Rainwater Harvesting System Market opportunities and forecast assessment, Forecoming Years

Persistence Market Research analysis projects the global rain water harvesting system market to expand at an impressive CAGR of close to 7% over the forecast period of 2021-2031.

A critical factor driving sales of rainwater harvesting systems is increasing consumption of water as a result of growth in population and rapid industrialization. Other demand drivers include decreasing freshwater availability, increased usage in agriculture, and rising commercial spaces across various countries.

While measures are being put in place to derive potable water from rain water harvesting, it is cited as a dependable source for various non-potable uses as well.

Key Players:

The report has profiled some of the Important players prevalent in the global like - Kingspan Group PLC, Watts Water Technologies, Inc., Graf Group, and Water Harvesters and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Rainwater Harvesting System.

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Key Takeaways from Market Study

Rain water harvesting is gaining prominence as urbanization is taking shape. In emerging markets, these systems are being adopted as a means for water conservation due to the onset of the global water crisis and uneven rainfall patterns.

Various government regulations are being formulated and system usage is being monitored to ensure that concerned areas have installed rain water harvesting systems, especially for new building retrofits.

The U.S. is positioned as the top nation in the global market, with the highest market value share. Demand in the U.S. will increase at over 5% CAGR over the next ten years.

In 2021, the market in Japan grew 5.8% year-on-year, bucking initial skepticism about how the market would perform during a global pandemic.
Underground rain water harvesting systems (also popularly known as wet systems) are poised for lucrative growth over the forecast period. Cost feasibility and annual water compatibility are key factors leading to their high adoption rate, especially in residential areas.

The market for application in the commercial area is expected to create an absolute dollar opportunity of US$ 560 Mn from 2021-2031. Rain water harvesting systems in commercial spaces such as public institutions, shopping malls, offices, hotels & restaurants, and other centers are expected to pick up, as these places have a trend of increasing water usage, for both, potable as well as non-potable purposes.

"The number of industrial and commercial end uses of rain water harvesting systems will surge with proliferated water usage over the next few years. Government initiatives and regulatory frameworks are crucial for market," says a Persistence Market Research analyst.

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This release was published on openPR.