South America LNG storage tank Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Configuration (Self-Supporting Tank and Non-Self-Supporting Tank), Type (LNG Carrier and LNG Fueled Vessel), and Material (Stainless Steel, Aluminum Alloy, 9% Nickel Steel, Invar Alloy, and C-MN Steel)

TIPRE00024111 | Pages: 113 | Manufacturing and Construction | Aug 2021 | Type: Regional | Status: Published

Market Introduction

The South American economy that includes more than 10 countries, is extremely diverse. Brazil, Argentina, and Chile are among the major contributors to the economy of this region. Compared to the Caribbean and other eastern countries in the region, the western countries in the region are more advanced. As a result, the western part of SAM experiences more innovations and advancements, especially in automation technologies. Over the next decade, Brazil is expected to be the epicenter of new liquefied natural gas (LNG) demand in Latin America. In Brazil, gas remains the transition fuel as it provides for the greatest penetration of wind and solar energy. In Brazil, natural gas power is mostly utilized as a backup for hydropower, and the benefit of LNG over other supply choices is its flexibility. Further, Argentina and Chile, having developed four regasification facilities in the first decade of the century, will experience a growing demand for LNG imports as well as an optimization of existing infrastructure. With the rising demand for LNG in the region, storage tank manufacturers will have a unique chance to design long-lasting tanks for importing gas from other nations.

Brazil has the third highest number of COVID-19 cases in the SAM, countries including Colombia, Ecuador, Chile, Peru, and Argentina, among others are also witnessing the adverse impacts of the pandemic across various industries. The COVID-19 pandemic has led to the closure of all economic activities across the region, to combat the spread of the virus. The country also witnessed a major decline in its oil & gas related activities following the huge decline in gas prices and subsequent limited manufacturing activities like other global market players. Thus, the country also registered a sharp decline in the demand for LNG storage tanks owing to the outbreak of COVID-19 across the Latin American region and subsequent lower business activities in the oil & gas sector. Moreover, shutdown of business activities, lockdowns, and trade bans has negatively impacted the LNG storage tanks market in the region.                                    


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Market Overview and Dynamics

The LNG storage tank market in SAM is expected to grow from US$ 526.18 million in 2021 to US$ 702.78 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The accentuating liquefied natural gas (LNG) trade across the SAM and rising number of floating storage and regasification units are anticipated to boost the LNG storage tanks market. Moreover, rising infrastructure development across different economies such as Brazil creates enormous opportunities for marine transport to grow during the forecast period. Further, the rapid population growth is one of the driving factors supporting the increase in demand for LNG as a fuel, thus propelling the LNG carrier's demand for transportation. In addition, several governments of the countries are proposing different regulations for reducing emissions; therefore, the adoption of LNG is expected to rise prominently.       

Key Market Segments

The SAM LNG storage tank market is segmented on the bases of configuration, type, material, and country. Based on configuration the SAM LNG storage tank market is segmented into self-supporting tank and non-self-supporting tank. The self-supporting tank segment is the most used configuration in the LNG storage tanks market in 2020. Based on type, the market is segmented into LNG carrier, and LNG fuelled vessel. LNG carrier segment held the largest market share in 2020. Similarly, based on materials, the market is segmented into stainless steel, aluminum alloy, 9% nickel steel, invar alloy, C-MN steel, others. Stainless steel segment held the largest market share in 2020. Based on country the SAM LNG storage tank market is segmented Into Brazil and rest of SAM.     

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the LNG storage tank market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Air Water Inc.; Chart Industries, Inc.; Cryolor; IHI Corporation; ISISAN AS; Linde Plc; McDermott International, Inc and Wartsila Corporation.      

Reasons to buy report

  • To understand the SAM LNG storage tank market landscape and identify market segments that are most likely to guarantee a strong return.
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM LNG storage tank market.
  • Efficiently plan M&A and partnership deals in SAM LNG storage tank market by identifying market segments with the most promising probable sales.
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM LNG storage tank market.
  • Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.

