North America Fire Protection Water Storage Tanks Market Report and Forecast 2024-2032

North America Fire Protection Water Storage Tanks Market Outlook

The North America fire protection water storage tanks market attained a value of about USD 280.99 million in 2023. The market is further expected to grow at a CAGR of 12% in the forecast period of 2024-2032 to reach a value of approximately USD 779.27 million by 2032.

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The market in the North America region is gaining traction owing to its rapid technological advancements within the region. The market expects promising growth in the region within several sectors, such as commercial, municipal, industrial, and residential. Due to increased disposable incomes and advanced lifestyles of people, the market has witnessed a strong growth and will continue observing expansion in the forecast period.

Market Segmentation

Water storage tanks mainly assist in supplying water to fire sprinkler systems, in part or in whole. These comprise of warehouses with high-piled storage, aircraft hangars, and high-rise buildings situated in earthquake-prone areas that require a secondary water supply. Fire departments use fire suppression storage tanks that have a dedicated location for a specified volume of water to supplement or act as the key source of water during fire suppression. 

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The market is divided on the basis of material type into:

• Steel
• Fibreglass 
• Others

Steel is further divided on the basis of type into steel welded, and steel bolted.

Based on coating type, the industry is segmented into:

• Epoxy
• Glass-Fused-to-Steel
• Others

On the basis of size, the industry is divided into:

• 100,000-250,000 Gallons
• 50,000-100,000 Gallons
• 25,000-50,000 Gallons
• >250,000 Gallons
• <25,000 Gallons

On the basis of application, the industry is segregated into:

• Commercial
• Industrial
• Residential

The commercial application sector is divided on the basis of type into large warehouses, shopping centres, hospitals, office buildings, and others.

The regional markets for the product include the United States and Canada.

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Market Analysis

The fire protection water storage tanks market in North America is driven by technological advancements and product innovation in the industry. The product is cementing its hold in the region as it is gaining prominence in several sectors. Further, owing to advanced technology, the market has introduced enhanced products, which are more flexible, more durable, and cost-efficient in comparison to original products. The market is further expected to witness a significant impact in the forecast period due to the construction of warehouses, hotels, and offices in the North America region. The fire protection water storage tanks are used to supply water in critical situations like fire in the unit or building, especially in places that have scarce water supply or not connected to a municipal supply. Thereby, resulting in a strong growth of the market within North America, as the region has increased urbanisation and industrialisation, further increasing the likelihood of such mishaps requiring fire protection water storage tanks. 

Competitive Landscape

The report gives a detailed analysis of the following key players in the North America fire protection water storage tanks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Superior Tank Co., Inc.
• Tank Connection
• T.F. Warren Group
• CST Industries
• National Storage Tank
• Fisher Tank Company
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report