The global water hauling services market is projected to be worth US$ 42 billion in 2023 and US$ 53 billion in 2033. For the projection period, the usage of water hauling services is expected to grow at a CAGR of 2.4%.
Swimming Pools & Outdoor Recreation Activities Demand Maximum Water Hauling Services
In this report, FMI has segmented the global water hauling services market on the basis of application type, end-user, and region. By application, the water hauling services market is segmented into irrigation & agriculture, swimming pools & outdoor recreation, construction & projects, oilfield demand, 24-hour emergency response & fire fighting, and others such as residential applications and storage tanks.
Swimming pools & outdoor recreation and oilfield segments hold a collective share of nearly 2/3rd of the total market value, which is attributed to growing demand and cost-effectiveness associated with water transportation across the aforementioned segments.
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However, due to increasing investments in the construction industry undertaken by governments to boost industrialization, the construction & projects segment is more likely to witness higher demand for wastewater/treated water, in the years to come. This will in turn contribute to the growth of the water hauling services market.
Water Hauling Services Market Remains a Low-growth Landscape, Sustained Demand Expected from Industrial Sector
While demand for efficient water hauling services is rising with the expansion of hospitality industry, particularly the outdoor recreation sector, the revenue growth of water hauling services market has been anticipated at a gradual pace in coming years. FMI’s analysis projects a mere 2.4% CAGR for water hauling services market over the period of 2018-2028.
However, increasing government initiatives regarding backup water storage as well as growth in the number of oil extraction activities may provide a modest push to the demand growth of water hauling services in the near future.
The growth of the hospitality industry and ascending incorporation of advanced amenities into leisure properties to deliver excellent customer experience will be an important factor sustaining demand for water hauling services. However, regulatory limitations over swimming pool installation within water-sparse regions continue to restrict the demand for water hauling services within residential and commercial sectors, according to the report.
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However, the industrial end-use sector is cited as a relatively attractive segment for water hauling services providers, in terms of the market incremental opportunity. The report attributes attractiveness of the industrial sector to the increasing number of oil extraction and well drilling activities that have been observed in the recent past – especially in North America.
Sustenance of Water Hauling Services Demand to Prevail in Developed Regions
North America’s water hauling services market is estimated hold the leading position owing to the strong presence of a majority of water hauling service providing brands, the highest number of swimming pools, and consistently growing demand for water hauling services across industries.
Europe is also cited as a key market for water hauling services providers owing to the increasing number of government-driven initiatives for necessitating efficient water hauling services. The increasing establishment of local companies in the water hauling services market is also among the factors boosting the global adoption of water hauling services in developed regions.
On the other hand, new and innovative corporate as well as residential construction projects emerging in Europe and MEA are also expected to propel the demand for water hauling services in these regions. Disaster conditions witnessed across Africa are also boosting the growth of water hauling services market in terms of value.
Water Hauling Services – Balancing Act Between Leisure and Labour
The water hauling services vicinity is broadening its scope by opening avenues for leisure activities, in light of financial leeway of modern consumers. Adherence to water conservation norms has fuelled water conservation activities, under which wastewater from residential and commercial buildings is treated and reused for construction activities. The water requisites to such projects ride on the back of water hauling services and reinforces bright prospects for the landscape.
Developed Economies Exhibit Razor-sharp Growth
Popularity of swimming pools and outdoor recreational activities in the developed countries like the U.S. and Canada has been gaining grounds for water hauling service landscape. Throat-cut competition prevailing in the hospitality industry to upgrade customer experience by offering advanced amenities will lend attractiveness to the water hauling services arena.
A Magnified View
Efforts in the direction of streamlining water logistics services by transporters to facilitate horizontal import-export of goods have been creating business opportunities for the commercial sector, which puts the water hauling services landscape in its best light through 2028.
Key Segments
By Application
- Irrigation & Agriculture
- Swimming Pools & Outdoor Recreations
- Construction & Projects
- Oilfield Demand
- 24 hour emergency Response & Fire Fighting
- Others (Storage Tanks, Residential Drinking Purposes)
By End User
- Residential
- Commercial
- Industrial
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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