The Global Water Storage System Market size is expected to reach $27.8 billion by 2028, rising at a market growth of 7.9% CAGR during the forecast period.
Systems that help in the storage of water and facilitate its further use through a well-developed network of conduits and pipes are referred to as water storage systems. A water reserve is considered a significant necessity as water is used across every sector and industry. There is a growing requirement for water storage systems, especially in the rapidly increasing construction industry across the industrial, commercial, residential, and municipal end users across the world.
The growth of the demand for water can also be ascribed to rising shortages of water, rapidly growing urbanization and population, strict regulations for water discharge and conservation, and drastically changing climatic conditions. Presently, around 1.1 billion people in the world do not have access to clean water, and about 2.7 billion people face water scarcity for approximately a month a year.
In addition to this, for about 2.4 million people, lack of water propagates the issue of inadequate sanitation. Such individuals, as a result, become exposed to hazards like typhoid fever, cholera, and many other water-borne diseases. Consequently, annually approximately 2 million people die because of diarrheal diseases.
Climate changes have turned many water systems, and their surrounding water stressed. Lakes, aquifers, and rivers are either becoming unusable because of pollution or are drying up. As a result, organizations and governments around the world have launched numerous initiatives that aim to increase the awareness of water scarcity and conservation among the general public and subsequently widen water conservation efforts. This is considerably impacting the water storage systems demand.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CST Industries, Inc., Superior Tank Co., Inc., Ag Growth International, Inc., American Tank Company, Inc. (BH Tanks), McDermott International, Ltd., Fiber Technology Corporation, Maguire Iron, Inc., Preload LLC and Containment Solutions, Inc. (NOV, Inc.)
Systems that help in the storage of water and facilitate its further use through a well-developed network of conduits and pipes are referred to as water storage systems. A water reserve is considered a significant necessity as water is used across every sector and industry. There is a growing requirement for water storage systems, especially in the rapidly increasing construction industry across the industrial, commercial, residential, and municipal end users across the world.
The growth of the demand for water can also be ascribed to rising shortages of water, rapidly growing urbanization and population, strict regulations for water discharge and conservation, and drastically changing climatic conditions. Presently, around 1.1 billion people in the world do not have access to clean water, and about 2.7 billion people face water scarcity for approximately a month a year.
In addition to this, for about 2.4 million people, lack of water propagates the issue of inadequate sanitation. Such individuals, as a result, become exposed to hazards like typhoid fever, cholera, and many other water-borne diseases. Consequently, annually approximately 2 million people die because of diarrheal diseases.
Climate changes have turned many water systems, and their surrounding water stressed. Lakes, aquifers, and rivers are either becoming unusable because of pollution or are drying up. As a result, organizations and governments around the world have launched numerous initiatives that aim to increase the awareness of water scarcity and conservation among the general public and subsequently widen water conservation efforts. This is considerably impacting the water storage systems demand.
COVID-19 Impact Analysis
Except for a few sectors, the COVID-19 pandemic slowed down investment in many sectors throughout the world, including the water sector. This has further raised the importance of the reliability of operations because of cost disruptions, trade restrictions, and labour shortages. The shifts in the pattern of water demand, along with emergency measures implemented by the numerous governments to handle the pandemic, are the main factors that induce operational needs. Proper and frequent handwashing was the most crucial and basic frontline defence aimed at mitigating and containing the pandemic. As a result, this substantiated the increase in the demand for water storage systems.Market Growth Factors
Sharp increase in the population of the world
