The North America fire protection water storage tanks market size reached US$ 301.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 479.1 Million by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.
North America Fire Protection Water Storage Tanks Market Size in 2022
US$ 301.9 Million
North America Fire Protection Water Storage Tanks Market Forecast in 2028
US$ 479.1 Million
North America Fire Protection Water Storage Tanks Market Growth Rate (2023-2028)
Water storage tanks help in supplying water to fire sprinkler systems, in part or in whole. These include warehouses with high-piled storage, aircraft hangers, and high-rise buildings located in earthquake-prone areas that need a secondary water supply. Fire suppression storage tanks create a dedicated location for a particular volume of water which can be utilized by fire departments to supplement or act as the main source of water during fire suppression. In areas where water is either scarce or not connected to a municipal supply, fire suppression tanks are able to supply the critical water needed for fire protection.
With rapid technological advancements and product innovations, the market for water storage tanks has gained traction across North America. The future of the North American water storage tanks market looks promising with opportunities in commercial, municipal, industrial, and residential sectors. Water storage tanks for fire protection have been exhibiting growth in recent years as technology has advanced, processes have evolved, and standards have become more rigorous resulting in increased flexibility, greater durability and lower costs. Furthermore, the construction of warehouses, hotels and offices are witnessing healthy growth rates, which is also expected to stimulate the growth of the fire protection water storage tanks market in North America in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the North America fire protection water storage tanks market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on material type, coating type, size and application.
Breakup by Material Type:
Breakup by Coating Type:
Breakup by Size:
Breakup by Application:
Breakup by Country:
The report has also examined the competitive landscape of the North America fire protection water storage tanks market. Some of the major players include: Superior Tank Co. Inc, Tank Connection LLC, T.F. Warren Group Inc, CST Industries Inc., National Storage Tank Inc., Fisher Tank Company, DN Tanks Inc., Gulf Coast Tank and Construction Co., Pittsburg Tank & Tower Co Inc, etc.
Base Year of the Analysis
Material Type, Coating Type, Size, Application, Country
United States, Canada
Superior Tank Co. Inc, Tank Connection LLC, T.F. Warren Group Inc, CST Industries Inc., National Storage Tank Inc., Fisher Tank Company, DN Tanks Inc., Gulf Coast Tank and Construction Co. and Pittsburg Tank & Tower Co Inc.
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Key Questions Answered in This Report
The North America fire protection water storage tanks market was valued at US$ 301.9 Million in 2022.
We expect the North America fire protection water storage tanks market to exhibit a CAGR of 7.5% during 2023-2028.
The increasing demand for fire protection water storage tanks market across various sectors, such as commercial, municipal, industrial, etc., to supply the critical water needed for fire protection, is primarily driving the North America fire protection water storage tanks market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several North American nations, resulting in the temporary closure of numerous end-use industries for fire protection water storage tanks.
Based on the material type, the North America fire protection water storage tanks market has been segmented into steel, fiberglass, and others, where steel currently holds the majority of the total market share.
Based on the coating type, the North America fire protection water storage tanks market can be divided into epoxy, glass-fused-to-steel, and others. Currently, epoxy exhibits a clear dominance in the market.
Based on the size, the North America fire protection water storage tanks market has been categorized into 100,000-250,000 gallons, 50,000-100,000 gallons, 25,000-50,000 gallons, >250,000 gallons, and <25,000 gallons. Among these, 100,000-250,000 gallons currently account for the largest market share.
Based on the application, the North America fire protection water storage tanks market can be segregated into commercial, industrial, and residential. Currently, commercial exhibits a clear dominance in the market.
On a regional level, the market has been classified into United States and Canada, where United States currently dominates the North America fire protection water storage tanks market.
Some of the major players in the North America fire protection water storage tanks market include Superior Tank Co. Inc, Tank Connection LLC, T.F. Warren Group Inc, CST Industries Inc., National Storage Tank Inc., Fisher Tank Company, DN Tanks Inc., Gulf Coast Tank and Construction Co., Pittsburg Tank & Tower Co Inc, etc.
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