Global Rainwater Harvesting Market: Snapshot
The continuous increase in the global population is leading to a rising demand for clean, usable water, which is intensifying the pressure on water resources. This, as a result, is propelling the growth of the global market for rainwater harvesting substantially. The market offered an opportunity worth US$0.70 bn in 2016. Researchers expect it to rise at a CAGR of 5.70% over the period from 2017 to 2025 and reach a value of US$1.14 bn by the end of 2025.
Above Ground Method More Popular
Predominantly, the worldwide rainwater harvesting market is studied on two fronts: the harvesting methods and the end user. Based on the harvesting method, the rainwater harvesting market is categorized into above ground method and below ground method. Among the two, the above ground harvesting method segment led the global market in 2016. Researchers expect the scenario to remain so in the near future. Storage tanks, a sub-segment of the above ground harvesting method, is projected to emerge highly lucrative over the next few years.
Based on the end user, the market is bifurcated into the residential, commercial, industrial, and the agricultural sectors. The demand for rainwater harvesting has been relatively higher in the commercial sector and the trend is expected to remain so in the years to come.
The global market for rainwater harvesting is highly competitive and fragmented with the presence of a large pool of small and medium-scale players. Some of the players operating in this market are Kinspan 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 Inc., Water Harvesters, Heritage Tanks, HarvestRain, and The Gulf Islands Rainwater Connection Ltd.