March 29, 2018
WELLESLEY, Mass., March 29, 2018 – With applications ranging from landscape use, livestock watering, in-home use, and the prevention of soil erosion, the outlook for rainwater harvesting technologies is bright, according to a report by BCC Research.
The global market for water capture and use specialty absorption applications was valued at $1.1 billion in 2016 and forecast to grow by a compound annual growth rate (CAGR) of 5.3% through 2022, when it will be worth an estimated $1.5 billion, according to the report Rainwater Harvesting Technologies: Global Markets to 2022.
Major players in the market include 21st Century Enviro Engineers, Adept Water Technologies, Barr Plastics, Caldwell Tanks, Davey Water Products, Ecozi, Farmland Rainwater Harvesting Systems, Global Environmental Management Services, Harvest H2O, Interpump, Jenhill Construction Materials, Kershaw Group, Lakota Water, M2 Water Solutions, Natural Systems International, Oasis Water Harvesting, Pacific Aquascape, Raincatcher Products & Services, Sage Water Solutions, Tigerflow Systems and UV Pure Technologies.
“Inefficient water management and improper re-use of water are two major reasons for water scarcity in many parts of the world,” said BCC Research analyst and report author Srinivasa Rajaram. “Rainwater harvesting is an easy and affordable solution to overcome such water stress and it acts as an important alternative as a decentralized water source. This type of alternative water source also helps in reducing the use of fresh water from surface and groundwater sources.”
In the United States, Governments Pitch In With Incentives
A number of states in the U.S. offer incentives designed to encourage rainwater harvesting. In arid Arizona, a one-time 25% tax credit is available to offset the cost of a water conservation system. In drought-affected California, there are tax breaks for backyard rainwater capture systems and a proposal to exclude rainwater capture systems from property tax assessments. In Santa Fe, N.M., rainwater catchment is a requirement for new dwellings. Other incentives are offered in Texas, Ohio, