Metal Tank Market: Trends, Opportunities and Competitive Analysis

Metal Tank Market Trends and Forecast

The future of the metal tank market looks good with opportunities in oil and gas, industrial, and municipal applications. The global metal tank market is expected to reach an estimated $14.2 billion by 2030 with a CAGR of 2.8% from 2024 to 2030. The major drivers for this market are growing construction activities, increasing refineries, and growing industrialization.

Emerging Trends in Metal Tank Market

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of sidewall tank insulation and rising adoption of dual seaming system.

A total of 73 figures / charts and 52 tables are provided in this 225-page report to help in your business decisions. Sample figures with some insights are shown below.

Metal Tank Market by Segment

In this industry,fuel tank is the largest market by application, whereas pressure tanks is the larger pressure type.

The study includes trends and forecast for the metal tank market by application, build, size, pressure, installation, end use, and region as follows:

Metal Tank Market by Application [$B shipment analysis from 2018 to 2030]:

• Fuel
• Water & Wastewater
• Fire Protection
• Industrial
• Food & Beverage
• Paper & Pulp
• Others

Metal Tank Market by Build [$B shipment analysis from 2018 to 2030]:

• Custom Fabricated at the Factory
• Custom Fabricated and Field Erected

Metal Tank Market by Size [$B shipment analysis from 2018 to 2030]:

• Below 5,000 Gallons
• 5,000 to 25,000 Gallons
• Over 25,000 Gallons

Metal Tank Market by Pressure [$B shipment analysis from 2018 to 2030]:

• Pressure
• Non- Pressure

Metal Tank Market by Installation [$B shipment analysis from 2018 to 2030]:

• Above-ground
• Under-ground

Metal Tank Market by End Use [$B shipment analysis from 2018 to 2030]:

• Oil & Gas
• Industrial
• Municipal and Others

Metal Tank Market by Region [$B shipment analysis from 2018 to 2030]:

• North America
• Europe
• APAC
• ROW

List of Metal Tank Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, metal tank companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the metal tank companies profiled in this report include-

• CIMC
• Worthington Industries
• Matrix
• Trinity
• Mcdermott

Lucintel forecasts that aboveground metal tanks will remain the largest segment and witness the highest growth over the forecast period due to easier access for repairs and maintenance.

Within the metal tank market, oil and gas will remain the largest end use industry, and it is projected to witness the highest growth over the forecast period due to new establishment of refineries and increasing exploration and distribution activities.

APAC will remain the largest region during the forecast period mainly due growth in pharmaceutical, power generation market has been growing rapidly in Asia owing economic expansion in India and China creating excellent potential for growth.

Features of Metal Tank Market

Market Size Estimates: Metal tank market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.

Segmentation Analysis: Metal tank market size by various segments, such as application, build, size, pressure, installation, and end use.

Regional Analysis: Metal tank market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different application, build, size, pressure, installation, end use, and regions for metal tank market.

Strategic Analysis: This includes M&A and competitive landscape for the metal tank.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the metal tank market size?

Answer: The global metal tank market is expected to reach an estimated $14.2 billion by 2030.

Q2. What is the growth forecast for metal tank market?

Answer: The metal tank market is expected to grow at a CAGR of 2.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the metal tank market?

Answer: The major drivers for this market are growing construction activities, increasing refineries, and growing industrialization.

Q4. What are the major end uses for the metal tank market?

Answer:. Oil & gas, industrial, and municipal & others.

Q5. What are the emerging trends in the metal tank market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of sidewall tank insulation and rising adoption of dual seaming system.

Q6. Who are the key metal tank companies?

Answer: Some of the key metal tank companies are as follows:

• CIMC
• Worthington Industries
• Matrix
• Trinity
• Mcdermott

Q7.Which segment will witness the highest growth in the metal tank market in the future?

Answer: Lucintel forecasts that aboveground metal tanks will remain the largest segment and witness the highest growth over the forecast period due to easier access for repairs and maintenance.

Q8. In metal tank market, which region is expected to be the largest in the next five years?

Answer: APAC will remain the largest region during the forecast period mainly due growth in pharmaceutical, power generation market has been growing rapidly in Asia owing economic expansion in India and China creating excellent potential for growth.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising potential, high-growth opportunities for the metal tank market by application (fuel, water & wastewater, fire protection, industrial, food & beverage, paper & pulp, and others), build (custom fabricated at the factory and custom fabricated and field erected), size (below 5,000 gallons, 5,000 to 25,000 gallons, and over 25,000 gallons), pressure (pressure and non- pressure), installation (above-ground and under-ground), end use (oil & gas, industrial, and municipal & others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2 Which segments will grow at a faster pace and why?
• Q.3 Which regions will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the metal tank market?
• Q.5 What are the business risks and threats to the metal tank market?
• Q.6 What are the emerging trends in this metal tank market and the reasons behind them?
• Q.7 What are some changing demands of customers in the metal tank market?
• Q.8 What are the new developments in the metal tank market? Which companies are leading these developments?
• Q.9 Who are the major players in the metal tank market? What strategic initiatives are being implemented by key players for business growth?
• Q.10 What are some of the competitive products and processes in the metal tank market, and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.11 What M&A activities did take place in the last five years in the metal tank market?