Press release
Global Storage Tank Market Forecasted to Grow at 4.52% CAGR, Reaching $13.02 Billion by 2030, Says Stellar Market Research
Storage Tank Market
Storage Tank Market was valued nearly US$ 12.98 Bn. in 2023. Global Storage Tank Market size is estimated to grow at a CAGR of 4.52% and is expected to reach at US$ 13.02 Bn. by 2030.
Storage Tank Market Overview:
Storage tanks are essential containers designed to store compressed gases, liquids, or other mediums for both short-term and long-term use, including the storage of petroleum, water, chemicals, waste, and hazardous materials. These tanks must adhere to stringent industry regulations and standards to ensure safety and effectiveness.
๐๐ง๐ฅ๐จ๐๐ค ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ฎ๐ซ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:https://www.stellarmr.com/report/req_sample/Storage-Tank-Market/138
What are Storage Tank Market Dynamics?
The global Storage Tank Market is experiencing significant growth, driven by several key factors. The increased adoption of concentrated solar power (CSP) technology is boosting power generation capacities and meeting the rising global energy demand. Additionally, the use of high-manganese steel in LNG storage tanks supports the growth of LNG projects and the energy sector. Rapid urbanization, industrialization, and the growing demand for CNG vehicles, along with expanding industries such as food & beverage and petrochemical sectors, further contribute to the market's expansion.
What is Storage Tank Marketb Regional Insight?
Regional analysis highlights the diverse dynamics influencing the Storage Tank Market. The Asia-Pacific (APAC) region leads the market with a 32.67% share, driven by a burgeoning manufacturing sector and a growing population. Key factors contributing to this dominance include the increasing use of storage tanks in India and China, driven by infrastructure developments for LNG transport, rising demand for water storage solutions, plastic water tanks, and the expanding food & beverage sector.
North America holds the second-largest market share at 21.1% as of 2023, largely due to the rise in shale gas production. The presence of companies specializing in water storage tank maintenance, such as Maguire Iron and SUEZ, also supports this market position. Additionally, growing investments by manufacturers in developing regions like the Middle East & Africa (MEA) and South America are further fueling the global growth of the storage tank market.
What is Storage Tank Market Segmentation?
By Product
Hazardous
Non-Hazardous
By Material
Steel
Concrete
Polyethylene
Others
By Industry Vertical
Oil And Gas
Chemical
Water
Food And Beverage
Others
๐ ๐๐๐ ๐๐๐ญ ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ! @https://www.stellarmr.com/report/req_sample/Storage-Tank-Market/138
Some of the current players in the Storage Tank Market are:
McDermott (US)
Tank Connection(US)
CST Industries (US)
PermianLide (US)
Fox Tank Company (US)
Highland Tank & Manufacturing Company Inc. (US)
T.F. Warren Group (Canada OYO KANETSU KK (Japan)
Superior Tank Co. Inc. (US)
Snyder Industries Inc (US)
Ishii Iron Works Co. Ltd (Japan)
MEKRO Sp. z o.o. (Poland)
Pfaudler (US)
zcl composite(Canada)
Caldwell Tanks (US)
Crom Corporation(US)
L.F. Manufacturing(US)
Synalloy Corporation(US)
Assmann(Germany)
Sintex Industries Limited (India)
Toyo Kanetsu K.K.(Japan)
Wuxi Xinkaihe tank(China)
Motherwell Bridge(UK)
CIMC(china)
๐ ๐จ๐ซ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ข๐ฌ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฅ๐๐๐ฌ๐ ๐๐ข๐ฌ๐ข๐ญ:https://www.stellarmr.com/report/Storage-Tank-Market/138
Key Questions answered in the Storage Tank Market Report are:
Which region held the largest market share in the Storage Tank Market?
What is the expected Storage Tank market size by 2030?
Which factors are the opportunities for the Storage Tank market growth?
What are investment opportunities for the Storage Tank market?
What are the recent industry trends that were implemented to generate additional revenue streams for the Storage Tank Market?
Which segment dominates the Storage Tank Market?
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Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
sales@stellarmr.com
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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