LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the global rainwater harvesting market is expected to reach close to USD 962 million by 2020.
This research report titled ‘Global Rainwater Harvesting Market 2016-2020’ provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.
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“Based on end-users, the global rainwater harvesting market is segmented into the residential, commercial, and industrial segments. In 2015, the commercial segment held the largest market share with 42.6%. It was followed by the residential segment with 30.6% and the industrial segment with a 26.8% market share,” said Lawrence Prithviraj, one of Technavio’s lead analysts for water and waste management.
Global rainwater harvesting market by end-user 2015
| Commercial | 42.6% | |||
| Residential | 30.6% | |||
| Industrial | 26.8% |
Source: Technavio research
Top three segments of the global rainwater harvesting market by end-users:
Largest segment: global rainwater harvesting by the commercial segment
The commercial segment includes malls, hotels, educational campuses, and hospitals. The use of non-potable systems is high in this segment. These systems are available in different sizes and incorporate different types of tanks depending on the requirements. The use of these systems is cost-effective for buildings with large roofs and high demand for non-potable water.
The cost of installation of a 1,000-gallon non-potable system could vary from USD 2 million to USD 3 million. With the increase in size for storage in gallons, the cost of the system goes down. For example, a 20,000-gallon tank that can be used for four households costs USD 20,000. Also, pre-engineered packaged units are available in the market. With the availability of cost-effective systems and customization, the demand for rainwater harvesting systems in this segment is expected to witness moderate growth during the forecast period.
Second largest market: global rainwater harvesting by the residential segment
The residential segment generated revenue of USD 233 million in 2015 and is expected to witness steady growth during the forecast period. With the rising requirements of water conservation facilities, financial incentives such as grants, loans, discounts, and rebates are gaining importance. These grants are offered through government programs. For instance, San Francisco Public Utilities Commission in the US offers grants through the Urban Watershed Stewardship program that provides assistance to manage storm water. Similarly, New York's green infrastructure program helps tackle storm water issues by providing funds to property owners and commercial properties for rainwater harvesting.
In 2015, the US created American Rainwater Catchment Systems Association (ARCS) to develop and approve an American National Standard to assist professionals in deploying rainwater harvesting systems safely. In addition, rainwater harvesting is mandatory in new homes above a certain size in many countries, including the US.
Global rainwater harvesting by industrial segment
The industrial segment is expected to witness moderate growth during the forecast period. Its growth is attributed to government support and the growing demand for water in various industries such as F&B, agriculture, power, pharmaceutical, mining, oil and gas, and others. Approximately, 20.1% of the global water is used for industrial use. In industrialized countries such as the US, Japan, and China, this percentage may go up to 60%.
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