Rainwater Harvesting Market is projected to rise at a CAGR of 5.70% during the period from 2017 to 2025 by omkartmr · January 9 Alex Pietrangelo Canada Jersey , 2019
The global rainwater harvesting market is valued at US$ 702.15 Mn in 2016 and is projected to reach US$ 1,140.85 Mn by 2025 at a CAGR of 5.7% from 2017 to 2025, with above ground harvesting method and commercial end user as highly lucrative segments according to a new Report published by Transparency Market Research (TMR) ( ) titled 鈥淩ainwater Harvesting Market 鈥?Global Industry Analysis, Size, Share Alex Galchenyuk Canada Jersey , Growth, Trends, and Forecast, 2017鈥?025鈥?The dramatic growth of population has increased the demand for water and the pressure on water resources has intensified. Climate change and depleting ground water resources have also laid great stress on the accessibility of water these factors are likely to boost the demand for rainwater harvesting throughout the globe. The rainwater harvesting market in Asia Pacific held a major market share in 2016, and the trend is likely to continue during the forecast period.
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Government legislations Customized Canada Hockey Jersey , incentives, tax exception schemes, and support from NGO鈥檚 to increase awareness, fuels the demand for rainwater harvesting market
World population is continuously growing, and so is water consumption. It is estimated that 2 billion to 3 billion people will be living in water stress areas by 2025. Governments of several countries have started awareness programs for promoting rainwater harvesting. They are also providing incentives and tax exceptions in order to encourage the usage of rainwater harvesting systems. Rainwater harvesting has additional advantages such as lowering of water bills Canada Hockey Jersey , reducing soil erosion and floods, and helps in irrigation. Growth in population, which has led to quest for alternate fresh water sources and government support in creating awareness regarding water scarcity and promoting rainwater harvesting methods, is expected to boost the rainwater harvesting market in the near future.
Long return on investment period may restrain the growth of rainwater harvesting market. However technological advancements creates an opportunity for market growth
In developed nations, rainwater harvesting system involves high initial cost Wayne Gretzky Canada Jersey , depending on the size and the technology level. However, benefits from the system cannot be derived without a good rainfall. The system also requires regular maintenance. Though, the case is quite different in developing nations, wherein simple systems are preferred which require low investment. The return on investment take a considerable time period of 5 to 7 years depending on the system. These factors may restrain the growth of rainwater harvesting market. However, in recent years Tyler Seguin Canada Jersey , technological advancements have helped in reducing the installation and maintenance costs of rainwater harvesting systems. One such advancement is harvesting rainwater with modules made up of plastics. These modules are flexible in shape, provides durability and strength for long period of time and can also be used for storm-water detention. Modular rainwater harvesting shows a great opportunity for rainwater harvesting in the near future.
Above ground harvesting method and commercial end-use segment to dominate the global rainwater harvesting method
The global rainwater harvesting market has been segmented by harvesting methods and by end-user. Based on harvesting method, the rainwater harvesting market is segmented into above ground and below ground, again above ground harvesting method segment is sub-segmented into ground surface and storage tanks. In terms of harvesting method, the above ground harvesting method segment held a major share of the rainwater harvesting market in 2016. Storage tanks Steven Stamkos Canada Jersey , a sub-segment of the above ground harvesting method, is highly lucrative and is expected to expand at a rapid CAGR during the forecast period. Based on end-user, the rainwater harvesting market is segmented into residential, commercial, industrial and agriculture. The commercial end-user segment is highly lucrative and is anticipated to expand at a significant CAGR during the forecast period followed by residential end-user segment.
Population growth Sidney Crosby Canada Jersey , increase in per capita water consumption propels the rainwater harvesting market in Asia Pacific
In terms of region, the Asia Pacific dominated the global rainwater harvesting market in 2016, followed by Europe. The number of installations of rain water harvesting system in Asia Pacific is higher as compared to that in other regions. However, cost per installation of the system in Asia Pacific is lower than that in Europe and North America. The governments of India, China Shea Weber Canada Jersey , Australia, Japan, Thailand, and Singapore are offering incentives for implementing rainwater harvesting systems. Many states in India have passed legislations to mandate rainwater harvesting installations for new constructions. The below ground harvesting method segment accounted for more than 50% share of the market in Asia Pacific in 2016. The market share of the segment is estimated to rise by the end of the forecast period. However, on a global level the above ground harvesting method would dominate the rainwater harvesting market.
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Highly fragmented with medium and small players in the global rainwater harvesting market.
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10.05.2019 09:20
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