Rainwater Harvesting Market
Rainwater Harvesting Market (Harvesting Method: Above Ground and Below Ground; and Application: Residential, Commercial, Industrial, and Agricultural) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Consumer Goods & Services
- 248 Pages
Increased Emphasis on WASH Sector Creates Revenue Opportunities amid COVID-19 Crisis
During the ongoing COVID-19 crisis, the Water Supply, Sanitation and Hygiene (WASH) sector is gaining increased attention, owing to its importance in containing and mitigating the spread of the deadly virus. Companies in the rainwater harvesting market are capitalizing on this opportunity, since rainwater harvesting is gaining popularity as a valuable part of water management strategy. This strategy is contributing to household water security and encouraged by governments.
The pandemic has led to increased importance and recognition of the WASH sector in developing countries. There is a need for these countries to reach the Sustainable Development Goals (SDGs) for Water and Sanitation. Such findings are anticipated to create revenue opportunities for stakeholders in the rainwater harvesting market post the COVID-19 pandemic.
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High Initial Cost, Regular Maintenance of Systems Affecting Adoption Rates
Surface runoff harvesting and rooftop rainwater harvesting techniques are growing prominent in residential, commercial, and industrial sectors. The rainwater harvesting market is slated to clock a favorable CAGR of 6.3% during the forecast period. However, challenges in the adoption of rainwater harvesting such as high initial cost, unpredictable rainfall, and regular maintenance are affecting market growth. Hence, stakeholders must create awareness about environmental benefits of rainwater harvesting to boost its adoption in different sectors.
Stakeholders are creating awareness that rainwater can be collected, converted, and purified into drinking water for use in daily applications and in large-scale industries. One of the biggest advantages of rainwater harvesting is it helps in reducing the consumption of groundwater.
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Cutting-edge Rainwater Purification Systems Reduce Water Costs in Houses
The rainwater harvesting market is expected to surpass 411.4 million cubic meter by 2031. Innovations in rainwater purification systems are contributing toward market growth. Rainwater Management Solutions - the U.S. and Canada based specialist in the rainwater harvesting business is boosting its sale for rainwater purification systems through its website.
Manufacturers in the rainwater harvesting market are increasing the availability of purification systems catering to home applications in an attempt to reduce water costs, supplement drinking water, and bathing water. They are boosting the production of home purification systems integrated with optional color user interface that provides screen displaying diagnostics, status, and warnings for a quick link back to the website of the system provider.
Companies Increase Production for Rainwater Tanks for Arable Farms, Livestock Farms
The rainwater harvesting market is expected to cross US$ 1.46 Bn by 2031. Enduramaxx - a specialist in the design and manufacture of quality polyethylene tanks for agricultural, industrial, and residential applications is bolstering the production of rainwater tanks for arable farms and livestock farms.
Companies in the rainwater harvesting market are manufacturing plastic water tanks for arable farms, including bulk water tanks for agriculture sprayers. On the other hand, these sprayers are used for dairy washdown, livestock watering, and pressure washing applications.
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With the advent of COVID-19, manufacturers in the rainwater harvesting market are increasing the production of robust purification systems that filter out bacteria, cloudiness, and chlorine, among other contaminants. Vertical rainwater harvesting tanks are rotationally molded and designed for both agricultural and commercial installations. However, storage limits for rainwater harvesting are emerging as hurdles in its adoption. Hence, stakeholders are creating awareness about environmental benefits of rainwater harvesting to boost sales of storage and purification systems. Manufacturers are increasing the production of underground rainwater tanks with the help of high-density polythene in a robust one-piece stress-free molding with smooth internal and external surface.
Rainwater Harvesting Market: Overview
- According to Transparency Market Research’s latest research report on the global rainwater harvesting market for the historical period of 2018–2019 and the forecast period of 2021–2031, rising demand from the water treatment industry is expected to boost the global rainwater harvesting market during the forecast period
- In terms of revenue, the global rainwater harvesting market is estimated to exceed value of US$ 1.46 Bn by 2031, expanding at a CAGR of 6.3% during the forecast period
Usage of Rainwater Harvesting in Various End-use Sectors: A Key Driver
- Governments of several countries have started awareness programs for promoting rainwater harvesting. They are also providing incentives and tax exceptions in order to encourage the usage of rainwater harvesting systems. Many states in India have already passed legislations to mandate the usage of rainwater harvesting systems during the construction of buildings and in old buildings as well.
