Growing population and rising demand for water to drive India Water Tanks market
According to TechSci Research report, “India Water Tanks Market By Product, By Raw Material, By Water Storage Capacity, By Size, By Application, By Region, Competition, Forecast & Opportunities, 2024” the India Water Tanks market is expected to grow at a steady CAGR during the forecast period owing to the growing industrialization and increasing demand for water. Additionally, the growing concern over the use of conventional water due to lack of drinking water in many areas is further driving the market. Further, increasing urbanization, growing real-estate investments, increasing freshwater withdrawal rates and consumption of water for various domestic, industrial and commercial applications, among others are expected to fuel the growth of the water tanks market. However, the large size of water tanks increases the transportation cost which is likely to hamper the growth of the market during forecast period.
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The India Water Tanks market is segmented based on product, raw material, water storage capacity, size, application, region and company. Based on product, the market can be fragmented into plastic, concrete, metal, fiber glass and others. The fiber glass segment is expected to register significant growth during the forecast period owing to their chemical resistance properties, light weight, low maintenance cost, among others. Based on raw material, the market can be categorized into LLDPE, HDPE, stainless steel, cement and others. The LLDPE segment is expected to register the highest growth during forecast period on account of its flexibility and property of elongation under stress. Based on size, the market can be grouped into cylindrical, rectangular and others. The cylindrical size is expected to dominate the market during the forecast period. This can be accredited to the fact that cylindrical water tanks are able to hold water under pressure since these shapes react to the stresses caused by internal pressures. Since fluid pressure acts in all directions, a round wall shape will see even distribution of pressure, whereas any shape with corners will see concentrations of load due to pressure acting on either side of the corner pushing the two sides apart. Based on application, the market can be segmented into commercial, residential, municipal and industrial. The municipal segment dominates the market since it is responsible for the supply and distribution of drinking water to urban, semi-urban and rural areas. Municipalities have an extensive network of water storage systems to store and distribute water according to the demands of community.
CST Industries, Inc., Sintex Plastics Technology Ltd., Shubham Acqualink (India) Pvt. Ltd., UIG Water Tanks India Pvt Ltd., Joemillars Aquatek India (P) Ltd., Frontier Polymers Pvt. Ltd., Beltechno India Pvt. Ltd., Indraprastha Aqua Solution, Jindal Plast (INDIA), Shree Balaji Polymer and others are some of the leading players operating in India Water Tanks market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“India is one of the largest and fastest growing in the APAC region and is expected to create huge opportunities for the water tanks market owing to the growing population and increasing construction activities. Further, different parts of the country are witnessing significant water scarcity problems, thereby driving the water tanks market. Moreover, the growing oil & gas production activities which require freshwater is further propelling the growth of the market in the country.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Water Tanks Market By Product, By Raw Material, By Water Storage Capacity, By Size, By Application, By Region, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India Water Tanks market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India Water Tanks market.
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