Storage Tank Equipment Market Size & Share 2026-2035

Storage Tank Equipment Market Size

The global storage tank equipment market was estimated at USD 5.8 billion in 2025. The market is expected to grow from USD 6.1 billion in 2026 to USD 10.2 billion in 2035, at a CAGR of 5.9%, according to latest report published by Global Market Insights Inc.

The global expansion of oil and gas infrastructure has significantly increased the demand for storage tank equipment. Given that the capacity for petroleum refining is a major factor in deciding how many storage tanks will be needed in the future, a lot of facilities will require their tanks not only for crude oil but also refined products and petrochemicals, which are the final products that come from processing crude oil. The overall industrial growth will contribute to the increasing demand, both above ground and underground storage tanks will be needed. To comply with new and stricter environmental laws, industries have been, in fact, buying more safety and protection equipment. Because upgrades take place quite frequently in storage infrastructures, it is only natural that equipment related to storage tanks will be replaced quite often.

Purchasers of advanced storage systems will also require facilities to have them equipped with better-performing monitoring and measurement tools. Chemical process companies and fuel distributors are also expected to be the ones who will raise their demand for tank equipment. As facilities in emerging markets will be able to obtain storage solutions that they can depend on in larger quantities, the demand for storage tank equipment will thus increase as well. Suppliers will keep expanding their inventories of storage tank equipment so that they can have a variety of equipment for all the different types and specifications of tanks that they sell. Due to the extensive investment cycles in energy infrastructure, demand for storage tank equipment is expected to remain fairly stable.

The fast evolution of technology in industrial storage systems has resulted in the emergence of a larger growth in the storage tank equipment industry. There have been constant innovations in storage tanks, which would necessitate the purchase of appropriate equipment. Enhanced technological capability has created an increased need for monitoring devices and sensors. Improved regulation of safety measures in tanks leads to greater requirements for relief valves, flame arresters, and leak detectors. Better tank inventory management through IoT-enabled devices results in greater purchases of monitoring devices as well. Specialized storage tanks used for hazardous substances increase the requirement of special safety equipment as well.

Since there have been tougher regulations regarding the environment in most facilities today, there is great incentive available to encourage people to buy vapor recovery and emission control systems. Innovations in the technology of corrosion protection also create demand for better coating systems and cathodic protection apparatus. Most facility managers would continue to look for equipment that would be capable of improving their tanks and operations in general. Considering all these facility upgrades, many equipment lifecycles have become much shorter than before.

Rising number of industrial storage facilities, storage tank equipment markets have safety and protection equipment as one of their largest segments. Storage tanks have gained such importance to operations that facility operators will be willing to pay for tank protection solutions against overpressure and fire hazards. Safety equipment is made of durable materials such as stainless steel, carbon steel, and special alloys, which can endure the toughest conditions.

Strong and dependable designs however do not compromise tanks' operational efficiency or safety when they are using protective equipment. Getting certified by the various international standards and local regulations. Since facilities are regularly upgrading their storage infrastructure, they will keep purchasing their safety equipment needs across all industrial sectors. The worldwide supply of safety and protection equipment through direct suppliers and distributors is one of the reasons why the demand for these products remains stable.

Storage Tank Equipment Market Trends

• Advanced monitoring and measuring instruments are another important consideration for facility managers seeking to develop real-time inventory management capabilities. As users of storage tanks prefer accurate tank level readings and leak detections, the arrival of radar gauges and ultrasonic gauges has further fueled the demand for the acquisition of equipment that can be integrated into modern control systems. The rise in the sales of advanced monitoring equipment including precision level transmitters, automatic tank gauge systems, and wireless sensor networks that can be used with SCADA systems is expected to continue.
• IoT-based equipment and intelligent storage tanks have emerged as the preferred choice of equipment. IoT-based products are preferred by facility managers due to their convenience in offering remote monitoring capability without requiring on-site inspections. Some facility managers do not have to suffer through planned visits since cloud-connected sensors, predictive maintenance system, and alert systems eliminate the need to visit sites manually. The convenience of aggregating data across different tanks in the case of large tank farms has boosted global interest in smart equipment.
• Facilities are expected to buy safety equipment such as overpressure and fire prevention devices to ensure safety. Storage tank safety equipment comprises pressure relief valves, flame arresters, emergency vents, and explosion-proof connections to guard against tank failure arising from overpressure, fires, and vapor ignition. Numerous varieties exist in the market among different brands for operators to be able to purchase safety devices in order to meet safety code requirements and maintain continuous operations.
• With the increasingly strict environmental requirements, emission control and vapor recovery equipment is also expected to become more popular. Apart from helping to eliminate fugitive emissions that arise in the operation of tanks, vapor recovery systems are designed to capture volatile organic compounds and ensure environmental preservation; thus, many operators will find it beneficial to invest in vapor recovery devices, floating roof seals, and secondary containment systems while operating their facilities. Additionally, sustainability and the efforts towards carbon reduction are likely to boost the growth of the industry.
•  Tank storage equipment is increasingly being sourced by plant managers through specialized distributors and online sites. As part of the decision-making process regarding tank storage equipment, the management opts for suppliers who provide various choices that they can compare based on different criteria such as the technical specification of the equipment, certification standards, and cost implications. Specialized distribution has thrived owing to technical expertise provided by the manufacturer, as well as design consultancy for customized needs. The development of regional distribution channels will result in exponential growth of sales.

