The municipal industry is the major consumer of water storage systems

The global water storage systems market size is estimated to be USD 15.6 billion in 2019 and projected to reach USD 20.5 billion by 2024, growing at a CAGR of 5.6% from 2019 to 2024. Rapidly increasing population, water scarcity, ineffective water management, recycling of industrial wastewater, increasing urbanization, stringent regulation for conservation & consumption of water, and falling levels of rainfall are among major drivers for the growth of the water storage systems industry.

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Based on the end-use industry, the market has been classified into municipal, industrial, commercial, and residential. In terms of value, municipal water storage systems accounted for the largest share in the water storage systems market. This growth can be attributed to the rapidly increasing population, rapid urbanization, and increasing water scarcity. The residential end-use industry is projected to register the highest CAGR during the forecast period.

The water storage systems industry is divided into hydraulic fracture storage & collection, on-site water & wastewater collection, potable water storage systems, fire suppression reserve & storage, rainwater harvesting & collection, and others. The other applications of water storage tanks include irrigation, secondary containment systems, and marine applications. Increasing oil & gas exploration activities around the globe with major ongoing projects such as Zubair Oil Field-Rehabilitation Phase (RP) and Enhanced Re-Development Phase in Iraq, East Natuna Block (Natuna D-Alpha) project in Indonesia and others are expected to drive the growth of hydraulic fracture storage & collection water storage systems market.

Asia Pacific is the largest consumer of water storage systems and is expected to grow at the highest CAGR during the forecast period. The increasing scarcity of water, ineffective utilization of water, inefficient recycling of industrial wastewater for reuse, rapidly increasing population & urbanization, stringent regulations for water conservation and discharge, and the changing climatic conditions, among others, are some of the main factors driving the regional growth.

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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Wastewater treatment segment is projected to lead the self-cleaning filters market

The self-cleaning filters market is estimated to be USD 5.03 Billion in 2017, and is projected to reach USD 7.18 Billion by 2022, at a CAGR of 7.4% from 2017 to 2022. This growth is mainly attributed to the increased demand for self-cleaning filters from various end-use industries. The self-cleaning filters are increasingly preferred by various industries, as they help save energy, ensure automatic backwashing, increase lifespan of filters, reduce shutdowns, and ensure effortless management of high-level contamination, thereby accelerating the production output.

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Self-cleaning filters are used in wastewater treatment for ammonia, phosphate, chlorine, and turbidity analysis. The use of self-cleaning filters ensures a low maintenance of the analytical equipment. self-cleaning filters in the wastewater treatment help in reduction of Biochemical Oxygen Demand (BOD) and Total Suspended Solids (TSS). Self-cleaning filters are preferred for filtration of sewage treatment plants.

The Asia-Pacific self-cleaning filters market is projected to grow at the highest CAGR during the forecast period. Increasing industrialization and infrastructural developments in the region offers growth opportunities to the self-cleaning filters market. Asia-Pacific is the largest consumer of self-cleaning filters in the world. In order to meet this growing demand for self-cleaning filters, top manufacturers of filters from the U.S. and Europe are focusing on the Asia-Pacific region to expand their businesses. It is expected that there would be in an increase in the adoption of water treatment technologies in the Asia-Pacific region during the forecast period. This increased adoption of water treatment technologies can be attributed to the expansion of power generation sector and an increase in the number of municipal water treatment plants in the region.

High cost of installation and manufacturing of self-cleaning filters for various end-use industries are expected to act as restraints for the growth of the self-cleaning filters market during the forecast period.

Eaton Corporation plc (Ireland), Parker Hannifin Corporation (U.S.), Alfa Laval AG (Sweden), Amiad Water Systems Ltd. (Israel), 3M Company (U.S.), Baleen Filters Pty. Ltd. (Australia), The Dow Chemical Company (U.S.), Oxford Filtration Limited (U.K.), Pall Corporation (U.S.), Cummins, Inc. (U.S.), HYDAC Filter System GmbH (Germany), JUDO Water Treatment GmbH (Germany), VAF Filtration Systems (U.S.), Morrill Industries, Inc. (U.S.), SCAM Filters (Filters), Forsta Filters, Inc. (U.S.), STF Filtros (Spain), Georg Schünemann GmbH (Germany), and Orival Inc.(U.S.), among others, are the key companies operating in the self-cleaning filters market. These players, with a wide market reach and established distribution networks, are investing increasingly in research & development activities for development of new self-cleaning filters. They also have strong technical and market development capabilities, which enable them to upgrade their existing products for new applications.

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CST Industries, Inc. (US) and McDermott International, Inc. (US) are the Leading Players in the Water Storage Systems Market

In terms of value, the global water storage systems market size is estimated to be USD 15.6 billion in 2019 and projected to reach USD 20.5 billion by 2024, growing at a CAGR of 5.6% from 2019 to 2024. Rapidly increasing population, water scarcity, ineffective water management, recycling of industrial wastewater, increasing urbanization, stringent regulation for conservation & consumption of water, and falling levels of rainfall are among major drivers for the growth of the water storage systems industry.

Major companies operating in the water storage systems market include 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), among others. Moreover, these companies hold a potential share in the water storage systems industry.

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CST Industries, Inc. (US) is one of the leading players in the water storage systems market, which has been adopting inorganic strategies to sustain their market position. For instance, 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 & 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. Moreover, in January 2018, the company announced the expansion of its product portfolio with pre-configured epoxy coated storage tank systems. The company launched Vulcan; a pre-engineered, pre-configured flat panel bolted storage tank line. The storage tank is made available in capacities of 15 cubic meters to 3,000 cubic meters and is designed specifically for the municipal water, wastewater, and fire protection markets.

McDermott International, Inc. (US) is another major company in the water storage systems industry. It has been adopting organic and inorganic strategies to sustain its position in the water storage systems market. For instance, in May 2018, McDermott International acquired Chicago Bridge & Iron Company N.V. (CB&I), 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 CB&I has transformed McDermott International, Inc. into a top -tier, integrated provider of engineering and construction solutions for the energy industry.

Water Storage Systems Market- Key Driving Factors

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. Major drivers of the water storage systems industry include the rapidly growing population, water scarcity, stringent regulation for conservation & consumption for water and others.

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Hydraulic fracture storage & collection application is projected to lead the water storage systems market

Based on the application, 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. The other applications of water storage tanks include irrigation, secondary containment systems, and marine. Among these, hydraulic fracture storage & collection accounted for the largest share in 2018. This growth is attributed to the increasing oil & gas activities around the globe, coupled with the rising environmental concerns regarding the availability of water resources for future generations.

Recent Developments 

• 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.
• In May 2018, McDermott International acquired Chicago Bridge & Iron Company N.V. (CB&I), 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 CB&I has transformed McDermott International, Inc. into a top -tier, integrated provider of engineering and construction solutions for the energy industry.

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Asia Pacific is projected to be the largest consumer of water storage systems during the forecast period.

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.

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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