SAM LNG Storage Tank Market Segmentation

SAM LNG Storage Tank Market - By Configuration

  • Self-Supporting Tank
  • Non-Self-Supporting Tank

SAM LNG Storage Tank Market - By Type

  • LNG Carrier
  • LNG Fueled Vessel

SAM LNG Storage Tank Market - By Material

  • Stainless Steel
  • Aluminum Alloy
  • 9% Nickel Steel
  • Invar Alloy
  • C-MN Steel

SAM LNG Storage Tank Market - By Country

  • Brazil
  • Rest of SAM

SAM LNG Storage Tank Market - Company Profiles

  • Air Water Inc.
  • Chart Industries, Inc.
  • Cryolor
  • IHI Corporation
  • ISISAN A.S.
  • Linde Plc
  • McDermott International, Inc.
  • Wartsila Corporation
 

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           SAM LNG Storage Tank Market Landscape

4.1         Market Overview

4.2         SAM PEST Analysis

4.3         Ecosystem Analysis

5.           SAM LNG Storage Tank Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        LNG Trade Boosting Up

5.1.2        Rising Competition Among Market Players

5.2         Market Restraints

5.2.1        High Installation and Operating Cost

5.3         Market Opportunities

5.3.1        Installation of Floating Storage Regasification Unit (FSRU)

5.4         Future Trends

5.4.1        High Manganese Steel Getting Popular

5.5         Impact Analysis of Drivers and Restraints

6.           LNG Storage Tank Market – SAM Analysis

6.1         SAM LNG Storage Tank Market Overview

6.2         SAM LNG Storage Tank Market Revenue Forecast and Analysis

7.           SAM LNG Storage Tank Market Revenue and Forecast to 2028 – By Configuration

7.1         Overview

7.2         SAM LNG Storage Tank Market, by Configuration (2020 & 2028)

7.3         Self-Supporting Tank

7.3.1        Overview

7.3.2        Self-Supporting Tank: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

7.4         Non-Self Supporting Tank

7.4.1        Overview

7.4.2        Non-Self Supporting Tank: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.           SAM LNG Storage Tank Market Analysis and Forecast to 2028 – By Type

8.1         Overview

8.2         SAM LNG Storage Tank Market, by Type (2020 & 2028)

8.3         LNG Carrier

8.3.1        Overview

8.3.2        LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.3.2.1          IMO Type A

8.3.2.1.1          Overview

8.3.2.1.2          IMO Type A: LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.3.2.2          IMO Type B

8.3.2.2.1          Overview

8.3.2.2.2          IMO Type B: LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.3.2.3          IMO Type C

8.3.2.3.1          Overview

8.3.2.3.2          IMO Type C: LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.4         LNG Fuelled Vessel

8.4.1        Overview

8.4.2        LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.4.2.1          IMO Type A

8.4.2.1.1          Overview

8.4.2.1.2          IMO Type A: LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.4.2.2          IMO Type B

8.4.2.2.1          Overview

8.4.2.2.2          IMO Type B: LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

8.4.2.3          IMO Type C

8.4.2.3.1          Overview

8.4.2.3.2          IMO Type C: LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

9.           SAM LNG Storage Tank Market Analysis and Forecast to 2028 – By Material

9.1         Overview

9.2         SAM LNG Storage Tank Market, by Material (2020 & 2028)

9.3         Stainless Steel

9.3.1        Overview

9.3.2        Stainless Steel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

9.4         Aluminum Alloy

9.4.1        Overview

9.4.2        Aluminum Alloy: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

9.5         9% Nickel Steel

9.5.1        Overview

9.5.2        9% Nickel Steel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

9.6         Invar Alloy

9.6.1        Overview

9.6.2        Invar Alloy: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

9.7         C-MN Steel

9.7.1        Overview

9.7.2        C-MN Steel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

10.        SAM LNG Storage Tank Market – Country Analysis

10.1      Overview

10.1.1     SAM: LNG Storage Tank Market, by Key Country

10.1.1.1       Brazil: LNG Storage Tank Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1       Brazil: LNG Storage Tank Market, by Configuration

10.1.1.1.2       Brazil: LNG Storage Tank Market, by Type

10.1.1.1.3       Brazil: LNG Storage Tank Market, by Material

10.1.1.2       Rest of SAM: LNG Storage Tank Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1       Rest of SAM: LNG Storage Tank Market, by Configuration

10.1.1.2.2       Rest of SAM: LNG Storage Tank Market, by Type

10.1.1.2.3       Rest of SAM: LNG Storage Tank Market, by Material

11.        SAM LNG Storage Tank Market - COVID-19 Impact Analysis

11.1      SAM: Impact Assessment of COVID-19 Pandemic

12.        Industry Landscape

12.1      Overview

12.2      Market Initiative

12.3      New Product Development

13.        Company Profiles

13.1      Chart Industries, Inc.

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      Cryolor

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3      IHI Corporation

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      ISISAN A.S

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      McDermott International, Inc.

