Japan Storage Tank Market

Japan Storage Tank Market Insights Forecasts to 2035

• The Japan Storage Tank Market Size Was Estimated at USD 9.43 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of Around 4.89% from 2025 to 2035
• The Japan Storage Tank Market Size is Expected to Reach USD 15.95 Billion by 2035

According to a research report published by Decisions Advisors, The Japan Storage Tank Market Size is Anticipated to Reach USD 15.95 Billion by 2035, growing at a CAGR of 4.89% from 2025 to 2035. Japan storage tank market is propelled by ongoing industrial growth, expanding infrastructure projects, and increasing demand for reliable energy and water storage solutions.

Market Overview

A storage tank is a container designed to hold liquids, compressed gases, or even solids for short or long-term storage in various industries. These tanks are crucial for industries like oil and gas, chemical manufacturing, and water supply, where they are used to store a wide range of materials under controlled conditions. Storage tanks incorporate key attributes such as material composition, structural design, and storage capacity, each of which influences their durability, corrosion resistance, and suitability across various industrial operations. Additional value-adding features include UV protection for outdoor use, insulation to support temperature-sensitive applications, and robust sealing systems that reduce leakage risks and maintain product quality. The Japan storage tank market is primarily driven by ongoing infrastructure spending in key industrial sectors such as oil and gas, chemicals, and water treatment, as well as increasing urbanization and the growing need for enhanced water management systems. Additionally, Japan’s past exposure to energy supply instability reinforces the necessity for maintaining substantial reserves, thereby boosting demand for storage tanks.

METI provides financial support to companies for installing new storage tanks and facilities both domestically and internationally to improve energy security.

Report Coverage

This research report categorizes the market for the Japan Storage Tank Market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan Storage Tank Market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan Storage Tank Market.

Driving Factor

The main drivers for Japan's storage tank market include the growth of its industrial base, the rising requirements for LNG and hydrogen storage to support cleaner energy initiatives, and the growing necessity for sophisticated storage systems within water management, chemical processing, and pharmaceutical sectors.

Restraining Factor

Restraints on Japan’s storage tank market include the substantial upfront costs, fluctuations in raw material prices such as steel, constrained land availability, and strict environmental rules governing installation and disposal. These factors add to the overall expense and operational complexity for companies in the sector.

 Market Segmentation

The Japan Storage Tank Market share is categorized into type, product, material.  

By Type

The Japan Storage Tank Market is segmented by type into aboveground and underground. Among these, the aboveground storage tanks were the dominant type in the Japan storage tank market, due to their lower installation costs, ease of inspection, and operational flexibility, supported by the country’s industrial expansion in sectors such as oil, gas, and chemicals.

By Product

The Japan Storage Tank Market is segmented by product into hazardous and non-hazardous. Among these, the hazardous segment accounted for the largest revenue share in 2024 due to high demand from the oil and gas, chemical, and pharmaceutical industries for safely storing hazardous materials.

By Material

The Japan Storage Tank Market is segmented by material into steel and fiberglass reinforced plastic (FRP). Among these, the steel tank segment for the largest revenue share in 2024 due to its durability, strength, and wide applicability in sectors like oil and gas, chemicals, and water treatment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan Storage Tank Market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Toyo Kanetsu K.K. (TKK)
• IHI Corporation
• Beltecno Corporation
• Ishii Iron Works Co., Ltd.
• Air Water Inc.
• Toyo Engineering Corporation
• Mitsubishi Heavy Industries (MHI) Group
• JGC Holdings Corporation
• Mitsui E&S Group
• Other

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2024: Toyo Kanetsu K.K. (TKK) announced a 2-for-1 share split, effective for shareholders as of December 31, aiming to improve stock liquidity and make shares more accessible to investors.

 Market Segment

This study forecasts revenue at the Japan, regional, and country levels from 2020 to 2035. Decisions Advisors has segmented the Japan Storage Tank Market based on the below-mentioned segments:

Japan Storage Tank Market, By Type

• Aboveground
• Underground

Japan Storage Tank Market, By Product

• Hazardous
• Non-Hazardous

Japan Storage Tank Market, By Material

• Steel
• Fiberglass Reinforced Plastic (FRP)

Japan Storage Tank Market, By End User

• Oil & Gas
• Chemicals