Bulk Gas Storage Tanks Market size was valued at USD 4.5 Billion in 2024 and is projected to reach USD 7.2 Billion by 2033, exhibiting a CAGR of 6.5% from 2026 to 2033.
The global Bulk Gas Storage Tanks Market was valued at USD 5.9 billion in 2022 and is projected to reach USD 9.3 billion by 2030, growing at a CAGR of 5.7% during the forecast period. The market growth is driven by the increasing demand for energy storage, the rise in natural gas consumption, and the expansion of industries such as chemicals, petrochemicals, and food & beverages. In North America, the market holds a significant share, accounting for over 35% of the global market in 2022. This dominance is attributed to the regions increasing investments in natural gas infrastructure, along with technological advancements in storage solutions. The European market is also experiencing notable growth, with a CAGR of 5.2%, primarily driven by the rising demand for LNG storage and the regions commitment to reducing greenhouse gas emissions. The Asia Pacific region, especially China and India, is expected to grow at the highest rate during the forecast period due to rapid industrialization, energy demand, and government support for natural gas usage as a cleaner fuel source.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America held a significant market share of 36% in 2022, while the Asia Pacific market is anticipated to witness the highest growth rate, with a CAGR of 6.4%. This growth is primarily driven by the demand for energy storage solutions in countries like India and China. Europe also represents a substantial share of the market, owing to the growing adoption of bulk gas storage for LNG applications and a rising emphasis on sustainable energy solutions. The Middle East & Africa and Latin America markets are expected to grow at moderate rates, with increasing demand from emerging markets and a focus on improving energy security in these regions.
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Chart MVE
Thermo Scientific
Worthington Industries
Statebourne
CryoSafe
INOX India
Custom Biogenic Systems (CBS)
Day-Impex (Dilvac)
Cryotherm
Haier Shengjie
Meling
Linda
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Bulk Gas Storage Tanks Market
Vertical Tanks
Horizontal Tanks
Above Ground Tanks
Underground Tanks
Steel
Fiberglass
Polyethylene
Aluminum
Small Scale (up to 1000 m³)
Medium Scale (1000 m³ - 5000 m³)
Large Scale (above 5000 m³)
Industrial Use
Agricultural Use
Commercial Use
Residential Use
Oil and Gas
Chemical
Energy and Power
Food and Beverage
Pharmaceuticals
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Bulk Gas Storage Tanks Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Bulk Gas Storage Tanks Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Bulk Gas Storage Tanks Market, By Type
6. Global Bulk Gas Storage Tanks Market, By Application
7. Global Bulk Gas Storage Tanks Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Bulk Gas Storage Tanks Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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