People’s choice drives water tank market

Safe water is a basic need in today’s pollution-prone environment, and much the same when it comes to storage of the indispensible substance.

Installing an easy-to-handle water reservoir is the order of the day that draws the attention of everyone.

In line with the growing sophistication and urbanisation, the very many uses of plastic water tanks are on the rise, thereby leading to a surge in demand as well as in growth.

The local market for plastic water tanker is growing at a steady pace over the years buoyed by the increasing real estate development that has got underway.

According to the market insiders, although there is no official data, it is estimated that the market size for water-storage tanker made of plastic is around Tk 600 crore to Tk 700 crore.

Increasing construction activities, aging water infrastructure and need for convenient storage solutions, among others, are some key factors driving the market.

A retired bank official Mohiuddin Mridha said he bought a 1,000-litre plastic water tank at Tk 7000 for his building in Mugda’s Manda area of the capital.

Like Mohiuddin many a city landlords is using plastic containers to hold water instead of cemented ones traditionally found on rooftops for their portable and easy-to-clean benefits.

Taking to a myriad of users, it was learnt that these tankers are widely used for their easy-storage benefits regardless of places. Even people in villages are now turning to such tanks for holding water.

The tanks market is segmented based on their quality, storage capacity, size, applications, region and company, and it can be classified into commercial, residential, municipal and industrial based on their applications.

Sources said the 1000-5000-litre segment registers a significant growth because of their widespread use for residential purposes.

The major players operating in local market include Gazi tank, Boss plastic water tank, Samrate water tank, Padma tank, Madina tank, RFL, etc.

Kamrul Hasan, proprietor of Ali Traders in old Dhaka, told The Business Post there are different brands and sizes of water tanks in the market; of them, Gazi, RFL and Madina are the top market players.

He argued that the manufacturers also retail their products, thus drawing the attention of customers to their showrooms.

In the context of Bangladesh, the buyers’ tendency is such that they would prefer buying products from showrooms or dealers even at a higher price, said Kamrul.

A senior official of Gazi Group said the market size of overall plastic water tanks is around Tk 600 to 700 crore. However, its demand was somewhat down due to the pandemic that brought construction work to a halt.

The leading tank maker produces plastic tank with capacity ranging from 500 litres to 10,000 litres. There is a standard price in the market and everyone goes by it. The pricing varies with tank’s size and quantity and also from company to company.

Shahil Hosain, general manager of Shahnoor Agencies located on Dhaka’s North South Road, said although the market witnessed significant growth; the raging pandemic brought it down.

“Our average sale ranges from 80,000 litres to 100,000 litres per month. The price per litre varies from Tk 6.50 to Tk 7.20,” Shahil pointed out.

The city’s Nawabpur businessman Rafiqul Islam said their business has slowed down recently because of intermittent lockdown that virtually stopped construction work.

“Our business has shrunk by 20-30 per cent. However, there is a growing demand for it in the market,” he explained.

Nasir Uddin, assistant general manager, Madina Tank, told The Business the growth of plastic tank market has almost doubled in the last five years.

“The demand is increasing day by day on the outskirts of the capital. Generally, 500-litre to 1000-litre water tanks are of high demand there,” added Nasir.

“We make quality tank and so we are top in the market.”

Meanwhile, Kamruzzaman Kamal, marketing director of Pran RFL Group, opined that every year 10 to 15 per cent growth is happening.

“The demand has increased in the last five years. People are using plastic tankers more and more for easy-to-handle and easy-to-clean opportunities,” he maintained.

“We make 500-litre to 10,000-litre water tanks and do not export overseas. We are meeting the local demand substantially.”