Expansion is the key Strategy Adopted by Major Players in the North America Water Storage Systems Market

The North America water storage systems market is dominated by players, such as ZCL Composites Inc. (Canada), Synalloy Corporation (U.S.), AG Growth International Inc. (Canada), Chicago Bridge & Iron Company N.V. (The Netherlands), BH Tank, Inc. (U.S.), Caldwell Tanks, Inc. (U.S.), Containment Solutions, Inc. (U.S.), CST Industries, Inc. (U.S.), DN Tanks (U.S.), HMT Inc. (U.S.), Maguire Iron, Inc. (U.S.), Contain Enviro Services Ltd. (Canada), Tank Connection, LLC (U.S.), Roth Industries, Inc. (U.S.), Crom Corporation (U.S.), Snyder Industries, Inc. (U.S.), and others. These companies are considered as leaders in the North America water storage systems market.

Substantial investments have been made in the past few years by key companies, such as AG Growth International Inc. (Canada) and CST Industries, Inc. (U.S.), Synalloy Corporation (U.S.), AG Growth International Inc. (Canada), BH Tank Inc. (U.S.), Caldwell Tanks, Inc. (U.S.), and Snyder Industries, Inc. (U.S.). Key players in the market are majorly focused on research & development of new products for various end-use applications of water storage systems.

New product launches and mergers & acquisitions were the most preferred growth strategies of companies in the water storage systems market. Companies introduced new products to meet the increased demand from customers as well as to strengthen their foothold in the market. For instance, in May 2013, CST Storage, the business segment of CST Industries, announced the launch of a new mobile temporary storage tank. The tank, trade named HydroTec MB, is more reliable and offers a cost-effective method for water storage. The tank also contains LLDPE liner bolted to it, which was previously seen only in biogas storage tanks. In April 2013, Caldwell Tanks, Inc. (U.S.) announced its decision to manufacture wire-wrapped prestressed concrete tanks. Through this product development, the company aims to expand the availability of its products for customers in the water, wastewater, industrial, energy, and process sector. The strategy of mergers & acquisitions has been adopted by Synalloy Corporation (U.S.), AG Growth International Inc. (Canada), BH Tank Inc. (U.S.), Caldwell Tanks, Inc. (U.S.), and Snyder Industries, Inc. (U.S.) between 2012 and 2015.

AG Growth International (Canada) concentrates on various strategies to enhance its position in the North America water storage systems market. The company underwent maximum developments in the past four years, providing water storage systems for various end-use customers. In May 2015, AG Growth acquired the Westeel division of Vicwest, Inc. Westeel is known for its grain storage solutions, and this strategic acquisition will help in building a strong market position for AG Growth, especially in grain handling and storage solutions. Westeel also manufactures various types of water storage systems. Earlier, in September 2012, Westeel had developed a frac tank installation system which allows storage tanks to be built in a single day. It enables site operators to build tanks without the use of cranes, thereby providing safe, quick, and cost-effective solutions.

Synalloy Corporation (U.S.), another major market player in the North America water storage systems market, is also undertaking various growth strategies to expand its business globally. In August 2013, it acquired the U.S.-based Palmer of Texas, which is a manufacturer of steel and fiberglass storage tanks. This acquisition will help Synalloy increase the market share of its metal business segment.

The North America water storage systems market is a competitive market, with players actively participating in various growth strategies to maintain or increase their market shares.