The global water storage tanks market size was valued at USD 16.5 billion in 2021 and is poised to grow at a significant CAGR of 5.7% during the forecast period 2022–2028. Water scarcity has led to extensive use of water storage tanks in the residential as well as municipal sectors in numerous regions. The necessity for recycled or treated water and fresh water for diverse uses has led to the demand for water storage systems in the commercial sector, particularly in oil and gas refineries. Steel, fibreglass, plastic, and concrete are used to construct the water storage tanks. Consumers often choose concrete water storage systems.

View Detailed Report Description at https://precisionbusinessinsights.com/market-reports/water-storage-tanks-market/   

In both rural and urban areas, the growth in population has resulted in a significant need for water storage tanks. Furthermore, both developing countries have a limited amount of fresh water. As a result of the increased worry about the use of conventional water as a result of a lack of drinking water in many locations, the market for water storage tanks is booming. Furthermore, a rise in global construction as well as industrialization activities is driving up demand for water storage tanks around the world. The rising concern for water conservation, more government regulation of wastewater, and ageing water infrastructure are the key drivers of growth in this industry. Also boosting demand for water storage tanks is the requirement for treated, recycled, and soft water for various applications in the industrial as well as commercial sectors, especially in refineries. Because of the country's expanding population and development activity, the Asia Pacific region is expected to provide a profitable potential growth for the market.

The global water storage tanks market segmentation:

  • By Material Type: Fiberglass, Stainless Steel, Concrete, Polymer and Others
  • By Storage Capacity: Less than 5,000 Liters, 5,001 to 50,000 Liters, 50,001 to 250,000 Liters and Above 250,000 Liters
  • By Installation Type: Above Ground and Under Ground
  • By Application: Potable Water, Water Conservation, Wastewater, Industrial Wastewater, Fire Protection and Plumbing & Engineering Solution
  • By End User: Municipal, Industrial, Commercial and Residential

 

In terms of revenue, the Asia Pacific region was the greatest market during the forecast period. During the forecast period, the region is expected to grow at a considerable CAGR. The increasing construction activity in Asia Pacific, with the increasing construction of dwellings, new structures, and public spaces, can be ascribed to regional market expansion. The market growth is likely to be aided by the increased penetration of local companies in emerging markets such as India and China. With a market share of 64.55 percent in 2012 and 64.37 percent in 2016, North America was the most important market. In 2016, Europe was placed second, with a market share of 20.78 percent. Municipal, which supplies and distributes potable water to urban, semi-urban, and rural areas, is the market's largest end-use industry, accounting for 50.99 percent of market share in 2016. Municipalities are responsible for maintaining a massive network of water tanks that store and transport water according to community needs.

Request sample report at  https://precisionbusinessinsights.com/request-sample?product_id=39600

 

There are several industry players working in the Water Storage Tanks Market, which include AG Growth International Inc., BH Tank, Caldwell Tanks, Contain Enviro Services Ltd., Containment Solutions Inc., Crom Corporation

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

 

Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

 

Contact:

Mr. Satya

Precision Business Insights | Toll Free: +1 866 598 1553

Email: sales@precisionbusinessinsights.com
Kemp House, 152 – 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747