Middle East & Africa Storage Tanks Market Size & Outlook
The storage tanks market in Middle East & Africa is expected to reach a projected revenue of US$ 3,969.8 million by 2030. A compound annual growth rate of 6.4% is expected of Middle East & Africa storage tanks market from 2024 to 2030.
Revenue, 2023 (US$M)
$2,567.0
Forecast, 2030 (US$M)
$3,969.8
CAGR, 2024 - 2030
6.4%
Report Coverage
Middle East & Africa
MEA storage tanks market highlights
- The MEA storage tanks market generated a revenue of USD 2,567.0 million in 2023.
- The market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, aboveground storage tanks was the largest revenue generating type in 2023.
- Aboveground Storage Tanks is the most lucrative type segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 2,567.0 million |
| Market revenue in 2030 | USD 3,969.8 million |
| Growth rate | 6.4% (CAGR from 2023 to 2030) |
| Largest segment | Aboveground storage tanks |
| Fastest growing segment | Aboveground Storage Tanks |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Aboveground Storage Tanks |
| Key market players worldwide | Toyo Kanetsu KK, Ishii Iron Works, GMM Pfaudler, CST Industries, McDermott International Ltd Ordinary Shares, PermianLide, Highland Tank, Fox Tank Company, T.F. Warren Group, Superior Tank Co., Inc. |
Other key industry trends
- In terms of revenue, MEA region accounted for 10.5% of the global storage tanks market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 9,747.9 million by 2030.
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Storage Tanks Market Scope
Storage tanks market segmentation & scope
Product
Non-Hazardous
Hazardous
Material
Polyethylene
Others
Steel
Concrete
End Use
Oil & Gas
Chemicals
Water
Others
Food and Beverage
Countries
U.S.
Canada
Mexico
UK
Germany
France
Italy
Norway
Russia
China
India
Japan
Australia
Brazil
Argentina
Saudi Arabia
South Africa
UAE
Storage Tanks Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| T.F. Warren Group | View profile | 501-1000 | Brantford, Ontario, Canada, North America | https://tfwarren.com/ |
| Fox Tank Company | View profile | 51-100 | Kerrville, Texas, United States, North America | https://www.foxtankcompany.com/ |
| Highland Tank | View profile | 51-100 | Stoystown, Pennsylvania, United States, North America | https://www.highlandtank.com/ |
| PermianLide | View profile | 501-1000 | Belle Fourche, South Dakota, United States, North America | https://permianlide.com/ |
| CST Industries | View profile | 501-1000 | Kansas City, Missouri, United States, North America | https://www.cstindustries.com |
| Ishii Iron Works | View profile | 101-250 | Tsukishima, Tokyo, Japan, Asia | https://www.ishii-iiw.co.jp/ |
| Toyo Kanetsu KK | View profile | 501-1000 | Koto, Tokyo, Japan, Asia | https://www.toyokanetsu.co.jp/ |
| Superior Tank Co., Inc. | View profile | 51-100 | Rancho Cucamonga, California, United States, North America | https://www.superiortank.com |
| McDermott International Ltd Ordinary Shares | View profile | - | 915 N. Eldridge Parkway, Houston, TX, United States, 77079 | https://www.mcdermott.com |
| GMM Pfaudler | View profile | 501-1000 | Mumbai, Maharashtra, India, Asia | http://www.gmmpfaudler.com |
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