Fuel Storage Tank Market is Likely to Increase at a Significantly High CAGR during Forecast Period 2031 | AG Growth International, Hasse Tank GmbH, Vitol Inc., Tuffa Tank

The global fuel storage tank market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period. The growing demand for fuel storage across the globe to meet the growing energy demand is a key factor driving the growth of the global fuel storage tank market. For instance, in January 2023, Tanzania's Ministry of Energy and UAE's Emirates National Oil Company Group (ENOC) have signed a memorandum of understanding (MoU) for the construction of petroleum receiving and storage infrastructure. The new infrastructure will reduce delay times for offloading oil products, especially in transit to neighboring countries.

Further, in October 2022, VINCI, through its subsidiary Cobra IS in a consortium with Sener contracted to build Germany's first regasification terminal. It will have a production capacity of 10 billion m3 of natural gas per year and will have two 165,000 m3 storage tanks. The terminal will also be equipped with auxiliary operating systems, infrastructure, and buildings. This terminal will provide strategic infrastructure for the customer German LNG Terminal and will be located at Brunsbüttel at the mouth of the Elbe on the North Sea. It will enable Germany to import liquefied natural gas by sea, to be unloaded there for storage and regasification before being injected into the German grid or transported by lorries or wagons.

Furthermore, in October 2021, Chemie-Tech has been awarded an Engineering, Procurement, Construction & Commissioning contract from HPCL Rajasthan Refinery Ltd (HRRL) for Cryogenic Double Wall Storage Tanks (DWST) and associated facilities - Package 7 (Part-A) at HPCL Rajasthan Refinery Ltd in Rajasthan, India. Such huge demand for large storage tanks across the globe is thus driving the market growth.

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Market Coverage

• The market number available for - 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

Segment Covered-

· By Material Type

· By Application

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

• Competitive Landscape- including AG Growth International, Hasse Tank GmbH, Vitol Inc., Tuffa Tank, and Shawcor Ltd., among others

Fuel Storage Tank Market Report Segment

By Material Type

· Steel Tank

· Fiberglass Tank

· Other

By Application

· Residential

· Commercial

· Industrial

A full Report of Fuel Storage Tank Market is Available @ https://www.omrglobal.com/industry-reports/fuel-storage-tank-market

Fuel Storage Tank Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

· AG Growth International

· Fesenergy Group

· Granby Industries

· Haase Tank GmbH

· Kardtech Inc.

· Meridian Manufacturing Inc.

· NOV (Belco)

· Royal Vopak N.V.

· Shawcor Ltd.

· Tuffa Tank

· Vitol, Inc.

· Western Global

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1. We cover more than 15 major industries, further segmented into more than 90 sectors.

2. More than 120 countries are for analysis.

3. Over 100+ paid data sources mined for investigation.

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