Rainwater Harvesting System Market: Segmented: By Product Type (Rain Barrel System, Wet System, Dry System, Green Roof System, Others), By Harvesting Method (Above the Ground, Under the Ground), By Installation (Residential, Commercial, Industrial, Agricultural, Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[ 170 + Pages Research Report ] Rainwater Harvesting System Market to surpass USD 1,574.3 million by 2032 from USD 950 million in 2021 at a CAGR of 4.7% in the coming years, i.e., 2022-32.
Rainwater Harvesting is a process in which rainwater is conserved by collecting, filtering, and storing it from rooftops, roads, parks, grounds, etc. The system used for the conservation of rainwater is called the rainwater harvesting system. Rainwater can be used for various purposes like irrigation, and residential and commercial use, and it also prevents flooding situations in urban areas. It is a great method of utilizing rainwater as it helps in fulfilling water needs, especially in drought-prone regions. The systems can vary from rain barrels to tanks, purification systems, pumps, and treatment devices such as post-filtration equipment, UV lights, and Chlorination devices.
Rainwater Harvesting System market is expected to project a notable CAGR of 4.7% in 2032.
Depleting freshwater resources, growing awareness among end users, growing consumption in the agriculture sector and rising government initiatives are fueling the growth of the Rainwater Harvesting System market.
Rain Barrel System segment holds the largest market share
Rainwater Harvesting System market is classified on the basis of product type into Rain Barrel Systems, Wet Systems, Dry Systems, Green Roof Systems, and Others. The rain Barrel System segment is dominating the market with the largest share. This system diverts the roof runoff to a water tank through pipes where it is collected and stored. It reduces the dependency on other sources of water and provides water for later use. It promotes soil health and prevents environmental damage due to flooding.
Commercial segment to grow with the highest CAGR during 2022-32
Rainwater Harvesting System market is classified on the basis of installation into Residential, Commercial, Industrial, Agricultural, and Others. The commercial segment is projected to grow with the highest CAGR during the forecast period. The growth is attributed to the rising water scarcity and wide adoption of rainwater harvesting systems in malls, hotels, hospitals, institutions, and other places to meet the rising water needs. Presently, the agriculture segment is dominating the market owing to the widespread usage for irrigation purposes by farmers.
Depleting Fresh Water Resources
Freshwater resources are constantly depleting due to climate changes and global warming. The rising global population, rapid industrialization, and urbanization have induced the overall demand for water. Water resources are limited and the groundwater level is also declining which makes it important to look for alternative sources of water. Industries and commercial organizations have already installed rainwater harvesting systems to meet their huge water requirements. Growing awareness among end users will further drive market growth.
Growing adoption in Agriculture Sector and Government Initiatives
Most farmers rely on natural sources of water for farming and irrigation purposes. However, in many unprecedented situations like drought, scarcity of water destroys the cultivation of crops. Over the decade, agriculturists and farmers are widely adopting rainwater harvesting systems to cater to the increasing demand for irrigation purposes. Rainwater harvesting systems are being used globally to meet the rising water needs in the absence of water resources available for usage. Additionally, various government organizations have launched programs and policies to encourage rainwater harvesting and conservation of water.
High installation and maintenance costs
Rainwater harvesting system installation is costly and it requires timely maintenance for seamless operations, thus it is not an affordable option for tier 2 and tier 3 farmers and individuals. Furthermore, growing waste water treatment plants poses tough competition for the rainwater harvesting system market and is restraining the market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Rainwater Harvesting System market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific is projected to grow with the highest CAGR during the forecast period. The growth is attributed to the increasing population and greater scope for infrastructural developments in the region. A major part of the population is indulged in agricultural activities in countries like India, which will promote the adoption of rainwater harvesting systems for irrigation purposes. Further, North America holds the largest market share in the present scenario.
Covid-19 outbreak has affected several nations across the world. The unprecedented effects of coronavirus have hampered the global economies severely. However, amid the pandemic water hygiene and sanitation has garnered the utmost attention owing to the many health concerns and the spread of the virus. The rainwater Harvesting System market has experienced a steady growth rate during the pandemic. Growing awareness among people about water hygiene and the conservation of water will promote water harvesting.
Rainwater Harvesting System is further segmented by region into:
Rainwater Harvesting System Segments:
|Market size value in 2021||USD 950 million|
|Revenue forecast in 2032||USD 1,574.3 million|
|Growth Rate||CAGR of 4.7% from 2022 to 2032|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2022 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product Type, Harvesting Method, Installation, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Kingspan Group PLC, Watts Water Technologies, Inc., Graf Group, WISY AG, Innovative Water Solutions LLC, Stormsaver Ltd, Ecozi Ltd, Molloy Precast Products Ltd., Aquaco Water Recycling Limited, D&D Ecotech Services, Osmosis India Water Field Technologies Pvt. Ltd., Water Harvesters, N.S. & Associates, Heritage Tanks Pty. Ltd, and Other Prominent Players|
Rainwater Harvesting System to surpass USD 1,574.3 million by 2032 from USD 950 million in 2021 at a CAGR of 4.7% in the coming years, i.e., 2022-32.
Kingspan Group PLC, Watts Water Technologies, Inc., Graf Group, WISY AG, Innovative Water Solutions LLC, Stormsaver Ltd, Ecozi Ltd, Molloy Precast Products Ltd., Aquaco Water Recycling Limited, D&D Ecotech Services, Osmosis India Water Field Technologies Pvt. Ltd., Water Harvesters, N.S. & Associates, Heritage Tanks Pty. Ltd
Rain Barrel System segment holds the largest market share is anticipated to hold the Rainwater Harvesting System Market
Drivers- Depleting Fresh Water Resources
Rainwater Harvesting is a process in which rainwater is conserved by collecting, filtering, and storing it from rooftops, roads, parks, grounds, etc.
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