LNG Storage Tank Market 2030: Trends Shaping the Future, Size & Forecast Data

Industryresearch

Jul 21, 2025 - 12:09

Industry Key Highlights

According to TechSci Research report, “LNG storage tank Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2020-2030F”, The Global LNG storage tank Market was valued at USD 14.61 Billion in 2024 and is expected to reach USD 22.67 Billion by 2030 with a CAGR of 7.44% during the forecast period.

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Emerging Trends in the LNG Storage Tank Market

1. Rise of Modular and Small-Scale LNG Tanks

A notable trend is the growing popularity of small-scale and modular LNG tanks. Designed for flexible and rapid deployment, these tanks serve remote and off-grid locations, such as mining operations, island communities, and industrial zones without fixed infrastructure. Ranging from 50 to 30,000 cubic meters, they can be installed within 12 months—substantially faster than conventional tanks, which often require 3–5 years of construction.

2. Acceleration of Floating LNG Infrastructure

The LNG market is witnessing significant momentum in floating LNG storage solutions, including Floating Storage Regasification Units (FSRUs) and Floating Liquefied Natural Gas (FLNG) facilities. These systems bypass the need for onshore infrastructure, cutting down project timelines by 30–40% and offering mobile, scalable capacity.

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Market Drivers

1. Global Energy Transition and Clean Fuel Policies

Governments and corporations worldwide are steering away from carbon-heavy fuels. LNG is recognized for producing 45% fewer CO₂ emissions than coal, making it a key player in decarbonization strategies. This global shift is intensifying demand for reliable, safe, and scalable LNG storage solutions.

2. Rising LNG Trade and Import-Export Terminals

The expansion of LNG terminals—both import and export—is a direct response to rising global trade volumes. Countries are building infrastructure to accommodate increased gas demand in power generation, transportation, and industrial applications. Every new terminal necessitates corresponding storage capacity, propelling demand for both traditional and advanced tank designs.

3. Urbanization and Industrialization in Emerging Markets

Rapid development across Asia Pacific, Latin America, and parts of Africa is amplifying the need for sustainable energy. LNG is increasingly used in manufacturing, construction, and even residential sectors, requiring storage infrastructure that is cost-efficient, safe, and deployable in urban and peri-urban environments.

4. Technological Advancements in Cryogenic Storage

Modern LNG tanks are equipped with enhanced insulation materials, smart monitoring systems, and leak-proof linings, boosting safety and efficiency. These innovations reduce boil-off gas (BOG) losses and enhance storage life—making tanks more attractive to investors and facility developers.

Tank Type Analysis: Non-Self-Supporting Tanks Gain Momentum

Among tank types, non-self-supporting tanks are expected to witness the fastest growth during the forecast period. These tanks, especially membrane and semi-membrane designs, rely on external containment structures for support, allowing for lightweight construction and high-capacity storage within floating systems.

Key factors driving this trend include:

Suitability for FSRUs and FLNGs
Compact form factor ideal for space-constrained vessels
Compliance with stringent maritime fuel regulations

Notably, membrane-type tanks, such as those designed by Gaztransport & Technigaz (GTT), are being integrated into LNG bunkering vessels that support cleaner shipping fuels under IMO standards. Their rising adoption in Asia and Europe is a testament to their operational efficiency, safety, and regulatory compliance.

fast-deploying, and safe storage systems will grow significantly.

Key Growth Opportunities Ahead:

Green shipping and LNG bunkering: Demand for marine fuel is increasing the deployment of onboard LNG tanks and coastal bunkering facilities.
Energy resilience & strategic reserves: Countries are building LNG reserves to buffer against supply disruptions, boosting long-term tank investments.
Decentralized energy infrastructure: Distributed LNG models using modular and floating tanks will become the new norm in remote and underdeveloped regions.
Technological innovation: Advancements in smart sensors, AI monitoring, and materials will further enhance the performance, safety, and cost-efficiency of tanks.

With LNG playing a central role in energy transition and geopolitical energy security, storage tanks will be a strategic asset class in the coming decade.

Key market players in the Global LNG storage tank market are: -