The global cryogenic tanks market is growing at a sustained pace, driven by a combination of energy infrastructure investment, healthcare expansion, and the emergence of hydrogen as a strategic energy carrier. Understanding the market dynamics helps UK laboratory and procurement professionals contextualise both the availability and pricing of cryogenic storage equipment.
The global cryogenic equipment market size was estimated at USD 26,573.8 million in 2025 and is expected to reach USD 45,390.9 million by 2033, growing at a CAGR of 7.0%, with the tank segment dominating the market at 32.8 per cent of revenue in 2025 and the storage application segment accounting for 56.2 per cent of total market revenue.
The primary growth driver at a global level is LNG infrastructure. Cryogenic tanks are essential for storing and transporting liquefied natural gas, and the continued expansion of LNG export and import terminals, bunkering facilities, and distributed gas networks is generating sustained demand for large-scale cryogenic storage systems. This investment is concentrated in Asia Pacific, North America, and the Middle East, but European markets including the UK are also investing in LNG infrastructure as part of energy security strategies.
Hydrogen is the emerging driver that is beginning to reshape long-term market forecasts. Green hydrogen produced by electrolysis must be liquefied and stored at -253°C for transport and distribution, requiring cryogenic tanks at the extreme end of the temperature range. The UK government’s hydrogen strategy and related infrastructure investment programmes are expected to drive demand for hydrogen-grade cryogenic storage over the coming decade.
For UK laboratory and IVF professionals, the relevant segment of the cryogenic tanks market is the healthcare and biological storage category. The growth of fertility treatment, biobanking, and cell therapy is driving sustained demand for biological-grade LN2 storage vessels.
Cryolab supplies biological-grade cryogenic storage tanks to UK IVF laboratories and research institutions. ISO 9001:2015 certified. View the full cryogenic tank range or contact the Cryolab team to discuss your storage requirements.
