TMR Analyzes Impact of Outbreak of COVID-19 on Rainwater Harvesting Market

 Key Highlights

• In terms of value, the global rainwater harvesting market is anticipated to expand at a CAGR of ~6% from 2019 to 2027
• The earth’s surface is covered with about 70% of water; however, 97% of the total water available on the earth is saline and only 3% of it is fresh water. Out of the total fresh water available, ~70% is in the form of snow cover and glaciers, ~31% is groundwater, and around 0.3% is present in rivers and lakes. Globally, 69% of the water withdrawn is used for agricultural purposes; 23% is employed for industrial purposes; and 8% is used for domestic purposes.
• Demand for fresh water is increasing rapidly across the globe. This has resulted in extensive usage of existing water supplies such as groundwater sources. The level of groundwater has reduced significantly, resulting in scarcity of fresh water. Several countries have started making use of the previously unexploited freshwater sources.
• Rainwater harvesting is a technology utilized to collect rainwater from land surfaces, rooftops, and rock catchments, and storing it for future use. Harvested water has been a good alternative source to fresh water. Additionally, rainwater harvesting is an eco-friendly technology that is also called ‘green practice,’ as it does not hamper the environment.

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High Cost of Rainwater Harvesting to Hamper Demand

• In developed countries, rainwater harvesting systems incur high initial investments, which vary depending on the size and technology of the plant. These systems also require regular maintenance. High cost of rainwater harvesting is a major factor that is expected to hamper the global market. It is also anticipated to hinder the adoption rate of rainwater harvesting in various applications.
• Low storage capacity adversely affects the demand for rainwater harvesting, while high storage capacity adds to construction and operating costs, making the technology less economical. This is another key factor estimated to hamper the global market.

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Above Ground to be Most Preferred Harvesting Method

• In terms of harvesting method, the above ground segment is expected to expand at a CAGR of 5.5% during the forecast period. The above ground harvesting method has been further sub-segmented into ground surface and storage tank. The above ground harvesting method is primarily preferred in residential, commercial, and agriculture application segments.

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Rainwater Harvesting Market: Competition Landscape

• The global rainwater harvesting market was highly fragmented in 2018, with numerous manufacturers operating in the market. Kingspan Group, Watts Water Technologies, Inc., Graf Group, Rain Harvesting Supplies, Inc., and Stormsaver accounted for more than 25% share in 2018
• Key players are consistently focusing on the development of high quality rainwater harvesting components with the objective to improve product offerings and gain competitive edge in the global rainwater harvesting market
• Key manufacturers operating in the global rainwater harvesting market include:
  • Kingspan 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 Tanks
  • Water Harvesters
  • Heritage Tanks
  • HarvestRain
  • Rainwater Connection

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