Aboveground Storage Tanks Market

Aboveground Storage Tanks Market Size

The global aboveground storage tanks market size was valued at USD 11.9 billion in 2024 and is anticipated to register a CAGR of over 5.2% between 2025 and 2034, owing to the rising demand for oil, gas, and chemicals. However, ASTs are essential for the vast array of liquid commodities as the rest of the world utilizes them for storing large-scale production. Keeping in mind the oil and gas industry, ASTs are largely used for effectively storing crude oils and other related petroleum products alongside storing a wide range of chemicals to make sure they are safely contained and are available for timely distribution.

Apart from these, there are several reasons why companies require ASTs. To exemplify, the food and beverage industry needs bulk storage of oils, syrups, and other liquids which are heavily used in both processing and manufacturing certain types of food. Furthermore, food and agricultural organizations have predicted a 70% increase in food production by the year 2050, owing to which ends and rigorous storage systems will be in higher demand. Lastly, ASTs are being used widely in storing liquids along with certain chemicals in the pharmaceutical industry in controlled environments to ensure that the integrity and safety of the product is maintained.

Above Ground Storage Tanks are an asset, but due to factors such as rough weather, corrosive chemicals, and excessive oil withstand damage that hampers their lifespan, which innately results in leaks and structural damage, this culminates in businesses having to invest money to maintain and replace these tanks, even further ratcheting up costs for the business. A plethora of inspections, maintenance, alongside ensuring these tanks are built with corrosion-resistant materials is the optimal solution to these issues but comes at a very high price.

Therefore, ongoing expenses like these pose a huge problem for small businesses with extremely tight budgets as they determine the business's financial commitment to ASTs, for nearly every organization without a flexible budget these expenses can very easily be a red flag. These expenses alongside the fact that ensuring and monitoring the tanks are of great quality pile up and make it increasingly hard for any business to solely justify the investment in AST infrastructure.

Aboveground Storage Tanks Market Trends

• The market for Aboveground Storage Tanks (ASTs) continues to benefit from the implementation of IoT sensors, automated supervision systems, and analytic tools. These state-of-the-art technologies enable regulatory personnel to monitor some critical parameters within the AST, such as temperature, pressure, and the amount of fluid within the tank, for safety and operational purposes. Such metrics can be monitored for a long time and thus enable businesses to detect possible problems, both small and large – whether there are leaks, weaknesses in the tank's structure, or other anomalies to which there could be potential problems.
  
• Early detection of such problems provides sufficient time for measures to be taken, thereby reducing exposure to risks and costly downtimes. In addition, automated systems adjust the maintenance of the tanks in an optimum manner for them not only to be tidy but also be safe for use. Therefore, with the incorporation of these technologies, the management of the storage tanks becomes more effective in terms of cost, increases assurance, and guarantees compliance with environmental laws.
  

Aboveground Storage Tanks Market Analysis

The aboveground storage tanks industry has quite the rise due to the outgrowing need for secure and efficient storage options across the oil and gas, chemicals, food and beverages, and pharmaceuticals. Tanks' growing appeal can be attributed to the increasing global demand for bulk liquid storage such as crude oils and refined petroleum products, as well as agricultural liquid and chemicals. Aspects such as industrial development, urbanization, and the implementation of growing environmental concerns are also helping carve a growing market for aboveground storage.

As well as the rise of IoT sensors, automated monitoring systems, and corrosion-resistant materials boosting the performance, safety, and effective lifetime of ASTs, driving their use, further expanding it. Nonetheless, there are a few barriers remaining such as initial investment, strict regulations, and environmental safety concerns. In spite of the restrictions, the rise of industries in emerging markets demands scalable storage surpasses the barriers for ASTs to keep growing in terms of usage.

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• The aboveground storage tanks market from fixed roof tanks segment was surpassed USD 4.7 billion in 2024 and is expected to grow at a CAGR of over 5.5% during 2025 to 2034.
  
