Global LNG Storage Tank Market to Reach a Valuation of US$ 36.3 Billion by 2034, Driven by a CAGR of 8.1% | Future Market Insights, Inc. [Yahoo! Finance]
VINCI SA UNSP/ADR (VCISY)
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Source: Yahoo! Finance
Floating storage and regasification units (FSRUs) are playing a crucial role, especially in regions where building onshore infrastructure is difficult. NEWARK, Del, March 12, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global LNG storage tank market is anticipated to reach a valuation of US$ 16.7 Billion in 2024, driven by integration with renewable energy systems. The trend is expected to create new opportunities for the market, leading to a projected CAGR of between 2024 and 2034, and reaching a total valuation of approximately US$ 36.3 Billion by 2034. Ongoing research and development efforts focus on enhancing LNG tank design, materials, and construction techniques to improve safety, reliability, and cost effectiveness, driving market growth. The growing demand for smaller scale LNG solutions, including modular LNG storage tanks, supports the development of niche markets and applications, such as remote power generation and transportation. Request
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