Rainwater harvesting: Key market research findings
- Growing importance of water conservation
- Focus towards sustainable water management
Technavio has released a new market research report on the global rainwater harvesting market, which is expected to grow at a CAGR of 5% between 2016 and 2020. The rising scarcity of water scarcity has necessitated the practice of rainwater harvesting. Owing to the rapid depletion of groundwater resources worldwide, there are efforts carried out towards artificial recharging with the help of rainwater harvesting systems. The Americas hold the largest market share in the global rainwater harvesting market, accounting for 43.6%. Rapid industrialization and urbanization in this region are stimulating the demand for water, resulting in a surge in the number of water storage systems.
Process of rainwater harvesting system
Source: Technavio, 2016
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Rainwater harvesting is one of the most efficient methods for water conservation and its management. It is an affordable solution to overcome water stress, and is a vital alternative for a decentralized water source. Rainwater harvesting reduces the use of fresh water from the surface and groundwater sources. It can be used for agricultural, domestic, and industrial use,” says Vishu R., Lead Analyst, Energy, Technavio Research.
Various countries have been focusing on sustainable water management. Rainwater harvesting is one of the sustainable methods to conserve and manage water resource. Countries such as Singapore, Japan, Germany, and Thailand have been raising awareness about these systems.
The leading vendors in the global rainwater harvesting market are BRAE, Innovative Water Solution, Rainwater Harvesting Supply and Stormsaver. The market is characterized by the presence of well diversified international, regional, and local vendors. The market is expected to undergo rapid growth because of the growing scarcity of water. Competition in the market is expected to intensify, owing to increased government support.
A more detailed analysis is available in the Technavio report, Global Rainwater Harvesting Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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