The global fuel storage tank market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period. The growing demand for fuel storage across the globe to meet the growing energy demand is a key factor driving the growth of the global fuel storage tank market. For instance, in January 2023, Tanzania’s Ministry of Energy and UAE’s Emirates National Oil Company Group (ENOC) have signed a memorandum of understanding (MoU) for the construction of petroleum receiving and storage infrastructure. The new infrastructure will reduce delay times for offloading oil products, especially in transit to neighboring countries.
Browse the full report description of “Fuel Storage Tank Market Size, Share & Trends Analysis Report by Material Type (Steel Tank, Fiberglass Tank, and Other), and by Application (Residential, Commercial, and Industrial) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/fuel-storage-tank-market
Further, in October 2022, VINCI, through its subsidiary Cobra IS in a consortium with Sener contracted to build Germany's first regasification terminal. It will have a production capacity of 10 billion m3 of natural gas per year and will have two 165,000 m3 storage tanks. The terminal will also be equipped with auxiliary operating systems, infrastructure, and buildings. This terminal will provide strategic infrastructure for the customer German LNG Terminal and will be located at Brunsbüttel at the mouth of the Elbe on the North Sea. It will enable Germany to import liquefied natural gas by sea, to be unloaded there for storage and regasification before being injected into the German grid or transported by lorries or wagons.
Furthermore, in October 2021, Chemie-Tech has been awarded an Engineering, Procurement, Construction & Commissioning contract from HPCL Rajasthan Refinery Ltd (HRRL) for Cryogenic Double Wall Storage Tanks (DWST) and associated facilities - Package 7 (Part-A) at HPCL Rajasthan Refinery Ltd in Rajasthan, India. Such huge demand for large storage tanks across the globe is thus driving the market growth.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Material Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including AG Growth International, Hasse Tank GmbH, Vitol Inc., Tuffa Tank, and Shawcor Ltd., among others
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Fuel Storage Tank Market Report Segment
By Material Type
By Application
Global Fuel Storage Tank Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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