The global water storage systems market is estimated to witness significant growth over the forecast period owing to the increasing awareness regarding water scarcity. In addition, rising demand for treated or recycled water along with fresh water in oil & gas refineries is projected to drive the water storage systems market growth over the forecast period.
In water storage systems, the water is stored in tanks attached with a pump, which aids in delivering the stored water to the various end-users, including industries, municipal, residential, and commercial structures. These storage systems are manufactured using concrete, plastic, fiberglass, and steel.
The water storage structures are designed, taking into account various parameters such as load-bearing capacity, self-weight and weight of the water, earth pressure, wind, water pressure, positive & negative air pressure, and thermal loads.
The treated water storage systems are used as a backup in situations such as water supply failure from source, critical pipeline, a sudden increase in water demand, and emergency, including fire. Furthermore, the need for treated water storage systems is dependent on the demand variation in the area coupled with the capacity of the facilities providing water to the area.
Rising consumer awareness regarding clean drinking water coupled with favorable government policies such as Clean India Mission in India is expected to augment the demand for water storage systems over the forecast period. Similarly, stringent regulations regarding consumption and conservation of water in
Water scarcity in various regions has resulted in boosting the demand for water storage systems. According to the United Nations, around 50% of the world’s population is likely to face water shortage by 2030, with the demand exceeding the supply by 40%. Furthermore, rising concerns for water conservation on account of the lack of drinking water is anticipated to have a positive impact on the water storage systems demand.
Rapid population growth has resulted in boosting the demand for drinking water in both rural and urban areas. In addition, the increasing number of office spaces is contributing positively to the demand for drinking water in commercial buildings. Similarly, population growth is expected to augment the need for water storage systems in commercial buildings such as hotels, restaurants, schools, warehouses, shops, malls & complexes, and government buildings.
Key factors such as ineffective water management, recycling of industrial wastewater, and reduction in rainfall are anticipated to drive the water storage systems market growth. In addition, increasing the adoption of plastic tanks for water storage in the emerging economies of Asia Pacific is likely to impact the market growth positively.
Rising awareness regarding the utilization of reused and recycled water in various industries, coupled with the need for uninterrupted water supply, is anticipated to boost the demand for water storage systems for industrial end-use. However, the high installation cost of the water storage systems is expected to hamper the market growth.
The water storage systems market can be segmented on the basis of type into fiberglass, concrete, metal, plastic, and others, including open-lined pits & wood tanks. The properties of plastic tanks, such as high flexibility and low cost, are anticipated to boost its demand over the forecast period. The raw material used for the construction of water storage systems depends on its properties, including strength, weight, durability, and corrosion resistance.
The global water storage systems market can be segmented on the basis of application into rainwater harvesting & collection, fire suppression reserve & storage, potable water storage systems, on-site water & wastewater collection, hydraulic fracture storage & collection, and others.
The other applications of water storage systems include secondary containment systems, irrigation, and marine. Growth in the oil & gas exploration activities globally, on account of the significant projects including Natuna D-Alpha (East Natuna Block) in Indonesia, Enhanced Re-Development Phase and Zubair Oil Field-Rehabilitation Phase (RP) in Iraq are anticipated to boost the demand for water storage systems for hydraulic fracture storage & collection over the forecast period.
The water storage systems market can be segmented on the basis of end-use industry into residential, commercial, industrial, and municipal. The penetration of the product for municipal end-use is anticipated to witness growth on account of the rapid urbanization, population growth, and rising water scarcity. Furthermore, increasing the focus of the industries on the usage of reused and recycled water is anticipated to have a positive impact on segment growth.
The demand for water storage systems in the Asia Pacific is expected to witness significant growth on account of the severe water shortage faced by the emerging economies, including India, China, Afghanistan, and Pakistan, according to the IIASA Water Program. Furthermore, a report by IIASA Water Program states that the Asia Pacific accounts for around 65% of the world’s water supply, with approximately 30% of the population in the region facing water shortage. This, in turn, is projected to provide new avenues for the growth of the water storage system in the region.
The water storage systems market is characterized by the presence of a large number of players, including CST Industries, McDermott, Containment Solutions, Inc., DN Tanks, Caldwell Tanks, Balmoral Group Holdings Ltd., AGI, AQUA Nishihara Corporation, and Tank Connection. The major market players are engaged in the development of water storage systems using novel materials.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
ESOMAR & Great Work to Place Certified
ISO 9001:2015 & 27001:2022 Certified
"The quality of research they have done for us has been excellent."
The supply of water treatment chemicals shall witness shortages due to the prevalence of COVID-19 at a pandemic level. The industrial sector as a whole shall register an increase in demand for dewatering equipment, water treatment systems and membranes due to stipulated public health guidelines and greater need for sanitary environment. The report will account for Covid19 as a key market contributor.