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 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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