The report "North America Water Storage Systems Market by Material Type (Concrete, Steel) Application (Hydraulic Fracture Storage & Collection, Onsite Water & Wastewater Collection), End-Use Industry (Municipal, Industrial) and Country - Global Forecast to 2020", The North America water storage systems market is projected to reach USD 4.14 Billion by 2020 from the estimated USD 2.67 Billion in 2015, at a CAGR of 9.1% between 2015 and 2020. Depleting freshwater resources, growing population, and growing concern for water conservation are key factors driving the North America water storage systems market.
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Hydraulic fracture storage & collection is the largest application segment of the North America water storage systems market
Hydraulic fracturing is one of the important processes used to extract oil & gas from depleting oil fields. Due to the decreasing productivity of conventional oilfields, producers around the world are increasingly adopting hydraulic fracturing and enhanced oil recovery techniques to earn greater production efficiency from the oilfields. Water storage systems are an important part of the hydraulic fracturing process, as water is extensively used in the process. And with increasing oil and gas activities, the demand of water storage systems for this application is expected to rise.
The hydraulic fracture storage & collection is the largest application segment of the North America water storage systems market. However, the rainwater harvesting & collection segment is expected to be the fastest growing, as concerns for depleting groundwater resources have encouraged the collection and use of rainwater, which may otherwise be wasted.
Municipal, the lifeline of water distribution in any city or town, is the dominating end-user of the North America water storage systems market
Municipal is the largest end-user of water storage systems in North America, and the trend is expected to continue in the near future as well. Municipal applications include water supply to public systems in various cities, towns, and other domestic regions. Water from water treatment plants has to be stored, prior to its distribution through the municipal network. Water storage systems are used to store this water, and for the delivery of the water when needed. The growing population and rapid urbanization are factors driving the water storage systems market in the municipal end-use segment.
Among countries in North America, the U.S. uses the maximum number of water storage systems
The U.S. water storage systems market held the largest share of the NA water storage systems market, in terms of value, in 2014. The U.S. market is also expected to account for the largest share of the NA market by 2020 due to the high oil and gas activities, growing population, and increasing scarcity of clean water. The North American region also holds the largest proven shale gas reserves in the world, and the growing shale gas activities will significantly increase the demand for water storage systems in this region in the coming years.
The research report segments the North America water storage systems market on the basis of material type, application, end-use industry, and country. In-depth company profiles of the major market players are also included in the report. Some of the major players in this market are 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.), Maguire Iron, Inc. (U.S.), Contain Enviro Services Ltd. (Canada), Tank Connection, LLC (U.S.), Crom Corporation (U.S.), and Snyder Industries, Inc. (U.S.).
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