Global Rainwater Harvesting System Market – Industry Share & Forecasts 2023-2031
The Rainwater Harvesting System Market accounted for USD 1,811 Million in 2020 and is expected to reach more than USD 3,343 Million by 2028, growing at a CAGR of 8.6% from 2021 to 2028.
Rainwater harvesting system collects and stores rainwater for human use. Rainwater harvesting systems range from simple rain barrels to more elaborate structures with pumps, tanks, and purification systems. The non-potable water can be used to irrigate landscaping, flush toilets, wash cars, or launder clothes, and it can even be purified for human consumption. With water scarcity a pressing problem for many densely populated regions, rainwater harvesting systems can supply households and businesses with water for use in dry seasons and lessen the demand on municipal systems.
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COVID-19 Impact Analysis
In an era of the COVID-19 pandemic, the Water Supply, Sanitation and Hygiene (WASH) sector is gaining much more (deserved) attention due to its importance in containing and mitigating the spread of the deadly virus. However, rain water harvesting system market did not witness any negative impact in term of growth perspective. The market continued experiencing steady growth as earlier year.
In fact, the market witnesses a significant growth in the demand for rain water harvesting system in some part of the world especially in Asia Pacific and Europe. The growth is primarily driven by the growing awareness among end-users regarding the spread of the infection through river and other water bodies. This has encouraged people to start harvesting rain water for daily use and gardening. In some of the Indian state including Karnataka and Kerala, people have started installing rooftop rain harvesting system due to scarcity of water and meet the water demand in the future due to depleted ground water level and shortage in the supply of municipal water.
Emerging economies are late adopters when it comes to innovation and technology. Rapid industrialization and urbanization have increased the demand for a range of products that efficient, cost-effective, and time-efficient. In addition to this, the global market is 7witnessing strong demand for various raw material required in the construction industry such steel, cement, glass, building block, steel joist, chemicals, paper, and ceramics, among others. Construction workers rely on Rainwater Harvesting Systems to carry and transport heavy building materials to certain distances and even on rough terrain. In construction sites, Rainwater Harvesting Systems serve both as lifting equipment and a vehicle. Rainwater Harvesting Systems are best used in unloading pallets of blocks/bricks, steel joists, and construction equipment and materials, especially in hauling them from the delivery truck and carrying them to the site.
Industry players use strategic acquisitions and collaborations as a significant strategy
Some of key players in Rainwater Harvesting System Market are Kingspan Group PLC, Graf Group, WISY AG, Stormsaver Ltd, Ecozi Ltd, Molloy Precast Products Ltd., D&D Ecotech Services, N.S. & Associates, Water Harvesters, Barr Plastics Inc, are among others.
This market research study on Rainwater Harvesting System covers the industry in full, with revenue estimates and forecasts in USD for the following segments from 2023 to 2030:
Market, By Type
● Land-Based Harvesting
● Roof-Based Harvesting
Market, By Application
Regional Analysis Preview
By region, the global rain water harvesting system market is segmented into Europe, North America, Asia Pacific, Middle East, and Latin America. Wherein, Europe is holding the largest market share.
Europe has emerged as the largest market for rainwater harvesting system on account of widescale adoption of the rainwater harvesting. In addition to this, several countries in the Europe have made it mandatory to install such systems, especially in commercial building and industrial places to counter the problem of freshwater shortage. On the other hand, Asia Pacific is projected to continue growing at the fastest CAGR as result of rapidly growing efforts from state and federal governments. In addition to this, several countries in the region are already facing water crises, which have compelled them to utilize most advanced systems for harvesting rainwater, especially in Singapore, Thailand, the Philippines, and China.
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