What is the future of Water Storage Systems Market? Know Covid Impact on Size, Share & Forecasts
July 21,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Water Storage Systems Market.
Water storage systems market is likely to witness an impressive CAGR of 5.1% during the forecast period. Rapid growing urbanization along with imposition of stringent regulations for conservation of water is the major key driver that is contributing to the demand for water storage systems, globally.
Water storage systems include containers for storing water. These systems are used to provide storage of water for use in many applications such as municipal, residential, commercial, and industrial.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the material type, the market is segmented as concrete, steel, plastic, fiberglass, and others. The concrete segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. Durability and corrosion resistant properties of concrete is driving the growth of this segment.
Based on the application type, the market is segmented as hydraulic fracture storage & collection, onsite water & wastewater collection, potable water storage system, fire suppression reserve & storage, rainwater harvesting & collection, and others. The hydraulic fracture storage & collection segment accounted for the largest share of the market in 2020, and is expected to maintain its dominance during the forecast period. The growth of the segment is driven by increasing oil explorations.
Based on the end-use industry type, the water storage systems market is segmented as municipal, industrial, commercial, and residential. The municipal segment dominates the market on account of global water scarcity. Further, growing population and increasing urbanization are likely to propel the segment’s growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for water storage systems during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the increasing government initiatives to conserve water as well as rapidly growing industrial, commercial, and residential developments in emerging economies of the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
- CST Industries, Inc.
- ZCL Composites, Inc.
- Synalloy Corporation
- AG Growth International Inc.
- Grupo Rotoplas S.A.B. De C.V.
- Mcdermott International, Inc.
- BH Tank
- Fiber Technology Corporation
- Caldwell Tanks
- Containment Solutions Inc.
- Maguire Iron Inc.
- Snyder Industries
- Crom Corporation
- Tank Connection
- Contain Enviro Services Ltd.
- HMT LLC
- DN Tanks
- Hendic Bv
- Sintex Plastics
- Technology Limited
- Balmoral Tanks Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Water Storage Systems Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors