Water is one of the finite resources that is becoming more and more precious every day as a result of a number of issues, including pollution, waste, unpractical use, and climate change, among others. In order to prevent a potential water crisis, there is an increasing demand for rainwater harvesting solutions worldwide. The idea of collecting rainwater is not new, and it has been used to varyingdegrees in many regions.
The technique of collecting, purifying, and storing rainwater from different surfaces above ground that can be utilized for different applications is known as rainwater harvesting. These technique helps to restore the level of groundwater and balance the environmental concerns over water.
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The water collected from the rain can be utilized for washing machines, watering livestock, toilet flushing, and irrigation of gardens and crops. Both urban dwellers with access to running municipal water and residents of more rural areas who might not have access to a sufficient water supply can harvest and use rainwater. Rooftop and surface-based rainwater harvesting are the two types of rainwater collection techniques with the advantage of saving money and resources.
Alternative water conservation strategies are being developed around the world as a result of rising water demand, declining freshwater supplies, and industrial water users that have severely exhausted the world's water resources. Although water usage can be improved, there will still be an increase in demand for water as almost every industrial sector grows. According to Persistence Market Research, the global market for rainwater harvesting would grow at a CAGR of more than 6.9% from 2017 to 2033.
Rainwater harvesting system demand is experiencing growth in the global market, and as a result, market participants are increasing their investments in this sector. With this increase in the number of market participants, the global rainwater harvesting market is set for rapid growth in the forecast period. Future sales will increase as a result of suppliers' desire to meet the needs of key applications and their pursuit of new system development. This will offer lucrative opportunities for market players in the forecast period. Increased competition has only led to more product offerings, and the suppliers are aiming to strike a balance between cost and quality. All of these factors contribute to and fuel the global market for rainwater harvesting systems.
Due to changing consumer preferences, product launches are targeted at different consumer audiences, such as those with simple systems or complex systems. As per the demand of customers, these technological developments provide new opportunities, and this is a measure of the rapidly improving sales of rainwater harvesting systems.
Sometimes there is a lack of user acceptance, enthusiasm, and involvement, which has a detrimental effect on the market. Hydrological data and knowledge are insufficient for confident system planning, design, and implementation. Additionally, socioeconomic problems like unemployment and land tenure are generally underestimated. People typically lack or have an outdated understanding regarding rainwater harvesting and usage, which prevents them from taking full advantage of rainwater resources.
Existing water resources are under stress due to the growing worldwide concern over limited water supplies. It applies to the entire world, not just certain geographical areas or nations. To encourage end users to conserve water by installing rainwater harvesting systems, governments in developing countries have introduced a number of programs and activities on a local and large scale. These programs can improve knowledge of this important component of water consumption and collection. In regions with moderate to heavy rainfall, there is a great need for rainwater harvesting. Due to the high water usage in these applications, adoption in commercial and industrial settings is rapidly increasing. These elements generate a wide range of possible opportunities for rainwater harvesting suppliers.
The market in the U.K. will experience growth with a CAGR of around 8.1% in the forecast period. In the U.K., there is a high concentration of rainwater harvesting suppliers and distributors. The presence of multiple sales channels is very high compared to other countries and this makes U.K. market lucrative. This has led the country to acquire a larger market share in the European market. There have been notable developments from the supplier side with regard to the new product offerings.
India accounts for roughly one-third of the South Asia-Pacific rainwater harvesting market. India is an agriculture-dominated country with developments in various industrial and commercial sectors that place a high demand for water. A vastly developing commercial sector and ongoing urbanization have led the market in India to grow manifold in the past few years. The ever-growing population in India will seek water in the coming few years, and hence the increasing inclination towards rainwater harvesting is rapid in this country. India is expected to grow significantly in the upcoming year with around 8.8% CAGR in 2023-2033.
The potential for underground rainwater harvesting to develop seems to be quite great as future land use becomes more constrained. Geographical issues, whether they relate to land space or something else, have a big effect on this business. There will be a huge ground surface where installing individual rainwater systems can be difficult as cities grow and commercialization picks up momentum.
The market for rainwater harvesting is dominated by systems for collecting wet rainfall. End-users prefer wet systems because the water from these systems can be used repeatedly each year. Compared to dry systems, they provide a higher return on investment and can store a significant amount of water without taking up any ground space since they are put underground.
Though commercial spaces like public institutions, shopping malls, offices, hotels & restaurants, and other hubs have a tendency to use more water for both potable and non-potable purposes, rainwater harvesting in these locations is predicted to increase.
The global rainwater harvesting market size reached a value of almost USD 858.9 million in the year 2020. The industry is further expected to grow at a CAGR of 4.5% between 2021 and 2026 to reach a value of almost USD 1118.5 million by 2026.
