
Storage Tank Global Market Insights 2025, Analysis and Forecast to 2030, by Market Participants, Regions, Technology, Application
Description
Storage Tank Market Summary
Storage Tanks are large containers designed to store liquids and gases, widely used in chemicals, oil and gas, power generation, water and wastewater treatment, and other applications. Constructed from materials like steel or composites, they provide safe, reliable storage solutions. The Storage Tank industry is an essential segment of the global industrial equipment market, characterized by its durability, scalability, and adaptability to various storage needs. The market is driven by demand from energy and chemical storage, industrial growth, and infrastructure projects, particularly in resource-rich regions. However, it faces challenges from high installation costs, competition from pressure vessels, and raw material price fluctuations, shaping its growth trajectory in a competitive landscape.
Market Size and Growth Forecast
The global Storage Tank market is estimated at approximately USD 15.2 to 20.5 billion in 2025, with a projected compound annual growth rate (CAGR) of 3.9% to 5.3% from 2025 to 2030, reaching USD 18.5 to 26.0 billion by 2030. This growth reflects steady demand from key industries, supported by industrial and energy trends, though moderated by cost and competition factors.
Regional Analysis
North America: Holding 25-30% of the market share, North America grows at 3-4%. The United States leads with demand in oil and gas, driven by energy storage needs. Trends focus on safety and capacity upgrades.
Europe: Accounting for 20-25% of the market share, Europe grows at 2.5-3.5%. Germany and the UK emphasize chemicals and water storage, with trends highlighting sustainability and EU standards.
Asia Pacific: Representing 35-40% of the market share, this region grows at 5-6%. China and India dominate due to chemical and oil storage growth, with trends focusing on cost-effective solutions and industrial expansion.
Rest of the World: With a 10-15% share, this region grows at 4-5%. Brazil and Saudi Arabia see uptake in oil and gas, driven by energy demands. Trends emphasize durable, scalable tanks.
Application Analysis
Chemicals: Expected to grow at 4-5%, dominant application (45% share). Trends focus on safe storage of hazardous substances.
Oil & Gas: Projected at 3.5-4.5%, key use (30% share). Trends emphasize capacity and safety.
Power Generation: Anticipated at 3-4%, significant use (14% share). Trends target fuel storage efficiency.
Water and Wastewater: Expected to grow at 4-5%, niche use (4% share). Trends focus on treatment storage.
Others: Projected at 2.5-3.5%, covering minor uses. Trends explore industrial versatility.
Key Market Players
McDermott: A leader in large-scale storage solutions.
CST Industries: Specializes in durable tanks.
PermianLide: Offers tanks for oil and gas.
Fox Tank Company: Provides robust storage systems.
Highland Tank & Manufacturing Company Inc: Focuses on industrial tanks.
These firms compete on capacity and durability.
Porter's Five Forces Analysis
Threat of New Entrants: Medium; high capital deters entry, but growing markets offer opportunities.
Threat of Substitutes: Medium; pressure vessels compete, but storage tanks’ scalability sustains demand.
Bargaining Power of Buyers: High; large industrial clients negotiate pricing.
Bargaining Power of Suppliers: Medium; reliance on steel gives leverage, offset by sourcing diversity.
Competitive Rivalry: High; players compete on capacity, cost, and durability.
Market Opportunities and Challenges
Opportunities:
Chemical and oil storage growth in Asia Pacific boosts demand.
Infrastructure projects drive adoption.
Innovations in tank durability enhance market appeal.
Challenges:
High installation costs limit adoption in emerging markets.
Competition from pressure vessels challenges market share.
Raw material price fluctuations affect profitability.
Storage Tanks are large containers designed to store liquids and gases, widely used in chemicals, oil and gas, power generation, water and wastewater treatment, and other applications. Constructed from materials like steel or composites, they provide safe, reliable storage solutions. The Storage Tank industry is an essential segment of the global industrial equipment market, characterized by its durability, scalability, and adaptability to various storage needs. The market is driven by demand from energy and chemical storage, industrial growth, and infrastructure projects, particularly in resource-rich regions. However, it faces challenges from high installation costs, competition from pressure vessels, and raw material price fluctuations, shaping its growth trajectory in a competitive landscape.
