A Summary of the Gas Holders Market Developments (2023 to 2033)
As per Future Market Insights, the gas holders market is anticipated to attain a value pool of US$ 65 million by 2023-end. Global demand for gas holdersis expected to rise at a CAGR of 4.4% to US$ 100 million in 2033.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 65 million
Projected Market Value in 2033
US$ 100 million
Growth Rate (2023 to 2033)
4.4% CAGR
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Infrastructure Development Drives Demand for Gas Holders
Infrastructure development: The development of infrastructure projects such as pipelines, refineries, and liquefied natural gas (LNG) terminals is driving the gas holders market. As more infrastructure projects are developed, there is an increasing need for gas holders to store the gases used in these facilities.
Technological advancements: Technological advancements in the design and manufacturing of gas holders are driving the market. New designs and materials are being used to make gas holders more efficient, reliable, and cost-effective.
Expansion of LNG Infrastructure Creates Opportunities for Gas Holders
Expansion of liquefied natural gas (LNG) infrastructure: The growth of LNG infrastructure around the world presents a significant opportunity for the gas holders market. LNG requires specialized storage facilities and gas holders can play a critical role in storing and distributing this energy source.
Renewable energy storage: The increasing adoption of renewable energy sources such as wind and solar power creates an opportunity for gas holders to be used as energy storage systems. As renewable energy sources are intermittent, gas holders can store excess energy during periods of high generation, and release it during periods of low generation.
Emerging economies: The rapid industrialization of emerging economies such as China and India creates an opportunity for the gas holders market. As these economies continue to grow, there will be a need for more storage facilities to accommodate the growing demand for gases used in industrial processes.
Gas-to-power projects: Gas-to-power projects, which convert natural gas into electricity, present a significant dollar opportunity in the gas holders market. Gasholders can be used to store the natural gas used in these projects, providing a steady supply of fuel for power generation. As the demand for natural gas as a fuel source continues to rise, gas-to-power projects are expected to grow, driving the demand for gas holders and creating new opportunities for market growth.
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Digital Technologies Transforming the Gas Holders Market
Increased use of digital technologies: The Gas Holders Market is seeing an increasing trend towards the use of digital technologies, such as IoT sensors and data analytics, to improve the monitoring and maintenance of gas holders. This allows for improved safety and efficiency in gas holder operations, reducing downtime and optimizing performance. As the benefits of digital technologies become more widely recognized, their adoption is expected to increase further, driving the trend towards digitalization in the gas holders market
Emphasis on safety and environmental sustainability: There is a growing emphasis on safety and environmental sustainability in the gas holders market. Manufacturers and operators are increasingly focused on ensuring that gas holders are designed and operated in a safe and environmentally responsible manner.
Growing demand for custom solutions: The Gas Holders Market is experiencing a growing trend towards custom solutions, as manufacturers seek to meet the specific needs of their customers. This trend is being driven by the increasing demand for gas holders that can accommodate a wide range of gases and operating conditions, as well as the need for cost-effective solutions that can deliver high levels of performance. As a result, manufacturers are offering more flexible solutions, allowing customers to choose from a range of features and configurations to meet their individual needs.
Gas Holders Market Overview
According to the latest research estimates, the Gas Holders market is projected to experience incremental growth in the coming decade. The gas Holders Market is projected to rise with a growth rate of 3%-4% during the period of 2021 to 2031. Demand for Gas Holders will witness continued traction in emerging markets for the assessment period.
The augmentation of natural gas production and storage facilities is a key factor behind the market growth. Raw material pricing i.e. Steel and Polymers will have a determining effect on product fabrication and end-user sales quotes.
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What is Driving Demand for Gas Holders?
Gas holders is a pivotal component for the storage and transportation of the natural gas based in production and storage facilities. As per global Energy Council & Production Data Statistics, the production rate of natural gas in the globe has been increasing at a steady rate with annual average rate of 4% recorded in the historical 5 years, where in few regional hubs a robust increase upto 10% percent has been witnessed.
With demand from onshore and offshore storage facilities a durable storage system is required to store & transport the gas, which has been instrumental in the market growth.
Demand from industrial gas manufacturing units, cryogenics and air separation plants is also expected to escalate the installation rate of gas holders in proportion to new facility expansion and investment rates in the respective end use verticals.
Provision of standard storage capacities as well as customized configurations are being provided by the manufacturers. It is very essential that storage system should be hard enough to resist every kind of leakage & therefore efforts are being made by manufacturers by trying various kin of materials in manufacturing of gas holders to get the desired results.
To cater this criteria, emphasis on highly durable & cost effective solution for end users has been pursued by the OEMs.
Growing CAPEX Investments Related to Petrochemicals, Power Generation and Industrial Gas Manufacturing Units in Developing Countries to Propel the Market for Gas Holders
The CNG based power generation is growing traction in developing countries of Asia and Latin America with raising investments and capital equipment. This in turn is expected to call for installation of gas holders to a sound extent.
Additionally, petrochemicals and cryogenics industries are also expected to imbibe gas holder installations to a rich extent. With the extensive product shelf life, the replacement rate is expected to be on lower rate where repair and maintenance of the body will be chiefly observed in the subsequent years. Ancillary services such as coating, corrosion protection and linings will provide opportunities in revenue earning for the participants involved in the value chain.
Regional Market Outlook
North America is expected to hold a considerable market share over the forecast period With the USA already leading the global natural gas production index in the globe and Canada emerging as the next growth market, the region is expected to sustain its dominance for the gas holder’s sales share in the globe.
Also, several initiatives taken by the governments and agencies of several countries for building natural gas production plants enhance the demand growth for the market in the region.
East Asia and the Pacific are expected to have a robust growing market due to the development of the power generation sector in various countries such as China, and Australia. The growth is expected primarily due to the combination of multiple factors including rising production of natural gas, power generation capacity expansions, petrochemicals, and industrial gases market growth.
Who are the Key Manufacturers and Suppliers of Gas Holders?
Some of the leading manufacturers and suppliers of Gas Holders are
Zekelman Industries
Boselan Tanks Co., Ltd (BSL)
ReVivo Gas
s.r.o.
Ovivo USA LLC
Wiefferink B.V.
Geomembrane Technologies
an Evoqua brand
WesTech Engineering, LLC
Eco-Tech, Inc. among others.
Leading manufacturers are focused on expansion sales and distribution network in emerging markets across the globe. Direct supply chain route is being employed by OEMs with the end users. Attributing to the presence of number of upper and lower tier players, the Gas Holders market is touted to be fiercely competitive.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
