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The global storage tank market is expected to grow from $13.17 billion in 2021 to $14.01 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The global storage tank market size is expected to grow to $16.82 billion in 2026 at a CAGR of 4.7%.

Increasing water scarcity in several regions is the key factor driving the storage tank market going forward.

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The storage tank market consists of sales of storage tanks by entities (organizations, sole traders, partnerships) that are tanks or containers that hold liquids, compressed gases, or mediums used for the short-or long-term storage of heat or cold. A particular tank can serve one or both purposes, depending on its location within the system and its type of configuration.

Global Storage Tank Market Segments Include:

By Type: Aboveground Storage Tanks, Underground Storage Tanks

By Material: Steel, Concrete, Polyethylene, Others

By Application: Petroleum Industry, Chemical Industry, Grain and Oil Industry, Food Industry, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global storage tank market in 2021.

Product innovation is a key trend gaining popularity within the storage tank market. Companies operating in the storage tank market are developing new products to strengthen their position in the market.

TBRC’s Storage Tank Market Report Covers:

Major Market Players: McDermott (US), CST Industries (US), PermianLide (US), Fox Tank Company (US), Highland Tank & Manufacturing Company Inc. (US), Superior Tank Co. Inc. (US), Ishii Iron Works Co. Ltd. (Japan), MEKRO Sp. z o.o. (Poland), Pfaudler (US), Toyo Kanetsu K.K., Snyder Industries Inc., Caldwell Tanks, Crom Corporation, Tank Connection, DN Tanks, Synalloy Corporation, Fiber Technology Corporation Inc., ZCL Composites Inc., Sintex Industries Limited, and Superior Tank Co. Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Storage Tank Global Market Report 2022  is one of a series of new reports from The Business Research Company that provides storage tank market overviews, analyzes and forecasts market size, share, storage tank market players, storage tank market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s storage tank market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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