World’s Top 10 Companies in LNG Storage Tank Market 2025: Industry Intelligence Report by Spherical Insights (2024–2035)
RELEASE DATE: Oct 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global LNG Storage Tank Market Size is projected to Grow from USD 16.75 Billion in 2024 to USD 36.35 Billion by 2035, at a CAGR of 7.30% during the forecast period 2025–2035. Increased exploration and production from oil and liquids-rich basins, including shale and coalbed methane, are some of the factors influencing the global market for LNG storage tanks. Market expansion is also aided by the construction of onshore liquefaction and regasification facilities. This expansion can be ascribed to the growing demand for LNG as a cleaner energy source worldwide, particularly in the transportation, industrial, and power generation sectors.
Introduction
A Liquefied Natural Gas (LNG) storage tank is a highly specialised, insulated vessel made to safely and effectively store natural gas at low pressure and extremely cryogenic temperatures in its liquid state. Natural gas is liquefied primarily to drastically reduce its volume, making it economically feasible for long-distance transportation via specialised carriers or for large-volume storage at bunkering stations, import/export terminals, and peak-shaving facilities. Common varieties of these tanks have improved inner and outer barriers, providing the highest level of safety. In the global energy infrastructure, each type is based on particular capacity, safety requirements, site conditions, and cost considerations for different onshore and offshore applications. Furthermore, AI enables automated tank inspections when paired with robotics, drones, and smart sensors. Natural gas has become an important transitional fuel as governments and businesses look to cut their carbon footprints and move away from coal and oil because of its lower greenhouse gas emissions. Investments in LNG infrastructure, such as storage facilities that guarantee steady supply chains and energy security, are fueled by this shift.
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LNG Storage Tank Market Size & Statistics
- The Market Size for LNG Storage Tank Was Estimated to be worth USD 16.75 Billion in 2024.
- The Market is Going to Expand at a CAGR of 7.30% between 2025 and 2035.
- The Global LNG Storage Tank Market Size is anticipated to reach USD 36.35 Billion by 2035.
- Asia Pacific is projected to generate the highest demand during the forecast period in the LNG storage tank market.
- Europe is expected to grow the fastest during the forecast period in the LNG storage tank market.
Regional growth and demand
Europe is estimated to grow the fastest during the forecast period in the LNG storage tank market. The market for LNG storage tanks in Europe is expanding significantly due to strategic investments meant to improve energy security and facilitate the switch to cleaner energy sources. Leading the way in this expansion is Germany, which is quickly building onshore terminals and Floating Storage and Regasification Units (FSRUs) to diversify its energy sources and lessen its dependency on pipeline gas. The Wilhelmshaven and Brunsbüttel terminals are important projects that are part of Germany's plan to incorporate LNG into its energy mix while investigating potential conversions to green hydrogen and ammonia facilities.
Asia Pacific is anticipated to generate the highest demand during the forecast period in the LNG storage tank market. Rising energy consumption, a move away from coal, and inadequate domestic gas production are the main drivers of this regional market dominance. This is Due to the region's reliance on LNG imports, significant investment has been made in inland facilities and coastal terminals for storage infrastructure. The region's extensive storage development efforts are exemplified by major projects in South Korea and Japan, as well as regional cooperation agreements for LNG supply. With initiatives like the expansion of the Hibiki LNG Terminal, which includes building a third storage tank to improve domestic supply reliability, South Korea is making large investments in LNG infrastructure.
Top 10 Trends in the LNG Storage Tank Market
- Strategic Role in Energy Security
- Surge in Above-Ground Tank Installations
- Sustainability & Carbon Reduction
- Advanced Cryogenic Materials
- Modular & Scalable Designs
- Retrofit & Life Extension Projects
- Digitalization & Remote Monitoring
- Innovations in Membrane Tank Technology
- Regional Infrastructure Race
- Growth & Capacity Expansion
1. Strategic Role in Energy Security
Particularly in areas moving away from pipeline gas, LNG tanks are increasingly seen as essential infrastructure for national energy security.
2. Surge in Above-Ground Tank Installations
Above-ground tanks are anticipated to hold a market share because they are less expensive to construct and require less maintenance than underground tanks.
3. Sustainability & Carbon Reduction
To meet the objectives of global decarbonization, operators are spending money on leak detection systems, better insulation, and low-emission tank designs.