Storage Tank Equipment Market Analysis

Based on tank type, the storage tank equipment market is categorized into aboveground storage tanks and underground storage tanks. The aboveground storage tanks segment accounted for revenue of around USD 4.2 billion in 2025 and is anticipated to grow at a CAGR of 6.1% from 2026 to 2035.

• Aboveground storage tanks dominate the market by tank type due to widespread industrial application needs. Large-scale petroleum refining and chemical processing facilities require aboveground tanks for bulk storage.
•  Easier inspection and maintenance access enhance operational efficiency and reduce long-term costs. Wide compatibility with various monitoring and safety equipment supports high equipment sales volumes.
• Regulatory compliance for visible containment systems attracts operators seeking transparent safety management. Frequent capacity expansions and facility upgrades generate repeat equipment purchases within industrial project cycles.
• Strong supplier and distributor networks ensure consistent product availability, reinforcing segment leadership globally.

Based on type, the storage tank equipment market consists of safety and protection equipment, access and structural components, monitoring and measurement tools, fluid handling and transfer equipment, and others. The safety and protection equipment segment emerged as leader and held 28.37% of the total market share in 2025 and is anticipated to grow at a CAGR of 6.1% from 2026 to 2035.

• Safety and protection equipment leads the storage tank equipment industry due to critical operational safety requirements globally. Regulatory mandates require pressure relief valves, flame arrestors, and emergency venting systems. Daily tank operations increase demand for protective devices that prevent overpressure and fire hazards. Industry standards drive purchases of certified safety equipment, grounding systems, and explosion-proof fittings. Frequent safety audits and compliance inspections generate repeat buying across different equipment categories.
• Growing awareness of workplace safety supports spending on premium and certified products. Direct relationships with engineering contractors enable easy specification and convenient procurement for facility operators. Strong influence of safety regulations further accelerates operator-driven demand in the market.
• Industrial distributors offer hands-on evaluation of materials, certifications, and specifications before purchase.
• Project-based procurement increases during large tank farm construction at industrial sites. Established distributor networks ensure wide accessibility across industrial regions. Consistent relationship management and technical training strengthen offline channel dominance.

North America Storage Tank Equipment Market

In the North America, the U.S. storage tank equipment market held 76.3% market share in 2025 and is anticipated to grow at a CAGR of 7% from 2026 to 2035.

• The North America storage tank equipment industry is supported by extensive petroleum refining and chemical processing infrastructure. Strong demand for safety compliance devices increases sales of certified pressure relief valves and flame arrestors. Operators prioritize advanced monitoring systems and automated gauging equipment for operational efficiency. Growth of LNG export terminals boosts demand for specialized cryogenic tank equipment.
• Industrial distributors and direct manufacturer relationships ensure wide product availability. Preference for API-certified and ASME-compliant products shapes purchasing decisions.
• High capital investment supports adoption of advanced smart monitoring accessories. Continuous regulatory updates sustain competitive market dynamics.

Asia Pacific Storage Tank Equipment Market

China dominates the overall Asia Pacific market and valued at USD 400 million in 2025 and is estimated to grow at a CAGR of 5.6% from 2026 to 2035.

• The China storage tank equipment industry benefits from large-scale petrochemical expansion and strategic petroleum reserves. Strong domestic manufacturing drives innovation in monitoring systems and safety equipment technologies. High industrial growth supports demand for advanced tank farm equipment. Government infrastructure programs accelerate product adoption and nationwide reach.
• Operators show strong interest in automated monitoring and leak detection devices. Rapid refinery capacity expansion increases sales of compatible storage tank equipment.
• Competitive pricing strategies intensify market competition among local vendors. Continuous product innovation sustains strong replacement demand across coastal industrial regions.

Europe Storage Tank Equipment Market

In the Europe market, Germany is expected to experience significant market share of 28.9% in 2025 and promising growth from 2026 to 2035.

• The Europe storage tank equipment industry benefits from strong regulatory focus on emission control and safety standardization. ATEX certification requirements influence demand for explosion-proof equipment and safety accessories.
• Operators prefer durable and corrosion-resistant equipment materials. Growing chemical processing and pharmaceutical sectors support demand for specialized tank fittings and monitoring devices.
• Established industrial suppliers maintain steady distribution networks. Brand reputation and certification compliance play significant roles in purchasing behavior.
• Demand for high-quality vapor recovery and emission control equipment remains consistent across industrial markets. Sustainability initiatives encourage development of eco-friendly coating systems and leak prevention technologies.

