The global water tank market size reached US$ 3.88 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.98 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028. The escalating demand for fresh drinking water, increasing sales of portable water storage tanks, and the growing employment of water tanks in municipal corporations to supply clean drinking water represent some of the key factors driving the market.
A water tank collects clean water from reverse osmosis systems or other filter systems for later use and timely access. It comprises water butts and rainwater harvesting systems, baffled water tanks, and above and below ground tanks. It is manufactured from plastic, steel, fiberglass, stone, or concrete. It is widely available in various sizes, designs, and specifications and can be used in homes, commercial complexes, and large-scale industrial or municipal enterprises. It is cost-effective and easy to install and maintain while providing water for emergency fire suppression, irrigation, farming, plants and livestock, and chemical manufacturing. It helps extend the life of the pump by protecting the pump from short cycling. It ensures immediate access to pressurized water for showers or any household chores. It is coated with linings and cathodic protection that act as a physical barrier between the wall and water to prevent corrosion.
Water Tank Market Trends:
At present, the increasing demand for portable water storage tanks in commercial applications, such as aquaculture, construction, and agriculture, represents one of the key factors supporting the growth of the market. Besides this, there is a rise in the demand for water storage due to the growing population across the globe. This, along with increasing investments by individuals in household products, is propelling the growth of the market. In addition, governing agencies of several countries are implementing stringent regulations for the conservation and consumption of water. They are also focusing on installing water storage tanks to avoid scarcity of water, which is offering lucrative growth opportunities to industry investors. Moreover, key players are investing in research and development (R&D) activities to develop assorted types of tanks for specific new applications. Apart from this, the escalating demand for fresh drinking water on account of depleting groundwater reserves around the world is propelling the growth of the market. Additionally, there is an increase in the utilization of water tanks in the residential sector across the globe to store water when pipelines are not available. This, coupled with the rising employment of water tanks in municipal corporations to supply clean drinking water across cities, is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global water tank market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, installation, and end-user.
The report has provided a detailed breakup and analysis of the water tank market based on the type. This includes steel, plastic, fiberglass, and others. According to the report, plastic represented the largest segment.
A detailed breakup and analysis of the water tank market based on the installation has also been provided in the report. This includes underground, outdoor, and indoor. According to the report, outdoor accounted for the largest market share.
A detailed breakup and analysis of the water tank market based on end-user has also been provided in the report. This includes residential, commercial, industrial, and others.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for water tank. Some of factors driving the Asia Pacific water tank market included the growing population, rising construction of residential buildings, increasing scarcity of drinking water, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global water tank market. Detailed profiles of all major companies have also been provided. Some of the companies include American Tank Company, Beltecno Corporation, Design Tanks Inc (The Purcell Companies), Dn Tanks Inc., Fiber Technology Corporation, Pipeco Group, Promax Plastics Limited, Shawcor Ltd., Sintex Plastics Technology Limited, Tank Connection, Tank Holding Corp., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Steel, Plastic, Fiberglass, Others
||Underground, Outdoor, Indoor
||Residential, Commercial, Industrial, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||American Tank Company, Beltecno Corporation, Design Tanks Inc (The Purcell Companies), Dn Tanks Inc., Fiber Technology Corporation, Pipeco Group, Promax Plastics Limited, Shawcor Ltd., Sintex Plastics Technology Limited, Tank Connection, Tank Holding Corp., etc.
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Key Questions Answered in This Report:
- How has the global water tank market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global water tank market?
- What are the key regional markets?
- Which countries represent the most attractive water tank markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the installation?
- What is the breakup of the market based on the end-user?
- What is the competitive structure of the global water tank market?
- Who are the key players/companies in the global water tank market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the water tank market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global water tank market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the water tank industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.