Market Size and Growth Forecast
The global Storage Tank market is estimated at approximately USD 15.2 to 20.5 billion in 2025, with a projected compound annual growth rate (CAGR) of 3.9% to 5.3% from 2025 to 2030, reaching USD 18.5 to 26.0 billion by 2030. This growth reflects steady demand from key industries, supported by industrial and energy trends, though moderated by cost and competition factors.
Regional Analysis
North America: Holding 25-30% of the market share, North America grows at 3-4%. The United States leads with demand in oil and gas, driven by energy storage needs. Trends focus on safety and capacity upgrades.
Europe: Accounting for 20-25% of the market share, Europe grows at 2.5-3.5%. Germany and the UK emphasize chemicals and water storage, with trends highlighting sustainability and EU standards.
Asia Pacific: Representing 35-40% of the market share, this region grows at 5-6%. China and India dominate due to chemical and oil storage growth, with trends focusing on cost-effective solutions and industrial expansion.
Rest of the World: With a 10-15% share, this region grows at 4-5%. Brazil and Saudi Arabia see uptake in oil and gas, driven by energy demands. Trends emphasize durable, scalable tanks.
Application Analysis
Chemicals: Expected to grow at 4-5%, dominant application (45% share). Trends focus on safe storage of hazardous substances.
Oil & Gas: Projected at 3.5-4.5%, key use (30% share). Trends emphasize capacity and safety.
Power Generation: Anticipated at 3-4%, significant use (14% share). Trends target fuel storage efficiency.
Water and Wastewater: Expected to grow at 4-5%, niche use (4% share). Trends focus on treatment storage.
Others: Projected at 2.5-3.5%, covering minor uses. Trends explore industrial versatility.
Key Market Players
McDermott: A leader in large-scale storage solutions.
CST Industries: Specializes in durable tanks.
PermianLide: Offers tanks for oil and gas.
Fox Tank Company: Provides robust storage systems.
Highland Tank & Manufacturing Company Inc: Focuses on industrial tanks.
These firms compete on capacity and durability.
Porter's Five Forces Analysis
Threat of New Entrants: Medium; high capital deters entry, but growing markets offer opportunities.
Threat of Substitutes: Medium; pressure vessels compete, but storage tanks’ scalability sustains demand.
Bargaining Power of Buyers: High; large industrial clients negotiate pricing.
Bargaining Power of Suppliers: Medium; reliance on steel gives leverage, offset by sourcing diversity.
Competitive Rivalry: High; players compete on capacity, cost, and durability.
Market Opportunities and Challenges
Opportunities:
Chemical and oil storage growth in Asia Pacific boosts demand.
Infrastructure projects drive adoption.
Innovations in tank durability enhance market appeal.
Challenges:
High installation costs limit adoption in emerging markets.
Competition from pressure vessels challenges market share.
Raw material price fluctuations affect profitability.
