Stormwater Management Market to Cross USD22 Billion by 2026
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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7 Table, 151 Figures spread through 202 Pages and an in-depth TOC on" Global Stormwater Management
Market "
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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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