The oil and gas industry continues to be a hotbed of innovation, with activity driven by an increasing need for long-term sustainability, reducing capital and operating expenses, minimising its carbon footprint, and transitioning towards low-emission fuels. Technological advances and growing research in the field of alternative fuels are enabling these objectives to be achieved. This is characterised by the growing importance of technologies, such as low-carbon hydrogen, liquified natural gas (LNG), and carbon capture and storage (CCS). In the last three years alone, there have been over 534,000 patents filed and granted in the oil and gas industry, according to GlobalData’s report on Energy Storage in Oil & Gas: Gas storage vessel construction.
According to GlobalData’s Technology Foresights, which uses over 256,000 patents to analyse innovation intensity for the oil & gas industry, there are 40+ innovation areas that will shape the future.
Gas storage vessel construction is a key innovation area in energy storage
A gas storage vessel is a pressurised container designed to store gas under specific conditions. There are various types of gas storage tanks, such as pressure tanks, bullet tanks, LNG storage tanks, and CNG tanks, among others. These tanks are also installed underground when there is a need to storage liquids or gases in large volumes. These tanks can be constructed from high-performance materials, including aluminium, steel, and fibreglass.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 80+ companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of gas storage vessel construction.
Key players in gas storage vessel construction – a disruptive innovation in the oil & gas industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Air Liquide , Linde and Hexagon Composites are some of the leading companies in gas storage vessel construction. Linde’s portfolio includes various types of pressure-tight vessels, such as cylinders, cylinder bundles, and tanks for storing gases either in compressed or liquified state.
Air Liquide is a leading producer and supplier of industrial gases. It offers a range of vessels to store and transport gases, including liquified gases and cryogenic gases.
Hexagon Composites has expertise in offering Type 4 composite technology in its storage cylinders, which are used in a wide range of industrial applications. The Type 4 composite technology enables in construction of light weight, corrosion resistant, cylinders for storing gases under high- or low-pressure conditions.
To further understand the key themes and technologies disrupting the oil & gas industry, access GlobalData’s latest thematic research report on Top 20 Oil & Gas Themes 2022.