According to the latest report by IMARC Group, titled, “Water Storage Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global water storage systems market is expected to exhibit a CAGR of 5.7% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
A water storage system holds excess water and makes it available during low supply or shortages. It is primarily used in distant areas that do not have easy access to drinkable water resources. Water storage system is available in different shapes and sizes, ranging from rain barrels and water tanks to industrial reservoirs. Amongst these, water tanks are extensively used for agriculture and domestic and purposes. They help minimize the risk of algae formation, lowers the need for chlorine treatment and reduces the overall maintenance costs.
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Water Storage Systems Market Trends and Drivers:
The growing demand for agricultural food products, along with the rising awareness about water conservation, is positively influencing the adoption of water storage systems. They are widely utilized in the agriculture sector for reducing erosion, improving crop productivity and watering livestock. Additionally, as water storage systems provide secure access to water with reliable storage, they are increasingly being used in fire suppression water tanks and in mining activities. Other significant uses of large capacity water storage systems include energy generation for industrial and commercial sectors. Furthermore, several leading manufacturers are introducing water storage systems that resist water-borne chemicals and extreme environmental conditions like temperature and seismic loads, which are anticipated to escalate the demand for these systems in the residential spaces in the coming years.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- AG Growth International Inc.
- Aqua Nishihara Corporation Limited
- Balmoral Group Holdings Ltd.
- Caldwell Tanks Inc.
- Containment Solutions Inc. (National Oilwell Varco- NOV)
- CST Industries Inc.
- Dn Tanks Inc.
- Fiber Technology Corporation
- McDermott International Inc.
- Sintex Plastics Technology Ltd.
- Snyder Industries LLC
- Tank Connection L.L.C.
Water Storage Systems Market Report 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on material, application and end user.
Breakup by Material:
- Concrete
- Metal
- Plastic
- Fiberglass
- Others
Breakup by Application:
- Rainwater Harvesting and Collection
- Fire Suppression Reserve and Storage
- Portable Water Storage Systems
- On-Site Water and Wastewater Collection
- Hydraulic Fracture Storage and Collection
- Others
Breakup by End User:
- Municipal
- Industrial
- Commercial
- Residential
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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