Water Storage Systems Market- By Type, By Material, By Storage Capacity, By Installation, By Application, By End Use Industry, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030.

Water Storage Systems Market Overview:

Water Storage Systems Market size is estimated to reach $32 billion by 2030, growing at a CAGR of 8.4% during the forecast period 2024-2030. Water storage systems are containers used to store water for later use. They come in all shapes and sizes, from small rooftop containers to large underground tanks. The water storage systems market is on the rise due to water scarcity, government regulations and incentives & growing need for water security. These factors are set to drive the growth of the Water Storage systems Market during the forecast period 2024-2030.

The water storage market is experiencing a surge of innovation in design, driven by the need for smarter, more sustainable, and efficient water management solutions. Innovations in tank design are enabling more efficient use of space and resources. Modular tanks, flexible bladder tanks, and collapsible tanks are gaining popularity for their adaptability to various industrial needs and constraints. These designs facilitate easy installation, expansion, and relocation, offering industries the flexibility to scale their water storage capacity in line with their operational demands and environmental conditions. These factors positively influence the Water Storage Systems industry outlook during the forecast period.

Market Snapshot:

Water Storage Systems Market- Report Coverage:

The “Water Storage Systems Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Water Storage systems Market.

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic has had a significant impact on the global Water Storage Systema market. Lockdowns, supply chain disruptions, and economic slowdowns caused by the pandemic led to delays in government scheme implementations, affecting the demand for Water Storage Systems. Additionally, stringent health and safety measures in industrial facilities and construction sites further slowed down the deployment of water storage systems.
• The war in Ukraine has also affected the Water Treatment System market. The conflict has caused disruptions in commodity markets and supply chains, leading to uncertainty and volatility. Instability in the region affects the availability of raw materials and increased production costs for Water Treatment System manufacturers. Furthermore, geopolitical tensions and trade disruptions could hamper market growth and investment in affected regions.

Key Takeaways:

Asia Pacific is the largest region 

The Asia Pacific (APAC) region is largest market for water storage systems with a market share of 35% in 2023 due to several factors that drive a high demand for water storage solutions. Water storage is crucial for regions like South Asia to deal with droughts and flood, both these natural disasters threaten the access to fresh water. Water storage is required for vital services such as provision of water for drinking, sanitation, hygiene, and irrigation, which in turn are crucial for human health, welfare, and food security. According to NASA’s Gravity Recovery and Climate Experiment (GRACE) mission, South Asia is one of the regions challenged by over-extraction of groundwater. As per The World Bank estimates India has just 11 days of water supply for every 100 days of demand. Therefore, the demand for water storage systems is very high in this region.

Hydraulic Fracture Storage and Collection is the largest

Hydraulic fracturing (fracking) operations require millions of gallons of water to fracture rock formations and release oil or gas. The United States Environmental Protection Agency estimated that the annual water usage for hydraulic fracking may be as high as 140 billion gallons. The growth of unconventional oil and gas extraction, particularly in regions like North America, has increased the number of fracking sites, driving the demand for water storage. Efficient water storage systems help minimize operational costs by ensuring a steady water supply, reducing logistical challenges and preventing delays. These factors make hydraulic fracturing the dominant application for water storage systems.

Concrete Tanks are most common

Concrete tanks can be used for a variety of purposes, including potable water storage, wastewater treatment, rainwater harvesting, and fire suppression. Their versatility makes them a popular choice across multiple applications. Concrete tanks can be constructed above or below ground and they come in a variety of sizes and capacities, and can either be pre-cast and delivered to the site or erected there itself, more over they are more long-lasting., these are all because the concrete’s use of reinforced steel that imparts maximum strength. Concrete doesn’t rust on its own, overall, it has excellent insulation qualities that keeps the water colder.

Water Scarcity to Drive Market Growth

Water scarcity is becoming an increasingly pressing issue in many parts of the world. According to Asian Development Bank report published in 2022, despite advances in the water sector of the Asia and Pacific region, almost 500 million people in the Asia and Pacific region do not have access to basic water supplies and 1.12 billion lack access to basic sanitation. In March 2022, the Singapore Government allocated $220 million under the Research, Innovation and Enterprise 2025 (RIE2025) Urban Solutions & Sustainability (USS) domain to drive new initiatives in water technologies and resource circularity. Such investments will boost the demand for water storage systemssand drive market growth during the forecast period.

Government Regulations and Incentives to Propel the Market Forward

Government regulations and incentives play a key role in driving the water storage systems market. Regulations often mandate stringent water management practices to ensure environmental protection, water conservation, and public health. Compliance with these regulations prompts industries, municipalities, and agricultural sectors to invest in reliable and compliant storage solutions. Governments also provide incentives to encourage investments in sustainable and innovative water storage solutions, promoting the adoption of systems like rainwater harvesting tanks, greywater recycling units, and large-scale reservoirs. For instance, in September 2022, the Odisha government started the community harnessing and harvesting of rainwater artificially from Terrace to Aquifer (CHHATA) scheme, aimed at rainwater harvesting. Under this scheme, there is a subsidy provision 50% of the cost of the rainwater harvesting system to encourage the public for adopting the scheme in their buildings.

Leakages and Algal Growth to Hamper Growth

Leakages and algal growth are two common problems that can plague water storage tanks. Leaks can develop due to various reasons like cracks or holes in the tank wall, caused by impact, corrosion, or faulty manufacturing, loose or improperly sealed fittings and connections at pipes, valves, or gauges or gasket deterioration over time, leading to leaks around access points like lids or hatches. According to the Environmental Protection Agency (EPA), the average home leaks around 10,000 gallons of water every year. Around 10% of households waste more than 90 gallons of water daily through minor leaks.  Algae thrive in warm, stagnant water with access to sunlight. If tanks are not properly maintained, algae can become a problem. Algae growth can clog filters and reduce water flow, impart a bad taste and odour to the water as well as release harmful toxins in some cases.
                         

Water Storage Systems Market: Market Share (%) by Geography, 2023
 

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Key Market Players: 

The top 10 companies in the Water Storage Systems Market are:

1. McDermott International Ltd.
2.  Ascent Industries Co
3. CST Industries, Inc.
4.  DN Tanks
5. Sintex Plastics Technology Limited
6.  Caldwell Tanks
7.  National Oilwell Varco (NOV)
8. Balmoral Tanks Limited
9. Snyder Industries
10. Enduramaxx Limited

Scope of Report: 

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