MARKET OVERVIEW- ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET
Rainwater Harvesting is the process of collecting rainwater from the surface on which rain falls, filtering it and storing it for use. Rainwater harvesting can reduce storm water runoff from a property. The elimination of runoff can reduce contamination of surface water by pesticides, metals, and fertilizers. Rain harvested water can be harvested and used in the city and the rural towns where adequate water supply may be unavailable. Rainwater Harvesting is an innovative technique utilized to harvest rainwater from roofs and other above surfaces. There are two kinds of rainwater harvesting methods, such as rooftop-based rainwater harvesting and surface-based rainwater harvesting. The benefits of rainwater harvesting include financial as well as resource saving.
MARKET DRIVERS
The Asia Pacific Rainwater Harvesting System Market is attributed to the increasing awareness among consumers towards decreasing freshwater volume across the country. Rainwater harvesting is becoming a practical alternative for supplying households and businesses with water. There are several countries such as India and Australia where rainwater harvesting is a norm, with growing awareness regarding green building movement, rainwater harvesting systems are expected to drive the market demand. Furthermore, the growing consumption of water in the agriculture sector is also likely to propel the Rainwater Harvesting System Market expansion. Moreover, Rainwater Harvesting System has additional advantages such as lowering of water bills, reducing soil erosion and it helps in irrigation.
MARKET OPPORTUNITIES
Governments have started to implement Rainwater Harvesting policies to encourage water conservation. Some states in countries, including Australia and India, have mandated the installation of rainwater harvesting systems in new construction buildings. Furthermore, increasing awareness among consumers toward decreasing freshwater volume propels market growth. Moreover, expansion of business activities and urbanization are increasing the water supply across the region.
MARKET RESTRAINT
Rising wastewater treatment plants in the region is a major factor hindering the Rainwater Harvesting System Market growth. Owing to the growing environmental consciousness in the region, it is a factor in the wastewater treatment market with food industry growth. Furthermore, the high cost of installation that cannot be afforded by poor farmers and high maintenance costs are required for the smooth functioning of the Rainwater Harvesting System.
MARKET GROWTH CHALLENGES
The Covid-19 pandemic hampered the growth of market to major extent which has created a major challenge for the market growth. Also, lack of skilled work force is expected to be major hampering for the market growth over the forecast the period.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of Asia pacific Rainwater Harvesting System Market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With growing awareness regarding rainwater harvesting systems in various applications including, residential, commercial, agriculture and others is expected to witness the growth at a CAGR at specific CAGR from 2022-2028.
ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET SEGMENTAL OVERVIEW
The asia pacific Rainwater Harvesting System Market comprises of different market segment like harvesting method, product, installation, application and country.
ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET BY HARVESTING METHOD
By harvesting method, the Rainwater Harvesting System includes key segment of
Above ground rainwater harvesting methods are expected to dominate the market over the forecast period. Above ground system use water tanks on the ground surface to collect rainwater. These systems are often used when collecting rainwater from a roof as the water can be piped from gutters into the tanks. Above-ground harvesting leads the market as the tanks are generally cheaper and easier to install than underground systems. This has added an advantage to people who don’t have their own land they can live on and can move the tank.
ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET BY PRODUCT
By product, the Rainwater Harvesting System includes key segment of
- Rain Barrel System
- Dry System
- Wet System
- Green Roof System
The dry system is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period. Dry systems requiring low maintenance are a major factor boosting segment demand in the Rainwater Harvesting System market. In the dry rainwater harvesting system, the pipes from gutters run directly into the tank rather than travelling underground first. Dry systems get its name as pipes remain dry between rainfall events, fully draining into tanks each time it rains this is due to the power of gravity.
ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET BY INSTALLATION
By installation, the Rainwater Harvesting System includes key segment of
- Direct Pumped
- Indirect Pumped
- Indirect Gravity
Direct pumped rainwater harvesting systems are expected to dominate the market over the forecast period. The pump is located within the underground tank and harvested water is simply pumped directly to the WCs or other appliances. This system is the easiest to install and is the most common type of more professional rainwater harvesting system.
ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET BY APPLICATION
By application, the Rainwater Harvesting System includes key segment of
- Residential
- Commercial
- Industrial
- Agricultural
The residential sector is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period. Some countries like India and China have mandated installation of rainwater harvesting systems in new construction buildings. The growing residential construction and green building construction in the region to develop environmentally friendly and resource-efficient buildings further boost the ASIA PACIFIC rainwater harvesting system market. In 2020, the Asia-Pacific residential construction market had total revenues of $2,235.8 billion. Furthermore, due to the rising awareness regarding the great benefits and cost effectiveness of these systems for residential buildings, are expected to fuel the market.
ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET BY COUNTRY
The ASIA PACIFIC Rainwater Harvesting System market is studied for the following country
The Asia Pacific rainwater harvesting market accounted for approximately 40% revenue share in 2020. The growing population in countries such as India and China further boosts the market growth. Furthermore, the growing government support in creating awareness regarding the benefits of rainwater harvesting systems and promoting rainwater harvesting methods is expected to fuel the rainwater harvesting market in upcoming years. For instance, in Australia, a rebate of up to US$ 1,000 for the purchase and installation of home rainwater storage has been offered by the State of Queens. Furthermore, as these systems are easy to install, and they need minimal maintenance and are available in various sizes, the increase the adoption of rainwater harvesting systems across the globe. Moreover, the increasing need for water conservation owing to the growing water scarcity in Asian countries is driving industry growth.
COVID-19 IMPACT ANALYSIS ON ASIA PACIFIC RAINWATER HARVESTING SYSTEM MARKET
COVID-19 is an incomparable asia pacific public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. In addition, complete analysis of changes in the asia pacific Rainwater Harvesting System Market expenditure, economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on asia pacific economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Further, with the arrival of COVID-19, manufacturers in the rainwater harvesting market are increasing the production of system that filter out bacterial and chlorine. However, storage limits for Rainwater Harvesting System Market is a restraining factor in its adoption.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Rainwater Harvesting System Market is majorly focused on expanding the asia pacific growth of Rainwater Harvesting System with new product innovation, business expansion, and an increasing presence of a range of manufacturers operating in Rainwater Harvesting System has led to the growing demand for the market. Besides, the market offers a range of products for different end-users to fulfill the required demand of consumers, which is further contributing to healthy growth in the market.
The key players studied in market are
- Kingspan Group PLC
- Watts Water Technologies, Inc
- Graf Group
- WISY AG
- Innovative Water Solutions LLC
- Stormsaver Ltd
- Molloy Precast Products Ltd.
- Aquaco Water Recycling Limited
- D&D Ecotech Services
- KRG India
- N.S. & Associates
- Osmosis India
- Water Field Technologies Pvt. Ltd
- CST Industries
- Caldwell Tanks
- Wahaso
