The global rainwater harvesting market is anticipated to grow at a significant CAGR during the forecast period. The whole process of the installment and maintenance of rainwater harvesting is not that much complicated and hence the adoption of systems in residential as well as non-residential settings is high, which in turn, is driving the growth of the global rainwater harvesting industry. However, the investment at the time of installation is more which is the only investment required by the systems.
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In addition, many government and non-government organizations run projects that will aid in the process of installment of rainwater harvesting systems mainly in the residential area. For instance, in 2019, Red FM started an initiative called ground zero through which they provided awareness among people and interested people with the team were encouraged to install harvesting systems at their home.
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According to the World Health Organization, it is estimated that by 2025, half of the global population will be living in water-stressed areas. Since the water is treated as a non-renewable resource, water harvesting is the only most effective way to reduce the stress of the groundwater level. Rainwater harvesting would also act as a means to reduce the acute scarcity of water across the globe in the future. Since, by rainwater harvesting, the consumption of groundwater is also reduced, rainwater can be easily stored and used for all household purposes which is anticipated to drive the global rainwater harvesting market.
Rainwater harvesting is also considered useful in regions with uneven rainfall distribution. In these regions, rainwater harvesting acts as a sustainable alternative source for clean water. Another major advantage of rainwater harvesting is that it aids in implementing adaptation measures to reduce flooding in many regions. The low-lying lands are prone to frequent flooding during heavy rainfall and with the use of rainwater harvesting systems, the rainwater can be channeled to a collection tank that will prevent the flood. Therefore, all the advantages of using the harvesting system for water conservation are anticipated to expand the rainwater harvesting market size during the forecast period.
Global Rain Water Harvesting Market- Segmentation
By Type
- Land-Based Harvesting
- Roof-Based Harvesting
By End-User
- Residential Sector
- Non-Residential Sector
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