According to the latest report by IMARC Group, titled, “Water Storage Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global water storage systems market size reached US$ 16.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.
Water storage systems are used to store water for municipal, industrial, commercial, and residential applications. They are made of various materials, such as concrete, metal, plastic, and fiberglass. They help in reducing the negative impact on the environment by conserving water and minimizing the strain on the water supply. Moreover, they facilitate a continuous supply of water and the added convenience increases property value. At present, water storage systems are widely used in rainwater harvesting and collection, fire suppression reserve and storage, portable water storage systems, on-site water and wastewater collection, and hydraulic fracture storage and supply across the globe.
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Water Storage Systems Market Trends and Drivers:
The growing global population, increasing industrialization, and rising oil and gas activities are among the key factors catalyzing the demand for water storage across the globe. In line with this, a significant decrease in rainfall is impelling governments of various countries to recognize water scarcity as a major issue. This, in confluence with the increasing consumer awareness about the necessity of water conservation, is propelling the market. Moreover, the growing adoption of water storage systems in agriculture for groundwater replenishment in drought-prone areas, which otherwise depend on well-irrigation, is driving the market around the world. Furthermore, the easy availability and affordability of water storage systems are creating a favorable market outlook worldwide.
Water Storage Systems Market Report 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
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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.
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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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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