Table of Contents
116 Pages
- Chapter 1 Executive Summary
- Chapter 2 Abbreviation and Acronyms
- Chapter 3 Preface
- 3.1 Research Scope
- 3.2 Research Sources
- 3.2.1 Data Sources
- 3.2.2 Assumptions
- 3.3 Research Method
- Chapter Four Market Landscape
- 4.1 Market Overview
- 4.2 Classification/Types
- 4.3 Application/End Users
- Chapter 5 Market Trend Analysis
- 5.1 Introduction
- 5.2 Drivers
- 5.3 Restraints
- 5.4 Opportunities
- 5.5 Threats
- Chapter 6 Industry Chain Analysis
- 6.1 Upstream/Suppliers Analysis
- 6.2 Storage Tank Analysis
- 6.2.1 Technology Analysis
- 6.2.2 Cost Analysis
- 6.2.3 Market Channel Analysis
- 6.3 Downstream Buyers/End Users
- Chapter 7 Latest Market Dynamics
- 7.1 Latest News
- 7.2 Merger and Acquisition
- 7.3 Planned/Future Project
- 7.4 Policy Dynamics
- Chapter 8 Historical and Forecast Storage Tank Market in North America (2020-2030)
- 8.1 Storage Tank Market Size
- 8.2 Storage Tank Market by End Use
- 8.3 Competition by Players/Suppliers
- 8.4 Storage Tank Market Size by Type
- 8.5 Key Countries Analysis
- 8.5.1 United States
- 8.5.2 Canada
- 8.5.3 Mexico
- Chapter 9 Historical and Forecast Storage Tank Market in South America (2020-2030)
- 9.1 Storage Tank Market Size
- 9.2 Storage Tank Market by End Use
- 9.3 Competition by Players/Suppliers
- 9.4 Storage Tank Market Size by Type
- 9.5 Key Countries Analysis
- 9.5.1 Brazil
- 9.5.2 Argentina
- 9.5.3 Chile
- 9.5.4 Peru
- Chapter 10 Historical and Forecast Storage Tank Market in Asia & Pacific (2020-2030)
- 10.1 Storage Tank Market Size
- 10.2 Storage Tank Market by End Use
- 10.3 Competition by Players/Suppliers
- 10.4 Storage Tank Market Size by Type
- 10.5 Key Countries Analysis
- 10.5.1 China
- 10.5.2 India
- 10.5.3 Japan
- 10.5.4 South Korea
- 10.5.5 Southest Asia
- 10.5.6 Australia
- Chapter 11 Historical and Forecast Storage Tank Market in Europe (2020-2030)
- 11.1 Storage Tank Market Size
- 11.2 Storage Tank Market by End Use
- 11.3 Competition by Players/Suppliers
- 11.4 Storage Tank Market Size by Type
- 11.5 Key Countries Analysis
- 11.5.1 Germany
- 11.5.2 France
- 11.5.3 United Kingdom
- 11.5.4 Italy
- 11.5.5 Spain
- 11.5.6 Belgium
- 11.5.7 Netherlands
- 11.5.8 Austria
- 11.5.9 Poland
- 11.5.10 Russia
- Chapter 12 Historical and Forecast Storage Tank Market in MEA (2020-2030)
- 12.1 Storage Tank Market Size
- 12.2 Storage Tank Market by End Use
- 12.3 Competition by Players/Suppliers
- 12.4 Storage Tank Market Size by Type
- 12.5 Key Countries Analysis
- 12.5.1 Egypt
- 12.5.2 Israel
- 12.5.3 South Africa
- 12.5.4 Gulf Cooperation Council Countries
- 12.5.5 Turkey
- Chapter 13 Summary For Global Storage Tank Market (2020-2025)
- 13.1 Storage Tank Market Size
- 13.2 Storage Tank Market by End Use
- 13.3 Competition by Players/Suppliers
- 13.4 Storage Tank Market Size by Type
- Chapter 14 Global Storage Tank Market Forecast (2025-2030)
- 14.1 Storage Tank Market Size Forecast
- 14.2 Storage Tank Application Forecast
- 14.3 Competition by Players/Suppliers
- 14.4 Storage Tank Type Forecast
- Chapter 15 Analysis of Global Key Vendors
- 15.1 McDermott
- 15.1.1 Company Profile
- 15.1.2 Main Business and Storage Tank Information
- 15.1.3 SWOT Analysis of McDermott
- 15.1.4 McDermott Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.2 CST Industries
- 15.2.1 Company Profile
- 15.2.2 Main Business and Storage Tank Information
- 15.2.3 SWOT Analysis of CST Industries
- 15.2.4 CST Industries Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.3 PermianLide
- 15.3.1 Company Profile
- 15.3.2 Main Business and Storage Tank Information
- 15.3.3 SWOT Analysis of PermianLide
- 15.3.4 PermianLide Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.4 Fox Tank Company
- 15.4.1 Company Profile
- 15.4.2 Main Business and Storage Tank Information
- 15.4.3 SWOT Analysis of Fox Tank Company
- 15.4.4 Fox Tank Company Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.5 Highland Tank & Manufacturing Company Inc
- 15.5.1 Company Profile
- 15.5.2 Main Business and Storage Tank Information
- 15.5.3 SWOT Analysis of Highland Tank & Manufacturing Company Inc
- 15.5.4 Highland Tank & Manufacturing Company Inc Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.6 CIMC Enric
- 15.6.1 Company Profile
- 15.6.2 Main Business and Storage Tank Information
- 15.6.3 SWOT Analysis of CIMC Enric
- 15.6.4 CIMC Enric Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.7 Toyo Kanetsu
- 15.7.1 Company Profile
- 15.7.2 Main Business and Storage Tank Information
- 15.7.3 SWOT Analysis of Toyo Kanetsu
- 15.7.4 Toyo Kanetsu Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.8 Lanzhou LS Heavy Machinery Technology Co. Ltd.
