MarketResearch.biz announces publication of its most recently generated research report titled, “Global Water Tank Market by Material Type (Concrete Tank, Metal Tank, Plastic Tank, and Fiber Glass Tank), by End-use (Commercial, Residential, Municipal, Industrial, and Others), and by Region/ Country (US, Europe, China, Japan, India, South East Asia, and Rest of the World) – Global Forecast to 2029”, which offers a holistic view of the global water tank market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2020–2024) is projected to be more than US$ 75 Bn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
Water tanks are containers basically used for storage of any liquids such as water, oil, and other fluids. Water tanks are used for domestic as well as industrial applications, and are available produced in a range of colors, sizes, and shapes. Materials used to manufacture these tanks include steel, fiberglass, plastic, and stone and concrete.
Rapid industrialization and rising need for tanks for storing liquid substances in various industries and sectors such as oil & gas, cement, paints, chemicals, additives, solvents, etc. is among some of the major factors estimated to drive global water tank market growth. In addition, increasing construction and infrastructure projects and rapid urbanization is projected to further support demand for water tanks and drive growth of the target market. China is a rapidly developing economy and has grown exponentially over the last two decades. Demand for water tanks owing to rapid population growth and increasing scope of applications in residential and non-residential sectors are among other factors driving market growth. Increasing R&D initiatives and expansion of production facilities are expected to open up more lucrative revenue opportunities for existing players and new entrants in the market to a significant extent in the years to come.
Browse the full “Water Tank Market By Material Type (Concrete Tank, Metal Tank, Plastic Tank, And Fiber Glass Tank), By End-Use (Commercial, Residential, Municipal, Industrial, And Others), And By Region/ Country – Global Forecast To 2029” report at https://marketresearch.biz/report/water-tank-market/
Global Water Tank Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global water tank market based on factors affecting or impacting the market and the resulting and projected scenario in the foreseeable future. According to the forecast projections, revenue from the global water tank market is expected to expand at a CAGR of over 4.1% over the forecast period.
Global Water Tank Market: Segmental Snapshot
The market report has been segmented on the basis of material type, end-use, and region/ country. The material type segments include concrete, metal, plastic, and fiber glass. The end-use segments include commercial, residential, municipal, industrial, and others. The regions/ countries covered in the analysis include US, Europe, China, Japan, India, South East Asia, and Rest of the World.
Material Type: The concrete tank segment is expected to account for highest revenue share contribution as compared to other segments, and is projected to register a CAGR of over 3.4% over the forecast period.
End-use: The municipal segment is projected to account for highest revenue share as compared to that of other segments, and is projected to register a CAGR of over 3.3% over the forecast period.
Region: The market in the Rest of the World (RoW) accounted for the highest revenue share in the global water tank market, The China market is projected to register the highest CAGR of over 4.3% over the forecast period.
Global Water Tank Market: Competitive Analysis
The research report on the global water tank market include profiles of some major companies such as Shawcor (ZCL Composites), Tank Connection, L.L.C., United Industries Group Inc., American Tank Company, Inc., McDermott International, Inc., Maguire Iron, Inc., Norwesco, Inc., Containment Solutions, Inc., CST Industries, Schumann Tanks, DN Tanks Inc., The Crom Corporation, Caldwell Tanks, Inc., Tank Holding Corp. (Snyder Industries), and Promax Plastics Limited.
“Global Water Tank Market: Industry, Size, Share, Growth, Trends, and Forecast, 2020–2029” report has been prepared based on in-depth market analysis, with inputs from industry experts. This report covers the present scenario and growth prospects of the global water tank market for 2019–2029, which is a 10-year forecast period.
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