Press release
Water Storage Systems Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
"The new report published by The Business Research Company, titled Water Storage Systems Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, the water storage systems market size has grown strongly in recent years. It will grow from $17.59 billion in 2023 to $18.85 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The water storage systems market size is expected to see strong growth in the next few years. It will grow to $24.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
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Driving Forces Behind Water Storage Systems Market Growth
A rise in demand for freshwater is expected to propel the growth of the water storage systems market going forward. Any naturally occurring liquid, including frozen water, that contains trace levels of dissolved salts and other total dissolved solids are referred to as freshwater. Water storage systems are used to store fresh water. For instance, in October 2022, according to the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, the provision of clean drinking water services had increased to 74% in 2020, and global water efficiency grew by 12%. Further, the global water demand for agriculture is expected to increase by 19% by 2050 from current levels and 10 billion tons of freshwater globally. Therefore, the rise in demand for freshwater is driving the growth of the water storage systems market going forward.
Innovative Evolution Reinventing Water Storage Systems With Advanced Products
Product innovation is a key trend gaining popularity in the water storage systems market. Companies operating in the water storage systems market are innovating new products to sustain their position in the market. For instance, in January 2022, Prayag, an Indian-based manufacturer of water storage tanks, launched Strudy water tanks. Sturdy water tanks possess the rare twin benefits of being lighter and far more durable than other common tanks. It is uniquely designed with roto-molding technology, and they contain strong exterior corners and ribs that are an essential aspect of the design for additional strength. Additionally, the tier's special lid makes sure that the tanks are kept securely screwed shut and sealed for safety. associated with performance, reliability, and quality. In addition to their durability, these tanks are distinguished by having air vents on both sides of the lid, which keep the water cool and odorless. The product line is available in a variety of sizes with storage capacities ranging from 500 liters to 5000 liters, and it has a 7- to 10-year warranty.
The water storage systems market covered in this report is segmented -
1) By Material: Steel, Fiberglass, Concrete, Plastic, Other Materials
2) By Location: Underground, Indoor, Outdoor
3) By Application: Hydraulic Fracture Storage And Collection, Onsite Water And Wastewater Collection, Potable Water Storage Systems, Fire Suppression Reserve And Storage, Rainwater Harvesting And Storage, Other Applications
4) By End-User: Residential, Commercial, Municipal, Industrial
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Major companies operating in the water storage systems market report are CST Industries Inc., ZCL Composites Inc., Ascent Industries Co, Ag Growth International, McDermott International Ltd, BH Tank Inc., Fiber Technological Corporation, Caldwell Tanks Inc., Containment Solutions Inc., DN Tanks Inc., Synder Filtration Inc., Tank Connection LLC, Superior Tanks Co Inc., Balmoral Tanks Ltd., Maguire Iron Inc., Aquamate LLC, Norwesco Industries Inc., Enduraplas Inc., Pioneer Water Tanks America Inc., Waterplex Group Pty Ltd., Premier Tech Aqua, Water Storage Australia Pty Ltd., Bushman Tanks, Polymaster Group, JoJo Tanks Ltd., National Storage Tank Inc., Rainwater Management Solutions Inc., Waterworks Technologies Inc., Paul Mueller Company
Contents of the report:
1. Executive Summary
2. Water Storage Systems Market Report Structure
3. Water Storage Systems Market Trends And Strategies
4. Water Storage Systems Market - Macro Economic Scenario
5. Water Storage Systems Market Size And Growth
…..
27. Water Storage Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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