CHICAGO, Nov. 11, 2019 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets, the global Water Storage Systems Market size is expected to grow from USD 15.6 billion in 2019 and is projected to reach USD 20.5 billion by 2024, at a CAGR of 5.6% from 2019 to 2024. Major drivers of the water storage systems industry include the rapidly growing population, water scarcity, stringent regulation for conservation & consumption for water and others.
Inquire Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=112310652
Browse in-depth TOC on "Water Storage Systems Market"
63 - Tables
36 - Figures
148 - Pages
View Detailed Table of Content Here:
https://www.marketsandmarkets.com/Market-Reports/water-storage-system-market-112310652.html
Concrete material is projected to lead the water storage systems market during the forecast period
Based on the material, the water storage systems industry is segregated into steel, fiberglass, concrete, plastic, and others. The others include collapsible tanks, wood tanks, and open lined pits. Among these, concrete water storage systems accounted for the largest of the global water storage systems market share. This growth can be attributed to cost-effectiveness for installation, coupled with the low maintenance costs of concrete material. Fiberglass water storage systems to grow at the highest CAGR during the forecast period.
Hydraulic fracture storage & collection application is projected to lead the water storage systems market during the forecast period
Based on the application, the water storage systems industry is segregated 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 2018. This growth is attributed to the increasing oil & gas activities around the globe, coupled with the rising environmental concerns regarding the availability of water resources for future generations.
The municipal industry is the major consumer of water storage systems during the forecast period
Based on the end-use industry, the market is segregated into municipal, industrial, commercial, and residential. In terms of value, Municipal water storage systems accounted for the most significant share in the water storage systems market. This growth can be attributed to a rapidly increasing population, water scarcity, and rapid urbanization. Additionally, the residential end-use industry is expected to register the highest CAGR during the forecast period.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=112310652
Asia Pacific is projected to be the largest consumer of water storage systems during the forecast period.
By region, the industry is segregated into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, Asia Pacific is expected to lead the water storage systems market during the forecast period. 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 & discharges into the environment, and falling levels of rain, among others.
Key players in the water storage systems market 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 18 others are considered for the study.
Browse Adjacent Markets: Equipment Machine and Tooling Market Research Reports & Consulting
Related Reports:
Water & Wastewater Treatment Equipment Market by Product Type (Filtration (Granular/Sand Filtration, Adsorption, RO, MF), Disinfection (Chlorine, UV), Desalination, Testing), Application (Municipal, Industrial), and Region - Global Forecast to 2022
Water Clarifiers Market by Type (Flocculants, Organic Coagulants, Inorganic Coagulants, pH stabilizers), End-use Industry (Municipal, Pulp & Paper, Textiles, Petrochemicals, Metals & Mining), and Region - Global Forecast to 2022
Boiler Water Treatment Chemicals Market by Type (Corrosion Inhibitors, Scale Inhibitors, Oxygen Scavengers), End-Use Industry (Power, Oil & Gas, Chemical & Petrochemical, Food & Beverage, Pulp & Paper), and Region - Global Forecast to 2022
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/water-storage-system-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/water-storage-system.asp