Middle East and Africa Storage Tank Equipment Market

In the Middle East and Africa market, Saudi Arabia held a significant market share of 35.7%  in 2025 with promising growth from 2026 to 2035.

• The Middle East and Africa storage tank equipment industry is growing due to expanding petroleum storage and export infrastructure. Rising petrochemical investments increase demand for specialized safety valves and monitoring devices. Import-driven supply supports availability of certified equipment options. Growth of oil terminals improves access to advanced equipment in coastal regions.
• High crude oil production drives demand for large-capacity tank farm equipment and transfer systems. Strategic petroleum reserve projects influence purchasing decisions across the region. Premium equipment adoption rises in Gulf Cooperation Council countries. Expanding energy infrastructure supports steady market growth.
• The Middle East and Africa market is growing due to expanding smartphone user base. Rising youth population increases demand for fashionable phone cases and audio devices. Import-driven supply supports availability of affordable accessory options. Growth of organized retail improves access in urban centers.

Storage Tank Equipment Market Share

In 2025, the prominent manufacturers in the market are OPW Engineered Systems, Emco Wheaton, PROTEGO, Franklin Electric (Fueling Systems), and Fort Vale Engineering, collectively holding a market share of ~48%.

• OPW Engineered Systems leads the global storage tank equipment industry through its comprehensive product portfolio and industry expertise. The company offers pressure relief valves, flame arrestors, tank gauges, loading arms, and vapor recovery systems designed for petroleum and chemical storage applications. OPW emphasizes safety compliance, engineering excellence, and proven reliability. Strong global distribution, technical support capabilities, and high-performance equipment significantly contribute to its leadership position in the industrial storage segment worldwide.
• Emco Wheaton holds a major share in the market, supported by its specialized loading and transfer systems. The company provides swivel joints, loading arms, breakaway couplings, and vapor recovery equipment tailored to tank truck and railcar loading operations. Emco Wheaton focuses on operational safety, leak prevention, and compatibility with various petroleum products. Its extensive global service network strengthens its competitive position.

Storage Tank Equipment Market Companies

Major players operating in the storage tank equipment industry include:

• Cashco 
• Dantec
• Discus Engineered Products
• Emco Wheaton
• ERGIL (Storagetech)
• Fort Vale Engineering
• Franklin Electric (Fueling Systems)
• HEROSE GmbH
• Motherwell Tank Protection
• OPW Engineered Systems
• Petro-Meter
• PROTEGO
• Ramén Valves
• Sam Carbis Solutions Group
• TCEM

PROTEGO is a leading provider of tank safety equipment known for pressure relief valves, flame arrestors, and emergency venting systems. The company emphasizes compliance with international safety standards, robust engineering, and application-specific solutions. PROTEGO benefits from strong relationships with engineering contractors and end-user industries. Its diversified product range for petroleum, chemical, and pharmaceutical storage supports continued global growth.

Storage Tank Equipment Industry News

• In March 2026, OPW Engineered Systems announced the SmartVent Pro Series at the International Petroleum Technology Conference, a next-generation pressure/vacuum relief valve with integrated IoT sensors that monitor real-time pressure conditions and send alerts to facility operators. The valve uses advanced materials for corrosion resistance and offers compatibility with cloud-based tank farm management systems.
• In December 2025, Emco Wheaton unveiled a new lineup of vapor recovery loading arms for LNG and hydrogen applications, including cryogenic swivel joints, emergency release couplings, and automated connection systems. This collection is designed to support the growing renewable energy storage sector with enhanced safety performance and operational efficiency.
• In February 2025, PROTEGO showcased several advanced flame arrestor designs at the European Refining Technology Conference, including a compact in-line detonation arrestor with improved flow characteristics and a modular end-of-line flame arrestor system. These products underscore PROTEGO's efforts to lead in tank safety and emission control technologies.
• In 2025, Fort Vale Engineering expanded its bottom loading equipment range with upgraded API adapters featuring enhanced sealing technology, improved vapor recovery integration, and advanced overfill prevention systems, broadening its presence in petroleum terminal equipment markets.

The storage tank equipment 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 Type

• Safety and protection equipment
• Access and structural components
• Monitoring and measurement tools
• Fluid handling and transfer equipment
• Others

Market, By Tank Type

• Aboveground Storage Tanks
• Underground Storage Tanks

Market, By Material

• Carbon steel
• Stainless steel
• Aluminum
• Fiberglass reinforced plastic (FRP)

Market, By Capacity

• Small (Less than 1,000 m³)
• Medium (1,000-10,000 m³)
• Large (Over 10,000 m³)

Market, By Application

• Oil & gas
• Chemical
• Water & wastewater
• Petrochemical
• Agriculture
• Power generation
• Others

Market, By Distribution channel

• Direct sales
• Indirect sales

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

• Latin America
  • Brazil
  • Mexico
  • Argentina

• MEA
  • Saudi Arabia
  • UAE
  • South Africa