Selbyville, Delaware, Feb. 09, 2021 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on the rainwater harvesting system market which estimates the market valuation for rainwater harvesting system will cross US$ 7.9 billion by 2027. The growing population and rising awareness regarding water scarcity across the globe will boost the adoption of rainwater harvesting system.
The emerging demand for sustainable practices and environmentally friendly systems coupled with the rising population particularly in Asia Pacific and the U.S. will have a positive impact on the overall industry. The surging water scarcity due to the climatic change and overuse of water will increase the demand for the installation of rainwater harvesting systems in various sectors. Additionally, the increasing consumption of water in agriculture fields is projected to propel the adoption of rainwater harvesting systems. Moreover, the growing penetration and awareness for these systems in developing countries including China, India, Indonesia, and Brazil, are anticipated to boost the global rainwater harvesting system market in the next few years.
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The residential segment will account for around 44% of the global rainwater harvesting system market in 2027. Rapid urbanization has propelled new residential constructions in emerging economies, increasing the consumption of water by individual homes; thereby, enhancing the demand for rainwater harvesting systems. Various countries have designed various policies and subsidies for the installation of these systems in new constructions. In India, the Haryana Urban Development Authority (HUDA) mandated the installation of rainwater harvesting system in all new buildings, regardless of the roof area.
The rooftop rainwater harvesting system is the dominating segment that accounted for over 66% of the overall market in 2020. This growth is majorly attributed to the increasing installation of rooftop rainwater harvesting systems in residential & commercial buildings owing to their numerous advantages such as easy installation, cost efficient, low installation cost, and providing high-quality water that is soft and low in minerals. The surface runoff rainwater harvesting system is likely to grow significantly in the upcoming years owing the increasing application of these systems in commercial sectors.
The green roof system is projected to grow significantly at a CAGR of 4% through 2027 owing to its main advantage that it provides improved water quality when it is installed on a building. Additionally, based on the installation technique, indirect gravity is likely to grow considerably in the upcoming years owing to its numerous advantages.
The North America rainwater harvesting system market is expected to witness a significant growth and will account for around 12% of share in 2027. The surging installation of these systems in the residential sector in the U.S. coupled with the increasing population is likely to boost the demand for the product.
Additionally, the rising need for water in agricultural fields will further support the market growth. In 2020, Asia Pacific dominated the global rainwater harvesting system market owing to the emerging applications of the systems in residential, commercial, and agricultural sectors within the region. Additionally, government initiatives & policies to promote the benefits of rainwater harvesting are pushing the penetration of the rainwater harvesting system within the region.
The growing demand for innovative rainwater harvesting systems with unique designs and structures will influence the overall industry growth. Major players, such as GRAF Group and Stormsaver, are majorly focusing on expanding their product portfolio with excellent functionalities. Stormsaver specializes in manufacturing and providing different types of rainwater harvesting systems and water-related products & systems.
Some major findings of the rainwater harvesting system market report include:
- The increasing awareness regarding benefits of a rainwater harvesting system among consumers in order to maintain a continuous fresh water supply is driving the industry growth.
- Initiatives taken by the government in various countries for water conservation and mandating rainwater harvesting systems in new constructions are likely to propel the industry growth.
- Growing popularity for rooftop rainwater harvesting systems due to their cost effectiveness will provide a positive outlook to the overall industry size.
- Rising demand for food production will increase the consumption of water, thereby propelling the adoption of the systems in agriculture applications.
- The market is moderately competitive with the presence of several large & small players and has a high barrier level for new entrants due to high capital investments and product costs.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Rainwater harvesting system industry 360° synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Harvesting process trends
2.1.3 Product trends
2.1.4 Installation trends
2.1.5 Application trends
2.1.6 Regional trends
Chapter 3 Rainwater Harvesting System Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 – 2027
3.3 COVID-19 impact on industry landscape
3.4 Industry ecosystem analysis
3.4.1 Distribution channel analysis
3.4.2 Value chain disruption analysis (COVID 19 impact)
3.4.3 Vendor matrix
3.5 Technology landscape
3.6 Pricing trends
3.6.1 North America
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 MEA
3.7 Cost structure analysis
3.8 Regulatory landscape
3.8.1 U.S.
3.8.2 Europe
3.8.3 China
3.9 Industry impact forces
3.9.1 Growth driver
3.9.2 Industry pitfalls & challenges
3.10 Innovation & sustainability
3.11 Growth potential analysis, 2020
3.12 Porter's analysis
3.12.1 Supplier power
3.12.2 Buyer power
3.12.3 Threat of new entrants
3.12.4 Industry rivalry
3.12.5 Threat of substitutes
3.13 Company market share analysis, 2020
3.13.1 Top players analysis
3.13.2 Strategy dashboard
3.14 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.