Amey Godbole
Rainwater Harvesting Market (by Harvesting Method: Surface-based Harvesting and Roof-based Harvesting; by End-user: Residential, Commercial and Industrial) - Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the rainwater harvesting market registered market value of US$ 1.35 Bn in 2017 and estimated to grow with a CAGR of 5.9% during the forecast period from 2018 to 2026.
Market Insights:
Water crises across the globe are becoming a common phenomenon with every passing day. With limited water resources, access to fresh water is shirking as a monstrous rate and the shrinking needs to be curtailed for the whole human existence. One of the most effective avenues to tackle water scarcity issues is to harvest excess water such as rainwater which otherwise washes away down the channels and rivers. This sense of water conservation or harvesting has ignited the much-needed encouragement for the global rainwater harvesting market. The encouragement with respect to water harvesting opened new opportunity doors for several companies to develop more effective systems for rainwater harvesting. Consequently, rainwater harvesting market is a bright prospect to invest both in terms of capital and environmental benefits.
Government and environmental organizations are working on different plans of action in parallel to prevent further detrition of the planet. Several encouragement schemes such as subsidized program and incentive schemes for industries have been operated in order to encourage the adoption of rainwater harvesting systems across the globe. This has also stimulated the demand for rainwater harvesting systems and the market is expected to grow at a considerable scale across different end-users in coming years.
Roof-based Rainwater Harvesting to Grow Firmly & Consistently in the Coming Years
Rainwater harvesting is a simple process of harvesting and collecting rainwater during rainy season and then use the water year-round. The technique is broadly classified into surface-based harvesting and roof-based harvesting. Both the techniques harvest rainwater but the surface-based harvesting involves collection of excess water flowing through earth with the help of channels and gutters in surface or underground tanks. However, this method involves collection of water with impurities from the surface and need to be purified before use. The techniques are generally incorporated by commercial and industrial infrastructure along with the roof-based system. Roof-based systems are extensively incorporated by all residential, commercial and industrial end-users. This method is simple and needs less after-treatment once the water is collected. Consequently, roof-based rainwater harvesting dominates the overall market and expected to continue its dominance throughout the forecast period.
Asia Pacific Soon to Offer Challenge to North America for Market Share
At present, North America emerged as the leader in the global rainwater harvesting market. Realizing the seriousness of water scarcity, the U.S. and Canada have made mandates for different end-user including commercial building including schools, malls, hospitals, and industrial building to equip themselves with rainwater harvesting. Canada is also drawing guidelines to harvest water from snow during winter and store it for other seasons. The region is expected to retain its dominance throughout the forecast period. However, Asia Pacific is making a rapid evolution in terms of rainwater harvesting installations. Several countries in this region are facing water scarcity and rainwater harvesting is the only way out for them to overcome such issues. Consequently, Asia Pacific is expected to claim major market share in coming years.
Competitive Insights:
The research analysis covers exhaustive analysis of leading rainwater harvesting companies including Climate Inc., D&D Ecotech Services, Graf Group, Heritage Tanks, Innovative Water Solutions LLC, Kingspan Group, Rain Harvesting Supplies, Inc., Rain Harvesting Supplies, Inc., Stormsaver Ltd., The Gulf Islands Rainwater Connection Ltd., Watts Water Technologies, Inc., WISY AG, and Water Field Technologies Pvt. Ltd. In broad terms, rainwater harvesting is a fragmented market with the number of players competing with each other for their market share. However, the market is still in its nascent stage of development and has the power to provide several growth opportunities for new companies entering to market. The companies need to keep themselves on their toes to explore and uncover new techniques of rainwater harvesting. With rapid adverse changes in environment and fast depleting water sources, the companies have several opportunities to grab and need to capitalize on these opportunities to stay competitive in the market.
Amey Godbole (Editor)
Amey Godbole is a Senior Research Analyst working with Credence Research since its inception. He has an experience of market research in the fields of E-commerce, Information Technology (IT) Services & Solutions and Electronics segments. Amey has completed B.E. with specialization in Electronics & Telecommunication from University of Mumbai and MBA in Marketing.
Contact:
Email: Amey@industrynewsupdate.com
Mo. No. 919719670423
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