Global Rainwater Harvesting Market- Covid-19 Impact, Applications, Competitive Analysis and Industry Growth to 2027
Key Highlights
·
In terms
of value, the global rainwater harvesting market is anticipated to expand at a CAGR of ~6% from
2019 to 2027
·
The
earth’s surface is covered with about 70% of water; however,
97% of the total water available on the earth is saline and only 3% of
it is fresh water. Out of the total fresh water available, ~70% is
in the form of snow cover and glaciers, ~31% is groundwater, and
around 0.3% is present in rivers and lakes. Globally, 69% of
the water withdrawn is used for agricultural purposes; 23% is
employed for industrial purposes; and 8% is used for domestic
purposes.
·
Demand
for fresh water is increasing rapidly across the globe. This has resulted in
extensive usage of existing water supplies such as groundwater sources. The
level of groundwater has reduced significantly, resulting in scarcity of fresh
water. Several countries have started making use of the previously unexploited
freshwater sources.
·
Rainwater harvesting is a technology utilized to
collect rainwater from land surfaces, rooftops, and rock catchments, and
storing it for future use. Harvested water has been a good alternative source
to fresh water. Additionally, rainwater harvesting is an eco-friendly
technology that is also called ‘green practice,’ as it does not hamper the
environment.
High Cost of Rainwater Harvesting to Hamper Demand
·
In
developed countries, rainwater harvesting systems incur high initial
investments, which vary depending on the size and technology of the plant.
These systems also require regular maintenance. High cost of rainwater
harvesting is a major factor that is expected to hamper the global market. It
is also anticipated to hinder the adoption rate of rainwater harvesting in
various applications.
·
Low
storage capacity adversely affects the demand for rainwater harvesting, while
high storage capacity adds to construction and operating costs, making the
technology less economical. This is another key factor estimated to hamper the
global market.
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Above Ground to be Most Preferred Harvesting Method
·
In terms
of harvesting method, the above ground segment is expected to expand at a CAGR
of 5.5% during the forecast period. The above ground
harvesting method has been further sub-segmented into ground surface and
storage tank. The above ground harvesting method is primarily preferred in
residential, commercial, and agriculture application segments.
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High Adoption of Rainwater Harvesting in Commercial
Application
·
Based on
application, the global rainwater harvesting market has been segregated into
residential, commercial, industrial, and agriculture
·
The
commercial segment accounted for more than 40% share of the
global rainwater harvesting market in 2018. Rainwater harvesting in commercial
projects includes collection of rooftop rainwater, condensate from graywater
and air handlers from showers, stormwater runoff, and lavatory sinks and baths.
This water is used in various non-potable applications such as irrigation,
toilet flushing, and cooling towers.
·
Adoption
of rainwater harvesting in residential and commercial applications is estimated
to overcome water scarcity issues, primarily in regions where additional water
resources are scarce and difficult to access. This is another factor that is
likely to fuel the demand for rainwater harvesting in the residential segment.
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Asia Pacific to be Lucrative Region of Rainwater
Harvesting Market
·
In terms
of consumption, Asia Pacific dominated the global rainwater harvesting market
in 2018. The rainwater harvesting market in the region is expected to expand at
a rapid pace from 2019 to 2027. Rapid urbanization, rise in population, and
strong economic growth are major macroeconomic factors that are anticipated to
fuel the demand for rainwater harvesting in the near future. Increase in
consumption of rainwater harvesting in applications, such as residential,
commercial, and agriculture is also expected to drive the rainwater harvesting
market in Asia Pacific. The residential sector in Asia Pacific, particularly in
India and China, is likely to witness moderate growth in consumption of
rainwater harvesting over the next few years.
·
In terms
of consumption, Europe is expected to be a prominent region of the global
rainwater harvesting market during the forecast period
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Rainwater Harvesting Market: Competition Landscape
·
The global
rainwater harvesting market was highly fragmented in 2018, with numerous
manufacturers operating in the market. Kingspan Group, Watts Water
Technologies, Inc., Graf Group, Rain Harvesting Supplies, Inc., and
Stormsaver accounted for more than 25% share in 2018
·
Key
players are consistently focusing on the development of high quality rainwater
harvesting components with the objective to improve product offerings and gain
competitive edge in the global rainwater harvesting market
Key manufacturers operating in the global rainwater
harvesting market include:
·
Kingspan
Group
·
Watts
Water Technologies, Inc.
·
Graf
Group
·
WISY AG
·
Innovative
Water Solutions LLC
·
D&D
Ecotech Services
·
Rain
Harvesting Supplies, Inc.
·
Water
Field Technologies Pvt. Ltd.
·
Stormsaver
·
Climate
Tanks
·
Water
Harvesters
·
Heritage
Tanks
·
HarvestRain
·
Rainwater
Connection
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