North America Stormwater Treatment Retrofit Products Market: Introduction
Transparency Market Research delivers key insights on the North America stormwater treatment retrofit products market. In terms of revenue, the North America stormwater treatment retrofit products market is estimated to expand at a CAGR of 10.2% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the North America stormwater treatment retrofit products market report.
In this market report, TMR predicts upcoming retrofitting projects backed by government initiative and investments across the region to have a noteworthy impact on the overall stormwater treatment retrofit products market. North America is witnessing robust demand for stormwater treatment retrofit products over the past few years due to extensive demand for clean water and storage of water.
Stormwater retrofits are a stepwise practice designed to mitigate erosive flows, minimize pollutants in stormwater runoff, and enhance quality of aquatic habitat. It may help to neutralize harmful pollutants, which is likely to damage the overall environment condition and cause chronic diseases. Several government bodies and industrial players are opting for these products in order to improve overall water quality. This is expected to result in growth of the stormwater treatment retrofit products market in the upcoming years.
Key manufacturers of stormwater treatment retrofit products continuously focus on investment in research & development to introduce innovative products. Prominent players in the stormwater treatment retrofit products market are engaging with clients by offering them customized solutions. Likewise, introduction of cost effective innovative solutions and advanced technology has encouraged manufacturers to focus on research and development to introduce innovative products. This is likely to drive the growth of the stormwater treatment retrofit products market.
In North America, many government initiatives have been taken by relying on plants, soil, and natural systems to manage rainfall runoff. Green infrastructure tackles urban water woes and boosts climate resilience. In North America, trillion gallons of untreated stormwater runoff, containing everything from raw sewage to trash to toxins, enters waterways. This stormwater is then treated in urban and suburban areas to clean the underground water levels and upgrade the stormwater for public use. Non-potable water uses include landscape or container plant irrigation and diverting stormwater to planted areas for preserving the landscape. This is a major factor driving the growth of the stormwater treatment retrofit products market.
In terms of product type, the stormwater treatment retrofit products market has been segmented into storm filter, storm basin, storm sack, screen box, flume screen box, connector pipe screen, trench drain, down spout filter, helix filter, cartridge vault, and others. The stormwater management market in the region is expected to register strong growth during the forecast period due to increasing number of hurricanes and typhoons, and shift in government focus toward adoption of advanced water management systems as compared to traditional wastewater and water management systems. However, the recent increase in rainfall trends and urbanization have considerably raised the concern about capacity of existing stormwater systems. In order to increase the capacity and efficiency of these stormwater systems, catch basin insert products, such as storm basins are likely to gain significant traction followed by trench drains over the next few years.
Based on application, the stormwater treatment retrofit products market is segmented into municipal, commercial, and industrial sector. Rising awareness regarding rainwater harvesting methods and implementation of low impact green infrastructures are likely to bolster the commercial sector’s investment in retrofitting projects, making it one of the promising sectors in the upcoming years. In terms of application, the industrial and commercial sectors showcase higher potential, as privatization in stormwater treatments continue to rise. Besides, majority of industrial and commercial stormwater assets are decentralized, while it is the other way in municipalities.
North America Stormwater Treatment Retrofit Products Market: Prominent Country
Geographically, the U.S. is estimated to lead the market in North America during the forecast period. This is majorly due to rising retrofitting projects across the country. The rising preference for stormwater treatment retrofit products in Canada and Mexico is also encouraging the growth of the market, as public-private partnerships are receiving increasing attention in the region as an innovative way of financing a wide range of environmental protection initiatives.
North America Stormwater Treatment Retrofit Products Market: Key Players
The competition landscape of the stormwater treatment retrofit products market is moderately fragmented with leading players accounting for majority of the revenue share. Key players operating in the North America stormwater treatment retrofit products market include Contech Engineered Solutions, StormwateRx LLC, Ecosol, Fabco Industries Inc., and Apex Companies, LLC.
North America Stormwater Treatment Retrofit Products Market: Segmentation
North America Stormwater Treatment Retrofit Products Market, by Product Type
- Storm Filter
- Storm Basin
- Storm Sack
- Screen Box
- Flume Screen Box
- Connector Pipe Screen
- Trench Drain
- Down Spout Filter
- Helix Filter
- Cartridge Vault
- Others (Bearing, etc.)
North America Stormwater Treatment Retrofit Products Market, by Application
North America Stormwater Treatment Retrofit Products Market, by Region
- North America
- Rest of North America
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