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Global Rainwater Harvesting System Market Size By Product (Tanks, Accessories), By Application (Commercial, Residential), By Geographic Scope And Forecast
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Rainwater Harvesting System Market Size And Forecast
Rainwater Harvesting System Market size was valued at USD 1.042 Billion in 2024 and is projected to reach USD 1.549 Billion by 2031, growing at a CAGR of 5.6% from 2024 to 2031.
The rising water consumption is the major factor that is accelerating the growth of the global rainwater harvesting systems market. Moreover, increasing usage of rainwater harvesting for groundwater recharge is the major trend in the market growth. The Global Rainwater Harvesting System Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Rainwater Harvesting System Market Definition
Water is one of the important and limited resources that are dwindling day by day due to several factors such as pollution, impractical usage, and wastage, and climate change among others. Globally, the demand for water conservation technologies is growing to mitigate the future water crisis. Rainwater harvesting is one such technology that can soothe the current challenges of global water availability. Rainwater harvesting is not a new concept and adopted in a greater or minor capacity in many regions.
Rainwater is one of the most recurring sources of fresh water available to the population across the globe. Rainwater harvesting is defined as a system that collects and stores the rainwater that runs off from parks, roads, rooftops, open grounds, etc. The runoff water can either be stored or directed towards groundwater. The rainwater harvesting system includes components such as Tanks, a catchment, a conveyance system that carries the stored water, the various filters to flush out dirt and pollutants. The water storage depends on the employed products such as tanks, and related accessories including, water meters, tank gauges & meters, among others.
The rainwater harvesting systems market is primarily driven by the rising consumption of water and increasing demand for rainwater harvesting systems from farmers and big cultivars. Increasing demand from agriculturalists is because of the high requirement of water for irrigation which is a necessity for the maintenance of crop yield and tackling climate calamities such as drought. Rainwater harvesting has several applications within the agriculture space.
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Global Rainwater Harvesting System Market Overview
The rising water consumption is the major factor that is accelerating the growth of the global rainwater harvesting systems market. An increasing population and increasing use of water in various industries such as agricultural, chemicals, and construction industries by builders and manufacturers are increasing water consumption across the world in the last few years. Water use has been increasing worldwide by about 1% per year. Moreover, the global water demand is expected to continue increasing at a similar rate until 2050, accounting for an increase of 20 to 30% above the current level of water use, mainly due to rising demand in the industrial and domestic sectors.
Rainwater harvesting finds several applications in agricultural space. Intense or unpredictable rainfall due to climate change causes significant damage to agricultural land. Rainwater harvesting techniques can be used to divert rainwater to the subsurface, thereby protecting the problems of significant damage. In addition, rainwater harvesting offers significant promise in minimizing the operating costs of farmers. This is due to the calcium carbonate from hard water normally piling up in pumps or sprinklers causing blockages. When such equipment is blocked, money is employed to unblock their pathways. In contrast, such problems are not usually related to the use of soft water in farming operations, thus reducing the cost to maintain crops.
Thus, the demand for this system increases from the farmers and cultivators, which in turn bolsters the growth of the Rainwater Harvesting System Market. The growing water scarcity continues to affect multiple societies worldwide despite significant efforts being made to curb these problems. Climate change and depleting groundwater resources have also laid to increase the demand for rainwater harvesting systems. In the current situation, the effects of climate change and water-related problems continue to grow across cities. In terms to address issues related to water scarcity, multiple countries are leaning toward rainwater harvesting techniques. The rigorous water crisis in cities as well as in rural areas due to improper management of water resources and better alternatives to save water individually is driving the rainwater harvesting systems market.
Growing urbanization in terms of the emergence of green buildings and smart cities has also attributed to the growth of this market. Market experts have identified that several governments across the world have taken initiatives to develop smart cities. However, The rainwater harvesting system is often related to high installation costs for existing buildings. The cost of these systems cannot be generalized as it varies depending on the site and size of the tank. Besides, these systems can be used only in the rainy season. Hence, the investment in this system will not have returns throughout the year. However, the high costs of installing rainwater harvesting system are the factor that might restrict the market growth.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Rainwater Harvesting System Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the global Rainwater Harvesting System Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Global Rainwater Harvesting System Market Segmentation Analysis
The Global Rainwater Harvesting System Market is segmented on the basis of Product, Application, And Geography.
Rainwater Harvesting System Market, By Product
- Tanks
- Accessories
- Services
To Get Summarized Market Report By Product:-
Based on Product, the market is segmented into Tanks, Accessories, and Services. In 2020, the Tanks segment dominated the market accounting for the largest market share. A rainwater tank also called a rain barrel is a water tank used to gather and store rainwater streams, usually from rooftops via pipes. Rainwater tanks are fitted to make use of rainwater for later use, reduce mains water use for economic or environmental reasons, and aid self-sufficiency.
Rainwater Harvesting System Market, By Application
- Commercial
- Residential
- Industrial
- Agricultural
To Get Summarized Market Report By Application:-
Based on Application, the market is segmented into Commercial, Residential, Industrial, and Agricultural. In 2020, the commercial segment dominated the market accounting for the largest market share. Commercial Rainwater systems can collect huge volumes of rainwater from commercial buildings and repurpose it in a wide range of applications to help businesses save money and ultimately save millions of gallons of water.
Rainwater Harvesting System Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
On the basis of Geography, the Global Rainwater Harvesting System Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounted for the largest market share in 20202, majorly due to the increasing presence of rainwater harvesting companies and related suppliers, and increasingly conducive regulatory reforms in the region. The U.S has a strong public water delivery system that provides access to both urban and rural populations.
In recent years, the overuse of water resources for agriculture and industries along with global warming has resulted in the increasingly restricted availability of freshwater supply. According to a US s Environmental Protection Agency report, the average U.S. domestic indoor per capita water use is projected to be around 265 liters per day. Out of this, around 25 to 58 % of total household water is utilized for landscape irrigation and other outdoor activities.
Key Players
The “Global Rainwater Harvesting System Market” study report will provide valuable insight with an emphasis on the global market including some of the major players are Snyder Industries, CST Industries, Caldwell Tanks, Wahaso, Norwesco, Bushman USA, among others.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
