Market Research Report
North America Water Storage Systems Market by Material (Concrete, Steel, Plastic, Fiberglass), Application, End-Use Industry (Municipal, Industrial, Residential, Commercial), and Country (United States, Canada, and Mexico) - Forecast to 2024
|Published by||MarketsandMarkets||Product code||276768|
|Published||Content info||106 Pages
Delivery time: 1-2 business days
|North America Water Storage Systems Market by Material (Concrete, Steel, Plastic, Fiberglass), Application, End-Use Industry (Municipal, Industrial, Residential, Commercial), and Country (United States, Canada, and Mexico) - Forecast to 2024|
|Published: December 17, 2019||Content info: 106 Pages||
"In terms of value, the North America water storage systems market is projected to grow at a CAGR of 4.4% between 2019 and 2024."
In terms of value, the North America water storage systems market size is estimated to be USD 3.4 billion in 2019 and projected to reach USD 4.1 billion by 2024, growing at a CAGR of 4.4% from 2019 to 2024. Aging infrastructure, significant capital investment, stringent regulations for the conservation & consumption of water, recycling industrial wastewater, and rainwater harvesting are among the major drivers for the growth of the North America water storage systems market.
The fiberglass material segment is projected to grow at the highest CAGR in the North America water storage systems market during the forecast period. Fiberglass is a tough plastic matrix and has superior properties such as high mechanical strength, non-deterioration, and non-corrosiveness, which are expected to fuel the growth of this segment. Storage tanks made from fiberglass are manufactured with food-grade coating on their interior surfaces, which enables maintaining stored water in a potable condition for longer periods of time.
Based on application, hydraulic fracture storage & collection is projected to be the largest application segment in the North America water storage systems market, owing to increasing oil & gas activities in the region. Oil & natural gas are important resources, helping countries in North America to meet their demand for energy. In compliance with various environmental and governmental rules & regulations in the North America region, water used in the oil & gas industry is required to be treated for further reuse or for release purposes.
Mexico is an emerging market for water storage systems in the North America region in comparison to the US. Foreign investments are expected to increase in Mexico in the near future, as global players from the water treatment industry are benefiting from the low-cost raw materials and labor, thus making the market competitive. A large number of companies are entering the Mexican upstream sector due to significant opportunities in the power & gas sectors. The scope for oil production and water treatment activities in Mexico are high. These factors are expected to drive the water storage systems market in Mexico during the forecast period.
The leading North America water storage systems manufacturers profiled in this report are: CST Industries, Inc. (US), McDermott International Inc. (US), Containment Solutions Inc. (US), DN Tanks (US), Caldwell Tanks (US), Synalloy Corporation (US), and others.
The report covers the North America water storage systems market based on material, application, end-use industry, and country. This report aims at estimating the size and future growth potential of the North America water storage systems industry across various segmentations. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
From an insight perspective, this report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the North America water storage systems market, high-growth countries, and drivers, restraints, opportunities, and challenges in the market.
The report provides insights on the following pointers:
the use of plastic water tanks in residential households will drive market growth
(Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view)*
Details on Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.