Global Water Storage Systems Market Size, Drivers, Trends, Opportunities And Strategies – Includes Water Storage Systems Market Analysis
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A growth in demand for freshwater is likely to stimulate innovation in the production of water storage systems, propelling the market during the forecast period.
The global water storage systems market is expected to grow from $16.38 billion in 2022 to $17.59 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The global water storage systems market size is expected to reach $22.47 billion in 2027 at a CAGR of 6.6%.
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Global Water Storage Systems Market Segments Include:
- By Material: Steel, Fiberglass, Concrete, Plastic, Other Materials
- By Location: Underground, Indoor, Outdoor
- By Application: Hydraulic Fracture Storage And Collection, Onsite Water And Wastewater Collection, Potable Water Storage Systems, Fire Suppression Reserve And Storage, Rainwater Harvesting And Storage, Other Applications
- By End-User: Residential, Commercial, Municipal, Industrial
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global water storage systems market in 2021.
Major Market Players in the water storage systems market include CST Industries, ZCL Composites Inc., Ascent Industries Co, Ag Growth International, McDermott International Ltd, BH Tank, Fiber Technological Corporation, Caldwell Tanks.
Product innovation is a prevalent trend in the water storage systems market. Companies in the water storage systems industry are creating new products to maintain their market position. Prayag, an Indian maker of water storage tanks, for example, launched Strudy water tanks in January 2022. Sturdy water tanks have the unusual feature of being both lighter and significantly more robust than other types of tanks. It is made with roto-molding technique and has robust outer corners and ribs, which are an important part of the design for added strength. Furthermore, the tier’s unique lid ensures that the tanks are securely screwed shut and secured for safety. Associated with performance, dependability, and quality. These tanks are recognised by the presence of air vents on both sides of the top, which keep the water cold and odourless. The product line comes in a variety of sizes with storage capacity ranging from 500 litres to 5000 litres and comes with a 7- to 10-year warranty.
The Water Storage Systems Global Market Report 2023 provides a water storage systems market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The water storage systems market forecast analyzes water storage systems market size, water storage systems market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A facility or location where water is retained for future use is referred to as a water storage system. Tanks are used in a variety of applications where water needs to be kept for easy access. Water storage tanks are used to streamline water delivery in domestic water storage, commercial food and beverage preparation, agricultural and irrigation, fire suppression, and industrial manufacturing.
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