Lucintel Forecasts Water Storage Tank Market To Reach $14.7 Billion By 2025

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According to the recent study the water storage tank market is projected to reach an estimated $14.7 billion by 2025 from $12.2 billion in 2019, at a CAGR of 3.2% from 2020 to 2025. Growth in this market is primarily driven by growing construction activities, increasing concerns about water conservation, increasing government regulations for wastewater, and aging water infrastructure.
Browse 175 figures / charts and 133 tables in this 250 -page report to understand trends, opportunities and forecast in 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 underground), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Concrete market is expected to remain the largest segment during the forecast period.”
Based on material, the water storage tank market is segmented into fiberglass, steel, concrete (built in place and precast), polymer, and others. Lucintel forecasts that the concrete is expected to witness the largest segment over the forecast period due to low-cost, durability, and minimal maintenance requirements and 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 water storage tank market, the municipal segment is expected to remain the largest end use”
Based on end use, the municipal segment is expected to witness the largest end use industry over the forecast period due to increasing infrastructure spending. The commercial segment is expected to witness the highest growth due to increasing commercial construction activities.
“Asia Pacific will dominate the water storage tank market in near future”
Asia Pacific is expected to be the largest region over the forecast period and witness the highest growth over the forecast period due to growing population and construction activities in this region.
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Major players of water storage tank market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. McDermott International, Caldwell Tanks, Crom Corporation, Tank Connection, DN Tanks, Synalloy Corporation, Fiber Technology Corporation, ZCL Composites, Sintex Industries, and Superior Tank and others are among the major water storage tank providers.
This unique 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 click on this link https://www.lucintel.com/water-storage-tank-market.aspx or helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
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