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      Wärtsilä Corporation

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      LINDE

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      AIR WATER INC

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Word Index

LIST OF TABLES

Table 1.             SAM LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Table 2.             SAM: LNG Storage Tank Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 3.             Brazil: LNG Storage Tank Market, by Configuration – Revenue and Forecast to 2028 (US$ Million)

Table 4.             Brazil: LNG Storage Tank Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 5.             Brazil: LNG Storage Tank Market, by LNG Carrier – Revenue and Forecast to 2028 (US$ Million)

Table 6.             Brazil: LNG Storage Tank Market, by LNG Fuelled Vessel – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Brazil: LNG Storage Tank Market, by Material – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Rest of SAM: LNG Storage Tank Market, by Configuration – Revenue and Forecast to 2028 (US$ Million)

Table 9.             Rest of SAM: LNG Storage Tank Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          Rest of SAM: LNG Storage Tank Market, by LNG Carrier – Revenue and Forecast to 2028 (US$ Million)

Table 11.          Rest of SAM: LNG Storage Tank Market, by LNG Fuelled Vessel – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Rest of SAM: LNG Storage Tank Market, by Material – Revenue and Forecast to 2028 (US$ Million)

Table 13.          List of Abbreviation

LIST OF FIGURES

Figure 1.           SAM LNG Storage Tank Market Segmentation

Figure 2.           SAM LNG Storage Tank Market Segmentation – By Country

Figure 3.           SAM LNG Storage Tank Market Overview

Figure 4.           SAM LNG Storage Tank Market, by Configuration

Figure 5.           SAM LNG Storage Tank Market, By Type

Figure 6.           SAM LNG Storage Tank Market, By Material

Figure 7.           SAM LNG Storage Tank Market, By Country

Figure 8.           SAM– PEST Analysis

Figure 9.           SAM LNG Storage Tank Market: Ecosystem Analysis

Figure 10.        SAM LNG Storage Tank Market Impact Analysis of Drivers and Restraints

Figure 11.        SAM LNG Storage Tank Market Revenue Forecast and Analysis (US$ Million)

Figure 12.        SAM LNG Storage Tank Market, by Configuration (2020 & 2028)

Figure 13.        SAM Self-Supporting Tank: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        SAM Non-Self Supporting Tank: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        SAM LNG Storage Tank Market, by Type (2020 & 2028)

Figure 16.        SAM LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 17.        SAM IMO Type A: LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        SAM IMO Type B: LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        SAM IMO Type C: LNG Carrier: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 20.        SAM LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 21.        SAM IMO Type A: LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        SAM IMO Type B: LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 23.        SAM IMO Type C: LNG Fuelled Vessel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 24.        SAM LNG Storage Tank Market, by Material (2020 & 2028)

Figure 25.        SAM Stainless Steel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 26.        SAM Aluminum Alloy: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 27.        SAM 9% Nickel Steel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 28.        SAM Invar Alloy: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 29.        SAM C-MN Steel: LNG Storage Tank Market Revenue and Forecast to 2028 (US$ Million)

Figure 30.        SAM: LNG Storage Tank Market, by Key Country– Revenue (2020) (US$ Million)

Figure 31.        SAM: LNG Storage Tank Market Revenue Share, by Key Country (2020 & 2028)

Figure 32.        Brazil: LNG Storage Tank Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Rest of SAM: LNG Storage Tank Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34.        Impact of COVID-19 Pandemic in SAM Country Markets

 

  1. Air Water Inc.
  2. Chart Industries, Inc.
  3. Cryolor
  4. IHI Corporation
  5. ISISAN A.S.
  6. Linde Plc
  7. McDermott International, Inc.
  8. Wartsila Corporation

 

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM LNG storage tank market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the SAM LNG storage tank market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the LNG storage tank market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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