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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.