Water Storage Systems Market Global Forecast to 2024 | MarketsandMarkets

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Water Storage Systems Market worth 20.5 billion
by 2024
The report "Water Storage Systems Market by
Material (Concrete, Steel, Plastic, Fiberglass),
Application, End-use Industry (Municipal,
Industrial, Residential, Commercial), and Region
(North America, Europe, APAC, MEA, South America)
- Global Forecast to 2024" The global water
storage systems market size is expected to grow
from USD 15.6 billion in 2019 and is projected to
reach USD 20.5 billion by 2024, at a CAGR of 5.6
from 2019 to 2024.
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Introduction
Rapidly increasing population urbanization,
recycling of industrial wastewater, water
scarcity, ineffective water management, stringent
regulation for conservation consumption of
water, and falling levels of rainfalls are the
significant drivers for the growth of the water
storage systems industry. The water storage
systems industry is segregated into hydraulic
fracture storage collection, onsite water
wastewater collection, potable water storage
systems, fire suppression reserve storage,
rainwater harvesting collection, and others. 
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Recent Developments

• In May 2018, McDermott International acquired
  Chicago Bridge Iron Company N.V. (CBI),
  headquartered in Hague, the Netherlands, a
  leading provider of conceptual design,
  technology, engineering, procurement,
  fabrication, modularization, construction,
  commissioning, maintenance, program management,
  and environmental services to customers in the
  energy and infrastructure market.  This business
  combination with CBI has transformed McDermott
  International, Inc. into a top?-tier, integrated
  provider of engineering and construction
  solutions for the energy industry.
• In April 2019, CST Industries, Inc. partnered
  with Greatario Engineered Storage Systems, an
  established and recognized market leader in
  Ontario, Canada, to design and build bolted steel
  tanks and covers for liquid storage. With this
  partnership, CST Industries intends to expand its
  Aquastore brand of storage tanks in six province
  territories in the western region of Canada,
  including British Columbia, Alberta,
  Saskatchewan, Manitoba, Yukon, Northwest
  Territories, and Nunavut.

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Key Questions Addressed by the Report

• What are the future revenue pockets in the water
  storage systems industry?
• Which key developments are expected to have a
  long-term impact on the water storage systems
  market?
• Which materials and applications are expected to
  cannibalize existing markets? 
• How is the current regulatory framework expected
  to impact the market?
• What will be the future product mix of the water
  storage systems industry?

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Most active players in the modular chillers
market
Key players in the water storage systems market
are CST Industries, Inc. (US) and McDermott
International Inc. (US), Containment Solutions
Inc., (US), DN Tanks (US), Caldwell Tanks (US),
Balmoral Tanks Limited (UK), and Synalloy
Corporation (US) and 18 others are considered for
the study.  
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On The Basis Of Region
Asia Pacific is projected to be the largest
consumer of water storage systems By region, the
industry is segregated into Asia Pacific, the
Middle East Africa, North America, Europe, and
South America. Among these, Asia Pacific is
expected to lead the water storage systems market
during the forecast period. This growth is
attributed to the scarcity of water, ineffective
utilization of water, inefficient recycling of
industrial wastewater for reuse, rapidly growing
population urbanization, stringent regulation
for water conservation discharges into the
environment, and falling levels of rain, among
others.
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