The Global Water Storage Tank Market

1
The Global water Storage Tank Market is expected
to touch USD 16.8 billion by 2027, at a CAGR of
3.8 during the forecast period
2
Storage Tank is a vessel that holds liquids,
compressed gases (gas tank), or a medium used for
short- or long-term heat or cold storage. Storage
tanks are often cylindrical and perpendicular to
the ground with flat bases and fixed or floating
roofs. There are usually many environmental
specifications followed while designing storage
tanks and using the same during operations.   The
specifications vary with the nature of the fluid
contained in them. Aboveground Storage Tanks
(AST) differ from Underground storage tanks (UST)
in the types of specifications followed. Rapid
population growth has led to magnified drinking
water demand in urban and rural areas as well as
nationwide enterprises and utilities. In some
regions, people face water scarcity for many
reasons and tend to store water for regular
usage. They provide a lucrative opportunity for
this market. The surge in water consumption by
the industrial and commercial sectors has also
stimulated the appeal of water storage tanks.
Growing oil and gas examination activities
worldwide have contributed significantly to the
rising demand for water storage systems. It has
influenced the global market for storage tanks.
3

• Oil and gas industry is playing a significant
  role in the growth of Water Storage Tank Market
•  
• In terms of application, the storage tank market
  can be classified as commercial, residential,
  municipal, and industrial. In terms of
  application, the worldwide market for water
  storage systems has noticed a significant number
  of requests from the oil and gas industry. It
  needs a large quantity of water in its hydraulic
  fracturing process. The water tanks are used to
  store clean water as well as contaminated water.
  The water effluence is stored and treated before
  discharging it into the environment. The surge in
  oil and gas exploration activities has advanced
  the requests for the water storage system. Apart
  from this, water storage tanks are used in
  several end-use industries such as the
  commercial, residential, municipal, and
  industrial sectors. The municipal sector is the
  foremost end-use sector in the market as it is
  responsible for meeting the demand for water with
  an adequate supply of drinking water in urban,
  semi-urban, and rural areas. Municipalities have
  an extensive network of water storage systems to
  store and allocate water according to community
  needs.
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