North America Aboveground Storage Tank Market Size & Share 2026-2035

North America Aboveground Storage Tank Market Size

The North America aboveground storage tank market was estimated at USD 2.6 billion in 2025. The market is expected to grow from USD 2.7 billion in 2026 to USD 4.2 billion in 2035, at a CAGR of 5%, according to latest report published by Global Market Insights Inc.

• The booming oil & gas industry in North America is driving the growth of the market by having strong oil & gas infrastructure available. According to the U.S. Energy Information Administration (EIA) Petroleum & Other Liquids report, the United States had a crude oil distillation capacity of 18.4 million barrels per day in 2024. The North American oil refining capacity is large and the network of transporting the oil from the refineries to the customers is very mature with lots of petroleum distribution systems in place. For this infrastructure to function, there has to be a significant amount of above-the-ground tanks that will safely and efficiently hold crude oil, refined products, and intermediate chemicals. Operators will only invest in durable, corrosion-resistant aboveground tanks that can perform as expected, considering the industry’s stringent safety regulations. Continued operating refineries and maintaining a strategic reserve of petroleum also continue to provide constant demand for aboveground storage tanks. Collectively, the strong oil & gas infrastructure in North America continues to support market growth.
• Furthermore, the growth of aboveground storage tanks will continue growing due to the expansion of water and wastewater treatment infrastructure within North America. According to the U.S. Bureau of Economic Analysis (BEA) Fixed Investment in Structures 2025 preliminary data, private and public investment in water supply and sewage treatment construction structures reached approximately USD 48–52 billion annually in 2024–2025 estimates. Due to increased population and urbanization, many municipalities are investing capital into newer and upgraded water supply systems. Aboveground anks are used extensively for storing potable water, during treatment processes and as part of managing wastewater. In addition, industrial facilities use aboveground storage tanks predominantly for effluent storage and recycling purposes. Federal and State agencies are also investing capital in new infrastructures such as treatment plants with a focus on water security and environmental compliance. With additional treatment plants being constructed, the demand for aboveground storage tanks that are used in these facilities is increasing. Thus, the growth of water and wastewater treatment infrastructure will continue to support the growth of the aboveground storage tank market.
• The aboveground storage tanks market is largely dominated by the fixed roof tank segment, as these tanks are widely used for the safe storage of low-volatility liquids. A key characteristic of fixed roof tanks is their permanently attached roof, which helps minimize evaporation losses and reduces the risk of external contamination. These tanks are also relatively simple to construct, cost-effective to install, and suitable for a broad range of industrial applications. They are commonly deployed in facilities handling crude oil, natural gas, and water storage, where moderate vapor control is required. In addition, fixed roof tanks offer low maintenance needs and strong structural stability, enabling long service life and reliable performance with minimal operational costs.

North America Aboveground Storage Tank Market Trends

• North America continues to witness strong demand for aboveground storage tanks due to its well-established oil and gas industry. Extensive refining, transportation, and storage networks require large-capacity tanks for crude oil and refined products. The United States plays a central role with continuous investments in midstream and downstream infrastructure. Reliable storage solutions are essential for maintaining supply chain efficiency. This trend is supporting sustained demand for aboveground storage tanks across energy applications.
• A significant portion of storage tanks in North America were installed decades ago and are approaching end-of-life. Operators are replacing older tanks with modern designs that offer improved safety and efficiency. Upgraded tanks provide better structural integrity, leak prevention, and compliance with current regulations. Replacement cycles are becoming a key contributor to market growth. Companies are prioritizing long-term reliability and reduced maintenance costs. This trend is driving steady investment in new aboveground storage tank installations.
• Strict environmental and safety regulations are shaping the adoption of advanced storage tank systems in North America. Operators are required to implement leak detection, secondary containment, and emission control measures. Regulatory bodies are enforcing standards that ensure safe handling of hazardous and non-hazardous liquids. Compliance is influencing both new installations and retrofitting of existing tanks. Companies are investing in certified and high-quality storage solutions. This trend is accelerating demand for technologically advanced and compliant aboveground storage tanks.
• Digitalization is becoming an important aspect of storage tank operations across North America. Sensors and IoT-based systems enable real-time monitoring of liquid levels, pressure, and tank conditions. These technologies help detect leaks early and support predictive maintenance strategies. Operators benefit from improved operational efficiency and reduced downtime. Integration with centralized monitoring platforms enhances inventory management. This trend is encouraging adoption of intelligent and connected aboveground storage tank systems.
• Beyond oil and gas, aboveground storage tanks are increasingly used in water treatment and municipal infrastructure projects. Growing investments in water conservation, wastewater management, and urban infrastructure are supporting demand. Municipalities require reliable storage systems for potable water and industrial liquids. These tanks offer easy installation, inspection, and maintenance compared to underground alternatives. Expanding public infrastructure projects are creating additional growth opportunities. This trend is broadening the application scope of aboveground storage tanks in North America.

