Storage Tank Market Size - By Product Type, By Material, By Application, By Capacity & Forecast, 2024

Description

Global Storage Tank Market size will grow at over 5.1% CAGR from 2024 to 2032. Rapidly expanding infrastructure projects worldwide are necessitating robust storage solutions for various liquids. Additionally, the increasing emphasis on safety and security standards is compelling several industries to invest in advanced storage technologies. The ongoing introduction of inventive storage tanks is helping meet the changing demands. This confluence of these factors indicates a promising future for the storage tank industry, driven by safety, innovation, and infrastructure development. For instance, in October 2023, Slovnaft introduced a state-of-the-art ethylene storage tank, marking a significant advancement in its storage capabilities.

The overall industry is classified into product type, material, application, capacity, and region.

Based on material, the fiberglass storage tank market will accumulate substantial gains at 4.9% CAGR up to 2032 due to its myriad advantages. These tanks offer exceptional durability and corrosion resistance and are lightweight compared to traditional alternatives. Industries, such as oil & gas, chemicals, and water treatment are increasingly opting for fiberglass tanks, driven by stringent regulations and the strong focus on environmental safety. Additionally, the ease of installation and low maintenance requirements will further contribute to the popularity of fiberglass tanks, making them a preferred choice for storing various liquids across diverse sectors.

In terms of application, the demand for storage tanks in the chemical industry will see a notable surge at 5.4% CAGR through 2032, primarily attributed to the increasing demand for safe and efficient storage of a wide range of chemicals. Stringent regulations mandating secure containment solutions and the need for corrosion-resistant materials will drive the preference for specialized storage tanks. As the chemical industry continues to expand globally, the demand for storage tanks for ensuring product integrity and environmental safety will propel the segment growth.

Asia Pacific storage tank industry size will demonstrate a 5.1% CAGR from 2024 to 2032, owing to rapid industrialization and infrastructure development. Countries like China and India are witnessing substantial growth in the oil & gas, chemicals, and water treatment sectors, further driving the demand for storage solutions. Moreover, favorable government initiatives for supporting industrial growth and rising investments in various industries will contribute to the regional market expansion.

Product Code: 8001

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360 degree synopsis, 2018 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Technology & innovation landscape
3.3 Key news and initiatives
3.4 Regulatory landscape
3.5 Impact forces
- 3.5.1 Growth drivers
  - 3.5.1.1 Increase in oil & gas exploration activities
  - 3.5.1.2 Rising demand for bulk storage facilities
  - 3.5.1.3 Growing focus on water conservation and wastewater treatment
  - 3.5.1.4 Rapid urbanization
- 3.5.2 Industry pitfalls & challenges
  - 3.5.2.1 High initial investments
  - 3.5.2.2 Changes in regulations
3.6 Consumer buying behavior analysis
3.7 Growth potential analysis
3.8 Porter's analysis
- 3.8.1 Supplier power
- 3.8.2 Buyer power
- 3.8.3 Threat of new entrants
- 3.8.4 Threat of substitutes
- 3.8.5 Industry rivalry
3.9 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Product Type, 2018 - 2032, (USD Billion) (Million Units)

5.1 Key trends
5.2 Aboveground storage tanks
5.3 Underground storage tanks
5.4 Floating roof tanks
5.5 Others

Chapter 6 Market Estimates & Forecast, By Material, 2018 - 2032, (USD Billion) (Million Units)

6.1 Key trends
6.2 Stainless steel
6.3 Polyethylene
6.4 Fiberglass
6.5 Concrete
6.6 Others

Chapter 7 Market Estimates & Forecast, By Capacity, 2018 - 2032, (USD Billion) (Million Units)

7.1 Key trends
7.2 Small tanks (Up to 50,000 gallons)
7.3 Medium tanks (50,000 - 250,000 gallons)
7.4 Large tanks (Above 250,000 gallons)

Chapter 8 Market Estimates & Forecast, By Application, 2018 - 2032, (USD Billion) (Million Units)

8.1 Key trends
8.2 Oil & gas industry
8.3 Chemical industry
8.4 Water and wastewater treatment
8.5 Food and beverage industry
8.6 Pharmaceutical industry
8.7 Power generation
8.8 Others

Chapter 9 Market Estimates & Forecast, By Region, 2018 - 2032, (USD Billion) (Million Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Malaysia
- 9.4.7 Indonesia
- 9.4.8 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

10.1 BELLELI ENERGY CPE Srl
10.2 Belding Tank Technologies, Inc.
10.3 CB&I (Chicago Bridge & Iron)
10.4 Columbian TecTank (CTT)
10.5 CST Industries
10.6 Matrix Service Company
10.7 Motherwell Bridge Industries
10.8 Pfaudler
10.9 PermianLide
10.10 Snyder Industries
10.11 Superior Tank Co., Inc.
10.12 Tank Connection
10.13 Tarsco (TF Warren Group)
10.14 Worthington Industries
10.15 ZCL Composites Inc.

Storage Tank Market Size - By Product Type, By Material, By Application, By Capacity & Forecast, 2024 - 2032