Demand of Global Water Storage Systems Market Share Estimated to Reach USD 34.27 Billion By 2032, at a CAGR of 7.8%: Polaris Market Research
Polaris Market Research has conducted a comprehensive 2023 research study spanning over [+115] pages, revealing that the global water storage systems market was valued at USD 16.25 Billion in 2022. The study predicts that the market will grow at a compound annual growth rate (CAGR) of 7.8% and is expected to reach USD 34.27 Billion By 2032. The fiberglass segment is expected to grow fastest at maximum CAGR during the anticipated period owing to its numerous advantages and beneficial features like light weight and high durability. Some of the top market players are CST Industries, ZCL Composites, McDermott International, Fiber Technology, Containment Solutions, Maguire Iron., Caldwell Tanks, Synder Industries and others.
New York, NY, April 18, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Water Storage Systems Market Share, Size, Trends, Industry Analysis Report, By Material (Steel, Fiberglass, Concrete, Plastic, and Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global water storage systems market size/share is anticipated to be valued at approximately USD 16.25 Billion in 2022 and is projected to hit a revenue of around USD 34.27 Billion By 2032, at a CAGR of around 7.8% between 2023 and 2032.”
How Much Are Water Storage Systems Market Worth? What is the Expected Size & Share of Water Storage Systems Industry?
Report Overview
The water storage systems market involves the manufacturing and distributing of various types of water storage tanks, containers, and reservoirs. These systems store water for different purposes, including agriculture, residential, commercial, and industrial applications. The market is driven by factors such as population growth, increasing urbanization, and the need for water conservation and management.
Water storage systems are designed to capture, store, and distribute water from various sources, such as rivers, lakes, and rainwater. These systems can range from small, household-level storage containers to large-scale reservoirs and dams that can hold millions of gallons of water.
The use of water storage systems has numerous benefits, including providing a reliable source of water during periods of drought or low rainfall, improving water quality by reducing contaminants, and supporting irrigation and other agricultural practices. Additionally, water storage systems can help mitigate the impacts of floods and other extreme weather events by storing excess water and releasing it in a controlled manner.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
2032 Updated Report Introduction, Overview, and In-depth industry analysis.
115+ Pages Research Report (Inclusion of Updated Research).
Provide Chapter-wise guidance on Requests.
2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes Updated List of tables & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
CST Industries
ZCL Composites
McDermott International
Fiber Technology
Containment Solutions
Maguire Iron.
Caldwell Tanks
Synder Industries
DN Tanks
Balmoral Tanks
American Tanks Company
Superior Tank
Preload
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Prominent Drivers of the market
Increasing Global Population: The global population is growing rapidly, particularly in APAC countries like India, China, and Bangladesh. This growth fuels the need for drinking water and water for agriculture, leading to an exponential increase in the demand for water storage systems.
Escalating Water Use in Industrial and Commercial Sectors: With the growth of urbanization and industrialization, water usage is increasing in the industrial and commercial sectors. This increase in demand for water is driving the water storage systems market size.
The emergence of Rainwater Harvesting: The trend of storing rainwater for various domestic and industrial applications is gaining popularity. This trend is expected to boost the demand for water storage systems.
Adoption of Plastic-Based Water Storage Systems: Plastic-based water storage systems are increasing due to their cost effectiveness, durability, and longer life. They are also environment-friendly, which is a prominent factor driving the water storage systems market growth.
Government Initiatives and Regulations: Various governments worldwide are implementing initiatives and regulations to promote sustainable water management practices and ensure access to safe drinking water. These initiatives are expected to drive the growth of the water storage system market.
Top Report Findings
Rise in water consumption within the industrial and commercial sectors, as well as the growing trend of rainwater harvesting.
The market is primarily segmented based on material, application, end-use, and region.
In the last few decades, the water storage systems market in the Asia Pacific region led the market.
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Top Trends Influencing the Market
Increased Demand for Sustainable Water Management Solutions: With the rising concerns about water scarcity and the importance of sustainable water management, the demand for innovative and eco-friendly water storage solutions is increasing.
