Elevated Water Storage Tanks Market Research Report: By Material (Steel, Concrete, Plastic, Fiberglass), By Capacity (Less than 250,000 Gallons, 250,000-1 Million Gallons, Over 1 Million Gallons), By Application (Municipal Water Supply, Industrial Use, Fire Protection, Agricultural Irrigation), By Shape (Spherical, Cylindrical, Ellipsoidal, Other) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Elevated Water Storage Tanks Market Overview

As per MRFR analysis, the Elevated Water Storage Tanks Market Size was estimated at 1.44 (USD Billion) in 2022. The Elevated Water Storage Tanks Market Industry is expected to grow from 1.48(USD Billion) in 2023 to 2.0 (USD Billion) by 2032. The Elevated Water Storage Tanks Market CAGR (growth rate) is expected to be around 3.37% during the forecast period (2024 - 2032).

Key Elevated Water Storage Tanks Market Trends Highlighted

Key market drivers of elevated water storage tanks include population growth, increasing urbanization, and rising demand for safe and clean water. These factors are driving the need for reliable and efficient water storage solutions, making elevated water storage tanks a crucial component of water infrastructure.

Opportunities for growth in the elevated water storage tanks market include the development of innovative materials and technologies, such as lightweight and corrosion-resistant materials. These advancements can lead to cost-effective and durable tanks. Additionally, the implementation of smart water management systems and remote monitoring can optimize tank performance and reduce operational costs.

Recent trends in the elevated water storage tanks market include a focus on sustainability and environmental consciousness. To address concerns about energy efficiency, manufacturers are developing tanks with enhanced insulation and optimized designs to minimize heat loss. Additionally, there is a growing demand for tanks that can withstand extreme weather conditions, such as earthquakes and hurricanes, to ensure reliable water storage in emergencies.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Elevated Water Storage Tanks Market Drivers

Growing Population and Urbanization

The increasing global population is one of the primary drivers of the elevated water storage tank market. As the number of people on the planet grows, so does the demand for water. In urban areas, where space is often limited, elevated water storage tanks are an efficient way to store and distribute water to residents. Elevated water storage tanks also play a vital role in providing water to remote and rural areas that lack access to a reliable water source.In these areas, elevated water storage tanks can provide a safe and reliable source of water for drinking, sanitation, and other purposes. The growing population and urbanization are expected to continue to drive the demand for elevated water storage tanks in the coming years.

Increasing Demand for Water Infrastructure

The increasing demand for water infrastructure is another major driver of the elevated water storage tank market. As countries develop and their economies grow, they need to invest in their water infrastructure in order to meet the needs of their growing populations. This investment includes the construction of new water treatment plants, pipelines, and water storage facilities. Elevated water storage tanks are an important part of this water infrastructure, as they provide a way to store water and distribute it to consumers.The increasing demand for water infrastructure is expected to continue to drive the demand for elevated water storage tanks in the coming years.

Government Regulations and Standards

Government regulations and standards are also driving the demand for elevated water storage tanks. In many countries, there are regulations that require the installation of elevated water storage tanks in certain types of buildings, such as schools, hospitals, and commercial buildings. These regulations are designed to ensure that there is a reliable supply of water in the event of an emergency, such as a fire or a natural disaster. The increasing number of government regulations and standards is expected to continue to drive the demand for elevated water storage tanks in the coming years.

Elevated Water Storage Tanks Market Segment Insights:

Elevated Water Storage Tanks Market Material Insights  

The Elevated Water Storage Tanks Market is expected to grow significantly in the coming years. The market is segmented by material, with steel, concrete, plastic, and fiberglass being the most common materials used in the construction of elevated water storage tanks. Steel is the most widely used material for elevated water storage tanks due to its strength and durability. Steel tanks are also relatively easy to construct and maintain. However, steel tanks are susceptible to corrosion, which can shorten their lifespan. Concrete is another popular material for elevated water storage tanks.Concrete tanks are strong and durable, and they are also resistant to corrosion. However, concrete tanks are more expensive to construct than steel tanks, and they are also more difficult to maintain. Plastic is a lightweight and inexpensive material that is becoming increasingly popular for the construction of elevated water storage tanks. Plastic tanks are resistant to corrosion and they are easy to maintain. However, plastic tanks are not as strong as steel or concrete tanks, and they are more susceptible to damage from UV rays. Fiberglass is a strong and durable material that is also resistant to corrosion.Fiberglass tanks are also lightweight and easy to maintain. However, fiberglass tanks are more expensive than steel or concrete tanks. The market for elevated water storage tanks is expected to grow significantly in the coming years due to the increasing demand for water storage capacity. The growth of the market is also being driven by the increasing adoption of smart water management systems, which are helping to improve the efficiency of water storage and distribution.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Elevated Water Storage Tanks Market Capacity Insights  

The Capacity segment plays a crucial role in the Elevated Water Storage Tanks Market, influencing market growth and industry dynamics. The market segmentation by Capacity includes three primary categories: Less than 250,000 Gallons: This segment caters to smaller-scale water storage requirements, typically found in residential areas, commercial buildings, and small-scale industrial applications. With a significant market share, this segment offers cost-effective solutions for localized water storage. 250,000-1 Million Gallons: This mid-range segment addresses the needs of medium-sized municipalities, industries, and commercial establishments.These water storage tanks provide ample capacity for various applications, including water distribution, industrial processes, and emergency water reserves. The segment is expected to witness steady growth due to increasing water demand in urban and industrial areas. Over 1 Million Gallons: This segment caters to large-scale water storage requirements, primarily in metropolitan areas, industrial complexes, and water utilities. These massive tanks offer substantial storage capacity for long-term water reserves, ensuring a reliable water supply during periods of peak demand or emergencies.The segment is driven by increasing population growth and the need for sustainable water management solutions.

