July 2020, M1 Engineering delivered high-payload CARRYMORE Oxygen trailers to its customers in light of the Coronavirus outbreak. Each trailer has a capacity of 3, 6500 liters and is equipped with a four-axle configuration that allows the trailer to deliver 30% more oxygen than the tri-axle configuration. Supply of oxygen trailers is expected to enable the company to enhance its share in additional end-use sectors such as medical infrastructure market.

In March 2020, INOX India Pvt. Ltd. partnered with Shell Energy India Pvt. Ltd. (SEI) for supplying LNG to customers who are not connected to natural gas pipeline. The company is expected to source LNG from SEI owned LNG terminal in Hazira, Gujrat, India and deliver it by trucks. The strategy will enable the company to enter the rapidly growing city gas distribution market, thereby enhancing its overall market position.

In September 2019, Chart Industries received a contract from LGM Engineering under which, the company will supply four LNG cryogenic tanks to LGM Engineering’s marine fuel gas systems. The fuel tanks comprise double stainless-steel shells with vacuum insulation, with a capacity of 300 m3 each. Such contracts are expected to enable the company to enhance its foothold in the global cryogenic tanks market.