North America Aboveground Storage Tank Market Analysis

• The fixed roof tanks segment dominates the North America market due to its cost efficiency, structural simplicity, and suitability for storing low-volatility liquids such as water, crude oil, and certain chemicals. These tanks are designed with a permanently attached roof that helps minimize evaporation losses and reduces the risk of contamination from external environmental factors.
• Their simple construction enables easier installation and lower maintenance requirements compared to more complex tank designs. Fixed roof tanks are widely utilized across oil & gas, chemical, and water storage facilities where vapor control needs are moderate. The combination of affordability, durability, and broad industrial applicability strengthens the leading position of this segment in the market.

Based on material, the North America aboveground storage tank market consists of steel, fiberglass (FRP), polyethylene, concrete, and others. The steel segment emerged as leader and held 64.5% of the total market share in 2025 and is anticipated to grow at a CAGR of 4.5% from 2026 to 2035.

• The steel segment holds the largest share in the North America market due to its high strength, durability, and ability to withstand extreme pressure and harsh environmental conditions. Steel tanks are widely preferred for storing petroleum products, chemicals, and industrial liquids because of their superior structural integrity and long operational lifespan.
• They can be manufactured in large capacities and customized according to specific industrial requirements. In addition, steel offers strong resistance to mechanical stress, and when combined with protective coatings, it provides enhanced corrosion resistance and safety. These advantages contribute to the reliability, scalability, and strong performance of steel tanks, reinforcing their dominance in the market.

Based on distribution channel, North America aboveground storage tank market consists of direct sales and indirect sales. The indirect sales segment leads the total market share in 2025 and is anticipated to grow significantly from 2026 to 2035.

• The indirect sales segment leads the North America market as manufacturers increasingly depend on distributors, contractors, and engineering firms to expand their market presence. Indirect channels help companies reach diverse regional markets while also providing localized services such as installation, customization, and maintenance support.
• Due to the large scale and technical complexity of storage tank projects, end users often prefer working with intermediaries that offer specialized expertise and project management capabilities. These channels also simplify procurement processes for large industrial clients. The combination of wider market access, technical assistance, and efficient project execution supports the dominance of indirect sales in the market.

U.S. Aboveground Storage Tank Market

• The U.S. aboveground storage tanks market is driven by extensive oil & gas operations, refining capacity, and strategic petroleum storage requirements. Large-scale installations are concentrated in upstream and midstream infrastructure, where tanks are used for crude oil, refined fuels, and chemical storage. Stringent environmental and safety regulations influence tank design, encouraging the use of double-walled structures, corrosion-resistant coatings, and advanced leak detection systems.
• Demand is also supported by shale oil production and expansion of petrochemical facilities along key industrial corridors. Project-based procurement through EPC contractors dominates distribution, with strong emphasis on compliance with API and federal safety standards. In addition to new installations, replacement and retrofit demand from aging infrastructure contributes significantly to market activity, ensuring continuous investment in high-performance and long-lasting storage solutions.

Canada Aboveground Storage Tank Market

In the North America aboveground storage tank industry, Canada held 19.9% market share in 2025 and is anticipated to grow at a CAGR of 4.8% from 2026 to 2035.

• The Canada aboveground storage tanks market is shaped by demand from oil sands operations, fuel storage, and water management applications. Large-capacity tanks are widely used in Alberta’s oil sands sector, where storage of crude oil and by-products requires durable and temperature-resistant structures. Cold climate conditions influence tank design, with emphasis on insulation, material strength, and resistance to thermal stress.
• In addition to energy applications, tanks are increasingly used for municipal water storage and industrial liquids handling. Environmental regulations and sustainability goals encourage adoption of advanced containment systems to prevent leakage and soil contamination. Distribution is largely project-driven, involving industrial contractors and energy companies. Growing focus on infrastructure modernization and environmental protection continues to support steady demand for aboveground storage tanks across Canada.

