Rising number of natural disasters and aging water collection systems coupled with increasing shift towards adoption of advanced water management systems to drive global stormwater management market through 2026.
According to TechSci Research report, “Global Stormwater Management Market By Tool (Grassed Swales, Rain Gardens, Pervious Pavement, Green Roofs and Others), By Application (Municipal, Commercial and Industrial), By End User Industry (Infrastructure, Education, Healthcare, Retail, Others), By Region, Competition Forecast Opportunities, 2016-2026”, the global stormwater management market is forecast to grow at a CAGR of 8.40% to reach USD22039.02 million by 2026. Owing to rising number of floods and storms and increasing regulations aimed at efficiently managing wastewater and stormwater. Rising global population is boosting the consumption of water, and to cater the surging demand for fresh water, both private and public water managing companies are shifting their focus towards the management of surface run off. Moreover, growing urbanization and expanding industrial sector is increasing the level of contamination in freshwater sources. With growing focus of governments on increasing the level of groundwater and minimizing land losses due to heavy rainfall and flood, stormwater management market is expected to register strong growth over the coming years, globally.
Increase in the number and intensity of landslides due to heavy storm, snow and rainfall drives the adoption of stormwater management solutions for efficient water management and sustainable infrastructure development.
Moreover, technological advancements, growing investments towards water infrastructure and management systems, and shifting focus of governments towards the adoption of advanced water management systems as compared to traditional wastewater and water management systems is expected to fuel the global stormwater management market in the coming years.
Stormwater originates during ice melts and precipitation events. It can run off or be held on the surface eventually getting evaporated or soaked into the soil (called infiltration). Stormwater treatment means the removal of toxins and pollutants from the water. Running stormwater is a major source of pollution. The increased flow of stormwater can encourage weed incursion, stream erosion and also impacts natural flow regimes. In certain developed areas, the polluted water runoff from roads which is again accelerated by storm water, can be a cause of water pollution when this water joins the main water bodies like lakes and oceans, which will have adverse effects on the flora and fauna and also on the lives of human beings living near the water bodies. Studies show that main reason for water pollution is especially due to growing industrialization. Chemical companies release harmful chemicals in liquid as well as gaseous form. When these gases mix with stormwater, they get carried away and join the polluted running water which contaminates other water bodies. Another stormwater effect is urban flooding. In the US, it is found very often that homes are not purchased on account of house degradation due to urban floods. Hence stormwater management is essential, and its treatment is one of the main aspects that needs to be considered. This triggers the need for efficient stormwater treatment techniques.
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Stormwater management majorly finds application in municipal, industrial, and commercial sectors. Municipal sector accounts for the dominating share in the global stormwater management market, on the back of increasing number of government regulations to minimize the pollution and make efficient use of stormwater. Increasing investments and growing technological advancements to upgrade water management infrastructure have shifted the governments and private companies’ focus to stormwater management as compared to conventional methods of water and wastewater management. Additionally, government standards and guidelines to include stormwater management in building guidelines and urban planning, majorly in developed economies, is expected to boost the use of stormwater management services across various sectors, globally.
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On the basis of tools, the global stormwater management market is segmented into grassed swales, rain gardens, pervious pavement, green roofs and others. Grassed swales and rain gardens are the two major tools which are widely used in stormwater management, backed by their easy construction, maintenance, and high efficiency in collection of stormwaters along the roadsides, bridges and other areas. North America leads the global stormwater management market, owing to stringent government regulations and availability of advanced technological tools for stormwater management in the region. Moreover, increase in number of floods and storms, and high rain and snowfall is expected to drive the implementation of stormwater management in North America over the coming years. Furthermore, in developing countries, rising government initiatives and investments to build sustainable infrastructure and to improve groundwater level quality would drive the demand for stormwater management until 2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Stormwater Management Market By Tool (Grassed Swales, Rain Gardens, Pervious Pavement, Green Roofs and Others), By Application (Municipal, Commercial and Industrial), By End User Industry (Infrastructure, Education, Healthcare, Retail, Others), By Region, Competition Forecast Opportunities, 2016-2026” has evaluated the future growth potential of stormwater management in the global stormwater management market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global stormwater management market.
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