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Historical Year
Forecast Year
The global water tank market attained a value of USD 4.18 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3.2% to reach USD 5.56 billion by 2032.
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Based on type, the plastic segment was the significant revenue contributor, accounting for a considerable share in the historical period. There has been a rise in demand for plastic water tanks due to their benefits such as easily available, affordability, and quick installation time. Thus, the plastic or the polyethylene water tank is one of the most widely used water tank all around the world owing to its easy availability and installation process.
Geographically, the Asia Pacific was the largest market, in terms of revenue generation, in the historical period. The region is further expected to expand with a significant CAGR during the forecast period. The regional market growth can be attributed to the increasing construction activities in the Asia Pacific, with the rising construction of households, new buildings, and public places. The increasing penetration of domestic players in emerging economies like India and China is expected to further contribute to the market growth. For instance, in November 2020, Astral Poly Technik Limited announced to enter the business of manufacturing plastic water storage tanks in India in an investment of around Rs75cr, thus, adding new capacity to enhance its market position.
Water tanks refer to containers used to store liquid. They come in various shapes and sizes. Water tanks are used to provide storage of water for use in many applications, such as drinking water, irrigation agriculture, fire suppression, agricultural farming, both for plants and livestock, chemical manufacturing, food preparation as well as many others.
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By type the industry is segmented into:
Based on application, the market is bifurcated into:
The market can be broadly categorised on the basis of location into:
The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global water tank industry is being driven by the increasing application of water tanks in areas such as agriculture, aquaculture, household, and others. This has led to a consistent increase in sales of water tanks all around the world, thus, contributing to the water tanks industry growth. Also, the rise in use of water tanks for underground water storage for conservation is expected to further enhance the market growth. The rapid industrialisation and urbanisation, which is a direct result of booming global populations, is also propelling the industry growth. In addition, the exponential increase in construction activities across the world is poised to enhance the market growth in the forecast period. Furthermore, the increasing focus of leading industry players to develop assorted types of tanks for specific new applications is anticipated to further propel the industry forward over the forecast period.
The report presents a detailed analysis of the following key players in the global water tank market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Location |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global water tank market attained a value of nearly USD 4.18 billion.
The market is projected to grow at a CAGR of 3.2% between 2024 and 2032.
The major drivers of the market are the increasing demand for freshwater, the growing applications of water tanks in areas such as agriculture and aquaculture, and the exponential increase in construction activities.
The key trends of the market are the growing adoption of plastic tanks in commercial sector and the increasing focus by key market players to develop assorted types of tanks for specific new applications.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of water tank in the market are steel, plastic, and fibreglass.
The major applications of water tank are household and institutional.
The significant locations of the market are underground, outdoor, and indoor.
The key players in the global water tank market are Beltecno Corporation, Design Tanks, Inc, Dn Tanks, Inc, Fiber Technology Corporation, and Pipeco Group, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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