South America Storage Tank Market Overview & Dynamics:
The South America Storage Tank Market was valued at USD 1.91 billion in 2023 and is projected to grow at a CAGR of 3.40% during the forecast period, reaching USD 2.41 billion by 2030. The demand for storage tanks is driven by the increasing LNG trade across South American countries, the rise in floating storage and regasification units, and the growing infrastructure development, especially in Brazil.
The adoption of Liquefied Natural Gas (LNG) is expected to increase due to regulations aimed at reducing emissions. The emphasis on water treatment plants in the region also fuels demand for industrial water storage tanks. Furthermore, the use of liquid nitrogen and CO2 for transporting fruit juices and frozen foods is projected to drive growth throughout the forecast period.
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Market Segment Analysis:
Steel Segment: Expected to grow at the highest CAGR of 4.78% from 2024 to 2030, steel accounts for approximately 45% of the market share by 2030 due to its resistance to corrosion, toughness, and durability, especially at cryogenic temperatures.
By Product
Hazardous
Non-Hazardous
By Material
Steel
Concrete
Polyethylene
Others
By Industry Vertical
Oil And Gas
Chemical
Water
Food And Beverage
Others
Country Scope
Brazil
Argentina
Rest of South America
Geography:
Brazil is expected to lead the market, offering promising opportunities in water storage tanks across various sectors including commercial, residential, and industrial.
Competitive Landscape:
The competitive landscape section provides insights into leading companies in the South America Storage Tank Market, including key developments, strategic approaches, and an in-depth analysis of market leaders, followers, and regional players. This analysis helps stakeholders understand market dynamics and anticipate future trends.
Report Features:
Porter’s Five Forces Analysis: This helps stakeholders evaluate competitive forces within the market, including the number of competitors and their market share.
PESTEL Analysis: Political, Economic, Social, Technological, Environmental, and Legal factors influencing the market are analyzed.
Market Segmentation: The market is segmented by product (hazardous and non-hazardous), material (steel, concrete, polyethylene), and industry vertical (oil and gas, chemical, water, food and beverage).
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Major Players in the Market:
CST Industries Inc.
Tank Connection
Air Water Inc.
Chart Industries, Inc.
Cryolor
IHI Corporation
Linde Plc
McDermott International, Inc.
Wartsila Corporation
Campbell Scientific, Inc.
Snyder Industries Inc.
The report offers detailed insights into market trends, key drivers, and competitive dynamics, aiding industry stakeholders in making informed decisions.
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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