The population of the world has increased by over three times since the middle of the 20th century. In mid-November 2022, there were approximately 8.0 billion people on the planet, according to the United Nations Organization. Because of the interconnectivity of the growing population"s increased need for drinking water and water for agriculture, the concurrent and future water shortages, predicted to affect many parts of the world, will significantly impact people"s lives. As a result, world leaders are investing heavily in finding ways to conserve and protect their national water resources. Consequently, the efforts by the various governments of the world to preserve water are propelling the growth of the water storage system market.Increasing adoption of plastic and reused & recycled plastic storage tanks
Most households that store water are adopting plastic storage tanks as these tanks have a long life and are cost-effective compared to tanks made from other materials. Additionally, plastic or polyethylene tanks are recyclable, which makes them environmentally friendly as well. As a result, more manufacturers are looking for ways to make tanks from recycled plastics. While the use of food-grade plastics is encouraged in making water storage tanks, those not made from the same are still recyclable. These factors help in the expansion of the adoption of plastic water storage tanks among places where a limited supply of water needs to be maintained. Consequently, it also boosts the development prospects of the water storage system market.Market Restraining Factors
Fluctuation in the cost of raw materials
Steel prices are very cyclical in nature, with prices changing from high to low every few years. Hot rolled coil (HRC) or reinforcing bar prices reached their most recent notable peaks in 2021. Additionally, metal prices are falling as a result of numerous international factors, including disputes between countries, COVID-induced supply chain delays, and increasing inflation. The fluctuation in prices of raw materials directly affects the demand for the product, with many consumers delaying their purchases. This discourages the manufacturers from expanding the production of products. Hence, the fluctuation in prices hampers the growth of the water storage system market.Application Outlook
On the basis of application, the water storage system market is divided into hydraulic fracture storage & collection, onsite water & wastewater collection, potable water storage systems, rainwater harvesting & collection, fire suppression reserve & storage, and others (marine, secondary containment systems, and irrigation). The hydraulic fracture storage and collection segment acquired the largest revenue share in the water storage system market in 2021. Rising applications of fresh and treated water in oil & gas refining processes are the primary factors that propel the growth of the segment.
End-use Outlook
Based on end use, the water storage system market is segmented into residential, commercial, industrial, and municipal. The residential segment procured a remarkable growth in the water storage system market in 2021. Rising awareness of people regarding the depletion of groundwater levels and the subsequent growing scarcity of freshwater resources has raised the adoption of water-saving techniques in many households.Material Outlook
Based on material, the water storage system market is categorized into steel, fiberglass, concrete, plastic, and others (collapsible tanks, wood tanks, and open-lined pits). The concrete segment garnered the highest revenue share in the water storage system market in 2021. The growth of the segment is attributable to the high cost-effectiveness and low maintenance of concrete water storage tanks.Regional Outlook
On the basis of region, the water storage system market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired the highest revenue share in the water storage system market in 2021. The region has been witnessing rapid social and economic developments over the past few decades. Human capital development, along with the rising number of good water management practices, is critical in the promotion of economic growth and social well-being of the region. This has accelerated the water conservation schemes, which consequently boosts the expansion of the segment.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CST Industries, Inc., Superior Tank Co., Inc., Ag Growth International, Inc., American Tank Company, Inc. (BH Tanks), McDermott International, Ltd., Fiber Technology Corporation, Maguire Iron, Inc., Preload LLC and Containment Solutions, Inc. (NOV, Inc.)
Scope of the Study
By Application
- Hydraulic Fracture Storage & Collection
- Potable Water Storage Systems
- Rainwater Harvesting & Collection
- Fire Suppression Reserve & Storage
- Onsite Water & Wastewater Collection
- Others
By End-use
- Municipal
- Industrial
- Commercial
- Residential
By Material
- Concrete
- Steel
- Fiberglass
- Plastic
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- CST Industries, Inc.
- Superior Tank Co., Inc.
- Ag Growth International, Inc.
- American Tank Company, Inc. (BH Tanks)
- McDermott International, Ltd.
- Fiber Technology Corporation
- Maguire Iron, Inc.
- Preload LLC
- Containment Solutions, Inc. (NOV, Inc.)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Water Storage System Market, by Application
1.4.2 Global Water Storage System Market, by End Use
1.4.3 Global Water Storage System Market, by Material
1.4.4 Global Water Storage System Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Water Storage System Market by Application
3.1 Global Hydraulic Fracture Storage & Collection Market by Region
3.2 Global Potable Water Storage Systems Market by Region
3.3 Global Rainwater Harvesting & Collection Market by Region
3.4 Global Fire Suppression Reserve & Storage Market by Region
3.5 Global Onsite Water & Wastewater Collection Market by Region
3.6 Global Others Market by Region
Chapter 4. Global Water Storage System Market by End Use
4.1 Global Municipal Market by Region
4.2 Global Industrial Market by Region
4.3 Global Commercial Market by Region
4.4 Global Residential Market by Region
Chapter 5. Global Water Storage System Market by Material
5.1 Global Concrete Market by Region
5.2 Global Steel Market by Region
5.3 Global Fiberglass Market by Region
5.4 Global Plastic Market by Region
5.5 Global Others Market by Region
Chapter 6. Global Water Storage System Market by Region
6.1 North America Water Storage System Market
6.1.1 North America Water Storage System Market by Application
6.1.1.1 North America Hydraulic Fracture Storage & Collection Market by Country
6.1.1.2 North America Potable Water Storage Systems Market by Country
6.1.1.3 North America Rainwater Harvesting & Collection Market by Country
6.1.1.4 North America Fire Suppression Reserve & Storage Market by Country
6.1.1.5 North America Onsite Water & Wastewater Collection Market by Country
6.1.1.6 North America Others Market by Country
6.1.2 North America Water Storage System Market by End Use
6.1.2.1 North America Municipal Market by Country
6.1.2.2 North America Industrial Market by Country
6.1.2.3 North America Commercial Market by Country
6.1.2.4 North America Residential Market by Country
6.1.3 North America Water Storage System Market by Material
6.1.3.1 North America Concrete Market by Country
6.1.3.2 North America Steel Market by Country
6.1.3.3 North America Fiberglass Market by Country
6.1.3.4 North America Plastic Market by Country
6.1.3.5 North America Others Market by Country
6.1.4 North America Water Storage System Market by Country
6.1.4.1 US Water Storage System Market
6.1.4.1.1 US Water Storage System Market by Application
6.1.4.1.2 US Water Storage System Market by End Use
6.1.4.1.3 US Water Storage System Market by Material
6.1.4.2 Canada Water Storage System Market
6.1.4.2.1 Canada Water Storage System Market by Application
6.1.4.2.2 Canada Water Storage System Market by End Use
6.1.4.2.3 Canada Water Storage System Market by Material
6.1.4.3 Mexico Water Storage System Market
6.1.4.3.1 Mexico Water Storage System Market by Application
6.1.4.3.2 Mexico Water Storage System Market by End Use
6.1.4.3.3 Mexico Water Storage System Market by Material
6.1.4.4 Rest of North America Water Storage System Market
6.1.4.4.1 Rest of North America Water Storage System Market by Application
6.1.4.4.2 Rest of North America Water Storage System Market by End Use
6.1.4.4.3 Rest of North America Water Storage System Market by Material
6.2 Europe Water Storage System Market
6.2.1 Europe Water Storage System Market by Application
6.2.1.1 Europe Hydraulic Fracture Storage & Collection Market by Country
6.2.1.2 Europe Potable Water Storage Systems Market by Country
6.2.1.3 Europe Rainwater Harvesting & Collection Market by Country
6.2.1.4 Europe Fire Suppression Reserve & Storage Market by Country
6.2.1.5 Europe Onsite Water & Wastewater Collection Market by Country
6.2.1.6 Europe Others Market by Country
6.2.2 Europe Water Storage System Market by End Use
6.2.2.1 Europe Municipal Market by Country
6.2.2.2 Europe Industrial Market by Country
6.2.2.3 Europe Commercial Market by Country
6.2.2.4 Europe Residential Market by Country
6.2.3 Europe Water Storage System Market by Material
6.2.3.1 Europe Concrete Market by Country
6.2.3.2 Europe Steel Market by Country
6.2.3.3 Europe Fiberglass Market by Country
6.2.3.4 Europe Plastic Market by Country
6.2.3.5 Europe Others Market by Country
6.2.4 Europe Water Storage System Market by Country
6.2.4.1 Germany Water Storage System Market
6.2.4.1.1 Germany Water Storage System Market by Application
6.2.4.1.2 Germany Water Storage System Market by End Use
6.2.4.1.3 Germany Water Storage System Market by Material
6.2.4.2 UK Water Storage System Market
6.2.4.2.1 UK Water Storage System Market by Application
6.2.4.2.2 UK Water Storage System Market by End Use
6.2.4.2.3 UK Water Storage System Market by Material
6.2.4.3 France Water Storage System Market
6.2.4.3.1 France Water Storage System Market by Application
6.2.4.3.2 France Water Storage System Market by End Use
6.2.4.3.3 France Water Storage System Market by Material
6.2.4.4 Russia Water Storage System Market
6.2.4.4.1 Russia Water Storage System Market by Application
6.2.4.4.2 Russia Water Storage System Market by End Use
6.2.4.4.3 Russia Water Storage System Market by Material
6.2.4.5 Spain Water Storage System Market
6.2.4.5.1 Spain Water Storage System Market by Application
6.2.4.5.2 Spain Water Storage System Market by End Use
6.2.4.5.3 Spain Water Storage System Market by Material
6.2.4.6 Italy Water Storage System Market
6.2.4.6.1 Italy Water Storage System Market by Application
6.2.4.6.2 Italy Water Storage System Market by End Use
6.2.4.6.3 Italy Water Storage System Market by Material
6.2.4.7 Rest of Europe Water Storage System Market
6.2.4.7.1 Rest of Europe Water Storage System Market by Application
6.2.4.7.2 Rest of Europe Water Storage System Market by End Use
6.2.4.7.3 Rest of Europe Water Storage System Market by Material
6.3 Asia Pacific Water Storage System Market
6.3.1 Asia Pacific Water Storage System Market by Application
6.3.1.1 Asia Pacific Hydraulic Fracture Storage & Collection Market by Country
6.3.1.2 Asia Pacific Potable Water Storage Systems Market by Country
6.3.1.3 Asia Pacific Rainwater Harvesting & Collection Market by Country
6.3.1.4 Asia Pacific Fire Suppression Reserve & Storage Market by Country
6.3.1.5 Asia Pacific Onsite Water & Wastewater Collection Market by Country
6.3.1.6 Asia Pacific Others Market by Country
6.3.2 Asia Pacific Water Storage System Market by End Use
6.3.2.1 Asia Pacific Municipal Market by Country
6.3.2.2 Asia Pacific Industrial Market by Country
6.3.2.3 Asia Pacific Commercial Market by Country
6.3.2.4 Asia Pacific Residential Market by Country
6.3.3 Asia Pacific Water Storage System Market by Material
6.3.3.1 Asia Pacific Concrete Market by Country
6.3.3.2 Asia Pacific Steel Market by Country
6.3.3.3 Asia Pacific Fiberglass Market by Country
6.3.3.4 Asia Pacific Plastic Market by Country
6.3.3.5 Asia Pacific Others Market by Country
6.3.4 Asia Pacific Water Storage System Market by Country
6.3.4.1 China Water Storage System Market
6.3.4.1.1 China Water Storage System Market by Application
6.3.4.1.2 China Water Storage System Market by End Use
6.3.4.1.3 China Water Storage System Market by Material
6.3.4.2 Japan Water Storage System Market
6.3.4.2.1 Japan Water Storage System Market by Application
6.3.4.2.2 Japan Water Storage System Market by End Use
6.3.4.2.3 Japan Water Storage System Market by Material
6.3.4.3 India Water Storage System Market
6.3.4.3.1 India Water Storage System Market by Application
6.3.4.3.2 India Water Storage System Market by End Use
6.3.4.3.3 India Water Storage System Market by Material
6.3.4.4 South Korea Water Storage System Market
6.3.4.4.1 South Korea Water Storage System Market by Application
6.3.4.4.2 South Korea Water Storage System Market by End Use
6.3.4.4.3 South Korea Water Storage System Market by Material
6.3.4.5 Singapore Water Storage System Market
6.3.4.5.1 Singapore Water Storage System Market by Application
6.3.4.5.2 Singapore Water Storage System Market by End Use
6.3.4.5.3 Singapore Water Storage System Market by Material
6.3.4.6 Malaysia Water Storage System Market
6.3.4.6.1 Malaysia Water Storage System Market by Application
6.3.4.6.2 Malaysia Water Storage System Market by End Use
6.3.4.6.3 Malaysia Water Storage System Market by Material
6.3.4.7 Rest of Asia Pacific Water Storage System Market
6.3.4.7.1 Rest of Asia Pacific Water Storage System Market by Application
6.3.4.7.2 Rest of Asia Pacific Water Storage System Market by End Use
6.3.4.7.3 Rest of Asia Pacific Water Storage System Market by Material
6.4 LAMEA Water Storage System Market
6.4.1 LAMEA Water Storage System Market by Application
6.4.1.1 LAMEA Hydraulic Fracture Storage & Collection Market by Country
6.4.1.2 LAMEA Potable Water Storage Systems Market by Country
6.4.1.3 LAMEA Rainwater Harvesting & Collection Market by Country
6.4.1.4 LAMEA Fire Suppression Reserve & Storage Market by Country
6.4.1.5 LAMEA Onsite Water & Wastewater Collection Market by Country
6.4.1.6 LAMEA Others Market by Country
6.4.2 LAMEA Water Storage System Market by End Use
6.4.2.1 LAMEA Municipal Market by Country
6.4.2.2 LAMEA Industrial Market by Country
6.4.2.3 LAMEA Commercial Market by Country
6.4.2.4 LAMEA Residential Market by Country
6.4.3 LAMEA Water Storage System Market by Material
6.4.3.1 LAMEA Concrete Market by Country
6.4.3.2 LAMEA Steel Market by Country
6.4.3.3 LAMEA Fiberglass Market by Country
6.4.3.4 LAMEA Plastic Market by Country
6.4.3.5 LAMEA Others Market by Country
6.4.4 LAMEA Water Storage System Market by Country
6.4.4.1 Brazil Water Storage System Market
6.4.4.1.1 Brazil Water Storage System Market by Application
6.4.4.1.2 Brazil Water Storage System Market by End Use
6.4.4.1.3 Brazil Water Storage System Market by Material
6.4.4.2 Argentina Water Storage System Market
6.4.4.2.1 Argentina Water Storage System Market by Application
6.4.4.2.2 Argentina Water Storage System Market by End Use
6.4.4.2.3 Argentina Water Storage System Market by Material
6.4.4.3 UAE Water Storage System Market
6.4.4.3.1 UAE Water Storage System Market by Application
6.4.4.3.2 UAE Water Storage System Market by End Use
6.4.4.3.3 UAE Water Storage System Market by Material
6.4.4.4 Saudi Arabia Water Storage System Market
6.4.4.4.1 Saudi Arabia Water Storage System Market by Application
6.4.4.4.2 Saudi Arabia Water Storage System Market by End Use
6.4.4.4.3 Saudi Arabia Water Storage System Market by Material
6.4.4.5 South Africa Water Storage System Market
6.4.4.5.1 South Africa Water Storage System Market by Application
6.4.4.5.2 South Africa Water Storage System Market by End Use
6.4.4.5.3 South Africa Water Storage System Market by Material
6.4.4.6 Nigeria Water Storage System Market
6.4.4.6.1 Nigeria Water Storage System Market by Application
6.4.4.6.2 Nigeria Water Storage System Market by End Use
6.4.4.6.3 Nigeria Water Storage System Market by Material
6.4.4.7 Rest of LAMEA Water Storage System Market
6.4.4.7.1 Rest of LAMEA Water Storage System Market by Application
6.4.4.7.2 Rest of LAMEA Water Storage System Market by End Use
6.4.4.7.3 Rest of LAMEA Water Storage System Market by Material
Chapter 7. Company Profiles
7.1 Containment Solutions, Inc. (NOV, Inc.)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.2 Ag Growth International, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Recent strategies and developments:
7.2.1.1 Acquisition and Mergers:
7.3 CST Industries, Inc.
7.3.1 Company Overview
7.4 Superior Tank Co., Inc.
7.4.1 Company Overview
7.5 American Tank Company, Inc. (BH Tanks)
7.5.1 Company Overview
7.6 McDermott International, Ltd.
7.6.1 Company Overview
7.7 Fiber Technology Corporation
7.7.1 Company Overview
7.8 Maguire Iron, Inc.
7.8.1 Company Overview
7.9 Preload LLC
7.9.1 Company Overview
Companies Mentioned
- CST Industries, Inc.
- Superior Tank Co., Inc.
- Ag Growth International, Inc.
- American Tank Company, Inc. (BH Tanks)
- McDermott International, Ltd.
- Fiber Technology Corporation
- Maguire Iron, Inc.
- Preload LLC
- Containment Solutions, Inc. (NOV, Inc.)
Methodology
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