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Storage Tank Market Share

Report ID: GMI8001
Published Date: Feb 2024
Report Format: PDF

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Storage Tank Market Share

Global company market share analysis (%) (2023)

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Major players operating in the storage tank industry include:

BELLELI ENERGY CPE Srl
Belding Tank Technologies, Inc.
CB&I (Chicago Bridge & Iron)
Columbian TecTank (CTT)
CST Industries
Matrix Service Company
Motherwell Bridge Industries
Pfaudler
PermianLide
Snyder Industries
Superior Tank Co., Inc.
Tank Connection
Tarsco (TF Warren Group)
Worthington Industries
ZCL Composites Inc.

In 2023, dominant market players, including Chicago Bridge & Iron (CB&I), Columbian TecTank (CTT), CST Industries, Snyder Industries, and Worthington Industries collectively held around 10 -15% market share. The storage tank market is a highly fragmented market. These prominent players are proactively involved in strategic endeavors such as mergers & acquisitions, facility expansions, and collaborations to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position. These enterprises consistently allocate resources to research and development, aiming to enhance their designs and integrate cutting-edge technologies, thereby ensuring that they maintain a competitive edge.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of storage tank was reached USD 26 billion in 2023 and is anticipated to register over 5.1% CAGR between 2024 and 2032, owing to the technological advancements with the introduction of innovative materials and construction techniques, enhancing durability and safety standards.

The aboveground storage tanks segment held approximately 44% of the market share in 2023 and will increase by 2032 as these tanks are favored for their ease of installation, cost-effectiveness, and lower environmental risks compared to their underground counterparts.

North America captured around 31% share of the storage tank market in 2023 and will grow significantly through 2032, owing to the thriving oil & gas sector in the region, supported by extensive exploration and production activities.

BELLELI ENERGY CPE Srl, Belding Tank Technologies, Inc., CB&I (Chicago Bridge & Iron), Columbian TecTank (CTT), CST Industries, Matrix Service Company, Motherwell Bridge Industries, Pfaudler, PermianLide, Snyder Industries, Superior Tank Co., Inc., Tank Connection, Tarsco (TF Warren Group), Worthington Industries, and ZCL Composites Inc.