Market Overview:
The global surge tank market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electricity and oil and gas across the globe. Additionally, the growing infrastructure development in emerging economies is also propelling the growth of this market. Based on type, below 1000 gallon tanks held a major share of the global surge tank market in 2017. This segment is projected to grow at a CAGR of 5% from 2018 to 2030 owing to its low installation cost and easy portability.
Product Definition:
A surge tank is a container used to store liquids under pressure. The tank may be mounted above or below the liquid level in the system. When the liquid level reaches a predetermined height, a switch opens and allows the liquid to flow into or out of the surge tank.
Below 1000 gallon:
Below 1000 gallon, it's usage.
Below 1000 gallon, it's usage.
*** The surge tank is a storage container that’s used to store liquids such as oil & water. It has the ability to contain pressure up to 150 pounds per square inch (psi). The basic function of a surge tank is to provide containment for liquid assets during an emergency.
1000-8000 gallon:
The 1000-8000 gallon is a range of water storage containers that are used to store water for industrial and commercial purposes. It can be used as a surge tank in case of fire emergency or any other situation where the normal storage capacity is not enough.
It has an insulated cover, which helps in retaining the temperature of stored liquid even after continuous usage for a long time.
Application Insights:
The oil and gas industry accounted for the largest share in 2016. This is attributed to the growing demand for crude oil from emerging economies such as China, India, Brazil and Mexico. The electricity industry is expected to grow at a significant rate over the forecast period owing to increasing investments in power generation infrastructure across various countries including China, India, Japan and South Korea.
Surge tanks are used by electric utilities for rescheduling or canceling out any abnormal load that may occur on transmission lines during heavy rains or snowstorms that can damage electrical equipment resulting in long-term maintenance costs of Electric Utility Stations (EUs). Other applications include chemical plants along with other industrial facilities such as aluminum smelters and cement kilns where large volumes of water are utilized during processing operations which require surge capacity tanks.
Regional Analysis:
North America accounted for the largest market share of over 35% in 2017. The region is expected to continue its dominance over the forecast period, with U.S. being a major contributor to regional growth owing to increasing demand from end-use industries such as oil and gas, power generation, and others.
Asia Pacific is projected to be one of the fastest-growing regions during the forecast period owing to rising demand from emerging economies including China and India coupled with expanding oil & gas industry in these countries on account of growing energy needs along with rapid industrialization that has resulted in increased requirement for surge capacity across various applications such as refineries, petrochemical complexes, power plants among others. Rising need for continuous electricity supply due to burgeoning population will also drive regional growth further since it would require more electric poles/lines/transformers etc.
Growth Factors:
- Increasing demand for Surge Tank in the automotive industry as a result of the increasing production of passenger cars and commercial vehicles.
- Growing demand for Surge Tank from the oil & gas industry due to increasing exploration and production activities across the globe.
- Rising demand for Surge Tank in power generation sector due to increase in number of power plants being set up across the world.
- Increasing adoption of Surge Tanks by metal processing industries owing to surge in manufacturing activities globally
Scope Of The Report
Report Attributes
Report Details
Report Title
Surge Tank Market Research Report
By Type
Below 1000 gallon, 1000-8000 gallon, Above 8000 gallon
By Application
Oil and Gas Industry, Electricity Industry, Others
By Companies
Alpha Tanks, Squibb Tank, RothLochston, Young Engineering & Manufacturing, TransTech Fabrication, Wheeler Tank Manufacturing, Wiltsie Construction, Steelways, AA Tanks
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
162
Number of Tables & Figures
114
Customization Available
Yes, the report can be customized as per your need.
Global Surge Tank Market Report Segments:
The global Surge Tank market is segmented on the basis of:
Types
Below 1000 gallon, 1000-8000 gallon, Above 8000 gallon
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil and Gas Industry, Electricity Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alpha Tanks
- Squibb Tank
- RothLochston
- Young Engineering & Manufacturing
- TransTech Fabrication
- Wheeler Tank Manufacturing
- Wiltsie Construction
- Steelways
- AA Tanks
Highlights of The Surge Tank Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 1000 gallon
- 1000-8000 gallon
- Above 8000 gallon
- By Application:
- Oil and Gas Industry
- Electricity Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Surge Tank Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A surge tank is a device used to store extra energy in an electrical system in case of an emergency.
Some of the major companies in the surge tank market are Alpha Tanks, Squibb Tank, RothLochston, Young Engineering & Manufacturing, TransTech Fabrication, Wheeler Tank Manufacturing, Wiltsie Construction, Steelways, AA Tanks.
The surge tank market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Surge Tank Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Surge Tank Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Surge Tank Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Surge Tank Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Surge Tank Market Size & Forecast, 2020-2028
4.5.1 Surge Tank Market Size and Y-o-Y Growth
4.5.2 Surge Tank Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Below 1000 gallon
5.2.2 1000-8000 gallon
5.2.3 Above 8000 gallon
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oil and Gas Industry
6.2.2 Electricity Industry
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Surge Tank Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Surge Tank Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Below 1000 gallon
9.6.2 1000-8000 gallon
9.6.3 Above 8000 gallon
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oil and Gas Industry
9.10.2 Electricity Industry
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Below 1000 gallon
10.6.2 1000-8000 gallon
10.6.3 Above 8000 gallon
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oil and Gas Industry
10.10.2 Electricity Industry
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Below 1000 gallon
11.6.2 1000-8000 gallon
11.6.3 Above 8000 gallon
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oil and Gas Industry
11.10.2 Electricity Industry
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Below 1000 gallon
12.6.2 1000-8000 gallon
12.6.3 Above 8000 gallon
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oil and Gas Industry
12.10.2 Electricity Industry
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Below 1000 gallon
13.6.2 1000-8000 gallon
13.6.3 Above 8000 gallon
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oil and Gas Industry
13.10.2 Electricity Industry
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Surge Tank Market: Competitive Dashboard
14.2 Global Surge Tank Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Alpha Tanks
14.3.2 Squibb Tank
14.3.3 RothLochston
14.3.4 Young Engineering & Manufacturing
14.3.5 TransTech Fabrication
14.3.6 Wheeler Tank Manufacturing
14.3.7 Wiltsie Construction
14.3.8 Steelways
14.3.9 AA Tanks
