NEW YORK, April 25, 2016 /PRNewswire/ -- The North America water storage systems market is projected to reach USD 4.14 billion by 2020
The North America water storage systems market is projected to reach USD 4.14 billion by 2020, registering a CAGR of 9.1% between 2015 and 2020. The growth is attributed to the growing population, growing demand for water, depleting freshwater resources, and urbanization in the region.
Hydraulic fracture storage and collection is the largest application segment
The hydraulic fracture process in oil and gas extraction uses a huge amount of water, which becomes largely contaminated. Strict environmental rules stipulate the treatment of this wastewater before being released back into the environment. Water storage systems are used to store wastewater for treatment purpose. The growing oil & gas activities and the scarcity of clean water are factors driving the market of water storage systems in the hydraulic fracture and collection application.
Municipal is the dominating end-use segment of the North America water storage systems market
Municipal water storage systems include large storage tanks that are meant for the distribution of water to various cities or towns. They help meet the growing water demand for day-to-day activities. This makes it the largest end-use segment in the North America water storage systems market. Growing population and rapid urbanization are factors driving the demand of water storage systems in the municipal end-use segment.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 59%, Tier 2 - 21%, and Tier 3 - 20%
- By Designation: Manager level - 69%, Director Level - 31%
- By Country: U.S. - 47%, Mexico - 32%, Canada - 21%
As a part of qualitative analysis, the report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also profiles different market players, such as ZCL Composites Inc. (Canada), Synalloy Corporation (U.S.), AG Growth International Inc. (Canada), Chicago Bridge & Iron Company N.V. (The Netherlands), BH Tank, Inc. (U.S.), Caldwell Tanks, Inc. (U.S.), CST Industries, Inc. (U.S.), Snyder Industries, Inc. (U.S.), and others.
Reasons to buy this report:
This report covers the following key aspects:
- What will be the market size by 2020 and what will be the growth rate
- What are the key market trends
- What is driving this market
- What are the challenges that impact market growth
- Who are the key players in this market
- Regional report covers key countries, such as U.S., Canada, and Mexico
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