Global Septic Tanks Market Report 2023: Higher Demand For Storage Tanks Due To Water Shortage To Drive Growth

(MENAFN- globenewswire - nasdaq) dublin, june 28, 2023 (globe newswire) -- the "global septic tanks market by material (precast concrete, polymer, fiberglass), type (chambered, conventional, drip distribution), size (<1000, 1000-5000, 5000-10000, <10000 liters), application (residential, commercial, industrial), region - forecast 2027" report has been added to researchandmarkets's offering.

the septic tanks market is projected to grow from usd 4.6 billion in 2022 to usd 5.5 billion by 2027, at a cagr of 3.5% from 2022 to 2027.

increasing commercial and residential construction, as well as the expanding use of septic systems in rural regions, and developing countries provide growth opportunities and smart solutions for the septic tanks market.

by raw material, the precast concrete segment is estimated to be the fastest-growing segment of the septic tanks market from 2022 to 2027

based on raw-material, septic tanks made of precast concrete are regarded as one of the greatest solutions for on-site wastewater treatment systems because of its resilience, lifespan, water tightness, adaptability, and sustainability. their lengthy lifespan of 30 to 40 years or more is due to the fact that they are made to withstand adverse weather conditions, soil pressure, and seismic activity.

by application, commercial is estimated to be the fastest-growing segment of the septic tanks market from 2022 to 2027

based on application, the commercial is estimated to be the fastest-growing segment during the forecast period. septic tanks for commercial use are an important part of wastewater treatment for businesses, public buildings, and other non-residential establishments. commercial septic tank systems are an efficient and cost-effective way to handle wastewater in these buildings.

the septic tanks market in the asia pacific region is projected to witness the highest cagr during the forecast period

asia pacific region is projected to register the highest cagr in the septic tanks market from 2022 to 2027. asia pacific is one of the key markets for septic tanks. the region has high demand for septic tanks due to rising demand from various applications such as residential, commercial, and industrial.

key attributes:

report attribute	details
no. of pages	158
forecast period	2022 - 2027
estimated market value (usd) in 2022	$4.6 billion
forecasted market value (usd) by 2027	$5.5 billion
compound annual growth rate	3.5%
regions covered	global

premium insights

• higher demand for storage tanks due to water shortage to drive market during forecast period
• asia-pacific to grow at highest cagr during forecast period
• conventional septic systems to account for largest share by 2027
• residential applications accounted for largest share in 2021
• 1,000-5,000-liter size accounted for largest share in 2022
• residential and china accounted for significant shares in 2022

market dynamics

drivers

• increase in commercial and residential construction
• growth in adoption of septic systems in rural areas

restraints

• high cost of precast concrete septic tanks

opportunities

• need for safe disposal of wastewater in emerging economies
• smart solutions for septic systems

challenges

• environmental rules & regulations for installation and operations
• high prices of raw materials for septic systems

companies mentioned

• advanced drainage systems
• ak industries
• aplitec
• aquacell
• biodisk ab
• bioman
• biomicrobics inc.
• chem-tainer industries
• cultec inc.
• graf
• innovative water systems
• kingspan group
• klaro gmbh
• nijhuis industries
• norwesco
• old castle precast
• orenco systems
• polylok
• premier plastics
• protank
• simop
• snyder industries
• trumbull manufacturing
• wiefferink b.v.
• wieser precast concrete products

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