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Storage Tank Market Share, Size, Growth Strategies And Demand Factors Report To 2032
Storage Tank Global Market
The Business Research Company's Storage Tank Global Market Report 2023 identifies Increasing water scarcity in several regions as the major driver for the Storage Tank market's growth in the forecast period. Water scarcity limits access to safe water for drinking and for practising basic hygiene at home, in schools, and in healthcare facilities. Storage tanks are used to store water and make it accessible for multiple uses, including drinking, irrigation, fire suppression, and others.
The global storage tank market size will grow from $14.22 billion in 2022 to $15.16 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global storage tank is expected to grow to $19.55 billion in 2027 at a CAGR of 6.6%.
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Major competitors in the Storage Tank market are McDermott (US), CST Industries (US), PermianLide (US), Fox Tank Company (US), Highland Tank & Manufacturing Company Inc., (US), Superior Tank Co. Inc., (US), Ishii Iron Works Co. Ltd. (Japan), MEKRO Sp. z o.o. (Poland), Pfaudler (US).
A key trend in the Storage Tank market includes Product innovations. Companies operating in the storage tank market are developing new products to strengthen their position in the market.
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The Storage Tank market is segmented -
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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Storage Tank market.
The Business Research Company's "Global Storage Tank Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Storage Tank Market Include:
1. Executive Summary
2. Storage Tank Market Characteristics
3. Storage Tank Market Trends And Strategies
4. Storage Tank Market - Macro Economic Scenario
5. Storage Tank Market Size And Growth
……
27. Storage Tank Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Storage Tank Market
29. Storage Tank Market Future Outlook And Potential Analysis
30. Appendix
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