The Storage Tank Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Storage Tank Market?
The market size of the storage tank industry has consistently increased in recent years. In 2024, the market size was valued at $15.08 billion and it is anticipated to rise to $15.71 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 4.2%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Storage Tank Industry?
The global storage tank market is forecasted to reach a market size of $20.31 billion in 2029, growing at a compound annual growth rate (CAGR) of 6.6%.
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What are the Key Growth Drivers Fueling the Storage Tank Market?
The key drivers in the storage tank market are:
• Heightened demand for resilient storage solutions and hydrogen storage
• Industrial expansion and infrastructure development
• Strict environmental regulations pushing the shift towards LNG and gas storage
• Increase in chemical and petrochemical industries and water conservation solutions.
Global Market Segmentation: Identifying Major Storage Tank Industry Segments
The storage tank market covered in this report is segmented –
1) By Type: Aboveground Storage Tanks, Underground Storage Tanks
2) By Material: Steel, Concrete, Polyethylene, Other Materials
3) By Application: Petroleum Industry, Chemical Industry, Grain And Oil Industry, Food Industry, Other Applications
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What are the Emerging Trends Shaping the Future of the Storage Tank Market?
The key trends in the storage tank market are:
• The market is moving towards modular and customized storage tank solutions.
• There is an increasing trend of integrating remote monitoring and IoT in storage tanks.
• The adoption of green and sustainable practices in storage tank manufacturing is notable.
• The growth of chemical and petrochemical industries and water conservation solutions are trends to watch for.
Who Are the Top Competitors & Leading Players in the Storage Tank Market?
Major companies in the storage tank market are:
• McDermott International Inc.
• PermianLide LLC
• Sintex Industries Limited
• Pfaudler Group
• Toyo Kanetsu K.K.
• Synalloy Corporation
• Caldwell Tanks Inc.
• Snyder Industries Inc.
• CST Industries Inc.
• Highland Tank & Manufacturing Company Inc.
• ZCL Composites Inc.
• Crom Corporation
• Tank Connection Affiliate Group
• DN Tanks Inc.
• Containment Solutions Inc.
• Poly Processing Company LLC
• Tanco Engineering Inc.
• Tarsco LLC
• Modern Welding Company Inc.
• Fisher Tank Company
• Fox Tank Company
• Superior Tank Co Inc.
• Fiber Technology Corporation Inc.
• Ishii Iron Works Co Ltd
• MEKRO Sp. z o.o.
• Norwesco Industries
• Heartland Tank Companies
• Steel Tank and Fabricating Corporation
• Tankmart International LLC
• Motherwell Tank Protection Limited
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the storage tank market in 2024
