Plastic Water Storage Systems Market By Application (Rainwater Harvesting, Stormwater Management, Fire Suppression Reserve & Storage, Others) , By End use (Residential, Commercial, Industrial, Municipal) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Plastic Water Storage Systems Market
The plastic water storage systems market was valued at $1.7 billion in 2023 and is projected to reach $2.7 billion by 2033, growing at a CAGR of 4.6% from 2024 to 2033.
A plastic water storage system is a container used for the preservation of water in different settings, including domestic, agricultural, industrial, and commercial. Different types of plastics are utilized for the formation of the storage system such as polyethylene, polypropylene, and polyvinyl chloride. Different varieties of water storage systems include tanks, cisterns, barrels, drums, and troughs. The key advantages of plastic water storage systems include their lightweight property, cost-effectiveness, durability, and easy maintenance.
Rise in concerns pertaining to water scarcity globally has encouraged individuals to conserve water considerably, thereby boosting the demand for plastic water storage systems and propelling the development of the market. Furthermore, the easy installation, cost-effectiveness, and versatile shapes & sizes of water storage systems made from plastic augment the market growth significantly. In addition, these systems are highly durable as they are resistant to corrosion, rust, and UV rays, which act as key drivers of the plastic water storage systems market. A notable trend gaining prominence in the market is the use of recycled plastic to reduce the environmental footprint and align with sustainability goals. Moreover, storage systems developed from biodegradable plastics are acquiring traction among environmentally conscious customers.
However, lack of availability of cutting-edge plastic recycling infrastructure in certain areas results in regulatory pressures and consumer concerns pertaining to environmental safety, restraining the development of the market. Moreover, the ability of some plastics to leach the stored water with harmful chemicals such as bisphenol A or phthalates deters individuals from the usage of plastic water storage systems, restraining the market growth significantly. On the contrary, rapid surge in urbanization is projected to boost the requirement for efficient water storage systems and present lucrative opportunities for the market. According to the statistics of The World Bank—an International financial institution—around two-thirds of the global population is expected to live in urban areas by 2050. Therefore, new avenues are anticipated to open for the plastic water storage systems market in the future.
Segment ReviewThe plastic water storage systems market is segmented into application, end use, and region. On the basis of application, it is divided into rainwater harvesting, stormwater management, fire suppression reserve & storage, and others. Depending on end use, it is classified into residential, commercial, industrial, and municipal. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of application, the rainwater harvesting segment held a high share of the market in 2023.
Depending on end use, the municipal segment dominated the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe major players in the global plastic water storage systems market include Sintex Industries Ltd., Supreme Industries Ltd., National Plastics, Ashirvad Pipes, Vectus Industries Limited, Penguin Tank, Niplast Storage Tanks, Emiliana Serbatoi, Caldwell Tanks, and Plasto Group of Companies. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy ApplicationRainwater Harvesting
Stormwater Management
Fire Suppression Reserve Storage
Others
By End UseResidential
Commercial
Industrial
Municipal
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersSintex Industries Ltd.
Supreme Industries Ltd.
National Plastics
Ashirvad Pipes
Vectus Industries Limited
Penguin Tank
Niplast Storage Tanks
Emiliana Serbatoi
Caldwell Tanks
Plasto Group of Companies.