The global rainwater harvesting market is driven by depleting groundwater levels. The industry is expected to undergo significant developments in the forecast period due to several factors such as considerable urbanisation, water scarcity, and flooding.
Rainwater harvesting is referred to as a method of collecting and storing water to be used in the future. The rainwater may be stored in natural reservoirs or tanks where the water is then redirected into a well or borehole. This water is used for different purposes, such as gardening or irrigation. After proper treatment of this water, it may also be used in households as high-quality drinking water. It not only decreases urban flooding and soil erosion but also ensures water availability in water-scarce areas.
The global rainwater harvesting market is driven by the rapidly increasing global population. This has led to an intensification of the pressure on natural water resources. Consequently, consumers are shifting from natural water resources to the storage of water via various effective means, such as rainwater harvesting, to keep the depletion of groundwater level under check. Moreover, due to the minimum maintenance, easy installation process, and availability in a wide range of tank sizes and types, rainwater harvesting is becoming one of the most popular and adopted water harvesting mechanisms across the globe. Further, governments of several countries are promoting campaigns and initiatives to encourage the adoption of rainwater harvesting in both domestic as well as industrial sectors. They are also offering tax relaxations and incentives to encourage the use of these systems.; for example, the Government of India's investments into the construction of numerous rainwater harvesting structures in the rural and urban areas of the country, which is expected to assist in an equal distribution of and accessibility to drinking water. Decreasing fresh water is expected to accelerate the industry in the forecast period.
The report gives a detailed analysis of the following key players in the global rainwater harvesting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The major drivers of the market such as rising disposable incomes, increasing population, rising pressure on natural water resources, shift from natural to storage water, and tax relaxations and government incentives for adopting rainwater harvesting are expected to aid the market growth.
The global rainwater harvesting market attained a value of USD 858.9 million in 2020 driven by the depleting natural water resources. Aided by favourable government programmes, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.5%. The market is projected to reach USD 1118.5 million by 2026.
In 2020, the global rainwater harvesting market attained a value of about USD 858.9 million.\n"}},"@type":"Question","name":"What is the growth rate of the market?","acceptedAnswer":"@type":"Answer","text":"In the forecast period of 2023-2028, the market is projected to grow at a CAGR of 4.5%.\n","@type":"Question","name":"What is the forecast outlook of the market for 2023-2028?","acceptedAnswer":"@type":"Answer","text":"By 2026, the market is estimated to reach a value of nearly USD 1118.5 million.\n","@type":"Question","name":"What are the major market drivers?","acceptedAnswer":"@type":"Answer","text":"The major drivers of the market such as rising disposable incomes, increasing population, rising pressure on natural water resources, shift from natural to storage water, and tax relaxations and government incentives for adopting rainwater harvesting are expected to aid the market growth.\n","@type":"Question","name":"What are the key industry trends of the global rainwater harvesting market?","acceptedAnswer":"@type":"Answer","text":"The major trends guiding the growth of the market are the government programmes and campaigns encouraging the adoption of rainwater harvesting across domestics and industrial sectors.\n","@type":"Question","name":"What are the major regions in the industry according to the market report?","acceptedAnswer":"@type":"Answer","text":"The major regions in the markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.\n","@type":"Question","name":"What are the leading harvesting methods in the industry?","acceptedAnswer":"@type":"Answer","text":"The major harvesting methods in the industry are above ground and underground.\n","@type":"Question","name":"What are the significant application segments in the industry?","acceptedAnswer":"@type":"Answer","text":"The leading application segments in the industry are commercial, residential, and industrial sectors.\n","@type":"Question","name":"Who are the key industry players according to the report?","acceptedAnswer":"@type":"Answer","text":"The key players in the market are Kinspan Group, Watts Water Technologies Inc., Otto Graf GmbH, WISY AG, and Innovative Water Solutions LLC, among others.\n"]} $(function () var WindowSize = window.matchMedia("(max-width:480px)"); if (!WindowSize.matches) var top = $('#LeftImageFixed').offset().top - parseFloat($('#LeftImageFixed').css('marginTop').replace(/auto/, 0)); var footTop = $('#footerstick').offset().top - parseFloat($('#footerstick').css('marginTop').replace(/auto/, 0)); var maxY = footTop - $('#LeftImageFixed').outerHeight(); $(window).scroll(function (evt) footTop = $('#footerstick').offset().top - parseFloat($('#footerstick').css('marginTop').replace(/auto/, 0)); maxY = footTop - $('#LeftImageFixed').outerHeight(); var y = $(this).scrollTop(); if (y > top) if (y 2){var r=q:e;currentRequest=$.ajax({url:" ",type:"POST",dataType:"json",data:r,beforeSend:function()null!=currentRequest&¤tRequest.abort(),success:function(e){$("#search-area-outer").removeClass("hide");var r="";if(0==e.report.length)r+='No Reports found for given criteria. 2ff7e9595c
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