Lucintel’s latest market report analyzed that water storage tank provides attractive opportunities in commercial, municipal, industrial, and residential sectors. The water storage tank market is expected to reach $14.7 billion by 2025 with a CAGR of 3.2%. In this market, concrete is the largest segment by material, whereas municipal is largest by end use. The increasing use of roto-molding powder to manufacture cost effective tanks and increasing demand of four layered water storage tanks provides strategic growth path in this market.
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Based on material, the water storage tank market is segmented into fiberglass, steel, concrete (built in place and precast), polymer, and others. The concrete tank segment is accounted for the largest share of the market in 2020 due to low-cost, durability, and minimal maintenance requirements and fiberglass water tanks will witness the highest growth because of light weight, high degree of chemical resistance, service life, and low maintenance cost.
Browse in-depth TOC on “Water Storage Tank Market”
133 – Tables
175 – Figures
250 – Pages
The water storage tank market is marked by the presence of several big and small players. Some of the prominent players offering Water storage tank include McDermott International, Caldwell Tanks, Crom Corporation, Tank Connection, DN Tanks, Synalloy Corporation, Fiber Technology Corporation, ZCL Composites, Sintex Industries, and Superior Tank and others.
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