Tank Inspection - API 653: Market Size & Forecast 2026

The global tank inspection services market anchored to API 653 standards sits at approximately USD 2.8 billion in 2025, a specialised MRO category serving aboveground storage tank (AST) and underground storage tank (UST) assets across oil and gas, chemical, power, and water treatment end uses. Certified inspector labour, specifically the API 653 Authorized Inspector (AI) qualification, is the dominant cost driver at 45% of reference engagement cost, creating a structural supply bottleneck that keeps buyer power suppressed. The market grows at a 4.5% CAGR through 2032, reaching approximately USD 3.8 billion, with the near-term regulatory catalyst being PHMSA incorporation of the API 653 Fifth Edition (published July 2025) into the breakout tank rulemaking, which will expand mandatory inspection scope and tighten repair classification. North America holds the largest regional share, driven

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