Water hauling services providers focus on delivering 24x7 seamless experience: Says FMI
Estimated to reach nearly US$45 billion by the end of 2027, the global market for water hauling services will observe a passive growth outlook over coming years. As indicated by a recent research study, a majority of demand for water hauling services will be generated from the construction & agriculture industries, coupled by favorable government initiatives.
Sluggish growth estimated for water hauling services market through 2027
Water hauling services have been in use for transportation of water/wastewater across residential, commercial, and industrial sectors for applications such as irrigation & agriculture, filling of swimming pools, construction activities at oilfields during oil extraction, emergency & disaster events, and water treatment for residential usage. However, report analysis forecasts a sluggish below – three per cent CAGR for the water hauling services market revenue over 2018-2027.
· Construction & projects will continue to represent the most attractive application area for water hauling services providers.
· Industrial sector will remain the top end-use segment in the water hauling services market, majorly driven by oil & gas industry’s resurgence.
· Demand from residential sector likely to gain a slight uptick from the falling price point of water hauling services.
MEA likely to emerge attractive, reflecting relatively higher growth potential
The water hauling services market in North America is expected to dominate the global water hauling services market, as the region continues to register maximum demand and high accessibility owing to strong presence of several local water hauling service providers in the region. While the market in Europe and Asia Pacific is also anticipated to record modest growth, the report has identified relatively higher growth potential in the MEA region.
Local companies retain dominance in regional water hauling services markets
According to the report, the water hauling services market is expected to be highly fragmented due to the dominance of local players within respective regional territories. The report has covered detailed strategic profiles of some of the most prominent players active in water hauling services landscape, including EZ Machinery, Fueloyal Inc., Patrik's Water Hauling Ltd., HB Rentals, L. C., GEI Works, Dalton Water Company, Andy's Water, Water-2Go, Zemba Bros., Inc., Hubert Water Hauling Service LLC, GeeTee Holdings Inc., DONLEYWATER, Gibson Energy Inc., and Big Rock Water Hauling Services among others.
Some of the water hauling service providers specialize in transportation of the wastewater collected during extraction at oilfields, for water treatment. Whereas, several others hold expertise in transportation of water across varying industry verticals. A majority of the operators in market continue to focus on providing 24x7 seamless experience to end users, which will remain an important factor sustaining the revenue of water hauling services market.
African government has been contributing toward the growth of water hauling services market by generating demand within the disaster and emergency management segment. Driven by this, in addition to the thriving tourism and hospitality industry, the Middle East and African region will reportedly generate relatively higher demand for water hauling services.
These insights are based on a report on Water Hauling Services Market by Future Market Insights.