Report Description

India water tanks 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 such as rising construction activities, increasing focus on wastewater management, and growing demand for plastic water tanks.

A water tank is a container used for storing water for many applications such as agriculture farming, drinking purpose, fire suppression, food preparation, and chemical manufacturing. Moreover, water tanks are available in many shapes and sizes. They can be cylindrical, rectangular, underground and potable, and can be made from plastic, steel, fiberglass, stone, or concrete. Water tank leakage and corrosion as well as bacterial growth are threats to the tank.

Rising Construction Activities

The major sectors that fall under the Indian construction industry are residential, commercial, industrial, infrastructure construction, and institutional construction. All these sectors seem to have grown during the forecast period owing to the factors such as the Indian government's focus on the development of infrastructure construction through focused policies, including open FDI norms, large budget allocation, and the smart city mission. Hence, with the growing construction activities, the demand for water tanks is also increasing because water tank is the major product that is used during and after the construction for many purposes, including drinking water, harvesting rainwater, storing stock water for later use, and providing additional water sources for plumbing apart from the water main.

Other Major Investments/Policies in the Construction Industry Introduced by the Indian Government

  • The FDI cap for real estate projects in special economic zones (SEZs) has raised to 100%.
  • It is anticipated that the real estate market in India will generate USD 1 trillion in revenue by 2030 and make up 13% of the country's GDP by 2025.
  • The mission of smart cities is to advance urban areas that offer basic services, fair living conditions for residents, a healthy environment, and the use of smart technologies.

Increasing Focus on Wastewater Management

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. The issue is exacerbated by a lack of access to safe drinking water, insufficient sanitary infrastructure, ineffective management of urban resources, and a lack of knowledge about water conservation. To address this issue, the Indian government is improving water infrastructure (groundwater wells, dams, storage tanks, pipelines, etc.), which will not only help to minimize the amount of clean water squandered but also the number of people who are continually looking for clean water on a daily basis. In addition, the government implements on-site systems under Urban Wastewater Management (UWM) to collect sludge, water tanks, and wastewater near the toilet in a pit. As a result of the growing wastewater management operations taking place all throughout the country, the need for water tanks is anticipated to rise in the near future.

Major Wastewater Management Initiatives/Schemes/Goals

Sustainable Development Goals (SDG) target 6.3 is focused on wastewater, which aims to halve the proportion of untreated wastewater discharged into the water bodies and substantially increase recycling and safe reuse globally.

In October 2021, under the Swachh Bharat Mission (Urban) 2.0, INR15883 crore (USD 193.47) was allocated to States/UTs for wastewater/used water management, including the setting up of STPs and FSTPs (fecal sludge treatment plants).

Rising Demand for Plastic Water Tanks

Plastic water tanks are replacing steel, aluminum, and wooden tanks because they are lightweight, non-corrosive, have a high burst strength, and have a low initial cost. Plastic tanks are increasingly being used in housing, oil industries, chemical industries producing acids, alkalies, and other chemicals, and gas producing industries, where they are filled under high pressure. Moreover, as water supply tanks are used for domestic purpose in the residential sector due to which, they are found in every modern home, flat, and building. Every house built today has water storage tanks. Plastic tanks are the best option. The consumption of plastic water tanks is linked with housing development. Thus, there exist ever-increasing demand for plastic water tanks commensurate with the development of housing both in rural and urban areas and in industries.