IMARC Group has recently released a new research study titled “Water Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the water tank market?
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.
Industry Overview:
A water tank is a container designed to store water for various purposes, such as drinking, irrigation, fire suppression, agriculture, or industrial uses. It comes in various sizes, shapes, and materials, such as plastic, steel, concrete, and fiberglass, each offering different benefits in terms of durability, cost-effectiveness, and environmental impact.
Some tanks are installed above ground, while others are buried underground, depending on the specific needs and constraints of the location. It is widely used in industrial settings in managing water supply, ensuring the availability of ample water for processing activities, and cooling heavy machinery and equipment.
Besides, in residential and commercial sectors, these tanks provide a reliable source of water for daily consumption and emergencies. Presently, there has been a considerable rise in the utilization of water tanks, on account of various factors, such as climate change and water scarcity issues.
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Water Tank Market Trends and Drivers:
The escalating need for water storage solutions in arid regions and areas suffering from periodic water is driving the global market. Coupled with this, the growing global population and rapid urbanization have increased the demand for reliable water storage systems in both urban and rural communities. Moreover, the rising use of water tanks in manufacturing plants, oil and gas industries, and power generation facilities for process water storage and wastewater treatment is propelling the market.
Besides, the rising use of water tanks in manufacturing plants, oil and gas industries, and power generation facilities for process water storage and wastewater treatment is augmenting the market. Furthermore, the emergence of innovative, durable, and eco-friendly materials in water tank manufacturing, such as high-density polyethylene (HDPE) and fiberglass-reinforced plastic (FRP), is favoring the growth of the water tank market.
Competitive Landscape With Key Players:
Who are the key players operating in the industry
Water Tank Manufacturers:
- BAE Systems PLC
- Cobham PLC
- Furuno Electric Company Ltd.
- Harris Corporation
- Mayflower Communications Co. Inc.
- Novatel Inc. (Hexagon AB)
- Raytheon Company
- Rockwell Collins
- Thales Group
- U-Blox Holding AG Ltd.
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Key Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Type Insights:
- Steel
- Plastic
- Fiberglass
- Others
Breakup by Installation Insights:
- Underground
- Outdoor
- Indoor
Breakup by End-User Insights:
- Residential
- Commercial
- Industrial
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
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