Rising Urbanization to Drive Asia Pacific Stormwater Management Market to $ 1.9 Billion by 2023: TechSci Research

Increase in the number of rainstorms and floods coupled with growing government initiatives and investments in stormwater management to drive Asia-Pacific stormwater management market through 2023
According to TechSci Research report, “Asia-Pacific Stormwater Management Market By Tool, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023, stormwater management market in Asia-Pacific is forecast to reach $ 1.90 billion by 2023, owing to increasing number of intense floods and storms, and government regulations aimed at efficiently managing wastewater and stormwater across the region. With growing population in the region, water consumption is also increasing, thus to cater the demand for safe and quality water, both private and public water management companies are shifting their focus towards the management of surface run off. Moreover, growing urbanization and industrial sector are increasing the level of contamination in freshwater sources. With growing focus of governments on increasing the groundwater level and minimizing land losses due to heavy rainfall and flood, the region’s stormwater management market is expected to register strong growth in the coming years.
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Municipal sector accounts for the dominating share in the Asia-Pacific stormwater management market, on the back of increasing number of government regulations aimed at minimizing water pollution and making efficient use of stormwater. Increasing investments and growing technological advancements to upgrade water management infrastructure are also shifting the governments and private companies’ focus to stormwater management as compared to conventional methods of water and wastewater management. Additionally, government standards and guidelines to include stormwater management in building guidelines and urban planning, majorly in developing economies like India, are expected to boost the application of stormwater management across various sectors in the region.
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“China leads the Asia-Pacific stormwater management market, owing to stringent government regulations and availability of advanced technological tools for stormwater management in the country. In the coming years, with increase in number of floods and storms, and high rain and snowfall in Asia-Pacific, implementation of stormwater management is anticipated to grow at a robust pace. Moreover, increasing government initiatives and investments to build sustainable infrastructure and improve groundwater level and quality would drive the demand for stormwater management in the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asia-Pacific Stormwater Management Market By Tool, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of stormwater management market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in Asia-Pacific stormwater management market.

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