- 15.8.1 Company Profile
- 15.8.2 Main Business and Storage Tank Information
- 15.8.3 SWOT Analysis of Lanzhou LS Heavy Machinery Technology Co. Ltd.
- 15.8.4 Lanzhou LS Heavy Machinery Technology Co. Ltd. Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.9 Zhangjiagang Furui Special Equipment
- 15.9.1 Company Profile
- 15.9.2 Main Business and Storage Tank Information
- 15.9.3 SWOT Analysis of Zhangjiagang Furui Special Equipment
- 15.9.4 Zhangjiagang Furui Special Equipment Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.10 Lanpec Technologies Limited
- 15.10.1 Company Profile
- 15.10.2 Main Business and Storage Tank Information
- 15.10.3 SWOT Analysis of Lanpec Technologies Limited
- 15.10.4 Lanpec Technologies Limited Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- 15.11 ISHII IRON WORKS (IIW)
- 15.11.1 Company Profile
- 15.11.2 Main Business and Storage Tank Information
- 15.11.3 SWOT Analysis of ISHII IRON WORKS (IIW)
- 15.11.4 ISHII IRON WORKS (IIW) Storage Tank Revenue, Gross Margin and Market Share (2020-2025)
- Please ask for sample pages for full companies list
- Tables and Figures
- Table Abbreviation and Acronyms
- Table Research Scope of Storage Tank Report
- Table Data Sources of Storage Tank Report
- Table Major Assumptions of Storage Tank Report
- Figure Market Size Estimated Method
- Figure Major Forecasting Factors
- Figure Storage Tank Picture
- Table Storage Tank Classification
- Table Storage Tank Applications
- Table Drivers of Storage Tank Market
- Table Restraints of Storage Tank Market
- Table Opportunities of Storage Tank Market
- Table Threats of Storage Tank Market
- Table Covid-19 Impact For Storage Tank Market
- Table Raw Materials Suppliers
- Table Different Production Methods of Storage Tank
- Table Cost Structure Analysis of Storage Tank
- Table Key End Users
- Table Latest News of Storage Tank Market
- Table Merger and Acquisition
- Table Planned/Future Project of Storage Tank Market
- Table Policy of Storage Tank Market
- Table 2020-2030 North America Storage Tank Market Size
- Figure 2020-2030 North America Storage Tank Market Size and CAGR
- Table 2020-2030 North America Storage Tank Market Size by Application
- Table 2020-2025 North America Storage Tank Key Players Revenue
- Table 2020-2025 North America Storage Tank Key Players Market Share
- Table 2020-2030 North America Storage Tank Market Size by Type
- Table 2020-2030 United States Storage Tank Market Size
- Table 2020-2030 Canada Storage Tank Market Size
- Table 2020-2030 Mexico Storage Tank Market Size
- Table 2020-2030 South America Storage Tank Market Size
- Figure 2020-2030 South America Storage Tank Market Size and CAGR
- Table 2020-2030 South America Storage Tank Market Size by Application
- Table 2020-2025 South America Storage Tank Key Players Revenue
- Table 2020-2025 South America Storage Tank Key Players Market Share
- Table 2020-2030 South America Storage Tank Market Size by Type
- Table 2020-2030 Brazil Storage Tank Market Size
- Table 2020-2030 Argentina Storage Tank Market Size
- Table 2020-2030 Chile Storage Tank Market Size
- Table 2020-2030 Peru Storage Tank Market Size
- Table 2020-2030 Asia & Pacific Storage Tank Market Size
- Figure 2020-2030 Asia & Pacific Storage Tank Market Size and CAGR
