India Water Tanks Market to Grow at Steady Pace During Forecast Period
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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