Stratview Research has launched a new report on the Water Storage Systems Market, which is segmented by Material Type (Concrete, Steel, Plastic, Fiberglass, and Others [Collapsible Tanks, Wood Tanks, and Open-Lined Pits]), by Application Type (Hydraulic Fracture Storage & Collection, Onsite Water & Wastewater Collection, Potable Water Storage System, Fire Suppression Reserve & Storage, Rainwater Harvesting & Collection, and Others [Irrigation, Secondary Containment Systems, and Marine Applications]), by End-Use Industry Type (Municipal, Industrial, Commercial, and Residential), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
According to the report published by Stratview Research, Water storage systems market is likely to witness an impressive CAGR of 5.1% during the forecast period. Rapid growing urbanization along with imposition of stringent regulations for conservation of water is the major key driver that is contributing to the demand for water storage systems, globally.
This 100+ page report on the Water Storage Systems Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Water Storage Systems Market. The report intends to present a thorough analysis of the Water Storage Systems Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
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Water storage systems include containers for storing water. These systems are used to provide storage of water for use in many applications such as municipal, residential, commercial, and industrial.
Water Storage Systems Market Outlook:
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Water Storage Systems Market Share: By Material Type
Based on the material type, the market is segmented as concrete, steel, plastic, fiberglass, and others. The concrete segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. Durability and corrosion resistant properties of concrete is driving the growth of this segment.
Water Storage Systems Market Share: By Application Type
Based on the application type, the market is segmented as hydraulic fracture storage & collection, onsite water & wastewater collection, potable water storage system, fire suppression reserve & storage, rainwater harvesting & collection, and others. The hydraulic fracture storage & collection segment accounted for the largest share of the market in 2020, and is expected to maintain its dominance during the forecast period. The growth of the segment is driven by increasing oil explorations.
Water Storage Systems Market Share: By End-Use Industry Type
Based on the end-use industry type, the water storage systems market is segmented as municipal, industrial, commercial, and residential. The municipal segment dominates the market on account of global water scarcity. Further, growing population and increasing urbanization are likely to propel the segment’s growth during the forecast period.
Water Storage Systems Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for water storage systems during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the increasing government initiatives to conserve water as well as rapidly growing industrial, commercial, and residential developments in emerging economies of the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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