4. Advanced Cryogenic Materials
The use of composite insulation, aluminium alloys and 9% nickel steel is increasing in order to decrease boil-off gas losses and increase thermal efficiency.
5. Modular & Scalable Designs
Particularly in remote or offshore LNG terminals, modular tank systems are becoming more popular due to their quicker deployment.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the LNG storage tank market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 10 Companies Leading the LNG Storage Tank Market
- Linde plc
- McDermott.
- Wartsila
- IHI Corporation
- AIR WATER INC.
- CIMC Enric Holdings Limited
- Chart Industries
- ISISAN A.S.
- Cryolor
- Inox India Limited
1. Linde plc
Headquarters: Surrey, United Kingdom
The company designs and produces small to large capacity vacuum-insulated LNG storage tanks for use in peak-shaving facilities, import/export terminals, and industrial energy infrastructure across the globe. Linde provides incredibly effective, secure, and long-lasting LNG storage solutions by utilising cutting-edge materials, intelligent sensors, and predictive maintenance technologies.
2. MCDermott.
Headquarters: Texas, USA
McDermott has experience with double-walled cryogenic tanks, full containment, and integrating LNG storage into intricate energy terminals. Its reputation as a preferred partner for significant LNG infrastructure developments is cemented by its global network of fabrication yards, project engineering teams, and emphasis on sustainability and risk reduction. The business supports the expansion of clean energy supply chains globally by being very active in project expansions and developing LNG markets.
3. Wartsila
Headquarters: Helsinki, Finland
One of the leading worldwide technology companies, Wärtsilä specialises in cutting-edge LNG storage tank solutions, especially for small-scale and marine LNG applications. The company develops, designs, and provides full LNG fuel supply systems, including integrated bunkering, custody transfer, boil-off gas management, and fuel gas supply for shore-based facilities and vessels. In order to support modular logistics and point-to-point distribution, Wärtsilä is known for its proficiency in Type-C vacuum-insulated tanks, which maximise fuel delivery and storage efficiency.
4. IHI Corporation
Headquarters: Tokyo, Japan
IHI Corporation is a well-known Japanese engineering firm with a significant market share in Asia and a strong global presence that specialises in LNG storage tanks and receiving terminals. All of the main tank types are covered by IHI's portfolio, including earth-sheltered LNG underground tanks, double-walled metal tanks, pre-stressed concrete (PC) full containment tanks, and in-ground membrane tanks. Notably, IHI constructed the largest subterranean LNG tank in the world for Tokyo Gas, which can hold up to 250,000 kiloliters. IHI also offers scalable solutions for floating facilities, commercial storage, and import/export terminals.
5. AIR WATER INC.
Headquarters: Osaka, Japan
One of the leading companies in the LNG storage tank industry is AIR WATER INC., which focuses on designing, building, and manufacturing satellite LNG facilities, shipping containers, and LNG tank trucks. The company provides safe, dependable, and effective LNG storage and distribution solutions by utilising cutting-edge cryogenic technology along with practical piping and welding experience. As the need for LNG logistics and fueling infrastructure in Asia-Pacific and beyond grows, their LNG tank containers meet ISO standards for shipping, rail, and truck transportation. Further solidify its commitment to the shift to low-carbon energy systems, AIR WATER also works with other companies on creative projects like small, scalable cryogenic storage and fueling facilities for trucks.
Are you ready to discover more about the LNG Storage Tank market?
The report provides an in-depth analysis of the leading companies operating in the global LNG storage tank market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Linde plc
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- McDermott.
- Wartsila
- IHI Corporation
- AIR WATER INC.
- CIMC Enric Holdings Limited
- Chart Industries
- ISISAN A.S.
- Cryolor
- Inox India Limited
- Others.
Conclusion
The global market for LNG storage tanks is expected to grow significantly, reaching a compound annual growth rate (CAGR) of 7.30% from USD 16.75 billion in 2024 to USD 36.35 billion by 2035. This expansion is fueled by investments in onshore liquefaction and regasification facilities as well as rising demand for LNG as a cleaner energy source in the power, industrial, and transportation sectors. Strategic energy security initiatives are predicted to propel Europe's growth at the quickest rate, while the Asia Pacific will produce the greatest demand due to growing consumption and storage infrastructure investments. The market for LNG storage tanks is expected to grow significantly and play a crucial role in the global energy transition due to the industry's overall leadership and technological innovation landscape.
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