Water Storage Tanks Market Size and Growth Rate:
It is
expected that the world market for water storage tanks will grow at a CAGR of
3.8% between 2018 and 2023, reaching USD 14,000 million by 2023.
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Water Storage Tanks Market @
Water Storage Tanks Market Overview
The water storage tanks in the residential and
municipal sectors have been widely used due to water shortages in some areas.
The demand for reservoir systems has occurred in the commercial and industrial
sectors, especially in oil and gas refineries, because they require fresh water
and water recycled or treated for a variety of uses.
Water Storage Tanks Market Growth
Drivers and Restraints:
The rapid
growth of the population has increased the demand for potable water in national
companies and public facilities, as well as in urban and rural areas. Water
scarcity must be the most striking result of global warming. The global market
of reservoirs has grown as concerns for the conservative use of water due to
the lack of drinking water in many regions have increased. The increase in
water consumption in the industrial and commercial sectors also stimulated the
demand for reservoirs. The global exploration activities of oil and gas have
contributed to the demand for reservoir systems. This has had a positive impact
on the world market for water storage tanks. In addition, rapid population
growth is driving the demand for drinking water of public and national
services, as well as urban and rural areas. On the other hand, it is expected
that the funds needed to invest a lot of capital and install a reservoir system
will delay the growth of the world market in the future. However, it is
expected that the massive investment and the necessary financing to install
water storage systems will hinder the growth of the market in the near future.
The global market for water storage systems offers great opportunities for
growth, partly by focusing on reused and reused water from the industrial
sector. It is expected that the focus on innovation and the modification of
water storage systems will drive the market.
Water Storage Tanks Market
Gographical Segmentation:
The global
market for water storage tanks is divided into four major regions: Europe,
North America, Asia-Pacific and other regions. The economies developed in North
America and Europe have greatly contributed to the growth of the global market
for water storage systems. However, it is likely that global markets in
Asia-Pacific and other countries will expand, as the lack of drinking water
increases the awareness of water conservation in the region.
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Keyplayers of the Water Storage Tanks Market:
The
world's largest water storage tank market is Fiber Technology Corporation,
American Structures Inc., Pulsed Hydraulics Inc., Nora Water Technologies, AG
Growth International Inc., Synalloy Corporation, Aqua Dam Inc., Aqua Nishihara
Corporation Limited, DN Tank, Tank Corporation and GENMOD SERV.
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