Elevated Water Storage Tanks Market Application Insights  

The Elevated Water Storage Tanks Market is segmented by application into Municipal Water Supply, Industrial Use, Fire Protection, and Agricultural Irrigation. The Municipal Water Supply segment is expected to hold the largest share of the market in 2023, accounting for over 50% of the global revenue. This is due to the increasing demand for clean and safe drinking water in urban areas. The Industrial Use segment is expected to grow at the highest CAGR during the forecast period, owing to the rising demand for water storage in industries such as manufacturing, mining, and power generation.The Fire Protection segment is expected to account for a significant share of the market, as elevated water storage tanks are essential for providing adequate water pressure for firefighting operations. The Agricultural Irrigation segment is expected to grow at a steady pace, driven by the increasing need for water storage in agricultural areas.

Elevated Water Storage Tanks Market Shape Insights  

The shape segment of the Elevated Water Storage Tanks Market is segmented into Spherical, Cylindrical, Ellipsoidal, and Other. Among these, the Spherical segment is expected to hold the largest market share in 2023, accounting for around 40% of the Elevated Water Storage Tanks Market revenue. The high strength-to-weight ratio and ability to withstand high pressure make spherical tanks ideal for storing large volumes of water. Cylindrical tanks are expected to be the second-largest segment, with a market share of around 30%. They are relatively easy to manufacture and transport, making them a popular choice for various applications.Ellipsoidal tanks offer a balance between spherical and cylindrical tanks, providing good strength and ease of fabrication. The Other segment includes irregularly shaped tanks designed for specific applications, such as rectangular tanks for space-constrained areas. The growth of the Elevated Water Storage Tanks Market is attributed to increasing urbanization, rising demand for clean water, and government initiatives to improve water infrastructure.

Elevated Water Storage Tanks Market Regional Insights  

The Elevated Water Storage Tanks Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023, followed by Europe and APAC. The growth in the North American market is attributed to the increasing demand for water storage solutions in the region due to the growing population and urbanization. The European market is also expected to witness significant growth due to the increasing demand for water storage solutions in the region due to the growing population and urbanization.The APAC market is expected to grow at the highest CAGR during the forecast period due to the increasing demand for water storage solutions in the region due to the growing population and urbanization.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Elevated Water Storage Tanks Market Key Players And Competitive Insights:

Major players in the Elevated Water Storage Tanks Market are constantly striving to gain a competitive edge by introducing innovative products and solutions. They are also focusing on expanding their market reach through strategic acquisitions and partnerships. The Elevated Water Storage Tanks Market industry is witnessing a surge in the number of mergers and acquisitions, as well as collaborations between key players. Leading Elevated Water Storage Tanks Market players are investing heavily in research and development to develop advanced and efficient water storage solutions. This is expected to drive the growth of the Elevated Water Storage Tanks Market in the coming years. The competitive landscape is expected to remain dynamic, with new entrants and existing players vying for a larger market share.Lennartz is a leading provider of water storage solutions worldwide. The company offers a wide range of steel and concrete water tanks, as well as water treatment solutions. It has a strong presence in North America, Europe, and Asia-Pacific. The company focuses on providing customized solutions to meet the specific needs of its customers. Lennartz also emphasizes on sustainability and environmental protection, which aligns with the growing demand for eco-friendly water storage solutions.Another key player in the Elevated Water Storage Tanks Market is Caldwell Tanks. Caldwell Tanks is a leading manufacturer of custom-built water storage tanks and steel structures. The company has a strong presence in North America and Europe. It offers a wide range of water storage solutions, including elevated water tanks, ground storage tanks, and specialty tanks. Caldwell Tanks specializes in providing tailored solutions to meet the specific requirements of its customers. The company has a reputation for high-quality products and excellent customer service.

Key Companies in the Elevated Water Storage Tanks Market Include:

• Larsen Toubro Limited


• Siemens


• BASF


• SaintGobain


• Jindal Steel and Power Limited


• Veolia Environnement


• Ion Exchange


• JSW Steel


• IVRCL Infrastructures Projects Limited


• Tata Projects Limited


• Megha Engineering and Infrastructures Limited


• Suez Environnement


• Thermax


• SPML Infra Limited

Elevated Water Storage Tanks Market Industry Developments

Recent advancements in the Elevated Water Storage Tanks Market include the growing adoption of smart water management systems and the increasing focus on sustainable water infrastructure. For instance, in February 2023, the city of San Francisco announced plans to install smart water meters in all its residential and commercial buildings by 2025. This initiative is expected to improve water conservation efforts and optimize the distribution of water resources. Additionally, governments worldwide are investing in upgrading aging water infrastructure, leading to increased demand for elevated water storage tanks.

Elevated Water Storage Tanks Market Segmentation Insights

• Elevated Water Storage Tanks Market Material Outlook
  
  
  
  • Steel
  
  
  • Concrete
  
  
  • Plastic
  
  
  • Fiberglass
  
  
  
  

• Elevated Water Storage Tanks Market Capacity Outlook
  
  
  
  • Less than 250,000 Gallons
  
  
  • 250,000-1 Million Gallons
  
  
  • Over 1 Million Gallons
  
  
  
  

• Elevated Water Storage Tanks Market Application Outlook
  
  
  
  • Municipal Water Supply
  
  
  • Industrial Use
  
  
  • Fire Protection
  
  
  • Agricultural Irrigation
  
  
  
  

• Elevated Water Storage Tanks Market Shape Outlook
  
  
  
  • Spherical
  
  
  • Cylindrical
  
  
  • Ellipsoidal
  
  
  • Other
  
  
  
  

• Elevated Water Storage Tanks Market Regional Outlook
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa