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North America Septic Tanks Market Size, Share & COVID-19 Impact Analysis, By Material (Concrete, Polymer, and Fiberglass), By Size (Below 1,000 Litres, 1,000-5,000, 5,000-10,000, and Above 10,000 Litres), By Application (Residential, Commercial, and Industrial), and Regional Forecast, 2023-2030

Region : North America | Format: PDF | Report ID: FBI108953

 

KEY MARKET INSIGHTS

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The North America septic tanks market size was valued at USD 1.10 billion in 2022 and is projected to grow from USD 1.14 billion in 2023 to USD 1.44 billion by 2030, exhibiting a CAGR of 3.4% during the forecast period.


A septic tank is an underground chamber primarily made of concrete, fiberglass, or plastic through which wastewater (sewage) flows for primary sewage treatment. A septic tank system is a type of simple on-site sewage facility. They are generally used in areas that are not connected to a sewerage system, such as rural areas.


The growing residential and commercial construction projects and need for advanced drainage systems and waste management in North America are the factors driving the market growth.


COVID-19 IMPACT


Lockdown and Halt in Construction Activities Caused By Pandemic Hampered Market Growth


The COVID-19 outbreak had a detrimental impact on every aspect of the global economy, impacting various sectors such as building & construction and manufacturing. The majority of countries mentioned above suffered throughout the pandemic. Lockdowns, travel restrictions, and economic instability caused supply chain disruption and delays in critical industrial activities throughout the pandemic.


Supply chain disruptions caused by lockdown restrictions imposed during the pandemic forced manufacturers to reduce their production or even shut down their manufacturing facilities. Additionally, manufacturing companies were suffering from labor scarcity, both skilled and unskilled, resulting in delays in manufacturing and massive losses.


North America Septic Tanks Market Trends


Increasing Adoption of Smart Septic Systems to Drive Market Growth


The smart septic system consists of Internet of Things (IoT) and monitoring technology to enhance the performance of the system. The smart septic system offers convenience for homeowners, such as remote monitoring, predictive diagnostics, and maintenance. Smart technology increases the performance of the system and also increases the proactive role in the maintenance and care of their wastewater management systems. Smart systems are able to send real-time information to the homeowners or service providers regarding system issues and performance. Such prompt update reduce the risk of costly repairs and system failure. Thus, septic tank owners are able to facilitate on-time cleaning of tanks when needed.


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North America Septic Tanks Market Growth Factors


Increasing Awareness Regarding Effective Solutions For Waste Management To Boost Market Growth


The North American waste management industry has experienced positive growth in the last few years. The primary factor contributing to this growth is the increasing awareness among people about waste management. Septic tank solutions play a significant role in offering environmentally friendly and efficient waste management solutions for residential, commercial, and industrial applications. The volume of industrial and municipal waste has significantly increased in recent years, which has serious public health, economic, and environmental consequences. The increasing globalization and expanding population have contributed to an increased waste volume, propelling demand in waste management industry. Factors such as increased pollution, unlawful dumping, and increased environmental awareness have all contributed to the strong North America septic tanks market growth.


Additionally, most governmental organizations such as the United Nations and United States Agency for International Development (USAID) are actively participating in solving fundamental sanitation problems along with partner countries. The Coral Reef Alliance (CORAL) is the most influential NGO that is actively working on the sanitation problem. In 2021, the Local government approved a USD 1.8 Million fund for the wastewater treatment facility.


Furthermore, rising industrialization in the U.S., which generates large amounts of waste, propels the growth of the market.


RESTRAINING FACTORS


High Maintenance Cost of Concrete Septic Tank May Restrain the Market Growth


The septic tanks are available in concrete, polymer, and fiberglass material types. Concrete tanks have a more extended period of life and greater durability as compared to others.


The high cost of the concrete tanks is the prime factor that is restraining the market growth in the forecast period. Concrete tanks are highly weighted and take a longer time to install, which requires heavy machinery. Raw materials installation is the primary factor for the high cost of concrete tanks. In addition, it requires maintenance after a certain period.


North America Septic Tanks Market Segmentation Analysis


By Material Analysis


Concrete Segment to Account for a Dominant Share Owing to its Wider Adoption


In terms of material, the market is segmented into concrete, polymer, and fiberglass.


The concrete segment accounted for the dominant share of the North America septic tanks market in 2022. Concrete has been used for constructing conventional septic tanks owing to its durability, longer life expectancy, low maintenance, and resistance to environmental changes. Several other factors, including lower risk of the installation process and no risk of tank collapse during the pumping process, are some of the factors influencing the growth of the segment.


