Dublin, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The "Water Storage Systems Market by Material (Steel, Fiberglass, Concrete, Plastic), Application, End Use (Residential, Commercial, Industrial, and Municipal), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global water storage systems market size is projected to grow from USD 16.5 billion in 2022 to USD 25.1 billion by 2027, at a CAGR of 8.7%, between 2022 and 2027. Residential, commercial, industrial, and municipal end users are driving market growth thanks to the growing construction industry. A variety of causes contribute to this increase, including water shortages, fast exponential population growth and urbanization, rigorous water conservation and discharge rules, and changing climate conditions.
The plastic segment is one of the fastest-growing material segments during the forecast period.
Based on material, the plastic segment is expected to be one of the largest segments during the forecast period. Plastics are used to manufacture tanks with a capacity of up to 20,000 gallons. Plastic tanks are suitable for storing water as well as chemicals such as chlorine, bleaches, and acids, and are mostly made of food-grade standard plastic using a rotational molding process. This helps in inhibiting the growth of algae and other bacteria in the stored water.
A plastic storage tank is a huge container meant to store water for households, agriculture, irrigation, and industrial applications. Water tanks are manufactured in a variety of styles to satisfy the demands of certain applications, with speciality models designed to meet specific criteria and regulations. The term plastic water tank refers to a broad category of plastic tanks used to store water..
The rainwater harvesting & collection segment is expected to register the second-highest CAGR during the forecast period.
Rainwater collection tanks can also be referred to as rain tanks, rainwater harvesting tanks, or rainwater storage tanks. Rainwater tanks are a good way to supplement water sources, especially during times of shortage, dry weather, or contaminated water supplies. The UV inhibitors included in rainwater storage tanks prevent the tank from sun deterioration, allowing it to be utilized both indoors and outdoors. Because they are resistant to impact, corrosion, and rust and, thus, have a long lifespan. Rainwater tanks with capacities ranging from 100 to 12,500 gallons are available.
Rainwater harvesting is a technique for collecting, storing, and reusing rainwater for household or commercial applications. Rainwater is collected from a variety of hard surfaces, such as rooftops and other constructed aboveground hard surfaces, and stored in tanks for later use. Rainwater harvesting and collecting systems exist in a variety of sizes and designs, depending on the amount of precipitation and the available space. Water is purified and stored for later use in purification systems.
Market Dynamics
Drivers
- Rapidly Increasing Population
- Limited Availability of Water
- Growth of End-use Industries
Restraints
- Fluctuation in Raw Material Prices
- High Initial Investment
Opportunities
- Recycling and Reuse Offer Opportunities for Growth
- Significant Opportunities for Growth in Emerging Countries
Challenges
- Tank and Water Quality Issues
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Water Storage Systems Market, by Material
7 Water Storage Systems Market, by Application
8 Water Storage Systems Market, by End Use
9 Water Storage Systems Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent & Related Markets
13 Appendix
Companies Mentioned
- AG Growth International Inc.
- Balmoral Tanks Limited
- Bh Tank
- Caldwell Tanks
- Contain Enviro Services Ltd.
- Containment Solutions Inc.
- Crom Corporation
- Cst Industries, Inc.
- Dn Tanks
- Fiber Technology Corporation
- Hmt LLC
- Maguire Iron Inc.
- Mcdermott International, Inc.
- Pittsburg Tank & Tower Group
- Sintex Plastics Technology Limited
- Snyder Industries
- Superior Tank Co. Inc.
- Synalloy Corporation
- Tank Connection
- Zcl Composites, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/lrozpe
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