The rainwater harvesting system market is likely to witness exponential growth over the forecast time period due to growing water scarcity, growing use of rooftop rainwater, and high product demand across numerous application avenues like agricultural, commercial, industrial, residential, among others. Rainwater harvesting system, also termed as rainwater catchment system or rainwater collection system, refers to the technology that collects as well as stores rainwater for potential use.
This system systems range from simple rain barrels to more intricate structures with tanks, pumps, and purification systems. The rainwater harvesting system industry share is bifurcated into various segments in terms of material, form, application, and regional landscape.
Based on material, the market for rainwater harvesting system is divided into rooftop rainwater and surface runoff. Among these, surface runoff segment is expected to witness a respectable CAGR of more than 3.7% between 2021-2027. In 2020, the rooftop rainwater segment accounted for around 66% of the totals share and is likely to grow at the CAGR of 4.2% over the forecast time period.
This type of rainwater harvesting has numerous advantages which are likely to fuel the product demand. Rooftop rainwater harvesting provides good quality water, often soft and low in minerals. It decreases soil erosion mostly in urban locations and also enhances the quality of ground water via dilution when recharged to ground water.
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With respect to form, the rainwater harvesting system is categorized into indirect gravity, indirect pumped, direct pumped, green roof system, wet system, dry system, and rain barrel system. Rain barrel system segment accounted for a share of around 15% in 2020 and is expected to grow gradually during the forecast period.
Dry System segment is projected to grow at the CAGR of 4.2% from 2021-2027. Wet system segment accounted for around 36% of the overall market share in 2020. Green roof system segment is projected to grow at a CAGR of about 4% through the coming years.
In terms of application, the overall rainwater harvesting system market is segmented into agricultural, industrial, commercial, and residential. Here, the industry share from the residential segment is likely to expand at a CAGR of more than 4.2% over the assessment time period. Commercial application segment is anticipated to grow at a CAGR of around 4.1% between 2021-2027 as well.
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Meanwhile, in 2020, the industrial application segment held around 14% of the total market size and is expected to grow significantly. Agricultural segment is projected to grow at a CAGR of more than 3.9% over the assessment time period.
From a regional frame of reference, rainwater harvesting system market in North America is projected to grow at a CAGR of more than 3.7% through 2027. In 2020, the Europe rainwater harvesting system market held 29% of the total share and will witness robust growth over the same timeframe.
Meanwhile, rainwater harvesting system market in Asia Pacific is anticipated to grow at the highest CAGR of around 4.4% over the forecast years. The Latin America rainwater harvesting system market held a market share of over 9% in 2020 and is projected grow at a CAGR of 3.2% up to 2027. The rainwater harvesting system market in Middle East & Africa will showcase decent growth over the coming years owing to growing water scarcity in the region.