- Rainwater harvesting has additional advantages such as lowering of water bills, reducing soil erosion and floods, and it helps in irrigation
- Growth in population, which has led to quest for alternate fresh water sources, and government support in creating awareness regarding water scarcity and promoting rainwater harvesting methods is expected to boost the rainwater harvesting market in the near future
- Some of the examples of these incentives: Australia - A rebate of up to US$ 1,000 for the purchase and installation of home rainwater storages has been offered by the State of Queens. German consumers get rain tax reductions by converting their impervious pavement/roof into a porous one. In Brazil, the “One Million Rainwater Harvesting Programme” (P1MC) was launched by civil society groups in the region, targeting rural families without a secure drinking water source.
Increasing Demand from Asia Pacific
- Asia Pacific and Europe collectively constituted 69.5% share of the rainwater harvesting market in 2020. The two rainwater harvesting markets are highly lucrative and anticipated to expand at a significant CAGR during the forecast period. The commercial end user segment accounted for a major share of the rainwater harvesting market in Europe compared to any other region. This is due to the high initial cost of rainwater harvesting in the region.
- Although the number of installations in Asia Pacific is high, the cost per unit is less compared to Europe and North America. Asia Pacific and Africa prefer simple rainwater harvesting systems rather than complex ones. However, they are compromising on the quality of the rainwater harvesting system.
Rainwater Harvesting Market: Competition Landscape
- Detailed profiles of providers of rainwater harvesting have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global rainwater harvesting market are
- Kingspan Group Plc.
- Watts Water Technologies, Inc.
- Otto Graf Gmbh Kunststofferzeugnisse
- WISY AG
- Innovative Water Solutions LLC
- D&D Ecotech Services
- Rain Harvesting Supplies, Inc.
- Water Field Technologies Pvt. Ltd.
- Stormsaver Ltd.
- Climate Inc.
- Water Harvesters
- Heritage Tanks Pty. Ltd.
- Harvest Rain Inc.
- The Rainwater Connection Ltd.
Rainwater Harvesting Market: Key Developments
- Key providers of rainwater harvesting such as Kingspan Group Plc., Watts Water Technologies, Inc., and Otto Graf Gmbh Kunststofferzeugnisse are focusing on product development to attract more customers. Some other key developments in the global rainwater harvesting market are highlighted below:
- In August 2020, rainwater harvesting was installed at Kingspan's Rokietnica plant in Poland. So far, the team has installed one 20,000-liters rainwater collecting tank; a second tank is being installed, and two more are planned, bringing the total on-site capacity to 80,000 liters. Furthermore, as part of Planet Passionate, the company is building rainwater collecting systems at its locations in order to gather 100 million liters of rainwater by 2030.
Rainwater Harvesting Market – Scope of Report
A new study on the global rainwater harvesting market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global rainwater harvesting market across the globe. TMR’s study offers valuable information about the global rainwater harvesting market to illustrate how the market would grow during the forecast period, 2021–2031.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global rainwater harvesting market during the forecast period.
An extensive analysis on business strategies of leading market players is also featured in TMR’s study on the global rainwater harvesting market. This can help readers understand principal factors to foresee growth in the global rainwater harvesting market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global rainwater harvesting market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Rainwater Harvesting Market Study
- What are the key factors influencing the rainwater harvesting market in each region?
- What will be the CAGR of the global rainwater harvesting market between 2018 and 2031?
- What is the future scope and current trends in technologies of the global rainwater harvesting market?
- What is the revenue of the global rainwater harvesting market based on segments?
- Which key strategies are used by top players of the global rainwater harvesting market?
- Which are the leading companies in the global rainwater harvesting market?
Research Methodology – Rainwater Harvesting Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global rainwater harvesting market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global rainwater harvesting market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the rainwater harvesting market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from rainwater harvesting industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global rainwater harvesting market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global rainwater harvesting market more reliable and accurate.
Rainwater Harvesting Market – Segmentation
TMR’s study on the global rainwater harvesting market includes information categorized into three sections - harvesting method, application, and region. Changing industry trends and other crucial market dynamics associated with these sections of the rainwater harvesting market are discussed in detail.