Water Storage Systems Market Size, Industry Analysis, Forecast 2032

Water Storage Systems Market: Industry Perspective

The global water storage systems market size was worth around USD 17.83 Billion in 2023 and is predicted to grow to around USD 37.14 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.5% between 2024 and 2032. The report analyzes the global water storage systems market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the water storage systems industry.

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The study includes the drivers and restraints of the water storage systems market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the water storage systems market on a global level.

Water Storage Systems Market: Overview

In order to give the users of this report a comprehensive view of the water storage systems market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Water is an essential commodity in our day-to-day operations. With groundwater scarcity, it has become important to store water. Thus, the need for water storage system arises. Water storage systems play an important in industrial, residential and commercial sectors. Tanks are considered as one of the important mediums of water storage. Water tanks are situated both above and below the ground. Basically, water storage means storage of potable water for consumption and the storage of non-potable water for other purposes. Apart from non-consumption, in many countries, especially in dry regions, there is a need for storage of potable drinking water.

The global water storage systems market is likely to experience significant growth in the future, owing to the growing scarcity of water, which is a global issue. The demand for water storage systems is likely to increase in the years ahead to store water. Furthermore, the increased use of water in various industrial applications is also projected to boost the water storage systems market development. Rapid industrialization in various regions is expected to use 4% more water annually in the future. Consequently, there will be a rise in global water consumption. Apart from residential and commercial sectors, the water consumption of the industrial sector will rise by 38% by 2050. Since groundwater resources are scarce, the only option is to recycle and store water to cater to the needs and demands of the industrial sector. This, in turn, will further contribute to the water storage systems market growth in the upcoming years. However, the high installation costs associated with the water storage systems may hamper the market growth in the future.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.

Water Storage Systems Market: Report Scope

Water Storage Systems Market: Segmentation Analysis

Based on type, the water storage systems market is segmented into plastic tanks, metal tanks, concrete tanks, fiberglass tanks, and others.

By application, the water storage systems market is categorized into industrial, residential, municipal, and commercial.

By region, North America held an extensive share of the global water storage systems market in 2023 and is expected to continue its regional authority in the upcoming years as well. This regional growth can be attributed to the rising oil and gas exploration activities in the Gulf region. Europe is expected to provide significant growth opportunities for the global water storage systems market in the future, owing to the increasing adoption of plastic water tanks across the region and stringent government rules and regulations regarding storage and quality monitoring of water.

Some major players operating in the global water storage systems market include AG Growth International, Synalloy Corporation, Aqua Dam, Fiber Technology Corporation, American Structures, Aqua Nishihara Corporation Limited, DN Tanks, Pulsed Hydraulics, De Nora Water Technologies, Superior Tank, and GenMod.

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Water Storage Systems Market: Competitive Analysis

The global Water Storage Systems market is dominated by players like:

• AG Growth International
• Synalloy Corporation
• Aqua Dam
• Fiber Technology Corporation
• American Structures
• Aqua Nishihara Corporation Limited
• DN Tanks
• Pulsed Hydraulics
• De Nora Water Technologies
• Superior Tank
• GenMod

This report segments the global water storage systems market as follows:

Global Water Storage Systems Market: Tank Type Analysis

• Concrete
• Fiberglass
• Metal
• Plastic
• Others

Global Water Storage Systems Market: Application Analysis

• Residential
• Industrial
• Commercial
• Municipal

Global Water Storage Systems Market: Regional Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa