Water Storage Systemss Market Worth $32 Billion By 2030: IndustryARC

Water Storage Systems Market size is expected to reach $32 billion by 2030 after growing at a CAGR of 8.9% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Rising water scarcity, government regulations and incentives and the growing need for water security propel the demand, finds IndustryARC in its recent report, titled “Water Storage Systems Market By Type (Potable Water Storage Systems, Non-Potable Water Storage Systems), By Material (Fiberglass, Concrete, Metal, Plastic, Others), By Storage Capacity(Up to 1,000 Gallons, 1,000 to 10,000 Gallons, More than 10000 Gallons), By Installation (Underground, Above Ground), By Application(Onsite Water & Wastewater Collection, Rainwater Harvesting and Collection, Fire Suppression Reserve and Storage, Hydraulic Fracture Storage and Collection, Agricultural Irrigation Storage, Emergency Water Storage, Others), By End Use Industry (Residential, Agriculture, Automotive, Chemical, Energy and Power, Food and Beverage, Electronics & ICT, Lifesciences and Healthcare, Aerospace and Defense, Education, Mining, Oil & Gas, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

The world is facing a serious water crisis. According to the United Nations World Water Development Report 2023, around 80% of people living under water stress live in Asia, particularly in northeast China, India and Pakistan. The global urban population facing water scarcity is projected to reach 1.7-2.4 billion people in 2050, with India projected to be the most severely affected. To mitigate this, governments are implementing stricter laws on water conservation and discharge. This creates a demand for efficient water storage systems that minimize waste and optimize usage.

• Potable Water Storage Systems

• Non-Potable Water Storage Systems

• Fiberglass

• Concrete

• Metal

• Plastic

• Others

• Up to 1,000 Gallons

• 1,000 to 10,000 Gallons

• More than 10000 Gallons

• Underground

• Above Ground

• Onsite Water & Wastewater Collection

• Rainwater Harvesting and Collection

• Fire Suppression Reserve and Storage

• Hydraulic Fracture Storage and Collection

• Agricultural Irrigation Storage

• Emergency Water Storage

• Others

• Residential

• Agriculture

• Automotive

• Chemical

• Energy and Power

• Food and Beverage

• Electronics & ICT

• Lifesciences and Healthcare

• Aerospace and Defense

• Mining

• Oil & Gas

• Others

• North America

• South America

• Europe

• Asia-Pacific

• Rest of the World

The Asia Pacific (APAC) region dominates the Water Storage Systems market owing to the water scarcity in the region. According to the World Bank, India has 18% of the world’s population, but only 4% of its water resources. This makes India one of the most water-stressed in the world. A large number of Indians face high to extreme water stress, according to NITI Aayog. As per the Global Water Security 2023 Assessment by the United Nations, Pakistan, Afghanistan and Sri Lanka are in the critically water insecure category. Therefore, there is an urgent need for Water Storage Systems in the region.

Potable water storage is expected to grow the fastest due to increasing global concerns about water scarcity, population growth and the need for reliable access to clean drinking water. Government regulations and initiatives promoting the provision of clean drinking water also play a significant role. For instance, in February 2021, the Mangaluru government announced that under the Jalasiri Scheme, 20 storage tanks would be built in the city to supply drinking water, with the aid of ADB (Asian Development Bank). Such developments encourage investments in potable water storage infrastructure.

By application, hydraulic fracture storage and collection is the largest segment. Hydraulic fracture or fracking uses millions of gallons of water to fracture rock formations and release oil or gas.  According to the American Petroleum Institute, the average fracking job uses roughly 4 million gallons of water per well. The demand for oil and gas extraction increased the number of fracking sites, driving demand for water storage. Additionally, regulatory requirements for water management and environmental protection further emphasize the need for secure and compliant water storage. 

Many regions around the world are facing drought conditions or unreliable rainfall patterns. This creates a situation where there's not enough readily available water to meet human and environmental needs. As a result, governments around the world have stringent regulations and incentives regarding water conservation and storage. For instance, in the 2023/24 Budget the Jamaican Government announced that the government will provide 10,000 water tanks to needy households across Jamaica starting in fiscal year 2023/24.

One of the most significant opportunities in storage tank management is the increasing adoption of digital technologies. From IoT (Internet of Things) sensors to cloud-based platforms, digitalization offers unparalleled insights into tank conditions and performance in real-time. These technologies enable remote monitoring, predictive maintenance, and data-driven decision-making, ultimately enhancing operational efficiency and reducing downtime. For instance, in September 2023, South African water company, JoJo, launched an Internet of Things (IoT) water tank level monitoring device. By analyzing historical data and identifying patterns, these systems can forecast maintenance needs, optimize equipment performance, and prevent unplanned downtime. Predictive maintenance not only reduces operational costs but also extends the lifespan of storage tanks, maximizing return on investment.

WQMS is a systematic approach to monitoring, assessing, and maintaining the quality of water within a storage system. It involves a combination of physical infrastructure, testing procedures, and data management strategies. WQMS helps prevent contamination and ensures water stored for consumption meets all safety regulations proper water quality reduces the risk of waterborne diseases and promotes public health. Early detection of water quality issues allows for prompt corrective actions, minimizing the need for extensive treatment later or potential damage to storage systems Moreover, WQMS helps organizations comply with government regulations set for drinking water quality or industrial water discharge. Data collected through a WQMS can be used to optimize water treatment processes, reduce water waste, and promote sustainable water management practices.

• Water Storage Systems Market size and Forecast 

• Water Storage Systems Market trends

• Water Storage Systems Market analysis by Type

• CAGR of the market during the forecast period 2024-2030

• Value Chain analysis of key stake holders

• Detailed analysis of market drivers and opportunities during the forecast period

• Water Storage Systems Market size estimation and forecast

• Analysis and predictions on end user behavior and upcoming trends 

• Competitive landscape and Vendor market analysis including offerings, developments, and financials

• Comprehensive analysis of challenges and constraints in the Water Storage Systems Market

• The COVID-19 pandemic had a significant impact on the water storage systems industry. Growing focus on handwashing and sanitation, led to an increased demand for water storage. However, many large scale project implementations were delayed due to fear of spread of the virus and lockdowns.

• The world is currently experiencing an economic crisis as a result of Russia's invasion of Ukraine. The repercussions of the war have resulted in inflation and increased prices which also impacts the Water Storage Systems market.

The companies profiled in the Water Storage Systems Market include:

• McDermott International Ltd.

• Ascent Industries Co

• CST Industries, Inc.

• DN Tanks

• Sintex Plastics Technology Limited

• Caldwell Tanks

• National Oilwell Varco (NOV)

• Balmoral Tanks Limited

• Snyder Industries

• Enduramaxx Limited

• National Storage Tanks Inc.

• Beltecno 

• H2X Pty Ltd

• Superior Tank Co. Inc.

• Crom Corporation

Drinking Water Market- Drinking Water Market size is estimated to reach $426.3 billion by 2027, growing at a CAGR of 6.5% during the forecast period 2022-2027. Drinking water can be derived from a variety of natural sources, including groundwater, surface waters (lakes and rivers), and the ocean. Suspended sediments, bacteria, and hazardous compounds must be absent from drinking water.

Agrochemical Tank Market- Agrochemical Tank Market size is estimated to reach US$2 billion by 2030, growing at a CAGR of 4.3% during the forecast period 2023-2030. The growing expansion of the agriculture industry and the necessity to transport and store agrochemicals such as fertilizers, herbicides and pesticides are propelling the Agrochemical Tank Market growth.

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

Mr. Venkat Reddy

IndustryARC

Email: [email protected]

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