Floating Storage Tank Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 1.8 Billion by 2033 at a CAGR of 5% from 2026 to 2033.
The global floating storage tank market was valued at approximately $XX billion in 2022 and is projected to grow at a CAGR of XX% from 2022 to 2027. This growth is primarily driven by increasing oil and gas exploration activities, rising energy consumption, and growing demand for strategic storage solutions. The market has also witnessed significant investments in expanding storage capacities, especially in emerging economies. Additionally, advancements in storage tank materials and designs have further fueled market growth. The demand for crude oil storage and refined products continues to remain high, contributing to the robust growth of the floating storage tank market. The energy sectors reliance on floating storage for flexible and efficient inventory management has bolstered its adoption.
Regionally, Asia Pacific dominated the floating storage tank market in 2022, holding a substantial market share due to the presence of large refining capacities, particularly in China and India. The Middle East and Africa also accounted for significant market shares, driven by the regions vast oil reserves and export infrastructure. North America showed moderate growth, supported by increased domestic oil production and strategic petroleum reserves. Europe is anticipated to witness steady growth, with ongoing energy transition efforts and the need for reliable storage solutions. Latin America is expected to experience growth due to the development of offshore oil fields. Government regulations, increasing investments in energy infrastructure, and the demand for secure storage solutions across these regions present lucrative opportunities for market expansion.
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Musthane
Vikoma
ALLENTECH
T BAILEY
INC
Aqua-Guard Spill Response
Canflex
Covertex
Desmi
ECOservice-NEFTEGAZ
EMPTEEZY
Markleen Terra
New Naval Ltd.
Safetmade Marine Products Co.
Ltd
Sillinger
Vikoma International
Ergil
Sandborn Roofs Inc.
Elsont
HMT Rubbaglas Ltd
Nawa
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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 Floating Storage Tank Market
FLO (Floating Roof Tanks)
IFR (Internal Floating Roof Tanks)
Fixed Roof Tanks
Others
Below 50,000 Barrels
50,000 to 100,000 Barrels
100,000 to 250,000 Barrels
Above 250,000 Barrels
Oil Storage
LNG Storage
Petrochemical Storage
Others
Steel
Composite Materials
Concrete
Others
Oil & Gas
Chemical Industry
Shipping & Maritime
Pipelines
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 Floating Storage Tank 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 Floating Storage Tank Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Floating Storage Tank Market, By Type
6. Global Floating Storage Tank Market, By Application
7. Global Floating Storage Tank Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Floating Storage Tank Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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