As per a report published by Global Market Insights; the rainwater harvesting system market size is likely to reach USD 7.9 billion by 2027.
Rising awareness regarding water scarcity among population in large is expected to boost the adoption of rainwater harvesting systems worldwide. The mandates regulated by the governments for strict water conservations and rainwater harvesting in the new construction may intensify the need for such systems across residential and commercial spaces.
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New residential establishment across urban localities are installing rooftop rainwater harvesting systems as to its numerous benefits in maintaining continuous freshwater supply. Apart from urban areas, these water harvesting systems are also gaining grip rural establishments in the agriculture sector. Rising need to enhance food production may results in increased consumption of water, consequently paving the way for new growth strides for rainwater harvesting systems providers.
Mentioned below are some of the trends that may supplement this growth:
Rising awareness across North America
Steady adoption and installation of rainwater harvesting systems in the U.S. combined with the increasing population is expected to boost the industry landscape across North America. Government policies and initiatives for promoting the rainwater harvesting may benefit regional manufacturers and suppliers. As per a report, the North America rainwater harvesting system market is expected to witness significant growth, accounting for around 12% of the share in 2027.
Rooftop rainwater harvesting system gaining grip
The rooftop rainwater harvesting system market growth is attributed majorly to rising setting up of rooftop rainwater harvesting systems in commercial and residential buildings. These systems provide benefits like low set up cost, easy installation, and high-quality water that is soft and low in minerals. As per a report, the rooftop rainwater harvesting system segment accounted for over 66% of the overall market in 2020.
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Emerging demand for eco-friendly systems
The demand for environmentally friendly systems and sustainable practices is skyrocketing combined across the globe. Rising population in the U.S and Asia Pacific region have led to instances of water scarcity. Overuse of water and climatic changes may result in increasing demand for the installation of rainwater harvesting systems in various regions.
Along with this, increasing consumption of water in the agriculture sector may also propel the demand for these system. Growing concerns like rising population, wastage of water, and large scale requirement for water in developing countries like Brazil, China, India, and Indonesia is estimated to boost the rainwater harvesting system market globally in the next few years.