June 01, 2022 06:49 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, June 01, 2022 (GLOBE NEWSWIRE) — The global rainwater harvesting market size is expected to experience substantial growth backed by the growing demand for rainwater harvesting plants from residential and commercial complexes and the increasing awareness regarding depleting freshwater resources worldwide. This information is published by Fortune Business Insights in its upcoming report, titled, “Rainwater Harvesting Market, 2020-2027.” According to the data by Akvo, the Ganges basin in India is depleting by 6.31 centimeters annually. The depletion of water is driving the demand for the market to suffice the need of the rising population rate worldwide.
Rainwater harvesting is a process that involves collecting and storing rain for the future use of water. As the awareness regarding the optimum utilization of water rises, the demand for harvesting of rainwater is gaining precedence across the globe.
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Proactive Government Initiatives to Mitigate Declining Water Resources
The COVID-19 pandemic has led to halted industrial operations and declining revenue sales of several companies. However, the government agencies are collaborating with other industries to bring back the economy on track to the pre-pandemic levels. Likewise, the market is experiencing positive growth backed by supportive government initiatives to promote the need for storing rainwater to suffice the rising demand.
Increasing Awareness Regarding Freshwater Depletion to Favor Growth
The changing climatic pattern due to growing fluctuation in precipitation and temperature is leading to the rapid-paced depletion of fresh groundwater. According to the data by the United States Geological Survey (USGS), the depletion rate was about 25 km3 on an average per year between 2000 and 2008. This is expected to boost the demand for advanced rainwater harvesting initiatives globally. Moreover, increasing demand for harvesting or rainwater from the residential and commercial complexes is expected to bode well for the global rainwater harvesting market growth in the forthcoming years.
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Segregation of Market:
We have segregated the market based on type, harvesting method, installation, and region. On the basis of type, the market is segmented into a rain barrel system, dry system, wet system, and green roof system. On the basis of harvesting method, the market is segregated into above ground harvesting and underground harvesting. Moreover, based on installation, the market is segmented into industrial, commercial, residential, and agricultural. Lastly, on the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
What does the Report Include?
The market for report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market.
It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
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Europe – The region is expected to hold considerable share in the global rainwater harvesting market in terms of revenue in the forthcoming years. This is attributable to the presence of established rainwater harvesting manufacturers in countries such as the U.K. and Germany in the region.
Asia-Pacific – The market in the region is experiencing substantial growth backed by the increasing demand for water across several industrial applications such as manufacturing plants, residential and commercial spaces, and others in the region between 2020 and 2027.
Facility Expansion by Major Companies to Brighten Their Market Positions
The global market for rainwater harvesting is consolidated by the presence of major companies focusing on maintaining their presence by expanding their facilities to cater to the growing demand for efficient water storage solutions. Moreover, other key players are adopting strategies such as merger and acquisition, partnership, and collaboration that will bode well for the market growth in the forthcoming years.
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List of the Companies Profiled in the Global Market:
Global Rainwater Harvesting Market Segmentation:
By Harvesting Method
Table of Content:
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