Opportunities for the global water storage tank market to reach $14 billion by 2023

According to a new market report published by Lucintel, the future of the global water storage tank market looks promising with opportunities in commercial, municipal, industrial, and residential sectors. The global water storage tank market is expected to reach an estimated $14 billion by 2023 with a CAGR of 3.8% from 2018 to 2023. 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.
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 global 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 global 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 Global Water Storage Tank Market 2018-2023: 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 global water storage tank market by application, material, size, end use, type, and region, as follows:
By Application Type [Value ($ Million) from 2012 to 2023]:
• Potable Water
• Water Conservation
• Wastewater
• Industrial Wastewater
• Fire Protection
• Plumbing & Engineering Solution
By Material Type [Value ($ Million) from 2012 to 2023]:
• Fiberglass
• Steel
• Concrete (Built in Place and Precast)
• Polymer
• Others
By Storage Capacity [Value ($ Million) from 2012 to 2023]:
• 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 2012 to 2023]:
• Municipal
• Industrial
• Commercial
• Residential
By Installation Type [Value ($ Million) from 2012 to 2023]:
• Above Ground
• Under Ground
By Region [Value ($ Million) from 2012 to 2023]:
• North America
− US
− Canada
− Mexico
• Europe
− Germany
− France
− UK
− Russia
− Spain
− Italy
• APAC
− China
− Japan
− India

• ROW
− Brazil
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 or helpdesk@lucintel.com. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.

This report addresses the following key questions:

Q. 1. What are some of the most promising, high-growth opportunities for global water storage tank market by application (potable water, water conservation, wastewater, industrial wastewater, fire protection, and plumbing & engineering solutions), material (fiberglass, steel, concrete (built in place and precast), polymer, and others), size (less than 5,000 liters, 5,001 to 50,000 liters, 50,001 to 250,000 liters, and more than 250,000 liters), end use (municipal, industrial, commercial, and residential), type (above ground and under ground), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Lucintel LLC
Lucintel, 8951 Cypress Waters Blvd., Suite 160, Dallas, TX 75019
Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com

This release was published on openPR.