Water Storage Tanks Market Growth Opportunities, Future Trends, Key Players To 2028

Precision Business Insights published a research report on "Water Storage Tanks Market: 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) - Global/Region/Country Forecast to 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.

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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.

On the basis of Type, the market is divided into Steel, Plastic, Fibreglass. On the basis of Application, the market is bifurcated into Household and Institutional. On the basis of Location, the market is categorized into Underground, Outdoor, and Indoor.

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.

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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

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