Global Elevated Water Storage Tanks Market: Overview
Elevated tanks are used to supply water to a larger number of people. These tanks do not require electricity to generate pressure for the continuous operation of pumps. Pressure in these tanks is maintained by gravity. These tanks are strategically located to equalize water pressure in the distribution system. However, in some elevated tanks, maintaining precise pressure is difficult.
Pressure of the water flow, with which water comes out of an elevated tank, depends on the depth of water in the tank. The tank that is nearly empty would probably not provide enough pressure, while the tank that is completely full may provide excessive pressure. The optimal pressure in an elevated tank is attained at a particular depth. Elevated water storage tanks can be of two types: tanks elevated on legs and tanks elevated on a standpipe. A standpipe offers continual and highly unequal pressures, which depends on its length. Additionally, a significant quantity of water is required in a standpipe to produce the subsequent water pressure. The water below a specific level is used only as a support. This water can be distributed with the help of pumps in an emergency situation only. Tanks that are elevated on legs do not have these drawbacks. They generate higher pressure and the pressure is more constant. This makes them a preferred choice over standpipes. Tanks that are elevated on legs are expensive and they are used only where the demand for water is high.
Rise in the demand for elevated water storage tanks in municipal applications and extensive use of these tanks in industrial applications are factors augmenting the elevated water storage tanks market. This is prompting companies to increase production of these tanks. Additionally, increasing rate of urbanization in developing countries is anticipated to drive the global market for elevated water storage tanks during the forecast period.
The global elevated water storage tanks market is witnessing technological advancements. Companies are constantly striving to develop new and better ways to manufacture these tanks. Development of new manufacturing technologies of elevated water storage tanks and applications is estimated to propel the market in the near future. However, volatility in prices of raw materials is projected to hamper the market during the forecast period.
Global Elevated Water Storage Tanks Market: Key Segments
Based on application, the elevated water storage tanks market can be divided into industrial, commercial, and municipal. The industrial segment dominates the market, owing to extensive use of elevated water storage tanks in different manufacturing plants in developing economies such as India and China.
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Based on geography, the global elevated water storage tanks market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the global market during the forecast period. The elevated water storage tanks market in Asia Pacific is estimated to expand at a significant pace during the forecast period, owing to rise in the demand for elevated water storage tanks in the industrial sector in the region. Middle East & Africa is likely to be an attractive market for elevated water storage tanks during the forecast period, due to increase in the demand for these tanks in commercial applications in the region.
Global Elevated Water Storage Tanks Market: Key Players
Prominent players operating in the global elevated water storage tanks market include McDermott International, Inc., Tank Connection Affiliate Group, Landmark Structures, and Bulldog Steel Products, Inc.