Although rainwater harvesting is not a new concept, its potential as an alternative source of water has gained significant traction over the past decade, particularly in developing regions of the world. In the current scenario, the effects of climate change and water-related problems continue to grow across cities. In their efforts to address issues related to water scarcity, multiple countries are leaning toward advanced rainwater harvesting techniques.
The rainwater harvesting market is expected to witness significant developments during the forecast period (2019-2027), owing to a range of factors including water scarcity, significant urbanization, and flooding. Rainwater harvesting systems are gaining significant popularity worldwide, and would replace existing water management practices in the coming years. These factors, along with growing awareness pertaining to the benefits of rainwater harvesting are expected to drive the global rainwater harvesting market, which is expected to reach a value of ~US$ 1.3 Bn by the end of 2027.
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Adoption of Rainwater Harvesting for Sustainable Agriculture on Rise
Over the course of the past couple of decades, water management and conservation activities have received significant limelight. Several industrial and non-industrial sectors are observing the advantages of rainwater harvesting, including the agriculture sector. A shift toward rainwater harvesting is largely driven by two factors – exponential rise in the demand for water and scarcity of water. The United Nations deems water availability as a major problem in the 21st century. Rainwater harvesting has emerged as one of the most efficient and reliable water conservation techniques and its adoption, particularly in the agriculture sector is expected to grow across the world in the near future.
Rainwater harvesting finds several applications within the agriculture space. Unpredictable or intense rainfall due to climate change causes significant damage to the agricultural land. Rainwater harvesting techniques can be deployed to divert rainwater to subsurface, thereby protecting the problems of significant damage. Moreover, rainwater harvesting offers significant promise in minimizing the operating costs of farmers. The agricultural application segment is expected to account for ~11% share of the rainwater harvesting market and attain a market value of ~US$ 138.5 by 2027.
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Rainwater Harvesting Initiatives to Increase Adoption
Rainwater harvesting initiatives have gained significant momentum over the past few years. For instance, the Global Rain Harvesting Collective (GRWHC) was established to offer clean drinking water across schools, wherein water shortage was a challenge. The objective of this project was to ensure that students across the schools, especially in remote and rural areas, had access to clean drinking water. Another aim of this project was to significantly reduce the number of water-borne diseases. The success of such initiatives has compelled stakeholders operating in the rainwater harvesting market to invest in similar projects thus, boosting the growth of the rainwater harvesting market in the coming years.
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Asia Pacific and Europe to be Major Regions of Rainwater Harvesting Market
With a collective market share of ~81%, Asia Pacific and Europe are the major regions of the rainwater harvesting market. Countries in these regions have adopted different rainwater harvesting techniques to address their water management problems. For instance, owing to significant efforts by environment-conscious organizations, rainwater harvesting gained significant popularity in Germany, which in turn saw significant rainwater harvesting systems being deployed in industrial and commercial sectors. The construction of the “Postdamer Platz” is an example that displays the support of the Government of Germany toward rainwater harvesting initiatives. At present, China is leaning toward rainwater harvesting to meet the mounting demand for freshwater in residential and commercial sectors. The Government of China is increasingly investing in rainwater harvesting projects to provide fresh water to the agricultural sector.
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Analysts’ Viewpoint
The rainwater harvesting market is expected to expand at a CAGR of ~6% during the forecast period. Due to climate change, water management and scarcity is a growing problem in various regions across the world. This is increasing the demand for rainwater harvesting systems. The Asia Pacific and Europe will continue to be at the forefront in terms of the adoption of rainwater harvesting techniques, as governments in these regions have extended significant support. Stakeholders in the current rainwater harvesting market landscape should focus leveraging opportunities in developing regions of Asia Pacific to improve their position in the rainwater harvesting market.
Rainwater Harvesting Market: Introduction
Rainwater Harvesting Market: Key Highlights
Rise in Demand for Above Ground Rainwater Harvesting in Residential Sector
Demand for Rainwater Harvesting to Increase in Residential and Commercial Sectors
Key Regional Highlights
Rainwater Harvesting Market: Competition Landscape
The report comprises detailed company profiles of major players operating in the global rainwater harvesting market. It also consists of market share analysis and product mapping of top players operating in the global rainwater harvesting market for 2018.
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