The report “Water Storage Systems Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth. The report describes Water Storage Systems Market size, historical trends, industry advancements, segmentation analysis, new opportunities, factors controlling the market, and developments. The report analysts have provided a detailed Water Storage Systems Market segmentation assessment of the market based on type, application, and geography. Client needs with an understanding of market capacities are ensured in this analytical study.
According to the research report, the global water storage systems market was valued at USD 16.25 billion in 2022 and is expected to reach USD 34.27 billion by 2032, to grow at a CAGR of 7.8% during the forecast period.
The surging expansion of variety of government favorable initiatives regarding the water conservation and clean water consumptions globally along with the increasing number of commercial buildings and residential sector growth that boosts the demand for fresh drinking water, which in turn propelling the growth of the global market exponentially.
In addition, to improve and rehabilitate the existing water storage systems many key market companies are investing heavily and introducing new products in the market with innovated features and functions, which is likely to create lucrative growth opportunities for the market.
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Top Key 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.
- Preload LLC.
The growing dependence on the variety of agricultural food products worldwide, with the rising awareness regarding the use of innovated storage systems in agriculture sector for reducing erosion, improvement in crop yields, production reliability, and watering livestock is gaining high traction and influencing the market growth.
In addition, as these kinds of systems provide secure and safe access to water with reliable storage, they are being widely utilized in fire suppression and in the mining industry for variety of water related purposes.
Water Storage Systems Market Report Highlights
- 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
- Onsite water and wastewater segment is anticipated to account for substantial market share on account growing incidence of various waterborne diseases and increase in the demand for clean water
- Municipal segment accounted for highest market share in 2022, which is mainly accelerated growing importance and utilization of efficient water storage systems across numerous municipalities
- Asia Pacific is expected to be the fastest growing region over the study period, which is mainly driven by rapid increase in industrialization and urbanization in developing countries like India and China
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Polaris Market Research has segmented the water storage systems market report based on material, application, end-use, and region:
Water Storage Systems, Material Outlook (Revenue – USD Billion, 2019 – 2032)
- Steel
- Fiberglass
- Concrete
- Plastic
- Others
Water Storage Systems, Application Outlook (Revenue – USD Billion, 2019 – 2032)
- Hydraulic Fracture Storage & Collection
- Onsite Water & Wastewater Collection
- Portable Water Storage Systems
- Rainwater Harvesting & Collection
- Others
Water Storage Systems, End-Use Outlook (Revenue – USD Billion, 2019 – 2032)
- Residential
- Commercial
- Industrial
- Municipal
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