Water storage systems are structures or technologies used to store water for later use. These systems can range in size from modest domestic tanks to big municipal reservoirs, and they can be composed of a number of materials including concrete, plastic, steel, or fiberglass.

The report "Water Storage Systems Market by Material (Steel, Fiberglass, Concrete, Plastic), Application, End Use (Residential, Commercial, Industrial, and Municipal), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2027", Water storage systems market size is projected to reach USD 25.1 billion by 2027 from USD 16.5 billion in 2022 growing at a CAGR of 8.7%.

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The concrete segment is the fastest-growing material segment during the forecast period.

During the forecast period, the concrete segment is the fastest-growing material segment in the water storage systems market. Concrete is a long-lasting and robust material that is frequently utilized in the construction sector, notably for water storage systems. Concrete water storage systems are widely employed in municipal and industrial applications due to their strength, durability, and corrosion resistance. They can be built in a variety of shapes and sizes to fulfill individual needs, and they can be built to withstand high water pressure and seismic activity.

The hydraulic fracture storage & collection segment to lead the water storage systems market during the forecast period.

The hydraulic fracture storage and collection segment would lead the water storage systems market since it relates to a specific application of water storage systems rather than a type of storage system itself. Hydraulic fracturing, usually known as fracking, is a technique used in the oil and gas industry to extract oil and gas from shale rock formations. This method includes injecting a high-pressure mixture of water, sand, and chemicals into the rock formation, which causes fractures that allow the oil and gas to flow more freely.

Water is an essential component of the fracking process, and vast amounts of water are needed for each well. Storage and collection systems are required to collect and store the water utilized during the operation in order to handle the massive amounts of water used in fracking.

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According to the EPA (United States Environmental Protection Agency), coal mining will contribute to around 10% of worldwide methane emissions in 2030. A significant number of these emissions are produced by major coal-producing countries such as China, Russia, the US, India, and Australia. The EPA predicts that a suite of existing technologies may save around 64% of estimated 2030 emissions; this abatement potential is expected to stay steady through 2050. The international coal market thus offers considerable business opportunities for U.S. vendors, project developers, and other partners. This will boost the demand of hydraulic fracture storage & collection over the forecasted period.

Asia Pacific water storage systems market is estimated to register the highest CAGR during the forecast period.

During the forecast period, the Asia Pacific water storage systems market is expected to grow at the fastest CAGR. This can be ascribed to a variety of factors, including rising demand for water storage systems in agriculture and industry, as well as the region's growing population and urbanization. Water storage systems are used in agriculture for irrigation and to maintain a consistent supply of water for crops. Agriculture is a substantial contributor to the economies of many Asia Pacific countries, hence the demand for water storage systems is likely to rise. Furthermore, the region's industrial sector is expanding rapidly, necessitating the use of water storage systems for a variety of applications such as cooling, processing, and cleaning. Water storage systems are projected to become more popular as companies require significant amounts of water.

Major players operating in the water storage systems include CST Industries Inc. (US), ZCL Composites Inc. (Canada), Synalloy Corporation (US), AG Growth International Inc. (Canada), McDermott International Inc. (US), BH Tank (US), Fiber Technology Corporation (US), Caldwell Tanks (US), Containment Solutions Inc. (US), Maguire Iron Inc. (US) and others.

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