Water Storage Tanks Market Size and Overview:
The global water storage tanks market estimated to be valued around US $ 13.6 Bn in 2018 and poised to grow at significant CAGR of 4.9% over 2019-2025. Due to the increase in the population, rapid urbanization and industrialization rise in the water shortage in several regions has led to the widespread use of water storage tanks in the residential and non-residential sectors. In addition, population growth has led to increasing demand for drinking water in urban and rural regions. Rise in the awareness of the water conservation and growth in the technological advancement to the focus on recycled and reused water from the industrial sector boost the growth of the water storage tanks device market. However, High cost of water storage tanks and installation & repair of water tanks are the major factors that hinder the growth of the water storage tanks market.
Water Storage Tanks Market Description:
Water storage tanks market report gives comprehensive outlook on water storage tanks across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global water storage tanks market gives historical, current, and future market sizes (US$ Mn) on the basis of Material type, Storage capacity, Installation type, Application, End user and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global water storage tanks market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global water storage tanks market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global water storage tanks market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global water storage tanks products.
Increasing Conservation of Water are fueling the Market Growth of the Water Storage Tanks Market
In the recent years, Due to increase in the usage of fresh water for various activities in the residential and industrial sectors which leads to increase the demand of water storage tanks. Water storage tanks which are used to conserve and store water to consume for long period of time or in water scarcity conditions. Increasing concerns about the shortage of ground water, the need for water conservation increases. This is estimated to boost the demand for industrial water storage tanks for water treatment and purification so water can be reuse.
Asia Pacific Accounts for Larger Market Revenue Share in Global Water Storage Tanks Market
Asia Pacific accounted for larger revenue share in global market with considerable CAGR. The growth in this region can be attributed to increasing scarcity of water, inefficient recycling of industrial wastewater for reuse, rapidly increasing population & urbanization, increasing government emphasis for water conservation and reuse are some of the major key factors rising in the awareness of the conservation of water which boosting the market growth. In this region, countries like India are undergoing severe water scarcity thus, the demand for water storage systems is increasing. In North America, the expansion of the water storage tank market can also be attributed to the massive oil and gas production activities that require freshwater and also recycle & reuse.
Key player’s profiled in the report are:
- AG Growth International Inc.
- BH Tank
- Caldwell Tanks
- Contain Enviro Services Ltd.
- Containment Solutions Inc.
- Crom Corporation
- CST Industries, Inc.
- DN Tanks
- Fiber Technology Corporation
- Grupo Rotoplas S.A.B. De C.V.
- HMT LLC
- Maguire Iron Inc.
- Mcdermott International, Inc.
- Snyder Industries
- Synalloy Corporation
- Tank Connection
- Sintex Industries
- ZCL Composites, Inc.
Global water storage tanks market is surging owing to frequent acquisitions and launchings by the market players. In April 2019, CST Industries, Inc. partnered with Greatario Engineered Storage Systems to design and build bolted steel tanks and covers for liquid storage. It will help CST Industries to develop its Aqua store brand of storage tanks in the western regions of Canada.
By Material Type
- Stainless Steel
- High-density polyethylene (HDPE)
- Linear low-density polyethylene (LLDPE)
By Storage Capacity
- Less than 5000 Liters
- 5001 to 50000 Liters
- 50001 to 250000 Liters
- Above 250000 Liters
By Installation Type
- Above Ground
- Under Grounds
- Potable Water
- Water Conservation
- Industrial Wastewater
- Fire Protection
- Plumbing & Engineering Solution
By End User
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Findings of the Report:
- Global water storage tanks market expanding at significant CAGR over 2019 to 2025 due to increase in the awareness of conservation of water.
- Based on material type, storage capacity, installation type, application, end user and region water storage tanks segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period.
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global water storage tanks market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025).
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario.
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market