• Compared to other types such as floating roofs and pressurized tanks, fixed roof tanks have a more basic design which is less complicated and tends to require less capital investment. Being stocky and able to hold more liquid allows more industries to be able to use them however there are additional drawbacks. Moreover, fixed roof tanks are also more time resistant and easier to use which only increases their appeal greatly.

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• Based on application, the oil & gas industry accounted for over 26.6% share of the aboveground storage tanks market in 2024 and is predicted to grow at a 5.8% rate from 2025 to 2034.
• Aboveground storage tanks play an important role in crude oil storage, storing of refined petroleum products, and liquefied natural gas, therefore these become very important to the oil and gas supply chain. The growing need for safe, reliable, and efficient storage infrastructure to support exploration, extraction, and refining activities enhances the demand for AST.

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• U.S. aboveground storage tanks market size exceeded USD 2.7 billion in 2024 and is likely to expand at a CAGR of 5.9% from 2025 to 2034. This growth is contributed by the robust industrial presence in the region particularly in oil and gas, chemical, and pharmaceutical industries. The US has a significant role in the international energy market with numerous refiners, storage, and transportation systems which need dependable and safe storage solutions.
  
• The aboveground storage tanks market in Asia-Pacific was led by China with a 34.4% share in 2024, as it is the largest producer and consumer of oil, gas, and chemicals in the world. Due to the ongoing industrialization, construction of new facilities, and advancement in the energy sector, the country is experiencing unprecedented growth in the need for storage systems. China's extensive oil refining capacities, chemical processing plants, and electricity generation stations require adequate and effective storage systems for large quantities of crude, refined, and industrial-grade chemicals.
  
• Germany's industrial innovation has increased significantly compelling them to store more crude oil, chemicals, and biofuels. This has also led to Germany becoming a land comprising several refineries and manufacturing plants. Such industrial constructions paired with innovation greatly increases demand for advanced AST solutions, making strict environmental regulations immensely important.
  
• As one of the leading industrial nations in Europe, Germany has a high concentration of refineries, chemical manufacturing plants, and power generation facilities that require large-scale storage for liquids such as crude oil, chemicals, and biofuels. The country’s strong focus on industrial innovation, adherence to stringent environmental regulations, and commitment to sustainability further drive the demand for advanced AST solutions.
  

Aboveground Storage Tanks Market Share

The aboveground storage tanks industry is led by companies such as CB&I, CST Industries, Columbian TecTank, and Snyder Industries, which collectively hold 10-15% of the market share. The manufacturers in this market are pursuing mergers, acquisitions, joint ventures, and other collaborations in response to increasing consumer demand.

Aboveground Storage Tanks Market Companies

Major players operating in the aboveground storage tanks industry include:

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

Aboveground Storage Tanks Industry News

• In January 2024, TerraVest Industries purchased all assets of Highland Tank Holdings for a total of USD 78 million dollars. With their headquarters in North America, Highland Tank is known for developing LPG vessels, chemical and fuel storage tanks, and various types of steel storage goods.
  
• In March 2023, Sintex, a manufacturer of water tanks, was acquired by Welspun Group for the sum of USD 150 million as part of their firm building material portfolio. Contrary to the rest of the world that may not have access to it, Sintex is a recognized Indian Company with a brand history for distributing water tanks and other plastic products through well-established networks.
  

The aboveground storage tanks market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2034, for the following segments:

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Market, By Type

• Fixed roof tanks
• Floating roof tanks
• Dome roof tanks
• Others (pressurized tanks, LNG tank, horizontal tanks)

Market, By Application

• Oil & gas industry
• Chemical industry
• Water and wastewater treatment
• Food & beverage industry
• Pharmaceutical industry
• Power generation
• Others (mining, biofuel, etc.)

Market, By Material

• Stainless steel
• Polyethylene
• Fiberglass
• Concrete
• Others (aluminum, wood, hybrid materials, etc.)

Market, By Capacity

• Small tanks (Up to 50,000 gallons)
• Medium tanks (50,000 – 250,000 gallons)
• Large tanks (Above 250,000 gallons)

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Indonesia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa