Storage Tank Industry Expected to Expand to USD 26.52 Billion by 2030

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐀𝐜𝐫𝐨𝐬𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬

The global storage tank market is undergoing significant transformation, driven by the increasing demand from industries such as oil and gas, chemicals, and water treatment. Valued at USD 16.40 Bn in 2023, the market is anticipated to grow at a CAGR of 7.1% during the forecast period, reaching USD 26.52 Bn by 2030. Storage tanks play a pivotal role in supporting industrial growth, offering solutions for safe and efficient material storage. This press release delves into the market dynamics, country-specific trends, and recent developments.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐝𝐚𝐭𝐚 𝐚𝐧𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐯𝐢𝐞𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 @https://www.maximizemarketresearch.com/request-sample/195623/

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam's storage tank market is expanding rapidly, fueled by industrialization and urbanization. The government's investment in infrastructure projects and the growing demand for oil and gas storage have been key drivers. 𝐏𝐞𝐭𝐫𝐨𝐕𝐢𝐞𝐭𝐧𝐚𝐦 recently announced plans to expand its storage capacity by collaborating with international partners. Trends indicate an increasing adoption of advanced materials to enhance durability and efficiency.

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand presents lucrative opportunities in the storage tank market, particularly in the energy and water treatment sectors. Companies like 𝐓𝐡𝐚𝐢 𝐎𝐢𝐥 𝐏𝐮𝐛𝐥𝐢𝐜 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 are investing in modern storage solutions to meet the rising demand for petrochemical products. Recent developments include the establishment of smart storage systems equipped with IoT technology to improve monitoring and maintenance.

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

Japan's storage tank market is characterized by innovation and sustainability. Companies such as 𝐒𝐮𝐦𝐢𝐭𝐨𝐦𝐨 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧 are focusing on the development of eco-friendly tanks using advanced composites. Trends show a rise in LNG (liquefied natural gas) storage tanks to support the country's energy transition goals. Recent mergers, such as Mitsubishi Chemical's acquisition of a storage tank component manufacturer, reflect the market's dynamism.

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐂𝐡𝐢𝐧𝐚

China's storage tank market is dominated by large-scale investments and consolidation activities. Key players like 𝐂𝐡𝐢𝐧𝐚 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐏𝐞𝐭𝐫𝐨𝐥𝐞𝐮𝐦 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧 (𝐂𝐍𝐏𝐂) are leading the development of high-capacity storage solutions for crude oil and natural gas. Recent partnerships, including Sinopec's collaboration with European tank manufacturers, have enhanced technological capabilities and production efficiency.

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea's storage tank market is advancing with cutting-edge technology integration. Companies like 𝐇𝐲𝐮𝐧𝐝𝐚𝐢 𝐇𝐞𝐚𝐯𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 are pioneering smart storage tank systems with automation and AI features. The country's strategic focus on LNG and chemical storage has driven significant growth. Recent developments include POSCO's investment in high-strength steel for advanced storage tank construction.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐞𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐯𝐢𝐚 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 @https://www.maximizemarketresearch.com/request-sample/195623/

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore remains a key player in the global storage tank market due to its strategic location and robust infrastructure. Companies like 𝐉𝐮𝐫𝐨𝐧𝐠 𝐏𝐨𝐫𝐭 𝐓𝐚𝐧𝐤 𝐓𝐞𝐫𝐦𝐢𝐧𝐚𝐥𝐬 are expanding their storage capacities to accommodate the growing demand for refined petroleum products. Government initiatives promoting green energy storage solutions have further bolstered the market's growth.

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒

The US leads the global storage tank market, driven by its strong oil and gas industry and increasing investments in water treatment facilities. Major players like 𝐂𝐒𝐓 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 are spearheading innovations in modular and corrosion-resistant tanks. Recent mergers, such as McDermott International's acquisition of advanced storage tank technologies, highlight the market's focus on innovation and capacity expansion.

𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe's storage tank market is evolving rapidly, with a focus on renewable energy storage and sustainability. Companies like 𝐑𝐨𝐲𝐚𝐥 𝐃𝐮𝐭𝐜𝐡 𝐒𝐡𝐞𝐥𝐥 are investing in hydrogen storage tanks to support the green energy transition. Recent developments include ArcelorMittal's partnership with storage tank manufacturers to develop lightweight and durable tank materials, reinforcing Europe's commitment to innovation.

𝐆𝐞𝐭 𝐚 𝐜𝐥𝐨𝐬𝐞𝐫 𝐥𝐨𝐨𝐤 𝐚𝐭 𝐭𝐡𝐞 𝐠𝐚𝐦𝐞-𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 :https://www.maximizemarketresearch.com/request-sample/195623/

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐛𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐓𝐲𝐩𝐞

Steel Storage Tanks
Concrete Storage Tanks
Fiberglass Reinforced Plastic (FRP) Storage Tanks
Polyethylene Storage Tanks
Others

Steel storage tanks, concrete storage tanks, fiberglass reinforced plastic (FRP) storage tanks, polyethylene storage tanks, and others are the many material types that make up the market. In 2022, steel storage tanks accounted for the highest share of the storage tank market, and they are anticipated to maintain this position throughout the forecast period. Chemicals, water and wastewater, oil and gas, and other industries all employ steel storage tanks. Steel is a material with appealing structural integrity and durability. In order to ensure long-term dependability and effective safety, steel tanks have been battling harsh environmental conditions and extremely high temperatures. Corrosion-resistant coatings have been applied to steel tanks during manufacturing.

𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞

Aboveground Storage Tanks
Underground Storage Tanks

𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Storage of Portable Water
Rain Water Harvesting
Water Storage for Firefighting
Others

Over the course of the forecast period, portable water storage is anticipated to dominate the storage tank market. Clean, drinkable water is kept in storage tanks for the purpose of preserving it. Both home and business environments make use of these tanks. By holding water during times when it is most available, like off-peak hours or during rainy seasons, they are primarily utilized to control the water supply. This ensures a steady supply of drinkable water by helping to balance the water supply.

𝐛𝐲 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲

Less than 5000 cubic meters
5000-15000 cubic meters
15000-30000 cubic meters
Above 30000 cubic meters

𝐛𝐲 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫

Oil and Gas
Water and Wastewater
Food and Beverage
Pharmaceuticals
Agriculture
Others

𝐆𝐞𝐭 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬:https://www.maximizemarketresearch.com/market-report/storage-tank-market/195623/

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

1. Balmoral Tanks Ltd, DN Tanks
2. CST Industries, Inc.
3. Emiliana Serbatoi S.r.l.
4. Caldwell Tanks
5. Sintex Industries Ltd
6. McDermott International Inc.
7. Containment Solutions, Inc.
8. Carbery Plastics Limited
9. Nova Plastic Industries L.L.C
10. Fox Tank Company
11. Highland Tank and Manufacturing Company Inc
12. Ishii Iron Works Co. Ltd.
13. MERKRO Sp. z o.o
14. Pfaudler
15. Toyo Knetsu k.K.
16. Snyder Industries iNc
17. Caldwell tanks
18. Tank Connection
19. DN tank
20. Fiber Technology Corporation Ins.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐨𝐮𝐫 𝐭𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐭𝐨 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐬𝐡𝐢𝐟𝐭𝐬 :

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