The global water storage systems market is likely to reach value of USD 24.36 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to rising awareness regarding scarcity of fresh water and consumption of clean drinking water. Recycling of the wastewater generated through industries is also contributing to growth of the water shortage systems market. Countries facing severe climatic conditions and a high risk of drought are increasingly adopting water storage systems.Countries facing severe climatic conditions and a high risk of drought are increasingly adopting water storage systems. Rising utilization of water harvesting by farmers to reduce erosion and increase crop yields and product reliability is expected to drive the water storage systems market in the near future.
Rising demand for treated water in oil and gas refineries and growth in oil & gas exploration activities globally are likely to offer lucrative opportunities for major market players in the water storage systems market in the near future. water storage systems Market Size – USD 16.10 billion in 2019, Market Growth – at a CAGR of 5.7%, Market Trends – Increasing demand for recycled water in oil and gas refineries.In March 2019, AG Growth International, Inc. acquired Intellifarms, which provides technology-based products such as hardware and software for monitoring grain conditions during storage for growers and grain processors. The acquisition is expected to help AG Growth International; Inc. expand its controls, technology, and project management capabilities.
Key market participants include Synalloy Corporation, CST Industries, Inc., Mcdermott International, Inc., AG Growth International Inc., BH Tank, Caldwell Tanks, Sintex Plastics Technology Limited, Fiber Technology Corporation, Snyder Industries, and Containment Solutions, Inc.
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The fiberglass material segment is projected to expand at the most rapid CAGR of 6.7% during the forecast period. Anti-aging, safe, reliable, and fire-resistant nature of fiberglass and its long service life is boosting usage of fiberglass material-based water tanks in commercial and industrial sectors.
The Asia Pacific region is expected to be the most rapidly expanding region of the global market during the forecast period. Rapid urbanization and industrialization and increasing population in developing economies is driving the water storage systems market in the region.
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Application Outlook (Revenue, USD Billion; 2017–2027)
Hydraulic Fracture Storage & Collection
Rainwater Harvesting & Collection
On-site Water & Wastewater Collection
Potable Water Storage System
Fire Suppression Reserve & Storage
Others
End-use Outlook (Revenue, USD Billion; 2017–2027)
Commercial
Municipal
Residential
Industrial
Material Outlook (Revenue, USD Billion; 2017–2027)
Plastic
Concrete
Fiberglass
Steel
Others
The latest research report by Reports and Data, named ‘Global Water Storage Systems Market - Forecast to 2027’, entails a comprehensive review of the global Water Storage Systems market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Water Storage Systems industry, particularly the current COVID-19 scenario.
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This is the latest report, covering the current COVID-19 impact on the market. The pandemic has affected every aspect of human life globally. This has brought along several changes in the market conditions. The rapidly evolving market scenario and initial and future assessment of the impact are covered in the report. It contains critical information regarding the current and future growth of the market. It focuses on the in-depth analysis of the market. The report has a section dedicated to the profiling of the key companies in the market, along with the market shares they hold.
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