North America Stormwater Management Market to Surpass $ 10 Billion by 2023
Growing government initiatives
and investments in stormwater management coupled with increase in number of
hurricanes and rising water contamination to drive North America stormwater
management market through 2023
According to TechSci Research report, “North America Stormwater Management Market By Tool, By Application, By Country,
Competition Forecast & Opportunities, 2013 – 2023’’, stormwater management market in North
America is forecast to reach $ 10.75 billion by 2023, owing to rising
precipitation, intense hurricanes and storms, and increasing regulations aimed
at the efficient wastewater and stormwater management. Moreover, government
standards and guidelines to include stormwater management in building
guidelines and urban planning are expected to boost the adoption of stormwater
management across the region. Growing technological advancements and increasing
investments to upgrade water management infrastructure are also anticipated to
positively influence the region’s stormwater management market during the
forecast period.
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Municipal, industrial and commercial
sectors are the major application areas of stormwater management in the region.
Of these, municipal sector held the largest market share in 2017 and is likely
to maintain its market dominance in the coming years as well, backed by huge
number of projects being undertaken in the segment related to stormwater. Strong
growth of the industrial sector, increasing contamination level in freshwater
sources and growing focus of governments on increasing the level of groundwater
and minimizing land losses due to heavy rainfall and flood are also anticipated
to aid the market growth.
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“United States leads the North America
stormwater management market, on the back of technological advancements, stringent
government regulations and availability of advanced technological tools for
stormwater management in the country. Increase in the number of hurricanes and
typhoons, and high rain and snowfall is expected to drive the implementation of
stormwater management in the country over the coming years, thereby resulting
in huge growth opportunities for stormwater management companies in the US.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“North America Stormwater Management Market By Tool, By
Application, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth
potential of stormwater management market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers to take sound
investment decisions. Besides, the report also identifies and analyses the
emerging trends along with essential drivers, challenges and opportunities in North
America stormwater management market.
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