- Table 2020-2030 Asia & Pacific Storage Tank Market Size by Application
- Table 2020-2025 Asia & Pacific Storage Tank Key Players Revenue
- Table 2020-2025 Asia & Pacific Storage Tank Key Players Market Share
- Table 2020-2030 Asia & Pacific Storage Tank Market Size by Type
- Table 2020-2030 China Storage Tank Market Size
- Table 2020-2030 India Storage Tank Market Size
- Table 2020-2030 Japan Storage Tank Market Size
- Table 2020-2030 South Korea Storage Tank Market Size
- Table 2020-2030 Southeast Asia Storage Tank Market Size
- Table 2020-2030 Australia Storage Tank Market Size
- Table 2020-2030 Europe Storage Tank Market Size
- Figure 2020-2030 Europe Storage Tank Market Size and CAGR
- Table 2020-2030 Europe Storage Tank Market Size by Application
- Table 2020-2025 Europe Storage Tank Key Players Revenue
- Table 2020-2025 Europe Storage Tank Key Players Market Share
- Table 2020-2030 Europe Storage Tank Market Size by Type
- Table 2020-2030 Germany Storage Tank Market Size
- Table 2020-2030 France Storage Tank Market Size
- Table 2020-2030 United Kingdom Storage Tank Market Size
- Table 2020-2030 Italy Storage Tank Market Size
- Table 2020-2030 Spain Storage Tank Market Size
- Table 2020-2030 Belgium Storage Tank Market Size
- Table 2020-2030 Netherlands Storage Tank Market Size
- Table 2020-2030 Austria Storage Tank Market Size
- Table 2020-2030 Poland Storage Tank Market Size
- Table 2020-2030 Russia Storage Tank Market Size
- Table 2020-2030 MEA Storage Tank Market Size
- Figure 2020-2030 MEA Storage Tank Market Size and CAGR
- Table 2020-2030 MEA Storage Tank Market Size by Application
- Table 2020-2025 MEA Storage Tank Key Players Revenue
- Table 2020-2025 MEA Storage Tank Key Players Market Share
- Table 2020-2030 MEA Storage Tank Market Size by Type
- Table 2020-2030 Egypt Storage Tank Market Size
- Table 2020-2030 Israel Storage Tank Market Size
- Table 2020-2030 South Africa Storage Tank Market Size
- Table 2020-2030 Gulf Cooperation Council Countries Storage Tank Market Size
- Table 2020-2030 Turkey Storage Tank Market Size
- Table 2020-2025 Global Storage Tank Market Size by Region
- Table 2020-2025 Global Storage Tank Market Size Share by Region
- Table 2020-2025 Global Storage Tank Market Size by Application
- Table 2020-2025 Global Storage Tank Market Share by Application
- Table 2020-2025 Global Storage Tank Key Vendors Revenue
- Figure 2020-2025 Global Storage Tank Market Size and Growth Rate
- Table 2020-2025 Global Storage Tank Key Vendors Market Share
- Table 2020-2025 Global Storage Tank Market Size by Type
- Table 2020-2025 Global Storage Tank Market Share by Type
- Table 2025-2030 Global Storage Tank Market Size by Region
- Table 2025-2030 Global Storage Tank Market Size Share by Region
- Table 2025-2030 Global Storage Tank Market Size by Application
- Table 2025-2030 Global Storage Tank Market Share by Application
- Table 2025-2030 Global Storage Tank Key Vendors Revenue
- Figure 2025-2030 Global Storage Tank Market Size and Growth Rate
- Table 2025-2030 Global Storage Tank Key Vendors Market Share
- Table 2025-2030 Global Storage Tank Market Size by Type
- Table 2025-2030 Storage Tank Global Market Share by Type
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