ALBANY, New York, November 22, 2016 /PRNewswire/ -- Transparency Market Research has published a new report titled "Cryogenic Tanks Market By Product Type (LNG, Nitrogen, Oxygen, and Argon), and By Application (Storage and Transportation)- Global Industry Analysis, Size, Share, Growth Trends and Forecast, 2016-2024" According to the report, the global cryogenic tanks market was valued at US$ 740.2 Mn in 2015 and is expected to reach US$ 1,433.0 Mn in 2024, expanding at a CAGR of 7.7% between 2016 and 2024. Cryogenic tanks are double walled tanks. The outer shell of tank is constructed out of carbon steel whereas inner shell of tank is constructed of stainless steel. The space between the walls (shells) is filled with insulation material such as foamed glass on the bottom, expanded perlite on the walls and roof perlite is also used for insulation of these tanks Cryogenic tanks are employed for the storage and transportation of liquefied gases such as nitrogen, liquefied natural gas (LNG), oxygen, and argon among others. These liquefied gases are stored and transported in cryogenic tanks at very low temperatures and specified pressure ratings. Different working pressures are maintained in cryogenic tanks ranging from 3 to 45 bar. Cryogenic tanks are constructed as per certain standards and certified according to European Pressure Equipment Directive (PED), ASME standards, and LITS tanks (Leading International Tank Standard) among others. Cryogenic tanks are constructed in various capacities ranging from 300 liters to 500,000 liters. Browse Latest Research Report with ToC:http://www.transparencymarketresearch.com/cryogenic-tanks-market.html The global cryogenic tanks market is segmented on the basis of product type and application. On the basis of product type, global cryogenic tanks market is segmented into liquefied natural gas (LNG), nitrogen, oxygen, and argon. On the basis of application, global cryogenic tanks market is segmented into storage and transportation applications.