Storage Tank Global Market Report 2026

Storage tanks are containers used for short- or long-term storage of liquids, compressed gases, or mediums for heat or cold storage. They serve single or dual purposes based on location within the system and configuration.

Storage tanks primarily fall into two categories such as aboveground and underground tanks. Aboveground tanks are susceptible to pitting and crevice corrosion, often due to the pressure exerted between the tank and the soil. They are constructed from various materials including steel, concrete, polyethylene, and other substances. These tanks serve multiple sectors such as the petroleum, chemical, grain and oil, food industries, and various other applications.

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.

Tariffs on imported storage tanks have impacted the market by increasing costs and disrupting supply chains, particularly for steel and polyethylene tanks in north america, europe, and asia-pacific. These tariffs have affected petroleum, chemical, and food industry applications, raising operational expenses. However, they have also encouraged domestic manufacturing, innovation in corrosion-resistant and modular designs, and accelerated adoption of energy-efficient and smart storage tank solutions.

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

The storage tank market size has grown strongly in recent years. It will grow from $15.49 billion in 2025 to $16.42 billion in 2026 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growth of petroleum and chemical industries, expansion of food and grain storage facilities, increasing demand for water and wastewater management, conventional use of steel and concrete tanks, rise in industrial manufacturing activities.

The storage tank market size is expected to see strong growth in the next few years. It will grow to $20.72 billion in 2030 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increasing adoption of renewable energy storage solutions, rising demand for underground and aboveground storage tanks, growth of automation and smart monitoring in industrial tanks, expansion of chemical and petrochemical storage requirements, adoption of lightweight and sustainable tank materials. Major trends in the forecast period include adoption of smart monitoring and iot-enabled storage tanks, integration of automation in tank fabrication and maintenance, use of advanced coatings and corrosion-resistant materials, implementation of energy-efficient heating and cooling systems, rising demand for modular and customizable tank designs.

The rising water scarcity is expected to drive the growth of the storage tank market in the coming years. Water scarcity refers to situations where water demand exceeds available supply or where water quality is insufficient for safe use, restricting access for drinking, sanitation, agriculture, and other essential purposes. This issue is intensifying due to growing population pressures and limited freshwater resources in several regions. Storage tanks help mitigate water scarcity by storing water and making it available for various uses, including drinking, irrigation, and fire suppression. For example, in November 2023, the United Nations Children's Fund (UNICEF), a U.S.-based children's rights agency, reported that 1 in 3 children, or 739 million worldwide, live in areas facing high or very high water scarcity, highlighting worsening global water stress. Consequently, increasing water scarcity is driving the growth of the storage tank market.

Within the storage tank market, a prevailing trend involves product innovation, wherein companies strive to fortify their market positions by introducing new products. In October 2023, Slovnaft, a prominent Slovakia-based oil refinery company, launched a cutting-edge ethylene storage tank specifically designed for liquefied ethylene storage. This non-pressurized double-walled cylindrical vessel, measuring 30 meters in diameter and 26.7 meters in height, boasts a capacity of 6,000 tons (10,000 m3) of liquid ethylene. It maintains a storage temperature of -103 degrees Celsius under an overpressure of 8 kPa (g), presenting an innovative solution in the ethylene storage domain.

In March 2024, Welspun Group, a fabric product manufacturer based in India, acquired Sintex, a leading water tank manufacturer, for $148.9 million (₹1,251 crore). This acquisition is intended to strengthen Welspun's building material portfolio, a key component of its overall business-to-consumer (B2C) strategy. Sintex specializes in the manufacturing of water storage tanks in India.

Major companies operating in the storage tank market report are McDermott International Inc., PermianLide LLC, Sintex Industries Limited, Pfaudler Group, Toyo Kanetsu K.K., Synalloy Corporation, Caldwell Tanks Inc., Snyder Industries Inc., CST Industries Inc., Highland Tank & Manufacturing Company Inc., ZCL Composites Inc., Crom Corporation, Tank Connection Affiliate Group, DN Tanks Inc., Containment Solutions Inc., Poly Processing Company LLC, Tanco Engineering Inc., Tarsco LLC, Modern Welding Company Inc., Fisher Tank Company, Fox Tank Company, Superior Tank Co Inc., Fiber Technology Corporation Inc., Ishii Iron Works Co Ltd, MEKRO Sp. z o.o., Norwesco Industries, Heartland Tank Companies, Steel Tank and Fabricating Corporation, Tankmart International LLC, Motherwell Tank Protection Limited

North America was the largest region in the storage tank market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the storage tank market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the storage tank market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The storage tank market consists of sales of low carbon steel, medium carbon steel, high carbon steel, and stainless steel. 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.

Storage Tank Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses storage tank market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for storage tank ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The storage tank market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Aboveground Storage Tanks; Underground Storage Tanks
• 2) By Material: Steel; Concrete; Polyethylene; Other Materials
• 3) By Application: Petroleum Industry; Chemical Industry; Grain And Oil Industry; Food Industry; Other Applications
• Subsegments:
• 1) By Aboveground Storage Tanks: Fixed-Roof Tanks; Floating-Roof Tanks; Cone Roof Tanks; Bullet Tanks
• 2) By Underground Storage Tanks: Single-Walled Tanks; Double-Walled Tanks; Fiberglass Tanks; Steel Tanks
• Companies Mentioned: McDermott International Inc.; PermianLide LLC; Sintex Industries Limited; Pfaudler Group; Toyo Kanetsu K.K.; Synalloy Corporation; Caldwell Tanks Inc.; Snyder Industries Inc.; CST Industries Inc.; Highland Tank & Manufacturing Company Inc.; ZCL Composites Inc.; Crom Corporation; Tank Connection Affiliate Group; DN Tanks Inc.; Containment Solutions Inc.; Poly Processing Company LLC; Tanco Engineering Inc.; Tarsco LLC; Modern Welding Company Inc.; Fisher Tank Company; Fox Tank Company; Superior Tank Co Inc.; Fiber Technology Corporation Inc.; Ishii Iron Works Co Ltd; MEKRO Sp. z o.o.; Norwesco Industries; Heartland Tank Companies; Steel Tank and Fabricating Corporation; Tankmart International LLC; Motherwell Tank Protection Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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