2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Are the Primary Drivers Supporting the Market Growth of theElevated Water Storage Tanks Market?

The growing construction of commercial accommodation facilities is expected to drive the elevated water storage tanks market. The demand for commercial accommodation is rising due to increased business travel and tourism. Elevated water storage tanks ensure a consistent water supply in commercial accommodations. For instance, in August 2024, Lodging Econometrics reported that 948 new hotels opened globally in the first half of 2024. This expansion in commercial accommodation will propel the elevated water storage tanks market.

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How Will the Growth Rate of theElevated Water Storage Tanks Market Impact Industry Trends by 2034?

The elevated water storage tanks market size will rise from $6.21 billion in 2024 to $6.58 billion in 2025 at a CAGR of 6.0%. Historic growth is attributed to population growth, urbanization, the rise in commercial accommodations, migration, and industrialization.

The elevated water storage tanks market size is expected to grow to $8.22 billion in 2029 at a CAGR of 5.7%. Growth is due to climate change, agricultural support, construction of manufacturing facilities, water scarcity, and increasing disposable income. Key trends include the adoption of green technologies, smart technologies, advanced composite materials, and integration of monitoring systems.

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What Are the Latest Innovations Influencing theElevated Water Storage Tanks Market?

Companies in the water storage tanks market are creating innovative products, such as air ventilation systems on both sides of tank lids, to improve durability and meet the growing demand for reliable water storage. These air ventilation systems in elevated tanks prevent pressure buildup and ensure proper airflow, preserving water quality and structural strength. For example, in January 2022, Prayag, an Indian company, launched a new range of water tanks designed with air ventilation on both sides of the lid to keep water odorless and cool. The tanks are made from high-quality materials for enhanced durability and are available in various sizes and colors.

Who Are the Major Industry Players Accelerating Growth in theElevated Water Storage Tanks Market?

Major companies operating in the elevated water storage tanks market are McDermott, KLM Engineering Inc., Chicago Bridge & Iron Company, J.F. Ahern Co., Caldwell Tanks, CST Industries, Apex NC, Tnemec, Pittsburg Tank & Tower Group, Aquatech International Corp., DN Tanks, Tank Connection, Phoenix Fabricators and Erectors LLC, Balmoral Tanks Ltd., Landmark Structures, Brown-Minneapolis Tank Co., Norwesco Inc., Fiber Technology Corporation, Design Tanks Inc., BUWATEC, RC Plasto Tanks and Pipes Pvt. Ltd., Steelcore tank, Schier Construction Co., Easytanks, Sintex Plastics Technology Limited

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Which Primary Segments of the Elevated Water Storage Tanks Market Are Driving Growth and Industry Transformations?

The elevated water storage tanksmarket covered in this report is segmented –

1) By Type: Steel, Plastic, Fiberglass, Other Types

2) By Installation: Underground, Outdoor, Indoor

3) By Application: Water Supply, Fire Protection, Irrigation, Emergency Water Storage

4) By End-Use: Residential, Commercial, Industrial, Utility

Subsegments:

1) By Steel Tanks: Carbon Steel Tanks, Stainless Steel Tanks, Coated Steel Tanks

2) By Plastic Tanks: High-Density Polyethylene (HDPE) Tanks, Polypropylene Tanks, Reinforced Plastic Tanks

3) By Fiberglass Tanks: Vertical Fiberglass Tanks, Horizontal Fiberglass Tanks, Custom-Shaped Fiberglass Tanks

4) By Other Types: Concrete Tanks, Composite Tanks, Aluminum Tanks

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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theElevated Water Storage Tanks Market?# Market?

Asia-Pacific was the largest region in the elevated water storage tanks market in 2024. The regions covered in the elevated water storage tanks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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