| Product Code: ETC13193846 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sumit Sagar | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Storage Tank Market was valued at USD 14 Billion in 2024 and is expected to reach USD 20 Billion by 2031, growing at a compound annual growth rate of 6.60% during the forecast period (2025-2031).
The Global Storage Tank Market is experiencing steady growth driven by factors such as increasing investments in the oil & gas industry, growing demand for petrochemicals, and expanding industrial infrastructure worldwide. The market comprises various types of storage tanks including aboveground and underground tanks, used for storing liquids such as crude oil, chemicals, water, and others. Moreover, stringent regulations mandating the use of storage tanks for safety and environmental protection further fuel the market growth. North America and the Asia-Pacific regions are key markets due to their significant oil & gas activities and rapid industrialization. The market is characterized by the presence of major players like CST Industries, Inc., CB&I, and Belco Manufacturing Company, among others, focusing on technological advancements and strategic partnerships to maintain their market position.
The Global Storage Tank Market is experiencing significant growth driven by increasing demand from industries such as oil and gas, chemicals, water and wastewater, and others. Key trends in the market include the adoption of advanced technologies like Internet of Things (IoT) for remote monitoring, increasing focus on sustainability and environmental regulations leading to the development of eco-friendly storage solutions, and a shift towards larger storage capacities to meet growing industrial needs. Opportunities in the market lie in emerging economies where infrastructure development is driving demand for storage tanks, as well as the growing need for storage solutions for renewable energy sources. Market players are also focusing on innovations such as modular and flexible tank designs to cater to diverse customer requirements and enhance operational efficiency.
The Global Storage Tank Market faces several challenges, including stringent regulations and compliance requirements regarding safety and environmental standards, which can increase operational costs for companies. Additionally, fluctuating raw material prices, such as steel and aluminum, impact the overall manufacturing costs of storage tanks. Market volatility, geopolitical uncertainties, and trade tensions also pose challenges for companies operating in the storage tank industry, leading to uncertainty in demand and supply dynamics. Furthermore, the need for continuous technological advancements to improve tank design, monitoring systems, and maintenance practices presents a challenge for manufacturers to stay competitive in the market. Overall, navigating these challenges requires strategic planning, innovation, and a strong focus on sustainability to drive growth in the Global Storage Tank Market.
The Global Storage Tank Market is primarily driven by the increasing demand for storage infrastructure across industries such as oil and gas, chemicals, water and wastewater, and pharmaceuticals. The growing need for safe and secure storage solutions to accommodate the rising production and consumption of liquids such as crude oil, chemicals, and water is fueling the market growth. Additionally, stringent government regulations regarding environmental protection and safety standards are pushing companies to invest in advanced storage tank technologies to prevent leaks and spills. The market is also influenced by factors such as expanding industrial activities, rapid urbanization, and infrastructure development in emerging economies, all of which contribute to the growing demand for storage tanks worldwide.
Government policies related to the Global Storage Tank Market vary by country, but generally focus on ensuring safety, environmental protection, and compliance with industry standards. Regulations often cover aspects such as tank construction, maintenance, inspection, and spill prevention. For example, in the United States, the Environmental Protection Agency (EPA) oversees regulations related to storage tanks under the Resource Conservation and Recovery Act (RCRA) and the Spill Prevention, Control, and Countermeasure (SPCC) rule. Other countries may have similar regulatory frameworks to address issues like corrosion prevention, leak detection, and secondary containment requirements. These policies aim to minimize risks associated with storing hazardous materials and protect public health and the environment. Compliance with these regulations is crucial for companies operating in the storage tank market to avoid penalties and maintain a good reputation.
The Global Storage Tank Market is projected to experience steady growth in the coming years, driven by factors such as increasing demand for oil and gas, growing investments in infrastructure development, and rising need for water storage solutions. The market is expected to expand further with advancements in technology leading to the development of more efficient and cost-effective storage solutions. Environmental regulations and sustainability considerations are also likely to fuel the demand for innovative storage tank solutions. Additionally, the market is anticipated to witness significant growth in emerging economies as they ramp up their industrial activities and invest in expanding their storage capacities. Overall, the Global Storage Tank Market is poised for growth opportunities, with a focus on enhancing operational efficiency and sustainability driving market trends.
In the global storage tank market, Asia Pacific is anticipated to witness significant growth due to increasing industrial activities and infrastructure development in countries like China and India. North America is expected to dominate the market due to the presence of a well-established oil and gas industry and increasing investments in the energy sector. Europe is likely to witness steady growth driven by strict regulations regarding environmental protection and storage tank safety. The Middle East and Africa region is projected to experience growth due to the expansion of the oil and gas sector. Latin America is expected to showcase moderate growth due to the rising demand for storage tanks in industries such as oil & gas, chemicals, and water treatment.
