Increasing Rate of Urbanization to Drive the Elevated Water Storage Tanks Market
Added: (Wed Jan 16 2019)
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Transparency Market Research (TMR) provides key insights on the elevated water storage tanks market in its latest report titled “Elevated Water Storage Tanks Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, increasing rate of urbanization in developing countries is predicted to drive the elevated water storage tanks market during the forecast period. Furthermore, 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.
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.
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The report has segmented the global elevated water storage tanks market based on application and region. In terms of application, the elevated water storage tanks market is split 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.
On the basis of geographical perspective, the global elevated water storage tanks market is divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Among these, Asia Pacific is predicted to constitute a key share of the global market during the forecast period. The elevated water storage tanks market in Asia Pacific is projected to grow 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.
Prominent players operating in the global elevated water storage tanks market are included in this report to give a better competitive analysis of the market and these are McDermott International, Inc., Tank Connection Affiliate Group, Landmark Structures, and Bulldog Steel Products, Inc.
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