The global water storage systems market size is expected to reach USD 34.27 billion by 2032, according to a new study by Polaris Market Research. The report “Water Storage Systems Market Share, Size, Trends, Industry Analysis Report, By Material (Steel, Fiberglass, Concrete, Plastic, and Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The surging expansion of variety of government favorable initiatives regarding the water conservation and clean water consumptions globally along with the increasing number of commercial buildings and residential sector growth that boosts the demand for fresh drinking water, which in turn propelling the growth of the global market exponentially.
In addition, to improve and rehabilitate the existing water storage systems many key market companies are investing heavily and introducing new products in the market with innovated features and functions, which is likely to create lucrative growth opportunities for the market.
For instance, in October 2022, Skipper, unveiled its latest product line of water tanks named Marina in five Indian states that are made with the additional ribs for enhanced strength & high durability. Marina tanks will be suitable for both commercial and residential purposes, as it is built with advanced 4 & 3 layers of the foam based insulation technology for the anti-bacterial & hygienic water storage.
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The growing dependence on the variety of agricultural food products worldwide, with the rising awareness regarding the use of innovated storage systems in agriculture sector for reducing erosion, improvement in crop yields, production reliability, and watering livestock is gaining high traction and influencing the market growth.
In addition, as these kinds of systems provide secure and safe access to water with reliable storage, they are being widely utilized in fire suppression and in the mining industry for variety of water related purposes.
Water Storage Systems Market Report Highlights
Polaris Market Research has segmented the water storage systems market report based on material, application, end-use, and region:
Water Storage Systems, Material Outlook (Revenue - USD Billion, 2019 - 2032)
Water Storage Systems, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Water Storage Systems, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)
Water Storage Systems, Regional Outlook (Revenue - USD Billion, 2019 - 2032)