What Transformation Has the Water Storage Systems Market Undergone?
The water storage systems market has seen considerable growth due to a variety of factors.
•The market for water storage systems has seen significant growth recently. It is expected to rise from $18.81 billion in 2024 to $20.08 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%.
The historic period's growth can be linked to factors such as population growth and urbanization, industrial expansion, managing agricultural water, climate variability and water scarcity, along with environmental consciousness.
How Will The Water Storage Systems Market Size Evolve In The Foreseeable Future?
The water storage systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for water storage systems is projected to experience robust expansion over the next few years. It is anticipated to reach "$26.75 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%.
The growth forecasted for the period is due to factors such as adaptation to climate change, increased need for agriculture, infrastructure development initiatives, incorporation of renewable energy, and effective water management. Noteworthy trends occurring in the forecasted period encompass modular and scalable solutions, integration with smart infrastructure, resilience to climate, sustainable materials and construction, stormwater collection, along with remote observation and control.
Which Drivers Are Accelerating Growth In The Water Storage Systems Market?
The growth of the water storage systems market is projected to be bolstered by the increasing demand for freshwater. Freshwater refers to any naturally occurring liquid which includes frozen water and has minimal levels of dissolved salts and other total dissolved solids. These water storage systems are utilized to preserve this freshwater. The World Economic Forum, a non-profit organization based in Switzerland, projected in March 2023 that the global demand for freshwater will exceed the supply by 40% by 2030. Consequently, the growing demand for freshwater is stimulating the expansion of the water storage systems market.
What Are The Core Segments Of The Global Water Storage Systems Market?
The water storage systems market covered in this report is segmented –
1) By Material: Steel, Fiberglass, Concrete, Plastic, Other Materials
2) By Location: Underground, Indoor, Outdoor
3) By Application: Hydraulic Fracture Storage And Collection, Onsite Water And Wastewater Collection, Potable Water Storage Systems, Fire Suppression Reserve And Storage, Rainwater Harvesting And Storage, Other Applications
4) By End-User: Residential, Commercial, Municipal, Industrial
Subsegments:
1) By Steel: Stainless Steel, Carbon Steel, Galvanized Steel
2) By Fiberglass: Reinforced Fiberglass, Non-Reinforced Fiberglass
3) By Concrete: Precast Concrete, Cast-In-Place Concrete
4) By Plastic: Polyethylene, Polypropylene, PVC
5) By Other Materials: Wood, Composite Materials
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Which Emerging Trends Are Reshaping The Water Storage Systems Market Size?
The emergence of product innovation as a primary trend is influencing the growth of the water storage systems market. Businesses in this sector are introducing revolutionary products to maintain a competitive edge. For example, Prayag, a company based in India that manufactures water storage tanks, introduced its Sturdy water tanks in January 2022. Unlike ordinary tanks, these are lighter yet significantly more resilient. They are uniquely crafted using roto-molding technology, and their robust outer corners and ribs are a crucial design feature that provides added strength. A specific characteristic of these containers is the special tier lid, ensuring the tanks are securely sealed and locked for safety. Furthermore, the presence of air vents on both sides of the lid helps the water remain cold and free from odor. The range is available in different sizes, offering storage capacities from 500 liters up to 5000 liters, and comes with a warranty period between 7 and 10 years.
Who Are the Key Players in the Water Storage Systems Market?
Major companies operating in the water storage systems market include:
• CST Industries Inc.
• ZCL Composites Inc.
• Ascent Industries Co
• Ag Growth International
• McDermott International Ltd
• BH Tank Inc.
• Fiber Technological Corporation
• Caldwell Tanks Inc.
• Containment Solutions Inc.
• DN Tanks Inc.
• Synder Filtration Inc.
• Tank Connection LLC
• Superior Tanks Co Inc.
• Balmoral Tanks Ltd.
• Maguire Iron Inc.
• Aquamate LLC
• Norwesco Industries Inc.
• Enduraplas Inc.
• Pioneer Water Tanks America Inc.
• Waterplex Group Pty Ltd.
• Premier Tech Aqua
• Water Storage Australia Pty Ltd.
• Bushman Tanks
• Polymaster Group
• JoJo Tanks Ltd.
• National Storage Tank Inc.
• Rainwater Management Solutions Inc.
• Waterworks Technologies Inc.
• Paul Mueller Company
What are the Regional Insights into the Water Storage Systems Market?
Asia-Pacific was the largest region in the water storage systems market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global water storage systems market report during the forecast period. The regions covered in the water storage systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
