Rainwater Harvesting Market Set to Grow at 5% CAGR to 2020
PUNE, India, February 19, 2016 /PRNewswire/ --
The global rainwater harvesting market report cites water scarcity as the major growth factor while inadequate water management and improper re-use of water are cited to be the reasons for the water scarcity. Rainwater harvesting is an affordable solution to overcome such water stress. Also, it could be a vital alternative for a decentralized water source. This alternative water source reduces the use of fresh water from the surface and groundwater sources. The harvested rainwater can be used for agricultural, domestic, and industrial use.
Complete report on rainwater harvesting market spread across 45 pages, analyzing 4 major companies and providing 20 data exhibits is now available at http://www.reportsnreports.com/reports/477159-global-rainwater-harvesting-market-2016-2020.html
The analysts forecast global rainwater harvesting market to grow at a CAGR of 5% during the period 2016-2020. The rainwater harvesting system is used to recharge groundwater artificially. This method is primarily followed to improve and develop groundwater resources. The primary methods for groundwater recharge are recharge pits, recharge trenches, tube wells, and recharge wells.
Rainwater harvesting is the process that encompasses the collection and storage of rainwater for a vast array of agricultural, commercial, and domestic purposes. Roof-based and land-based rainwater harvesting are the two major types of rainwater harvesting processes. The global rainwater harvesting market will experience moderate growth during the forecast period and will be positively affected by the growing water scarcity, which is prevalent across the globe. In 2014, around 800 million people worldwide lacked access to water. In 2015, the United Nations Environment Program stated that over two billion people were likely to face high water stress conditions by 2050. Order a copy of Global Rainwater Harvesting Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=477159
In this market study, analysts had observed that the commercial rainwater-harvesting segment dominated this market during 2015. At present, this market segment accounted for a market share of more than 42% and is envisaged to further enhance its dominating hold over the market until 2020 owing to the extensive use of rainwater harvesting systems in malls, hotels, educational campuses, and hospitals. With the large-scale availability of cost-effective systems and customization, the demand for rainwater harvesting systems in this segment is anticipated to witness moderate growth until the end of the predicted period.
The Americas will be the largest market for rainwater harvesting during the forecast period. Factors such as rapid industrialization and urbanization will necessitate the use of rainwater systems in this region, and will also result in the in a surge in the number of water storage systems. Comprehensive market research and analysis carried out by the analysts has shown that the rainwater harvesting market in the Americas will account for an impressive market share of more than 44% by 2020.
The global rainwater harvesting market is highly diversified because of the presence of a large number of vendors. The market is characterized by the presence of well-diversified international, regional, and local vendors that operate in developed and developing countries. The market is also expected to undergo rapid growth because of the growing scarcity of water.
The key leading vendors analyzed in rainwater harvesting market research are BRAE, Innovative Water Solutions, Rainwater Harvesting Supply, and Stormwater. Other prominent vendors analyzed in this market study report are Harvest H2O, Kingspan Environmental, Oasis, Rainharvest, SSWM, and Water Harvesters.
Further, the report states that the rainwater harvesting market is often associated with high installation costs for existing buildings. The cost cannot be generalized as it varies depending on the site and size of the tank. Also, these systems can be used only in the rainy season. This results in decreased demand for rainwater harvesting systems.
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