Latest TMR Report Explores Impact of COVID-19 Outbreak on Rainwater Harvesting Market
Key Highlights
- In terms of value, the global rainwater harvesting market is anticipated to expand at a CAGR of ~6% from 2019 to 2027
- The earth’s surface is covered with about 70% of water; however, 97% of the total water available on the earth is saline and only 3% of it is fresh water. Out of the total fresh water available, ~70% is in the form of snow cover and glaciers, ~31% is groundwater, and around 0.3% is present in rivers and lakes. Globally, 69% of the water withdrawn is used for agricultural purposes; 23% is employed for industrial purposes; and 8% is used for domestic purposes.
- Rainwater harvesting is a technology utilized to collect rainwater from land surfaces, rooftops, and rock catchments, and storing it for future use. Harvested water has been a good alternative source to fresh water. Additionally, rainwater harvesting is an eco-friendly technology that is also called ‘green practice,’ as it does not hamper the environment.
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High Cost of Rainwater Harvesting to Hamper Demand
- In developed countries, rainwater harvesting systems incur high initial investments, which vary depending on the size and technology of the plant. These systems also require regular maintenance. High cost of rainwater harvesting is a major factor that is expected to hamper the global market. It is also anticipated to hinder the adoption rate of rainwater harvesting in various applications.
- Low storage capacity adversely affects the demand for rainwater harvesting, while high storage capacity adds to construction and operating costs, making the technology less economical. This is another key factor estimated to hamper the global market.
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High Adoption of Rainwater Harvesting in Commercial Application
- Based on application, the global rainwater harvesting market has been segregated into residential, commercial, industrial, and agriculture
- The commercial segment accounted for more than 40% share of the global rainwater harvesting market in 2018. Rainwater harvesting in commercial projects includes collection of rooftop rainwater, condensate from graywater and air handlers from showers, stormwater runoff, and lavatory sinks and baths. This water is used in various non-potable applications such as irrigation, toilet flushing, and cooling towers.
- Adoption of rainwater harvesting in residential and commercial applications is estimated to overcome water scarcity issues, primarily in regions where additional water resources are scarce and difficult to access. This is another factor that is likely to fuel the demand for rainwater harvesting in the residential segment.
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Rainwater Harvesting Market: Competition Landscape
- The global rainwater harvesting market was highly fragmented in 2018, with numerous manufacturers operating in the market. Kingspan Group, Watts Water Technologies, Inc., Graf Group, Rain Harvesting Supplies, Inc., and Stormsaver accounted for more than 25% share in 2018
- Key players are consistently focusing on the development of high quality rainwater harvesting components with the objective to improve product offerings and gain competitive edge in the global rainwater harvesting market
Key manufacturers operating in the global rainwater harvesting market include:
- Kingspan Group
- Watts Water Technologies, Inc.
- Graf Group
- WISY AG
- Innovative Water Solutions LLC
- D&D Ecotech Services
- Rain Harvesting Supplies, Inc.
- Water Field Technologies Pvt. Ltd.
- Stormsaver
- Climate Tanks
- Water Harvesters
- Heritage Tanks
- HarvestRain
- Rainwater Connection
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