Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 23.96 Billion | USD 37.11 Billion | 4.98% | 2023 |
FrequentlyAsked Questions
Storage tanks are containers across size groups used for safely holding liquid or compressed gasses.
The global storage tank market is expected to grow due to the rising applications of the containers in the oil & gas industry.
According to study, the global storage tank market size was worth around USD 23.96 billion in 2023 and is predicted to grow to around USD 37.11 billion by 2032.
The CAGR value of the storage tank market is expected to be around 4.98% during 2024-2032.
The global storage tank market will be led by Asia-Pacific during the forecast period.
The global storage tank market is led by players like Vitol Tank Terminals International (VTTI), Shubham Tanks & Liners, Shawcor Ltd., Sunrise Process Equipment, China National Petroleum Corporation, Koninklijke Vopak NV, Fluor Corporation, McDermott International, Inc., Simplex Plast, Oiltanking GmbH, T.F. Warren Group, Buckeye Partners L.P., Joemillars Aquatek and Aquatech Tanks.
The report explores crucial aspects of the storage tank market, including a detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.
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