According to a new market report published by Lucintel, the future of the water storage tank market looks promising with opportunities in commercial, municipal, industrial, and residential sectors. The water storage tank market is expected to reach an estimated $14,406.5 million by 2024 with a CAGR of 3.4% from 2019 to 2024. The major growth drivers for this market are growing construction activities, increasing concerns about water conservation, increasing government regulations for wastewater, and aging water infrastructure.
Browse 133 market data tables and 175 figures spread through 250 pages and in-depth TOC on “Water Storage Tank Market"
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In this market, concrete (built in place and precast), polymers, steel, and fiberglass are the materials used for manufacturing of water storage tanks. On the basis of comprehensive research, Lucintel forecasts that the concrete water storage tank is expected to remain the largest segment over the forecast period due to low-cost, durability, and minimal maintenance requirements. Lucintel predicts that fiberglass water tanks will witness the highest growth because of light weight, high degree of chemical resistance, service life, and low maintenance cost.
Within the water storage tank market, the municipal will remain the largest end use segment during the forecast period due to increasing infrastructure spending. The commercial segment is expected to witness the highest growth due to increasing commercial construction activities.
APAC is expected to remain the largest market and also witness the highest growth over the forecast period due to growing population and construction activities in this region.
Emerging trends which have a direct impact on the dynamics of the industry include increasing use of roto-molding powder to manufacture cost effective tanks and increasing demand of four layered water storage tanks. McDermott International, Caldwell Tanks, Crom Corporation, Tank Connection, DN Tanks, Synalloy Corporation, Fiber Technology Corporation, ZCL Composites, Sintex Industries, and Superior Tank are among the major suppliers of water storage tanks.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the water storage tank market by end use, application, installation type, storage capacity, material, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Water Storage Tank Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the water storage tank market by application, material, size, end use, type, and region, as follows:
By Application Type [Value ($ Million) from 2013 to 2024]:
Potable Water
Water Conservation
Wastewater
Industrial Wastewater
Fire Protection
Plumbing & Engineering Solution
By Material Type [Value ($ Million) from 2013 to 2024]:
Fiberglass
Steel
Concrete (Built in Place and Precast)
Polymer
Others
By Storage Capacity [Value ($ Million) from 2013 to 2024]:
Less than 5,000 Liters
5,001 to 50,000 Liters
50,001 to 250,000 Liters
Above 250,000 Liters
By End Use [Value ($ Million) from 2013 to 2024]:
Municipal
Industrial
Commercial
Residential
By Installation Type [Value ($ Million) from 2013 to 2024]:
Above Ground
Under Ground
By Region [Value ($ Million) from 2013 to 2024]:
North America
Europe
Germany
France
UK
Russia
Spain
Italy
APAC
This 250-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/water-storage-tank-market.aspx or helpdesk@lucintel.com.
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