However, comparatively lower prices than concrete counterparts, easy installation and transportation, and crack resistance are some of the reasons influencing the polymer segment growth.


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By Size Analysis


5,000-10,000 Litres Segment to Remain Fastest-growing owing to Increasing Demand from Applications


In terms of size, the market is segmented into Below 1,000 Litres, 1,000-5,000, 5,000-10,000, and above 10,000 Litres.


The 5,000-10,000 segment is expected to grow at the fastest rate during the forecast period. The mounting demand from residential and commercial spaces, including corporate offices, resorts, cafes, hotels, and others, is expected to drive the adoption of the 5,000-10,000 Litre tanks. The above 10,000 Litre segment held a significant share in 2022, owing to the increased demand for septic tanks from the industrial sector. Various industries have set up wastewater and sludge treatment facilities to treat the effluents and waste generated during manufacturing and processing. This is expected to boost the growth of this market.


By Application Analysis


Residential Segment Accounted to Hold Leading Share Due to Growing Construction Projects


In terms of application, the market is segmented into residential, commercial, and industrial.


The residential segment accounted for a leading North America septic tanks market share in 2022. The segment is expected to be the fastest-growing segment during the forecast period. Growing residential construction activities in North America are expected to drive segment growth. According to Oxford Economics, construction output in North America is expected to grow by 32%, from USD 580 billion in 2020 to USD 2.4 trillion in 2030. Moreover, residential construction is anticipated to drive product consumption in the near future due to the growing demand for residential spaces.


The industrial segment held a significant share of the market. The segment is likely to grow significantly owing to growing industrial construction and steady investments from the private sector.


REGIONAL INSIGHTS


The U.S. accounted for the largest septic tanks market size in North America. The standards and stringent regulations associated with wastewater disposal have significantly driven the product demand used for primary waste treatment in the U.S.


Effluent Guidelines are the national regulatory standards for wastewater discharged to surface waters and municipal sewage treatment plants. EPA issues these regulations for industrial categories based on the performance of treatment and control technologies.


The U.S. construction sector has outdone Canada and Mexico over the past two years. However, the view for Canada and Mexico is gradually strengthening as employment and income gains are reinforcing residential construction and firming businesses. This is expected to drive the market growth for sewage and sanitation systems.


List of Key Companies in North America Septic Tanks Market


Strategic Planning Adopted by Companies to Strengthen their Market Share


Top players in the market have a focused combination of innovation, customer-centric approaches, and strategic partnerships. They invest significantly in research and development to enhance the quality and diversity of septic systems. Furthermore, an emphasis on sustainability and eco-friendly materials is gaining traction, aligning with the growing demand for environmentally responsible products and manufacturing processes.


The market includes major companies such as Norwesco, Kingspan Group, Premier Plastics Inc, Chem tainer Industries, and other players. These players leverage these strategies to maintain a competitive edge in the regional as well as global market. 


LIST OF KEY COMPANIES PROFILED:



REPORT COVERAGE


An Infographic Representation of North America Septic Tanks Market

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The North America septic tanks market report provides details and focuses on crucial aspects such as competitive landscape, Materials, and end-use industries. It offers insights into industry trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors contributing to the market's growth in recent years. It includes historical data & forecasts revenue growth at regional and country levels and analyzes the industry's latest market dynamics and opportunities.


Report Scope & Segmentation



















































ATTRIBUTE



DETAILS



Study Period



2017-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2017-2021



Growth Rate



CAGR of 3.4% during 2023 - 2030



Unit



Value (USD Billion)



 


 


Segmentation


 


 


 



By Material



  • Concrete

  • Polymer

  • Fiberglass



By Size



  • Below 1,000 Litres

  • 1,000-5,000

  • 5,000-10,000

  • Above 10,000 Litres



By Application



  • Residential

  • Commercial

  • Industrial



By Country



  • U.S.

  • Canada

  • Mexico



Frequently Asked Questions

According to Fortune Business Insights, the North America market size was valued USD 1.10 billion in 2022 and is projected to reach USD 1.44 billion by 2030.

Registering a CAGR of 3.4%, the North America market will exhibit steady growth during the forecast period (2023-2030).

The concrete segment captured the dominant share in the market.

Increasing awareness regarding effective solutions for waste management is a key factor driving the market growth.

Norwesco, Kingspan Group, Premier Plastics Inc., Chem tainer Industries are a few of the key players in the market.

The U.S. dominated the market in terms of share in 2022.

Growing construction activities in North America to drive the adoption of products in the market

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