Water Storage Systems Market worth $25.1 billion by 2027 | Key players CST Industries Inc., ZCL Composites Inc., Synalloy Corporation, BH Tank, Caldwell Tanks.

According to recent market research the "Water Storage Systems Market by Material (Steel, Fiberglass, Concrete, Plastic), Application, End Use (Residential, Commercial, Industrial, and Municipal), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2027", Water storage systems market size is projected to reach USD 25.1 billion by 2027 from USD 16.5 billion in 2022 growing at a CAGR of 8.7%. Based on material, the concrete segment is expected to be the largest segment during the forecast period. Concrete water storage systems can be used for long periods due to their superior strength, non-corrosive properties, and durability. These tanks are environment-friendly and are used for both residential and commercial purposes as 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 & prevention, community water storage systems, agriculture irrigation, winery production, ranch & livestock water supply, and landscape water storage, among others.

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Based on application, the water storage systems market is segmented into Hydraulic fracture storage & collection, Onsite water & wastewater collection, Potable water storage systems, Fire suppression reserve & storage, Rainwater harvesting & collection, and Others (irrigation, secondary containment systems, and marine). After the COVID-19 crisis caused an unexpected drop in demand in 2020, global oil markets are rebalancing. The world economy and oil markets are recouping from the record drop in demand induced by the COVID-19 pandemic. The massive inventory excess that accumulated in 2020 is being depleted, and global oil stockpiles, excluding strategic reserves, reverted to pre-pandemic levels in 2021. Water used in the oil & gas sector should be processed for reuse or discharge in accordance with various environmental and regulatory norms and regulations. Oil and natural gas are valuable commodities that enable diverse countries to satisfy their energy needs. Natural gas, combined with coal and oil, accounts for 85% of total energy consumption in the US. However, as traditional resources become scarce, there has been a greater emphasis on unconventional sources such as shale gas, tight sands, and coal bed methane.

According to the EPA (United States Environmental Protection Agency), coal mining will contribute to around 10% of worldwide methane emissions in 2030. A significant number of these emissions are produced by major coal-producing countries such as China, Russia, the US, India, and Australia. The EPA predicts that a suite of existing technologies may save around 64% of estimated 2030 emissions; this abatement potential is expected to stay steady through 2050. The international coal market thus offers considerable business opportunities for U.S. vendors, project developers, and other partners. This will boost the demand of hydraulic fracture storage & collection over the forecasted period.

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The Asia Pacific region is the largest market for water storage systems across the globe. The market in the Asia Pacific has been studied for China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific (Thailand, Taiwan, Indonesia, and 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 close to double-digit GDP growth in recent years, as well as a population boom. The river basins in the countries are unable to meet the water demand of these heavily populated countries. Additionally, socioeconomic factors cause a rise in population, which is expected to lead to the scarcity of water in the Asia Pacific region. The fluctuating levels of rainfall in some countries of Asia Pacific have also led to water scarcity, which is expected to increase the demand for water storage systems soon.
Major players operating in the water storage systems include CST Industries Inc. (US), ZCL Composites Inc. (Canada), Synalloy Corporation (US), AG Growth International Inc. (Canada), McDermott International Inc. (US), BH Tank (US), Fiber Technology Corporation (US), Caldwell Tanks (US), Containment Solutions Inc. (US), and Maguire Iron Inc. (US).

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CST Industries Inc is a key player in the water storage systems market. The CST Industries, Inc. is a global leader in storage tanks & covers and provides complete storage systems for engineering and manufacturing customers across different end-use industries. The company specializes in the manufacturing of factory-coated metal storage tanks, aluminum domes, and specialty covers. It operates five manufacturing facilities & technical design centers and multiple regional sales offices in North America and Europe.
• In September 2021, CST Industries Inc announced a collaboration with Adam Brothers Inc, CST Industries, Inc. (CST) announced the strategic territory expansion with Adams Brothers, Inc. Adam Brothers is based in Atlanta, Georgia, specializing in process equipment to the dry bulk industry. The company has been representing CSTs iconic industry-leading epoxy coated bolted and welded storage solutions, TecTank (formerly known as Peabody TecTank and Columbian TecTank), for over six decades. Under this new agreement, Adams Brothers will be responsible for an additional two states in the eastern region of the US, Virginia, and North Carolina. Its offerings in the new territory will include construction services.

McDermott International, Inc is the second most active company in the water storage systems market. McDermott International, Inc. is a multinational, fully integrated provider of technology, engineering, and construction solutions to the energy, power, industrial, and water & wastewater sectors. The company's global product line includes offshore & subsea systems, downstream processing, LNG, power, industrial storage, and pipe fabrication.
The company serves global customers through five business segments: North, Central, and South America (NCSA); Europe, Africa, Russia, and Caspian (EARC); the Middle East and North Africa (MENA); Asia Pacific (APAC); and Technology.
• In May 2018, McDermott International acquired Chicago Bridge & Iron Company N.V. (CB&I), headquartered in Hague, The Netherlands, a leading provider of conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management, and environmental services in the energy and infrastructure market. This business combination with CB&I has transformed McDermott International, Inc. into a top-tier, integrated provider of engineering and construction solutions for the energy industry.

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