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 - Global Forecast To 2030

Global Water Tank Market Overview:

The Global Water Tank Market was valued at UЅD $12,84.6 Мn in 2020 and is projected to achieve a valuation of UЅD $18,438.7 Мn by 2030, at a САGR of 4.4%.

A water tank is a container for storing water. These tanks are used to provide storage of water for use in various applications such as agriculture irrigation, fire suppression, drinking water, agricultural farming, both for plants and livestock, chemical manufacturing, and food preparation, among others.

Robust industrialization and urbanization as a direct result of booming global populations is a primary factor that is anticipated to continue to fuel the revenue growth of the global water tank market over the next ten years. Moreover, the exponential increase in agricultural and construction activities across the world due to the same reason is also a factor that is slated to complement the market growth of this global industry in the years to come.

Furthermore, the increasing need for fresh water on account of depleting groundwater reserves and growing population figures worldwide, especially in emerging economies, is another major factor that is expected to positively impact the revenue growth of the global water tank market shortly.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global water tank market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry. In addition, the regular fluctuation of raw material prices, such as concrete, plastic, metal, etc., is also a factor that may impede the revenue growth of the global water tank market in the foreseeable future.

Nevertheless, increasing focus by key industry players on developing assorted types of tanks for specific new applications is another major factor that is expected to further augment the revenue growth of the global water tank market in the coming years.

Segmentation of the Global Water Tank Market is as follows:

In terms of material type, the concrete tank segment accounted for the maximum number of revenue shares of the global water tank market in 2020. This segment is expected to continue doing so over the next decade. However, the plastic tank segment is anticipated to index the highest CAGR over the forecast period.

Based on end-use, the municipal segment accounted for the maximum number of revenue shares of the global water tank market in 2020. This segment is slated to continue doing so over the next 10 years. However, the industrial segment is anticipated to register the highest CAGR over the forecast period.

Regional Segmentation and Analysis:

The markets in Europe accounted for the maximum number of revenue shares of the global water tank market in 2020 and are indicative of retaining their respective market position over the next decade. However, the market in China is anticipated to index the highest CAGR throughout the forecast period.

Segmentation of the Global Water Tank Market:

Segmentation by Material Type:

• Concrete Tank
• Metal Tank
• Plastic Tank
• Fiber Glass Tank

Segmentation by End-Use:

• Commercial
• Residential
• Municipal
• Industrial
• Others

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA