North America Fire Protection Water Storage Tanks Market Share, Size, Growth, Report, Forecast 2024-2032
The ‘North America Fire Protection Water Storage Tanks Market Size, Share, Analysis, Report and Forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the North America fire protection water storage tanks market assessing the market on the basis of its segments like material type, coating type, size, application, and major country.
The key highlights of the report include:
Market Overview (2018-2032)
Forecast CAGR (2024-2032): 12%
Increased risk and prevalence of fires and widespread usage of wood in constructions are leading to a burgeoning demand for the North America fire protection water storage tanks market. The major factors driving the growth of the market include the rising awareness of new fire protection systems and the surging demand from areas with limited availability of water. Furthermore, the significant risk of fires in high-rise buildings is leading to the greater adoption of fire protection water storage tanks. Rising construction activities and improvements in technology are further adding to the growth of the fire protection water storage tanks market in North America.
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Fibreglass material type of fire protection water storage tanks are expected to witness a robust growth in the North America fire protection water storage tanks market owing to their lightweight nature and high mechanical-strength. Meanwhile, the high durability and strength of steel is also forecasted to expand the steel material type of fire protection water storage tanks. Commercial applications of fire protection water storage tanks are expected to positively impact the growth of the market due to the growing capital investments and infrastructural development. Warehouses having high-piled storage and aircraft hangers can be supplied water in case of fire emergencies using fire sprinkler systems connected to these water storage tank.
North America Fire Protection Water Storage Tanks Industry Definition and Major Segments
Fire protection water storage tanks are large tanks that store water which can be used in case of emergency fires. Typically installed on the rooftops or below the roofs of commercial and industrial locations, these tanks supply water to industrial, commercial, and residential areas through hoses or sprinklers and readily available in case of fire emergencies, thus minimising damage to life and property.
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On the basis of material type, the market is segmented into:
- Steel
- Breakup by Type
- Steel Welded
- Steel Bolted
- Fibreglass
- Others
Based on coating type, the market is classified into:
- Epoxy
- Glass-Fused-to-Steel
- Others
On the basis of size, the market is differentiated into:
- <25,000 Gallons
- 25,000-50,000 Gallons
- 50,000-100,000 Gallons
- 100,000-250,000 Gallons
- >250,000 Gallons
Based on application, the North America fire protection water storage tanks market is divided into:
- Commercial
- Breakup by Type
- Large Warehouses
- Shopping Centres
- Hospitals
- Office Buildings
- Others
- Industrial
- Residential
On the basis of country, the market is segmented into:
- United States
- Canada
North America Fire Protection Water Storage Tanks Market Trends
Increasing product innovations are leading to the steady growth of the North America fire protection water storage tanks market. The key market trends propelling the growth of this market include the stringent safety standards of governments in the region and the increasing incidences of fire in North America.
The changing climatic conditions and rising global warming have surged the demand for fire protection systems, which have bolstered the growth of this market. The provision of post-installation services by market players such as tank cleaning, maintenance and decommissioning is accelerating the growth of the North America fire protection water storage tanks market.
The emergence of folding frame tanks and open top onion tanks make it easier to carry, fill, and set up these tanks at remote locations owing to their portable nature. Rising awareness regarding sustainability has surged the demand for construction of green buildings, which use less water and are equipped with fire protection water storage tanks.
Key Market Players
The major players in the North America fire protection water storage tanks market report are Superior Tank Co., Inc., Tank Connection, T.F. Warren Group, CST Industries, National Storage Tank, and Fisher Tank Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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