Industrial Water Storage Statistics For 2024

Apr 19, 2024

Are you looking for the latest trends and up-to-date statistics on global industrial water storage statistics?

Be ready to delve into the depths of data as we’ve got the recent reports and studies focusing on global industrial water storage statistics and an insight into India and USA market trends and sizes.

Here are a few important key takeaways to note before we uncover the complex of industrial water storage globally.

Key Takeaway:

According to the latest elevated water storage tanks market forecast, Asia Pacific accounted for more than 60.0% share in 2022 and is anticipated to constitute a significant share from 2023 to 2031.
As per the current market research conducted by the Custom Market Insight Market Research Team, the India ISO Tank Container market is expected to record a CAGR of 3.11% from 2023 to 2030.
The global Industrial Water Storage Tanks market was valued at USD 730.2 million in 2020 and it is expected to reach USD 1128.5 million by the end of 2027, growing at a CAGR of 6.4% during 2024-2027.

Global Water Storage Statistics

1: The steel-type segment in the elevated water storage tank markets is projected to amount to the largest share from 2023 to 2031. Steal is a durable and strong material that can withstand high pressure.

2: The global water storage tank market is expected to reach an estimated $30.4 billion by 2030. The major growth drivers for this market are increasing concerns about water conservation, increasing government regulations for wastewater, growing construction activities, and aging water infrastructure.

3: The global Storage Tank Market segmentation, based on type includes Aboveground Storage Tanks and Underground Storage Tanks. The aboveground storage tanks segment dominated the market, accounting for 57% of market revenue and valued at USD 7.83 Billion in 2022 and is projected to reach USD 11.08 Billion by 2030, growing at a CAGR of 3.94% from 2023 to 2030.

4: The global Industrial Water Storage Tanks market was valued at USD 730.2 million in 2020 and it is expected to reach USD 1128.5 million by the end of 2027, growing at a CAGR of 6.4% during 2024-2027.

5: The global fiber-reinforced plastic (FRP) tank market was valued at 2.22 billion U.S. dollars in 2021 - an increase of 10% compared with the previous year. The market size is projected to grow in the coming years to reach a value of 2.88 billion U.S. dollars by 2027.

6: In terms of product, pressurized industrial storage tanks are the largest segment with a share of over 60%. In terms of applications, the largest application is the chemical industry with a share of about 23%.

7: The global Chemical Storage Tank market size was valued at USD 1738.93 million in 2021 and is expected to expand at a CAGR of 2.98% during the forecast period, reaching USD 2073.59 million by 2027.

8: Based on Product, the global Storage Tank Market segmentation includes Hazardous and Non-Hazardous. The hazardous segment dominated the market, accounting for 61% of market revenue in 2022.

9: The global Storage Tank Market segmentation, based on Industry Vertical, includes Oil & Gas, Chemicals, Water, Food & Beverage, and Others. The oil & gas segment dominated the market, accounting for 41% of market revenue in 2022.

10: The global Storage Tank Market segmentation, based on Material, includes Steel, Concrete, Polyethylene, and Others. The polyethylene segment accounted for the largest market share of 37% in 2022. Plastic tanks, often known as polyethylene tanks, are inexpensive, adaptable, and lightweight storage options.

Indian Water Storage Tank Market Trends and Sizes

1: The India ISO Tank Container Market is Expected to Record a CAGR of 3.11% from 2023 to 2030

As per the current market research conducted by Custom Market Insight Market Research Team, the India ISO Tank Container market is expected to record a CAGR of 3.11% from 2023 to 2030. In 2023, the market size was projected to reach a valuation of US$ 562.90 million. By 2030, the valuation is anticipated to reach US$ 697.49 million.

The India ISO Tank Container market is the industry that deals with the manufacturing, distribution, and transportation of specialized containers used for transporting gases, liquids, and powders in bulk quantities.

ISO tank containers are built to carry a wide range of products, including chemicals, food and beverage products, and pharmaceuticals, among others.

Several factors contribute to the growth of the India ISO Tank Container market, including an increase in demand for efficient and cost-effective liquid and gas transportation across various sectors.

2: India, Bangladesh, Pakistan, and China are key markets for elevated water storage tanks in the Asia Pacific.

According to the latest elevated water storage tanks market forecast, Asia Pacific accounted for more than 60.0% share in 2022 and is anticipated to constitute a significant share from 2023 to 2031. India, Bangladesh, Pakistan, and China are key markets for elevated water storage tanks in the Asia Pacific.

3: Over 10% of Indians Experience Severe or Acute Water Scarcity

In many areas of India, water shortages have been a persistent issue. According to the Centre for Science and Environment, over 10% of Indians experience severe or acute water scarcity.

To tackle this challenge, the Indian government is improving water infrastructure (groundwater wells, dams, storage tanks, pipelines, and so on), which will help to reduce not just the amount of clean water wasted, but also the number of people who are always hunting for clean water.

As a result, the need for water tanks is anticipated to rise.

4: India's Water Tank Market was Valued At USD 1, 199.33 Million In 2023

India's water tank market was valued at USD 1, 199.33 million in 2023 and is anticipated to project robust growth during the forecast period with a CAGR of 12.08% owing to the following factors as rising construction activities, increasing focus on wastewater management, and growing demand for plastic water tanks.

USA Commercial Water Storage Market Trends and Sizes

1: The US commercial water storage tank market was valued at US$1.72Bn in 2022 and is projected to reach a market valuation of US$2.8 Bn by the end of 2032.

2: The continuously rising chemical sector in the US coupled with the growing oil and gas sector is expected to drive demand for commercial water storage tanks in the country at a CAGR of 5% over the decade (2022- 2032).

3: The above-ground water storage water tank segment is estimated to be valued at US$1.67 Bn by 2032 and exhibit a CAGR of 5.3% through the decade.

Conclusion

The market for Industrial Water Storage is primarily driven by the global increase in the application of water tanks in construction, agriculture, and other industries which has resulted in the expansion of the water storage sector.

These statistical insights not only provide a snapshot of the current landscape of this industry but also offer guidance for future decision-making and strategic planning.

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