Water conservation

Water Storage Systems Market Worth US$25.1 Billion by 2027 – Exclusive Report by MarketsandMarkets™

CHICAGO, October 19, 2022 /PRNewswire/ — The report Water Storage Systems Market by material (steel, fiberglass, concrete, plastic), application, end use (residential, commercial, industrial, and municipal), and region (North America, EuropeAPAC, MEA, South America) – Global Forecast to 2027″the size should go from $16.5 billion in 2022 at $25.1 billion by 2027, at a CAGR of 8.7%. The growth of the market is attributed to the growing demand for water storage systems in the growing construction industry among residential, commercial, industrial and municipal end users across the globe. This growth is attributed to increasing water scarcity, rapid population and urbanization growth, stringent water conservation and discharge regulations, and changing climatic conditions, among others.

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Concrete segment is the fastest growing materials segment during the forecast period.

Based on materials, concrete segment is expected to be the largest segment during the forecast period. Concrete water storage systems can be used for long periods of time due to their superior strength, non-corrosive properties and durability. These tanks are environmentally friendly and are used for both residential and commercial purposes, as the concrete provides natural insulation, which keeps the water cool and minimizes the amount of bacterial growth in the water. Concrete tanks can be used for a variety of applications such as fire suppression and prevention, community water storage systems, agricultural irrigation, wine production, ranch water supply and livestock and landscape water storage, among others. In addition, over time, the lime in the concrete seeps into the water, reducing the acidity of rainwater and making it more drinkable. These factors should favor the use of concrete water storage systems. Concrete tanks are the preferred choice for large capacity water storage.

The hydraulic fracture storage and collection segment will dominate the water storage systems market during the forecast period.

On the basis of application, the water storage systems market is segmented into hydraulic fracture storage and collection, on-site water and wastewater collection, potable water storage systems, reserve and storage fire extinguishing, collection and collection of rainwater and others (irrigation, secondary containment systems and others). Marine). After the COVID-19 crisis caused an unexpected drop in demand in 2020, global oil markets are rebalancing. The global economy and oil markets are recovering from the record drop in demand induced by the COVID-19 pandemic. The huge inventory surplus that built up in 2020 is being depleted and global oil inventories, excluding strategic reserves, have returned to pre-pandemic levels in 2021. Water used in the oil and gas industry should be treated for reuse or disposal in accordance with various environmental regulations. and regulatory standards and regulations. Petroleum and natural gas are valuable commodities that allow various countries to meet their energy needs. Natural gas, combined with coal and oil, accounts for 85% of total energy consumption in the United States. However, as traditional resources become scarcer, more emphasis has been placed on unconventional sources such as shale gas, taut sands and coal bed methane.

According to the United States Environmental Protection Agency (EPA), coal mining will contribute approximately 10% of global methane emissions in 2030. A significant number of these emissions are produced by major coal-producing countries such as China, RussiaUnited States, Indiaand Australia. The EPA predicts that a suite of existing technologies could save about 64% of estimated emissions in 2030; this reduction potential should remain stable until 2050. The international coal market therefore offers considerable business opportunities for American suppliers, project developers and other partners. This will drive the demand for hydraulic fracture storage and collection during the forecast period.

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Asia Pacific The water storage systems market is estimated to register the highest CAGR during the forecast period.

The Asia Pacific The region is the largest market for water storage systems worldwide. The market in the Asia Pacific has been studied for China, India, Japan, South Korea, Australiaand the rest of Asia Pacific (Thailand, Taiwan, Indonesiaand Malaysia). Among these countries, China accounted for the largest share of 40.9% of the Asia Pacific water storage systems market.

India and China have experienced double-digit GDP growth in recent years, as well as a population boom. The river basins of the countries are unable to meet the water demand of these highly populated countries. In addition, socio-economic factors lead to an increase in population, which is expected to lead to water scarcity in the Asia Pacific Region. The fluctuating levels of precipitation in some countries of the Asia Pacific have also led to water scarcity, which is expected to increase the demand for water storage systems in the near future.

Major players operating in water storage systems include CST Industries Inc. (USA), ZCL Composites Inc. (Canada), Synalloy Corporation (USA), AG Growth International Inc. (Canada), McDermott International Inc. (USA), BH Tank (USA), Fiber Technology Corporation (USA), Caldwell Tanks (USA), Containment Solutions Inc. (USA) and Maguire Iron Inc. . (United States).https://www.marketsandmarkets.com/requestsampleNew.asp?id=149638848 – &utm_source=PRNewswire&utm_medium=Referal&utm_campaign=PaidPR

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