Water Storage System Market to reach $32 billion by 2030; rising water scarcity, government regulations and incentives and the growing need for water security drive the market.

Water Storage Systems Market size is estimated to reach $32 billion by 2030, growing at a CAGR of 8.9% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Water Storage System Market – By Type (Potable Water Storage Systems, Non-Potable Water Storage Systems), By Material (Fiberglass, Concrete, Metal, Plastic, Others), By Storage Capacity(Up to 1,000 Gallons, 1,000 to 10,000 Gallons, More than 10000 Gallons), By Installation (Underground, Above Ground), By Application(Onsite Water & Wastewater Collection, Rainwater Harvesting and Collection, Fire Suppression Reserve and Storage, Hydraulic Fracture Storage and Collection, Agricultural Irrigation Storage, Emergency Water Storage, Others), By End Use Industry (Residential, Agriculture, Automotive, Chemical, Energy and Power, Food and Beverage, Electronics & ICT, Lifesciences and Healthcare, Aerospace and Defense, Mining, Oil & Gas, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

As the world is getting water stressed every passing day due to climate change, there is a growing need for water security where water storage systems play a key role. Additionally, government regulations and incentives related to water storage further augments the demand for water storage systems.

The Asia Pacific (APAC) region is largest market for water storage systems with a market share of 35% in 2023 due to several factors that drive a high demand for water storage solutions. According to the World Bank, India has 18% of the world’s population but only 4% of water resources. As the result the country is among the most water-stressed in the world. Asian countries face significant water scarcity issues driving the need for efficient water storage solutions. Additionally, government initiatives and investments in infrastructure development further boost the demand for water storage systems. The region's diverse climate, ranging from arid to tropical, necessitates robust water management strategies.

The growth of oil and gas extraction leads to an increase in the number of fracking sites. For instance, Pan American Energy SL Sucursal Argentina and Gas y Petróleo del Neuquén Sociedad Anónima gained approval from Argentina’s Neuquén provincial government for an exploration, development and production contract. Efficient water storage systems are crucial to manage the vast quantities of water required ensuring a steady supply for continuous operations. This increased demand underscores the importance of developing advanced storage technologies to support the growing needs of the hydraulic fracturing industry. 

Government regulations and incentives play a key role in driving the water storage systems market. Regulations often mandate stringent water management practices to ensure environmental protection, water conservation, and public health. Compliance with these regulations prompts industries, municipalities and agricultural sectors to invest in reliable and compliant storage solutions. For instance, in May 2024, Magnolia City Council awarded a $3.7 million contract for building a 500,000 gallons water storage tank to Landmark Structures, a company that specializes in designing, fabricating and constructing tanks and vessels. Since 2022 the city had been dealing with water shortage and in 2023, the city started adding several water wells in an effort to meet the demand for water. Governments are also providing incentives to encourage investments in sustainable and innovative water storage solutions thereby promoting the adoption of systems like rainwater harvesting tanks, greywater recycling units and large-scale reservoirs.

Key companies profiled in the Water Storage System Market are McDermott International Ltd., Ascent Industries Co, CST Industries, Inc., DN Tanks, Sintex Plastics Technology Limited, Caldwell Tanks, National Oilwell Varco (NOV), Balmoral Tanks Limited, Snyder Industries, Enduramaxx Limited and others.

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