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Rising awareness regarding scarcity of fresh water and growing interest of industries in usage of recycled water are driving the market.
VANCOUVER, BC, CANADA, May 11, 2022 /EINPresswire.com/ -- 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. Rapid urbanization and industrialization and increasing population in developing economies is driving the water storage systems market in the region. The fiberglass material segment is projected to expand at the most rapid CAGR of 6.7% during the forecast period. Rising awareness regarding scarcity of fresh water and growing interest of industries in usage of recycled water are driving the market. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Water Storage Systems market demand and supply chains.
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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.
Key Highlights of Report 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.
The hydraulic fracture storage & collection segment held the largest market share of 39.1% in 2019. Increasing utilization of treated and fresh water in oil and gas refineries is expected to drive the segment during the forecast period. 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 report conducts a comparative assessment of the leading market players participating in the global Water Storage Systems market. 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. 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
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Emergen Research has segmented the global water storage systems market based on application, material, end-use, and region: End-use Outlook (Revenue, USD Billion; 2017–2027) Commercial Municipal Residential Industrial
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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
Material Outlook (Revenue, USD Billion; 2017–2027) Plastic Concrete Fiberglass Steel Others
Elucidating the competitive landscape of the Global Water Storage Systems Market: The global Water Storage Systems market report offers viable insights into the competitive spectrum of the Water Storage Systems business sphere. The report systematically profiles the company information of each market player. It identifies the estimated industry share, production facilities, development prospects, and geographies served by each market player. The study showcases the extensive product portfolios of the prominent market contenders. It offers critical data & information about the product application scope and the end-user landscape. The study provides salient information about the pricing models of the products offered by these companies. Moreover, it determines the gross profits and losses experienced by them throughout their market tenures.
Regional Analysis of the Water Storage Systems Market: North America (U.S., Canada) Europe (U.K., Italy, Germany, France, Rest of EU) Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC) Latin America (Chile, Brazil, Argentina, Rest of Latin America) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Global Water Storage Systems Market Report – Table of Contents: Chapter 1 includes the global Water Storage Systems market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others. Chapter 2 broadly categorizes the Water Storage Systems market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period. Chapter 3 elaborates on the competitive outlook of the Water Storage Systems market, focusing on the major manufacturers and vendor landscape. Chapter 4 exhaustively studies the key manufacturers of the Water Storage Systems industry, along with their anticipated sales and revenue shares. Chapters 5 includes market segmentation based on product type, application range, and market players.
Key Objectives of the Report: Analysis and estimation of the Water Storage Systems market size and share for the projected period of 2020-2027 Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Water Storage Systems market
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Finally, all aspects of Water Storage Systems market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations, and future prospects
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