Water Storage Systems Market Size Worth $34.27 Billion By 2032 | CAGR: 7.8%

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

• The fiberglass segment is expected to grow fastest at maximum CAGR during the anticipated period owing to its numerous advantages and beneficial features like light weight and high durability
• Onsite water and wastewater segment is anticipated to account for substantial market share on account growing incidence of various waterborne diseases and increase in the demand for clean water
• Municipal segment accounted for highest market share in 2022, which is mainly accelerated growing importance and utilization of efficient water storage systems across numerous municipalities
• Asia Pacific is expected to be the fastest growing region over the study period, which is mainly driven by rapid increase in industrialization and urbanization in developing countries like India and China
• The global key market players include CST Industries, ZCL Composites, AG Growth International Inc., Caldwell Tanks, and Fiber Technology Corporation

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)

• Steel
• Fiberglass
• Concrete
• Plastic
• Others

Water Storage Systems, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Hydraulic Fracture Storage & Collection
• Onsite Water & Wastewater Collection
• Portable Water Storage Systems
• Rainwater Harvesting & Collection
• Others

Water Storage Systems, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Residential
• Commercial
• Industrial
• Municipal

    Water Storage Systems, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa