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Research Nester published a report titled “Water Storage Systems market : Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global water storage systems market in terms of market segmentation by material, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global water storage systems market is foreseen to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The shortage of water on a global level, is anticipated to be the major growth driver for this market. As the population is growing, the demand for water is also increasing, however, the supply of clean and usable water is rapidly decreasing owing to the increasing water pollution. To meet the ever-increasing demand of water, governments of various developing countries are building water storage systems to supply water in rural as well as urban areas. This is estimated to boost the market growth. Large amount of water is required in various industries as well, which is estimated to further encourage the market growth. Moreover, increasing awareness amongst the people to conserve water is also expected to propel the market growth.
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The global water storage systems market is by end-user into residential, municipal, industrial, and others, out of which, the municipal segment is projected to garner significant share over the forecast period, on the back of increasing government investment in building water storage systems for mass supply. The industrial segment is also expected to gain modest share owing to the need for large quantity of water in industries, such as, chemical, oil & gas and others.
On the basis of geographical analysis, the global water storage systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to garner notable share during the forecast period owing to the increasing concerns among the governments in countries, such as, Indonesia, India, and Bangladesh to provide drinking water to the masses. Moreover, people are adopting rainwater harvesting systems by building water storage tanks in their houses, which is estimated to boost the market growth. Presence of various industries, and industrial development in the region is also expected to boost the regional market growth.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Increasing Water Consumption and Shortage of Water to Boost the Market Growth
According to the UNICEF, two thirds of the global population does not have proper access to water. Over two billion people live under inadequate water supply every year.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The consumption of water is growing, owing to the rise in population and urbanization, which has created a gap between the demand and supply of water. This gap is widening due to pollution, wastage of water, and lack of proper infrastructure for the supply of water. The government is increasingly focusing on filling this gap, which is estimated to boost the market growth.
However, slow adoption of the storage systems is expected to operate as key restraint to the growth of the global water storage systems market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global water storage systems market which includes company profiling of DN Tanks Inc., AQUA Nishihara Corporation, AG Growth International, Inc., Pulsed Hydraulics Inc., Industrie De Nora S.p.A., GE Group, Superior Tank Co., Inc., American Structures, Inc., Fiber Technology Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global water storage systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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