[342 Pages Report] The surge tanks market is poised to witness a CAGR of 4.2% from 2022 to 2032. Over this projection period, the market share for surge tanks is estimated to reach a net worth of US$ 2.9 Billion by 2032, improving from the current valuation of US$ 1.9 Billion in 2022.
A surge tank is a storage tank or vessel made from stainless steel or epoxy-coated carbon steel material that is used to regulate the flow of liquid in fluctuating pressure situations. Surge tanks are designed to accommodate a wide range of pressure & volume and can easily neutralize the effect to avoid system failures and blowouts. Owing to such advantages, the sales of surge tanks have increased, turning it into a lucrative business around the world.
| Attributes | Details |
|---|---|
| Surge Tanks Market Value in 2022 | US$ 1.9 Billion |
| Surge Tanks Market Value in 2032 | US$ 2.9 Billion |
| Surge Tanks Market CAGR (2022-2032) | 4.2% |
They are also used in oil & gas, chemical and water treatment plants. Within the Chemical Industry, surge tanks are used in two-phase separation operations where longer retention time is required for effective separation. Thus rising investments in water infrastructure development across the globe are also projected to support the surge tanks market growth.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The key trends affecting the sales of surge tanks in the global market:
Surge tanks mainly find applications in hydropower plants where the pressure of water must be maintained to ensure proper functioning of turbines and to minimise the hammering effect caused due to fluctuations in water flow. The demand for surge tanks is being driven by increasing demand from power & energy applications, especially due to new hydro power plants coming up in developed as well as developing regions.
In Europe, EU-5 countries are expected to hold a significant share of the market over the forecast period. Moreover, recovery of oil & gas industry coupled with increasing infrastructural developments in GCC countries, Brazil and Mexico will help boost the demand for surge tanks over the forecast period.
Apart from this, the high repair and maintenance cost of regular and coated surge tanks will also affect market growth.
As per the surge tanks market analysis report prepared by FMI, with an overall share of 16.5%, the North America region acquires the second position in the top order and is expected to register a healthy CAGR over the forecast period.
North America and Europe are the major markets for surge tanks. In North America, the U.S. is expected to dominate the market owing to increasing investments in water infrastructure and significant growth of the oil & gas industry owing to shale gas exploration. The North America market for surge tanks is expected to continue its significant growth trajectory over the forecast period.
Principal Consultant
The global surge tank market in the Asia Pacific region, with a contribution of about 19.8%, is the dominating region.
In APAC, the prompt growth of end-use industries, such as oil & gas, chemicals and power & energy industry - where surge tanks are frequently used - will help drive the market over the forecast period. Moreover, high investments in developing water infrastructure and setting up new hydropower plants in developing countries, such as China and India, in turn, are anticipated to boost the demand for surge tanks over the forecast period.
With the presence of a few giant players in the sales of surge tanks to the highly specialized application industries, the market has been quite consolidated until the present years. However, several private players dealing in other heavy equipment and machinery manufacturing have entered the market identifying the growth potential. Such newcomers are heavily relying on their pre-existing partnerships and market orientation to carve a profitable business out of it.
Recent Developments in the Global Surge Tanks Market
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2022 to 2032. |
| Base year for Estimation | 2022 |
| Historical Data Available for | 2016-2021 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis. |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization | Available upon Request |
The surge tanks market is anticipated to register a CAGR of 4.2% through 2032.
The surge tanks market is estimated around US$ 1.9 Billion in 2022.
The surge tanks market is poised to be valued at US$ 2.9 Billion by 2032.