North America Aboveground Storage Tank Market Share

• In 2025, the prominent manufacturers in North America aboveground storage tank industry are CB&I, Matrix Service, HMT Tank LLC, CST Industries, and Snyder Industries collectively held the market share of ~35.4%.
• CB&I holds a leading position through its strong engineering, procurement, and construction capabilities for large-scale storage tank projects. The company focuses on turnkey solutions that integrate design, fabrication, and installation. Its strategy includes leveraging advanced welding technologies and strict compliance standards for oil, gas, and chemical storage. CB&I also benefits from long-term relationships with energy companies, enabling it to secure complex infrastructure projects globally.
• CST Industries differentiates itself through factory-coated bolted and welded steel tanks with strong corrosion resistance. The company focuses on modular tank designs that enable faster installation and reduced maintenance requirements. Its strategy emphasizes expansion in water, wastewater, and industrial storage applications. CST also invests in proprietary coating technologies and global manufacturing capabilities, supporting long-term infrastructure projects and strengthening its presence across municipal and industrial sectors.

North America Aboveground Storage Tank Market Companies

Major players operating in the North America aboveground storage tank industry include:

• Belding Tank Technologies
• Caldwell Tanks
• CB&I (Chicago Bridge & Iron)
• CST Industries
• Highland Tank
• HMT Tank (HMT LLC)
• L.F. Manufacturing
• Matrix Service Company
• Modern Welding Company
• Pittsburg Tank & Tower Group
• Snyder Industries
• Superior Tank Co., Inc.
• Tank Connection
• Worthington Enterprises
• ZCL Composites Inc.

Matrix Service Company specializes in engineering and construction services for aboveground storage tanks, particularly in energy and industrial markets. The company focuses on turnkey project execution, including maintenance and repair services. Its strategy includes expanding service offerings across tank lifecycle management. Matrix also emphasizes safety standards and project efficiency, helping clients reduce operational risks and downtime in large-scale storage infrastructure projects.

HMT Tank LLC builds its position through inspection, repair, and maintenance services for aboveground storage tanks. The company differentiates itself by offering lifecycle solutions rather than only new tank construction. Its strategy focuses on asset integrity management, including inspection technologies and compliance services. HMT also invests in digital monitoring and predictive maintenance solutions, helping industrial clients extend tank lifespan and improve operational reliability.

Snyder Industries differentiates itself through cost-effective and durable storage tank solutions, particularly for water, chemical, and industrial applications. The company focuses on polyethylene and corrosion-resistant tank systems suited for diverse environmental conditions. Its strategy emphasizes manufacturing efficiency and expansion of standardized product offerings. Snyder also serves agriculture, industrial, and municipal sectors, strengthening its position in mid-sized storage applications across North America.

North America Aboveground Storage Tank Industry News

• In March 2026, McDermott’s CB&I division was recognized for multiple tank engineering and construction projects including large-scale API 650 aboveground storage tanks for energy and infrastructure applications in North America. The awarded projects included thermal energy storage and industrial storage tank systems delivered under EPC execution frameworks.
• In 2025, CST Industries expanded its engineered storage tank solutions for municipal and industrial applications, including glass-fused-to-steel and epoxy-coated aboveground tanks. The company focused on standardized bolted tank systems used for water, wastewater, and industrial liquid storage.

The North America aboveground storage tank market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2022 to 2035, for the following segments:

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Market, By Tank Type

• Fixed roof tanks
• Floating roof tanks
• Dome roof tanks
• Others 

Market, By Material

• Steel
• Fiberglass (FRP)
• Polyethylene
• Concrete
• Others

Market, By Capacity

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

Market, By Application

• Oil & gas industry
• Chemical industry
• Water and wastewater treatment
• Food & beverage industry
• Pharmaceutical industry
• Power generation
• Others

Market, By Distribution Channel

• Direct Sales
• Indirect Sales

The above information is provided for the following countries:

• U.S.
• Canada