Posted 3/12/2024, 2:30:00 PM
LNG Storage Market to Hit $36 Billion by 2034 amid Rising Demand and Renewables Integration
- Global LNG storage tank market to reach $36.3 billion by 2034, driven by 8.1% CAGR over next 10 years
- Growing LNG demand driving need for flexible storage like floating storage and regasification units (FSRUs)
- Trend of integrating LNG storage with renewables creating new growth opportunities
- Modular and small-scale LNG storage solutions supporting niche markets like transportation
- Changes in regulations around safety, environment, permitting shaping LNG storage tank investments and market dynamics