Opportunities for the global metal tank market to reach $10.1 billion by 2023

According to a new market report published by Lucintel, the future of the global metal tank market looks promising with opportunities in oil and gas, industrial, and municipal applications. The global metal tank market is expected to reach an estimated $10.1 billion by 2023 with a CAGR of 3.3% from 2018 to 2023. The major drivers for this market are growing construction activities, increasing refineries, and growing industrialization.

In this market, aboveground and underground metal tanks are used in a wide range of industries. On the basis of comprehensive research, Lucintel forecasts that aboveground metal tanks will remain the largest segment and witness the highest growth over the forecast period due to easier access for repairs and maintenance.

Within the metal tank market, oil and gas will remain the largest end use industry and witness the highest growth over the forecast period due to new establishment of refineries and increasing exploration and distribution activities.

Asia Pacific will continue to be the largest market and witness the highest growth over the forecast period due to increasing oil and gas demand and retail fuel stations in developing nations such as China and India.

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of sidewall insulation in metal tanks to maintain temperature and growing adoption of dual seam systems to emphasize strength and corrosion resistance. Worthington, Trinity Industries, McDermott, CIMC, Toyo Kanetsu, CST Industries, Palmer of Texas are among the major manufacturers of metal tanks.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global metal tank market by installation type, end use industry, application, pressure type, build type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Metal Tank Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global metal tank market by installation type, end use industry, application, size, pressure type, build type, and region, as follows:

 By Installation Type [Value ($Billion) from 2012 – 2023]:

•          Aboveground
•          Underground

By End Use Industry [Value ($Billion) from 2012 – 2023]:

•          Oil and gas
•          Industrial
•          Municipal and Others

By Application [Value ($Billion) from 2012 – 2023]:

•          Fuel
•          Water and Wastewater
•          Fire Protection
•          Industrial
•          Food and Beverage
•          Paper and Pulp
•          Others 

By Size [Value ($Billion) from 2012 – 2023]:

•          Below 5,000 Gallons
•          5,000 to 25,000 Gallons
•          Over 25,000 Gallons

By Pressure Type [Value ($Billion) from 2012 – 2023]:

• Pressure
• Non- Pressure

By Build Type [Value ($Billion) from 2012 – 2023]:

• Custom Fabricated at the Factory
• Custom Fabricated and Field Erected 

By Region [Value ($Billion) from 2012 – 2023]:

·         North America

·         Europe

·         Asia Pacific

·         The Rest of the World

This 234 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the global metal tank market by end use industries (industrial, oil and gas, and municipal and others), installation type (aboveground and underground), application (fuel, water and wastewater, fire protection, industrial, food and beverage, paper and pulp and others, Size (Below 5,000 gallons, 5,000 to 25,000 gallons, and over 25,000 gallons),  pressure type (pressure and non- pressure), build type (custom fabricated at the factory and custom fabricated and field erected), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are emerging trends in this market and the reasons behind them?

Q.7 What are some changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?