Global Storage Tank Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Storage Tank Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Storage Tank Market Revenues & Volume, 2021 & 2031F |
3.3 Global Storage Tank Market - Industry Life Cycle |
3.4 Global Storage Tank Market - Porter's Five Forces |
3.5 Global Storage Tank Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Storage Tank Market Revenues & Volume Share, By Material Type, 2021 & 2031F |
3.7 Global Storage Tank Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Global Storage Tank Market Revenues & Volume Share, By Installation Type, 2021 & 2031F |
3.9 Global Storage Tank Market Revenues & Volume Share, By Capacity, 2021 & 2031F |
3.10 Global Storage Tank Market Revenues & Volume Share, By End-use Industry, 2021 & 2031F |
4 Global Storage Tank Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Storage Tank Market Trends |
6 Global Storage Tank Market, 2021 - 2031 |
6.1 Global Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Storage Tank Market, Revenues & Volume, By Top Wear, 2021 - 2031 |
6.1.3 Global Storage Tank Market, Revenues & Volume, By Plastic, 2021 - 2031 |
6.1.4 Global Storage Tank Market, Revenues & Volume, By Metal, 2021 - 2031 |
6.1.5 Global Storage Tank Market, Revenues & Volume, By FRP, 2021 - 2031 |
6.1.6 Global Storage Tank Market, Revenues & Volume, By Others, 2021 - 2031 |
6.2 Global Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Storage Tank Market, Revenues & Volume, By Fluorocarbon, 2021 - 2031 |
6.2.3 Global Storage Tank Market, Revenues & Volume, By Inorganic, 2021 - 2031 |
6.2.4 Global Storage Tank Market, Revenues & Volume, By Hydrocarbon/Natural, 2021 - 2031 |
6.3 Global Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Storage Tank Market, Revenues & Volume, By Up to 50 cu. ft., 2021 - 2031 |
6.3.3 Global Storage Tank Market, Revenues & Volume, By 50 cu. ft. to 100 cu. ft., 2021 - 2031 |
6.3.4 Global Storage Tank Market, Revenues & Volume, By Above 100 cu. ft., 2021 - 2031 |
6.4 Global Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Storage Tank Market, Revenues & Volume, By Less than 1,000 Gallons, 2021 - 2031 |
6.4.3 Global Storage Tank Market, Revenues & Volume, By 1,001 to 10,000 Gallons, 2021 - 2031 |
6.4.4 Global Storage Tank Market, Revenues & Volume, By Above 10,001 Gallons, 2021 - 2031 |
6.5 Global Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Storage Tank Market, Revenues & Volume, By Power Generation, 2021 - 2031 |
6.5.3 Global Storage Tank Market, Revenues & Volume, By Petrochemical, 2021 - 2031 |
6.5.4 Global Storage Tank Market, Revenues & Volume, By Paper & Pulp, 2021 - 2031 |
6.5.5 Global Storage Tank Market, Revenues & Volume, By Food & Beverage, 2021 - 2031 |
6.5.6 Global Storage Tank Market, Revenues & Volume, By Water & Wastewater, 2021 - 2031 |
6.5.7 Global Storage Tank Market, Revenues & Volume, By Oil & Gas, 2021 - 2031 |
6.5.8 Global Storage Tank Market, Revenues & Volume, By Others, 2021 - 2031 |
7 North America Storage Tank Market, Overview & Analysis |
7.1 North America Storage Tank Market Revenues & Volume, 2021 - 2031 |
7.2 North America Storage Tank Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Storage Tank Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Storage Tank Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Storage Tank Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
7.4 North America Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
7.5 North America Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
7.6 North America Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
7.7 North America Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
8 Latin America (LATAM) Storage Tank Market, Overview & Analysis |
8.1 Latin America (LATAM) Storage Tank Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Storage Tank Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Storage Tank Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Storage Tank Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Storage Tank Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Storage Tank Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
8.4 Latin America (LATAM) Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
8.5 Latin America (LATAM) Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
8.6 Latin America (LATAM) Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
8.7 Latin America (LATAM) Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
9 Asia Storage Tank Market, Overview & Analysis |
9.1 Asia Storage Tank Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Storage Tank Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Storage Tank Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Storage Tank Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Storage Tank Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Storage Tank Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
9.4 Asia Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
9.5 Asia Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
9.6 Asia Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
9.7 Asia Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
10 Africa Storage Tank Market, Overview & Analysis |
10.1 Africa Storage Tank Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Storage Tank Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Storage Tank Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Storage Tank Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Storage Tank Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Storage Tank Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
10.4 Africa Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
10.5 Africa Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
10.6 Africa Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
10.7 Africa Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
11 Europe Storage Tank Market, Overview & Analysis |
11.1 Europe Storage Tank Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Storage Tank Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Storage Tank Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Storage Tank Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Storage Tank Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Storage Tank Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
11.4 Europe Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
11.5 Europe Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
11.6 Europe Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
11.7 Europe Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
12 Middle East Storage Tank Market, Overview & Analysis |
12.1 Middle East Storage Tank Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Storage Tank Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Storage Tank Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Storage Tank Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Storage Tank Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Storage Tank Market, Revenues & Volume, By Material Type, 2021 - 2031 |
12.4 Middle East Storage Tank Market, Revenues & Volume, By Application, 2021 - 2031 |
12.5 Middle East Storage Tank Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
12.6 Middle East Storage Tank Market, Revenues & Volume, By Capacity, 2021 - 2031 |
12.7 Middle East Storage Tank Market, Revenues & Volume, By End-use Industry, 2021 - 2031 |
13 Global Storage Tank Market Key Performance Indicators |
14 Global Storage Tank Market - Export/Import By Countries Assessment |
15 Global Storage Tank Market - Opportunity Assessment |
15.1 Global Storage Tank Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Storage Tank Market Opportunity Assessment, By Material Type, 2021 & 2031F |
15.3 Global Storage Tank Market Opportunity Assessment, By Application, 2021 & 2031F |
15.4 Global Storage Tank Market Opportunity Assessment, By Installation Type, 2021 & 2031F |
15.5 Global Storage Tank Market Opportunity Assessment, By Capacity, 2021 & 2031F |
15.6 Global Storage Tank Market Opportunity Assessment, By End-use Industry, 2021 & 2031F |
16 Global Storage Tank Market - Competitive Landscape |
16.1 Global Storage Tank Market Revenue Share, By Companies, 2024 |
16.2 Global Storage Tank Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |