AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Outlook on the World’s Water Storage Systems Market (2019-2024): A $20+ Billion Industry Opportunity - ResearchAndMarkets.com

November 25, 2019

DUBLIN--(BUSINESS WIRE)--Nov 25, 2019--

The “Water Storage Systems Market by Material (Concrete, Steel, Plastic, Fiberglass), Application, End-use Industry (Municipal, Industrial, Residential, Commercial), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The Global Water Storage Systems Market Size is Estimated to be USD 15.6 Billion in 2019 and Projected to Reach USD 20.5 Billion by 2024.

The leading water storage systems manufacturers, globally, profiled in this report are CST Industries, Inc. (US) and McDermott International Inc. (US), Containment Solutions Inc., (US), DN Tanks (US), Caldwell Tanks (US), Balmoral Tanks Limited (UK), and Synalloy Corporation (US), and others.

Hydraulic fracture storage & collection is the dominant application which is likely to drive the market during the forecast period

Based on application, the water storage systems market has been classified into hydraulic fracture storage & collection, onsite water & wastewater collection, potable water storage systems, fire suppression reserve & storage, rainwater harvesting & collection, and others. The other applications of water storage tanks include irrigation, secondary containment systems, and marine.

Among these, hydraulic fracture storage & collection accounted for the largest share in the water storage systems industry. This growth can be attributed to increasing environmental concerns regarding the availability of water resources for future generations, coupled with rising oil & gas activities around the globe.

Municipal is the major consumer of water storage systems market and is expected to grow further

Based on the end-use industry, the market has been classified into municipal, industrial, commercial, and residential. In terms of value, the municipal sector accounted for the largest share and is expected to grow moderately during the forecast period.

Increasing urbanization, rapid population growth, and scarcity of water are among the major drivers for the growth of the municipal water storage systems market. Moreover, the residential end-use industry is expected to register the highest CAGR during the forecast period.

Asia-Pacific occupied for the majority of the market share in 2018 and is projected to witness the fastest growth during the forecast period

Based on geography, the water storage systems market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. In terms of value, the Asia Pacific region accounted for the largest share in the market.

This growth is attributed to the scarcity of water, ineffective utilization of water, inefficient recycling of industrial wastewater for reuse, rapidly growing population & urbanization, stringent regulation for water conservation and discharges into the environment, and falling levels of rains, among others.

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Companies Profiled

For more information about this report visit https://www.researchandmarkets.com/r/4xwelr

View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005464/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: ENGINEERING CONSTRUCTION & PROPERTY BUILDING SYSTEMS MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/25/2019 08:34 AM/DISC: 11/25/2019 08:34 AM

http://www.businesswire.com/news/home/20191125005464/en