Global Water Storage Systems Market Size study & Forecast, by Material (Steel, Fiberglass, Concrete, Plastic, Others) by Application (Hydraulic fracture storage & collection, Onsite water & wastewater collection, Potable water storage systems, Fire suppre

Global Water Storage Systems Market Size study & Forecast, by Material (Steel, Fiberglass, Concrete, Plastic, Others) by Application (Hydraulic fracture storage & collection, Onsite water & wastewater collection, Potable water storage systems, Fire suppression reserve & storage, Rainwater harvesting & collection, Others), by End Use (Residential, Commercial, Industrial, Municipal) and Regional Analysis, 2023-2030

Global Water Storage Systems Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Water storage system is a structure or container designed to store and manage water for various purposes. These systems are crucial for addressing water scarcity, ensuring a reliable water supply and managing water resources efficiently. Water storage can take place at different scales, ranging from small household containers to large reservoirs and tanks for municipal or industrial use. The key factors driving the market growth are rapidly increasing population, limited availability of water, increased construction activities and growing concerns about water scarcity, coupled with the unpredictable effects of climate change that anticipated to support the market growth during forecast period 2023-2030.

Additionally, the global population is increasing, and urbanization is on the rise. This leads to a higher demand for water, both for residential and industrial purposes, driving the need for efficient water storage solutions. According to Statista, in 2017, the total population word wide was 7.58 billion inhabitants and in 2022 the population reached 7.95 billion inhabitants. As a result, the rapidly growing population is anticipated to support the market growth. Moreover, the increasing awareness of water management, and innovations in water storage technologies that is anticipated to create the lucrative opportunity for the market during forecast period. However, the fluctuation in raw material prices and high initial investment stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Water Storage Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the increasing water scarcity and drought conditions, government initiatives and regulations and infrastructure development projects, including water storage facilities, investments from both public and private sectors. Whereas, the Asia Pacific is expected to grow at fastest growth rate during the forecast period, owing to factors such as the urbanization and industrialization, government initiatives and investments, and increasing awareness about water quality and the need for safe and reliable water storage solutions contribute to market growth.

Major market player included in this report are:
CST Industries Inc. (US)
ZCL Composites Inc. (Canada)
Synalloy Corporation (US)
AG Growth International Inc. (Canada)
McDermott International Inc. (US)
BH Tank (US)
Fiber Technology Corporation (US)
Caldwell Tanks (US)
Containment Solutions Inc. (US)
Maguire Iron Inc. (US)

Recent Developments in the Market:
 In July 2021, CST Industries, Inc. (CST) announced the strategic territory expansion with Adams Brothers, Inc. Adam Brothers is based in Atlanta, Georgia, specializing in process equipment to the dry bulk industry. The company has been representing CST's iconic industry-leading epoxy coated bolted and welded storage solutions, TecTank (formerly known as Peabody TecTank and Columbian TecTank), for over six decades. Under this new agreement, Adams Brothers will be responsible for an additional two states in the eastern region of the US, Virginia and North Carolina. Its offerings in the new territory will include construction services.

Global Water Storage Systems Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Material, Application, End Use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Material:
Steel
Fiberglass
Concrete
Plastic
Others
By Application:
Hydraulic fracture storage & collection
Onsite water & wastewater collection
Potable water storage systems
Fire suppression reserve & storage
Rainwater harvesting & collection
Others
By End Use:
Residential
Commercial
Industrial
Municipal

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned

CST Industries Inc. (US)
ZCL Composites Inc. (Canada)
Synalloy Corporation (US)
AG Growth International Inc. (Canada)
McDermott International Inc. (US)
BH Tank (US)
Fiber Technology Corporation (US)
Caldwell Tanks (US)
Containment Solutions Inc. (US)
Maguire Iron Inc. (US)

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