DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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.
- This report covers the North America water storage systems market based on material, application, end-use industry, and country.
- The 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.
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 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.
Fiberglass segment is projected to grow at the highest CAGR in the North America water storage systems market during the forecast period
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.
Hydraulic fracture storage & collection is the largest application and is expected to drive the market during the forecast period
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 projected to grow at the highest CAGR in the North America water storage systems market during the forecast period
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.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Water Storage Systems Market
4.2 North America Water Storage Systems Market, By End Use Industry
4.3 North America Water Storage Systems Market, By Application
5 Market Overview
5.1 Market Dynamics
18.104.22.168 Rapidly Increasing Population
22.214.171.124 Limited Availability of Water
126.96.36.199 High Cost of Maintenance
188.8.131.52 Focus on Recycling and Reuse
184.108.40.206 Increasing Capital Expenditure for Water Infrastructure
220.127.116.11 Increasing Number of Desalination Plants
18.104.22.168 Financing Gaps for Maintenance
5.2 Porter's Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Threat of Substitutes
5.2.3 Bargaining Power of Suppliers
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Competitive Rivalry
6 Industry Trends
6.2 Value Chain Analysis
7 North America Water Storage Systems Market, By Material
8 North America Water Storage Systems Market, By Application
8.2 Hydraulic Fracture Storage & Collection
8.3 On-Site Water & Wastewater Collection
8.4 Potable Water Storage
8.5 Fire Suppression Reserve & Storage
8.6 Rainwater Harvesting & Collection
9 North America Water Storage Systems Market, By End Use
10 Regional Analysis
10.1.1 North America Water Storage Systems Market, By Country
10.1.2.1 Aging Water Infrastructure and Significant Capital Investment for Infrastructure Improvements Will Drive Water Storage Systems Market
10.1.3.1 Lack of Investment in Water Infrastructure Will Restrain Market Growth During the Forecast Period
10.1.4.1 Rainwater Harvesting to Cope With Severe Water Scarcity and the Use of Plastic Water Tanks in Residential Households Will Drive Market Growth
11 Company Profiles
11.1 CST Industries Inc.
11.2 ZCL Composites, Inc.
11.3 Synalloy Corporation
11.4 AG Growth International Inc.
11.5 Grupo Rotoplas S.A.B. De C.V.
11.6 Mcdermott International Inc.
11.7 BH Tank
11.8 Fiber Technology Corporation
11.9 Caldwell Tanks
11.10 Containment Solutions Inc.
11.11 Maguire Iron Inc.
11.12 Snyder Industries
11.13 Crom Corporation
11.14 Tank Connection
11.15 Contain Enviro Services Ltd.
11.16 HMT LLC
11.17 DN Tanks
For more information about this report visit https://www.researchandmarkets.com/r/surf1b