Liquefied Helium Tanks Market Inclinations & Development Status Highlighted for the Forecast Period

From: FactMr
Published: Thu Oct 03 2019

Liquefied helium is an inert, colorless, non-corrosive, non-inflammable and extremely cold gas. Most of the commercial liquefied helium is recovered from natural through the cryogenic separation process. Typically, liquefied helium is present in less than one percent by volume in natural gas. The liquefied helium is generally shipped from the production sources to a storage unit and transfill facilities. Tankers ranging in size from 4,000 to 12,000 gallons, comprises an annular space insulated with vacuum, nitrogen shielding and multilayer insulations. The liquefied helium tanks are designed such as to reduce the heat leaks and vaporization of the liquefied helium during its transportation. The growing utilization of liquefied helium across semiconductors industry, medical resonance imaging (MRI), wielding activity, and other manufacturing and industrial uses are expected to propel the global liquefied helium tanks market.

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Liquefied Helium Tanks Market: Regional Outlook

The global liquefied helium tanks market is segmented into seven regions including North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA. Among the above-mentioned countries, Europe is estimated to account for a significant market share due to the presence of leading vendors of liquefied helium tanks. APEJ is anticipated to witness a high growth in the global liquefied helium tanks market owing to its growing economy with a huge population base ready to spend on electronic products. Moreover, North America is projected to showcase strong growth in the global liquefied helium tanks market due to the rise in healthcare and manufacturing industry growth along with a boost in the standard of living across the region. MEA is one of the key potential regions that will create remarkable opportunity in the global liquefied helium tanks market over the forecast period due to the presence of large-scale helium production plants.

Liquefied Helium Tanks Market: Dynamics

The key driving factor for the global liquefied helium tanks market is the growing demand for liquefied helium from electronics and medical application across the globe. The macroeconomic factors, such as growing urbanization coupled with an increase in super specialty hospitals is further augmenting the growth of liquefied helium market. The significant increase in sales of electronic products owing to the rise in disposable income in developing economies is highly anticipated to drive the global liquefied helium tanks market. Moreover, considerable growth in the Asian electronics industry will create a momentous opportunity for the global liquefied helium tanks market, owing to its high demand for manufacturing electronics product, semiconductors, LCD and fiber optics. Furthermore, the technological advancement in the fabrication of transportation tankers will boost the demand for liquefied helium tanks. As liquefied helium tanks are designed to minimize the exposure of liquefied helium to the potential contamination hazards and provide ideal transportation medium, liquefied helium tanks are gaining huge recognition in all the major end-use industry.

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All these major influencing factors are highly anticipated to propel the global liquefied helium tanks market over the forecast period. The key restraining factor such as high manufacturing cost and downfall in helium production since the last 3 years may hinder the global liquefied helium tanks market growth over the forecast period.

Liquefied Helium Tanks Market: Prominent players

Prominent players for the global liquefied helium tanks market are American Gas Products, Dominion Gas, Air Products and Chemicals, Inc., Airgas, Inc., The Linde Group, Prentex Alloy Fabrictors, Inc., Shell-N-Tube Pvt. Ltd., Buzwair Industrial Gases Factories, Messer Group GmbH, Qatargas Operating Company Limited, and other key market players. Prominent market players are committed to enhancing their liquefied helium tanks quality to capture maximum market share in the global liquefied helium tanks market. These companies are aiming at the expansion of production and supply capacity of liquefied helium tanks to increase its overall profitability.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study.

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