Press release
Storage Tank Equipment Market Outlook 2025-2035: Key Developments and Future Scope
Storage Tank Equipment Market
According to Future Market Insights (FMI), the market is valued at USD 5.9 billion in 2025 and is projected to reach USD 9.6 billion by 2035, expanding at a compound annual growth rate (CAGR) of 5.1%.
The FMI report, "Storage Tank Equipment Market Size, Share, and Forecast 2025-2035," indicates global revenues will grow by nearly USD 3.7 billion over the decade, propelled by demand for advanced safety systems, monitoring technologies, and eco-friendly materials amid stringent regulatory compliance and industrial automation.
A Decade of Growth Anchored by Safety Innovations and Smart Monitoring:
The shift toward automated, sensor-equipped equipment and corrosion-resistant solutions is redefining storage reliability. Between 2025 and 2030, the storage tank equipment market will expand by USD 1.6 billion, led by modernization in oil & gas and chemicals sectors.
Between 2030 and 2035, FMI forecasts an additional USD 2.1 billion in market growth, reflecting deeper integration of IoT for real-time leak detection, predictive maintenance, and energy-efficient designs.
"Safety and protection equipment is evolving from basic fittings to intelligent systems that prevent hazards and optimize operations," noted an FMI research analyst. "Advancements in materials and digital integration are key to meeting global sustainability and compliance demands."
Storage Tank Equipment Key Market Insights at a Glance:
- Metric- Global Estimate
- Market Value (2025)- USD 5.9 billion
- Forecast Value (2035)- USD 9.6 billion
- CAGR- 5.1%
- Top Type- Safety and Protection Equipment (33.8% share)
- Dominant Material- Carbon Steel (36.1% share)
- Fastest-Growing Region- East Asia (6.9% CAGR in China)
China: The Fastest-Growing Storage Tank Equipment Market:
FMI's companion study, "China Storage Tank Equipment Market Outlook 2025-2035," underscores China's role as a global powerhouse. The market is valued at USD 1.2 billion in 2025 and projected to reach USD 2.1 billion by 2035, growing at a CAGR of 6.9%.
This surge is driven by rapid industrialization in chemicals, petroleum refining, food processing, and renewable energy storage, alongside massive infrastructure projects under national development plans. Vertical tanks already dominate with over 55% share, favored for space efficiency in urban facilities.
Indirect sales channels, including specialized industrial platforms, are accelerating adoption, with e-procurement rising 15% annually in key sectors.
Storage Tank Equipment Five Forces Driving Market Expansion:
Safety Prioritization: Pressure relief valves, flame arrestors, and overflow alarms mitigate risks in hazardous environments, spurred by global regulations like OSHA and EU ATEX standards.
Digital Monitoring Integration: IoT sensors enable real-time data analytics, reducing downtime by up to 25% through predictive alerts.
Infrastructure Boom: Worldwide investments in water & wastewater and petrochemical facilities are set to increase 35% by 2035, boosting equipment demand.
Sustainability Imperative: Shift to recyclable carbon steel and FRP materials supports net-zero goals, with low-emission coatings cutting corrosion by 40%.
Supply Chain Optimization: Direct and indirect channels streamline procurement, with online platforms enhancing access for SMEs in emerging markets.
Storage Tank Equipment Market Segment Overview:
By Type: Safety and protection equipment leads with 33.8% of global revenue in 2025, followed by monitoring tools and fluid handling systems, as industries prioritize hazard prevention.
By Material: Carbon steel holds 36.1% share, valued for its durability and cost-effectiveness; stainless steel grows fastest at 5.8% CAGR for corrosive applications.
By Tank Type: Vertical tanks command 54.6% dominance, ideal for large-scale storage in oil & gas; horizontal variants suit space-constrained sites.
By Application: Oil & gas tops with 32% share, trailed by chemicals (25%) and water & wastewater (18%), amid rising global energy and treatment needs.
By Distribution Channel: Indirect sales lead at 62% share, with online segments expanding at 6.2% CAGR via digital marketplaces.
Storage Tank Equipment Market Regional Overview:
North America: Growth at 4.5% CAGR, anchored by U.S. shale oil expansions and water infrastructure upgrades, reaching USD 1.8 billion by 2035.
Europe: From USD 1.4 billion in 2025 to USD 2.3 billion by 2035 (CAGR 5.0%), with Germany and France driving chemical and pharma demands.
Asia Pacific: Fastest regionally at 6.2% CAGR, propelled by China (6.9%) and India (6.4%) amid industrial and renewable surges.
Middle East & Africa: 5.3% CAGR, led by Saudi Arabia's Vision 2030 oil projects and South Africa's water initiatives.
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Storage Tank Equipment Market Competitive Landscape:
* OPW
* Balmoral Tanks
* ERGIL
* Franklin Electric
* Hansa Engineering
* Kay Tank
* Mass Tank Corp
* Potential Engineering
* PROTEGO
* Ramén Valves
* Rainwater Equipment LLC
* TEC Container Solutions
* TCEM
* Water Storage Tanks, Inc.
* NOV
Collectively, OPW, PROTEGO, and ERGIL capture about 35% of global share. Their emphasis on smart safety features, sustainable materials, and customized solutions positions them to lead in a maturing, tech-infused market.
Storage Tank Equipment Market Outlook: Safeguarding the Future of Storage:
Over the next decade, the storage tank equipment market will transcend traditional hardware toward resilient, data-driven ecosystems. Innovations like AI-optimized valves, corrosion-resistant alloys, and modular designs will enhance efficiency and environmental stewardship.
"Storage solutions are becoming proactive guardians of industrial assets," the FMI analyst concluded. "Companies embracing digital twins and green retrofits will not only comply with evolving standards but also unlock new efficiencies in a resource-constrained world."
Related Reports:
Vacuum Evaporators Market - https://www.futuremarketinsights.com/reports/vacuum-evaporators-market
LCR Meters Market - https://www.futuremarketinsights.com/reports/lcr-meter-market
Air Blade Dryer Market - https://www.futuremarketinsights.com/reports/air-blade-dryer-market
Have a specific Requirements and Need Assistant on Report Pricing or Limited Budget please contact us - sales@futuremarketinsights.com
About Future Market Insights (FMI)
Future Market Insights, Inc. (FMI) is an ESOMAR-certified, ISO 9001:2015 market research and consulting organization, trusted by Fortune 500 clients and global enterprises. With operations in the U.S., UK, India, and Dubai, FMI provides data-backed insights and strategic intelligence across 30+ industries and 1200 markets worldwide.
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