Rocket Fuel Cryogenic Storage Market Report 2025

The rocket fuel cryogenic storage market size has grown rapidly in recent years. It will grow from $1.4 billion in 2024 to $1.55 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. The growth during the historic period can be attributed to the rising demand for liquid nitrogen gas (LNG), expansion of space exploration programs, increased use in healthcare, growing applications in cryopreservation, and heightened demand in metallurgy.

The rocket fuel cryogenic storage market size is expected to see rapid growth in the next few years. It will grow to $2.28 billion in 2029 at a compound annual growth rate (CAGR) of 10.2%. The growth during the forecast period can be attributed to the increasing frequency of satellite deployments, the expansion of commercial space ventures, rising interest in space tourism, growing government space budgets, and enhanced international space collaborations. Key trends expected in the forecast period include advancements in insulation material technologies, integration of IoT in storage systems, real-time monitoring technologies, developments in automated refueling systems, and the incorporation of AI-based diagnostics.

The expansion of space exploration programs is expected to drive the growth of the rocket fuel cryogenic storage market in the future. Space exploration programs are coordinated efforts by governments or private organizations to investigate outer space using spacecraft, satellites, telescopes, and other technologies. These programs are increasing due to heightened interest in scientific discovery, as countries and private firms aim to better understand the universe, search for extraterrestrial life, and study celestial bodies. Rocket fuel cryogenic storage is essential for these programs, as it safely stores and supplies the supercooled propellants needed to launch and power spacecraft. For example, according to the Government Accountability Office, a US government agency, there were nearly 5,500 active satellites in orbit as of 2022, with projections indicating that an additional 58,000 satellites will be launched by 2030. Hence, the rise in space exploration programs is fueling the growth of the rocket fuel cryogenic storage market.

Key players in the rocket fuel cryogenic storage market are focusing on innovative technologies such as single-piece 3D-printed engines to improve fuel efficiency and simplify system design. A single-piece 3D-printed engine is manufactured as one integrated component using additive manufacturing, eliminating the need for multiple parts and traditional assembly steps. For instance, in May 2024, Agnikul Cosmos Private Limited, an aerospace manufacturer and commercial launch service provider based in India, successfully launched a rocket powered by a semi-cryogenic engine. This engine type combines liquid oxygen with refined kerosene-based fuel, delivering higher thrust, increased payload capacity, and more efficient fuel management. It also provides a cost-effective option for future heavy-lift and potentially reusable space missions. The main goal is to enable the efficient launch of heavier satellites while substantially reducing mission costs for space agencies.

In March 2022, HyPoint Inc., a US-based developer of hydrogen fuel cell systems for aviation, partnered with Gloyer-Taylor Laboratories (GTL) to advance hydrogen-powered flight technology. This partnership combines HyPoint’s advanced turbo air-cooled hydrogen fuel cell systems with GTL’s ultralight BHL Cryotank liquid hydrogen storage technology, greatly extending the range and viability of zero-emission aircraft. Gloyer-Taylor Laboratories (GTL) Inc. is a US-based aerospace research and development firm.

Major players in the rocket fuel cryogenic storage market are The Boeing Company, Lockheed Martin Corporation, Linde plc, Air Liquide S.A., Ball Aerospace & Technologies Corp., Air Products and Chemicals Inc., Cryofab Inc., Space Exploration Technologies Corp., Hanwha Corporation, Eta Space LLC, ONNES Technologies B.V., ArianeGroup SAS, Kawasaki Heavy Industries Ltd., Chart Industries Inc., MT Aerospace AG, FIBA Technologies Inc., VRV S.p.A., SpaceDreams Inc., Cryonorm B.V., and INOX India Limited.

North America was the largest region in the rocket fuel cryogenic storage market in 2024. The regions covered in rocket fuel cryogenic storage report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the rocket fuel cryogenic storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

Rocket fuel cryogenic storage involves the specialized containment of extremely cold propellants, like liquid hydrogen or liquid oxygen, used in rockets. These fuels must be kept at cryogenic temperatures (below -150°C) to stay in a liquid state. Cryogenic storage tanks are insulated and engineered to withstand the pressure and low temperatures, reducing boil-off and ensuring fuel stability.

The primary types of rocket fuel cryogenic storage include liquid hydrogen, liquid oxygen, liquid methane, and others. A liquid hydrogen storage tank is a specially insulated vessel designed to hold hydrogen in its liquid form at extremely low temperatures (approximately -253°C). These storage systems find applications in space exploration, military operations, commercial aviation, and more, and are utilized by various end users such as aerospace companies, defense organizations, and research institutions.

The rocket fuel cryogenic storage market research report is one of a series of new reports that provides rocket fuel cryogenic storage market statistics, including the rocket fuel cryogenic storage industry global market size, regional shares, competitors with the rocket fuel cryogenic storage market share, detailed rocket fuel cryogenic storage market segments, market trends, and opportunities, and any further data you may need to thrive in the rocket fuel cryogenic storage industry. This rocket fuel cryogenic storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The rocket fuel cryogenic storage market consists of revenues earned by entities by providing services such as cryogenic tank design and engineering, tank fabrication and installation, fueling and defueling operations, cryogenic fluid handling and transfer systems, and monitoring and control systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The rocket fuel cryogenic storage market also includes sales of products including cryogenic storage tanks, cryogenic valves and fittings, insulation materials, cryogenic pumps and compressors, and fuel transfer lines and piping. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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