Chicago, Dec. 07, 2022 (GLOBE NEWSWIRE) — 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%, as per the recent study by MarketsandMarkets™. The increasing demand for water storage systems from end uses, such as residential, commercial, industrial, and municipal, drives the market. Demand for water tanks is encouraged by many companies to formulate different developmental strategies in the water storage systems market to expand their footprint in the market. The companies have adopted various strategies, such as investment & expansion, merger & acquisition, new product launches, and joint ventures to increase their global presence and maintain sustained growth in the water storage systems market.
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Browse in-depth TOC on “Water Storage Systems Market”
184- Market Data Tables
41 – Figures
212 – Pages
List of Key Players in Water Storage Systems Market:
CST Industries Inc. (US)
CST Industries Inc. (US)
ZCL Composites Inc. (Canada)
Synalloy Corporation (US)
AG Growth International Inc. (Canada)
McDermott International Inc. (US)
BH Tank (US)
Fiber Technology Corporation (US)
Caldwell Tanks (US)
Containment Solutions Inc. (US)
Maguire Iron Inc. (US)
Drivers, Restraints, Opportunities and Challenges in Water Storage Systems Market:
Drivers: Rapid increasing population
Opportunity: Recycling and reuse offer opportunities for growth
Challenges: Tank and water quality issues
Key Findings of the Study:
The concrete segment is the fastest-growing material segment during the forecast period.
The hydraulic fracture storage & collection segment to lead the water storage systems market during the forecast period.
Asia Pacific water storage systems market is estimated to register the highest CAGR during the forecast period.
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The concrete segment is the fastest-growing material segment during the forecast period.
Based on material, the concrete segment is expected to be the largest segment during the forecast period. Concrete water storage systems can be used for long periods due to their superior strength, non-corrosive properties, and durability. These tanks are environment-friendly and are used for both residential and commercial purposes as concrete provides natural insulation, which keeps the water cool and minimizes the amount of bacterial growth in the water. Concrete tanks can …