Technological Advancements: Advancements in technology, such as the use of IoT, AI, and smart water storage systems, are driving the development of more efficient, automated, and cost-effective solutions for water storage and management.
Growing Popularity of Rainwater Harvesting: The popularity of rainwater harvesting is increasing, as it is a cost-effective and sustainable way to meet water demand for various applications.
Adoption of Plastic-based Water Storage Systems: The adoption of plastic-based water storage systems is increasing due to their lightweight, durability, and ease of installation.
Increased Demand from Residential and Commercial Sectors: With the growing urbanization and industrialization, the demand for water storage systems are increasing from both residential and commercial sectors to ensure a steady supply of clean and safe water.
Segmental Analysis
Over the projection period, the fiberglass segment is anticipated to experience the fastest growth
Based on material water storage systems market segmentation, the fiberglass segment is expected to dominate the market. Fiberglass-based structures offer superior mechanical strength and are highly resistant to degradation, driving their adoption in various water storage systems. Additionally, these structures are lightweight, highly durable, and have food-grade coatings, making them a preferred choice for long-term use. As a result, the fiberglass segment is expected to experience significant growth in the coming years.
Onsite water and wastewater collection segment is expected to maintain a significant share
Organic household waste encompasses biowaste, municipal, sewage, agricultural, and other similar categories. With its widespread availability globally, organic household waste has emerged as the market leader, holding the largest share. The biodegradation of organic matter, a crucial natural phenomenon in both land and marine habitats, further underscores the environmental significance of this category.
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Water Storage Systems Market: Report Scope & Coverage
Report Attribute | Details |
Revenue forecast in 2032 | USD 34.27 Billion |
Market size value in 2023 | USD 17.43 Billion |
Expected CAGR Growth | 7.8% from 2023 – 2032 |
Base Year | 2022 |
Forecast Year | 2023 – 2032 |
Top Market Players | CST Industries Inc., ZCL Composites Inc., Synalloy Corporation, AG Growth International Inc., McDermott International Inc., Fiber Technology Corporation, Containment Solutions Inc., Maguire Iron Inc., Caldwell Tanks, Synder Industries, DN Tanks, Balmoral Tanks Limited, American Tanks Company Inc., Superior Tank Co. Inc., and Preload LLC. |
Segments Covered | By Material, By Application, By End-Use, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Asia Pacific: The APAC region has undergone tremendous economic growth and rapid social development in recent decades. Effective water management and human capital enhancement will be critical in the region. The growth and demand for the water storage systems market are likely to be propelled by these factors.
North America: The North American region will grow significantly in the coming years. This is due to the wide utilization of water in countries like the US and Canada for commercial, industrial, irrigation, and residential applications. Additionally, the presence of one of the world's major gas reserves in the US contributes to this growth projection.
Browse the Detail Report “Water Storage Systems Market Share, Size, Trends, Industry Analysis Report, By Material (Steel, Fiberglass, Concrete, Plastic, and Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/water-storage-systems-market
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Recent Developments
Prayag recently released new water tanks in January 2022 that is extra strong, durable, and virtually unbreakable due to implementing the latest Rotomoulding technology, reinforced with strong corners and ribs for additional strength.
TRUFLO also announced the launch of water storage tanks from their Telangana plant in March 2022 to fulfill the demand of the southern market, starting with a production capacity of 45 lakh liters per month, which will increase with growing demand.
Frequently Asked Questions:
What is a water storage system?
What are the key drivers of the market?
Who are the water storage systems market key players?
Which region is expected to dominate the market?
What are the recent developments that took place in the market?
What factors are responsible for the growth of the market?
Polaris Market Research has segmented the water storage systems market report based on material, application, end-use, and region:
By Material Outlook
Steel
Fiberglass
Concrete
Plastic
Others
By Application Outlook
Hydraulic Fracture Storage & Collection
Onsite Water & Wastewater Collection
Portable Water Storage Systems
Rainwater Harvesting & Collection
Others
By End-use Method Outlook
Residential
Commercial
Industrial
Municipal
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research
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