New York, NY, May 13, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Water Storage Systems Market by Tank Type (Concrete, Metal, Plastic, Fiberglass, and Others) and by Application (Residential, Industrial, Municipal, and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global water storage systems market was approximately USD 11.83 billion in 2018 and is expected to generate around USD 15.38 billion by 2025, at a CAGR of around 3.72% between 2019 and 2025.
Water is an essential commodity in our day-to-day operations. With groundwater scarcity, it has become important to store water. Thus, the need for water storage system arises. The global water storage systems market is likely to experience significant growth in the future, owing to the growing scarcity of water, which is a global issue. The demand for water storage systems is likely to increase in the years ahead to store water. Furthermore, the increased use of water in various industrial applications is also projected to boost the water storage systems market development. With the increase in consumer knowledge regarding the use of clean drinking water around the world and various government-sponsored programs regarding the same (Swachh Bharat Abhiyan (Clean India Mission) in India), will further influence the demand for water storage systems. Moreover, the increase in the adoption of plastic tanks in developing countries is also fuelling the water storage systems market. However, the high installation costs associated with the water storage systems may hamper the market growth in the future.
Browse through 29 Tables & 19 Figures spread over 110 Pages and in-depth TOC on “Global Water Storage Systems Market: By Type, Application, End-Use, Industry Size, Trends, Share and Forecast, 2018–2025”.
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Based on type, the water storage systems market is segmented into plastic tanks, metal tanks, concrete tanks, fiberglass tanks, and others. Plastic tanks are expected to dominate the global market in the years ahead, owing to the rising adoption of plastic tanks due to their various advantages, such as flexibility, over conventional water tanks. By application, the water storage systems market is categorized into industrial, residential, municipal, and commercial. The industrial segment is expected to dominate the market in the future, owing to the high demand for freshwater in various industrial applications.
By region, North America held an extensive share of the global water storage systems market in 2018 and is expected to continue its regional authority in the upcoming years as well. This regional growth can be attributed to the rising oil and gas exploration activities in the Gulf region. Furthermore, the region is the largest producer of shale gas, which will further foster the need for water storage systems in the region, and in fuel the North American water storage systems market growth in the future.
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The Asia Pacific region is expected to register the highest growth rate in the global water storage systems market over the estimated timeframe, owing to the rising demand for potable water by the residential sector for domestic uses of water. This rising water demand is due to the growing population in the region.
Europe is expected to provide significant growth opportunities for the global water storage systems market in the future, owing to the increasing adoption of plastic water tanks across the region and stringent government rules and regulations regarding storage and quality monitoring of water.
Browse the full “Water Storage Systems Market by Tank Type (Concrete, Metal, Plastic, Fiberglass, and Others) and by Application (Residential, Industrial, Municipal, and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/water-storage-systems-market
Some major players operating in the global water storage systems market include AG Growth International, Synalloy Corporation, Aqua Dam, Fiber Technology Corporation, American Structures, Aqua Nishihara Corporation Limited, DN Tanks, Pulsed Hydraulics, De Nora Water Technologies, Superior Tank, and GenMod.
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This report segments the global water storage systems market as follows:
Global Water Storage Systems Market: Tank Type Analysis
- Concrete
- Fiberglass
- Metal
- Plastic
- Others
Global Water Storage Systems Market: Application Analysis
- Residential
- Industrial
- Commercial
- Municipal
Global Water Storage Systems Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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