The Asia Pacific region captures a share of 19.8% of the surge tanks market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Surge Tanks Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Capacity 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Capacity, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Capacity, 2022-2032 5.3.1. Below 1000 Gallon 5.3.2. 1000-8000 Gallon 5.3.3. Above 8000 Gallon 5.4. Y-o-Y Growth Trend Analysis By Capacity, 2017-2021 5.5. Absolute $ Opportunity Analysis By Capacity, 2022-2032 6. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Construction Material 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Construction Material, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Construction Material, 2022-2032 6.3.1. Stainless Steel 6.3.2. Coated Carbon Steel 6.3.3. Others 6.4. Y-o-Y Growth Trend Analysis By Construction Material, 2017-2021 6.5. Absolute $ Opportunity Analysis By Construction Material, 2022-2032 7. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Pressure Capacity 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Pressure Capacity, 2017-2021 7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Pressure Capacity, 2022-2032 7.3.1. Below 350 psi 7.3.2. 350 – 500 psi 7.3.3. Above 500 psi 7.4. Y-o-Y Growth Trend Analysis By Pressure Capacity, 2017-2021 7.5. Absolute $ Opportunity Analysis By Pressure Capacity, 2022-2032 8. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Type 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Type, 2017-2021 8.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Type, 2022-2032 8.3.1. Simple Surge Tanks 8.3.2. Gallery Type Surge Tanks 8.3.3. Inclined Surge Tanks 8.4. Y-o-Y Growth Trend Analysis By Type, 2017-2021 8.5. Absolute $ Opportunity Analysis By Type, 2022-2032 9. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Application 9.1. Introduction / Key Findings 9.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application, 2017-2021 9.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application, 2022-2032 9.3.1. Hydropower Electricity 9.3.2. Industrial Use 9.3.3. Water Transportation & Distribution Network 9.3.4. Oil & Gas 9.3.5. Others 9.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021 9.5. Absolute $ Opportunity Analysis By Application, 2022-2032 10. Global Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Region 10.1. Introduction 10.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021 10.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. Asia Pacific 10.3.5. MEA 10.4. Market Attractiveness Analysis By Region 11. North America Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. U.S. 11.2.1.2. Canada 11.2.2. By Capacity 11.2.3. By Construction Material 11.2.4. By Pressure Capacity 11.2.5. By Type 11.2.6. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Capacity 11.3.3. By Construction Material 11.3.4. By Pressure Capacity 11.3.5. By Type 11.3.6. By Application 11.4. Key Takeaways 12. Latin America Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. Brazil 12.2.1.2. Mexico 12.2.1.3. Rest of Latin America 12.2.2. By Capacity 12.2.3. By Construction Material 12.2.4. By Pressure Capacity 12.2.5. By Type 12.2.6. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Capacity 12.3.3. By Construction Material 12.3.4. By Pressure Capacity 12.3.5. By Type 12.3.6. By Application 12.4. Key Takeaways 13. Europe Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. Germany 13.2.1.2. U.K. 13.2.1.3. France 13.2.1.4. Spain 13.2.1.5. Italy 13.2.1.6. Rest of Europe 13.2.2. By Capacity 13.2.3. By Construction Material 13.2.4. By Pressure Capacity 13.2.5. By Type 13.2.6. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Capacity 13.3.3. By Construction Material 13.3.4. By Pressure Capacity 13.3.5. By Type 13.3.6. By Application 13.4. Key Takeaways 14. Asia Pacific Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country 14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.1.4. Malaysia 14.2.1.5. Singapore 14.2.1.6. Australia 14.2.1.7. New Zealand 14.2.1.8. Rest of APAC 14.2.2. By Capacity 14.2.3. By Construction Material 14.2.4. By Pressure Capacity 14.2.5. By Type 14.2.6. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Capacity 14.3.3. By Construction Material 14.3.4. By Pressure Capacity 14.3.5. By Type 14.3.6. By Application 14.4. Key Takeaways 15. MEA Surge Tanks Market Analysis 2017-2021 and Forecast 2022-2032, By Country 15.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 15.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Capacity 15.2.3. By Construction Material 15.2.4. By Pressure Capacity 15.2.5. By Type 15.2.6. By Application 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Capacity 15.3.3. By Construction Material 15.3.4. By Pressure Capacity 15.3.5. By Type 15.3.6. By Application 15.4. Key Takeaways 16. Key Countries Surge Tanks Market Analysis 16.1. U.S. 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2021 16.1.2.1. By Capacity 16.1.2.2. By Construction Material 16.1.2.3. By Pressure Capacity 16.1.2.4. By Type 16.1.2.5. By Application 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2021 16.2.2.1. By Capacity 16.2.2.2. By Construction Material 16.2.2.3. By Pressure Capacity 16.2.2.4. By Type 16.2.2.5. By Application 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2021 16.3.2.1. By Capacity 16.3.2.2. By Construction Material 16.3.2.3. By Pressure Capacity 16.3.2.4. By Type 16.3.2.5. By Application 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2021 16.4.2.1. By Capacity 16.4.2.2. By Construction Material 16.4.2.3. By Pressure Capacity 16.4.2.4. By Type 16.4.2.5. By Application 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2021 16.5.2.1. By Capacity 16.5.2.2. By Construction Material 16.5.2.3. By Pressure Capacity 16.5.2.4. By Type 16.5.2.5. By Application 16.6. U.K. 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2021 16.6.2.1. By Capacity 16.6.2.2. By Construction Material 16.6.2.3. By Pressure Capacity 16.6.2.4. By Type 16.6.2.5. By Application 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2021 16.7.2.1. By Capacity 16.7.2.2. By Construction Material 16.7.2.3. By Pressure Capacity 16.7.2.4. By Type 16.7.2.5. By Application 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2021 16.8.2.1. By Capacity 16.8.2.2. By Construction Material 16.8.2.3. By Pressure Capacity 16.8.2.4. By Type 16.8.2.5. By Application 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2021 16.9.2.1. By Capacity 16.9.2.2. By Construction Material 16.9.2.3. By Pressure Capacity 16.9.2.4. By Type 16.9.2.5. By Application 16.10. China 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2021 16.10.2.1. By Capacity 16.10.2.2. By Construction Material 16.10.2.3. By Pressure Capacity 16.10.2.4. By Type 16.10.2.5. By Application 16.11. Japan 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2021 16.11.2.1. By Capacity 16.11.2.2. By Construction Material 16.11.2.3. By Pressure Capacity 16.11.2.4. By Type 16.11.2.5. By Application 16.12. South Korea 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2021 16.12.2.1. By Capacity 16.12.2.2. By Construction Material 16.12.2.3. By Pressure Capacity 16.12.2.4. By Type 16.12.2.5. By Application 16.13. Malaysia 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2021 16.13.2.1. By Capacity 16.13.2.2. By Construction Material 16.13.2.3. By Pressure Capacity 16.13.2.4. By Type 16.13.2.5. By Application 16.14. Singapore 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2021 16.14.2.1. By Capacity 16.14.2.2. By Construction Material 16.14.2.3. By Pressure Capacity 16.14.2.4. By Type 16.14.2.5. By Application 16.15. Australia 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2021 16.15.2.1. By Capacity 16.15.2.2. By Construction Material 16.15.2.3. By Pressure Capacity 16.15.2.4. By Type 16.15.2.5. By Application 16.16. New Zealand 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2021 16.16.2.1. By Capacity 16.16.2.2. By Construction Material 16.16.2.3. By Pressure Capacity 16.16.2.4. By Type 16.16.2.5. By Application 16.17. GCC Countries 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2021 16.17.2.1. By Capacity 16.17.2.2. By Construction Material 16.17.2.3. By Pressure Capacity 16.17.2.4. By Type 16.17.2.5. By Application 16.18. South Africa 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2021 16.18.2.1. By Capacity 16.18.2.2. By Construction Material 16.18.2.3. By Pressure Capacity 16.18.2.4. By Type 16.18.2.5. By Application 16.19. Israel 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2021 16.19.2.1. By Capacity 16.19.2.2. By Construction Material 16.19.2.3. By Pressure Capacity 16.19.2.4. By Type 16.19.2.5. By Application 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Capacity 17.3.3. By Construction Material 17.3.4. By Pressure Capacity 17.3.5. By Type 17.3.6. By Application 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. NM Group Global LLC (NMGG) 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. TransTech Fabrication, LLC 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. Alpha Tanks Limited 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. FAB-TECH Works & Constructions Pvt. Ltd. 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. Squibb Tank Company, Inc 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Wheeler Tank Manufacturing, Inc. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. RothLochston 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 18.1.8. Wiltsie Construction Co., Inc. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.8.5.2. Product Strategy 18.1.8.5.3. Channel Strategy 18.1.9. Young Engineering & Manufacturing Inc. 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.9.5.2. Product Strategy 18.1.9.5.3. Channel Strategy 18.1.10. Steelways, Inc. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.10.5.2. Product Strategy 18.1.10.5.3. Channel Strategy 18.1.11. Oilwell ME 18.1.11.1. Overview 18.1.11.2. Product Portfolio 18.1.11.3. Profitability by Market Segments 18.1.11.4. Sales Footprint 18.1.11.5. Strategy Overview 18.1.11.5.1. Marketing Strategy 18.1.11.5.2. Product Strategy 18.1.11.5.3. Channel Strategy 18.1.12. AA Tanks Co 18.1.12.1. Overview 18.1.12.2. Product Portfolio 18.1.12.3. Profitability by Market Segments 18.1.12.4. Sales Footprint 18.1.12.5. Strategy Overview 18.1.12.5.1. Marketing Strategy 18.1.12.5.2. Product Strategy 18.1.12.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Industrial Automation Insights
View Reports
Surge Tanks Market
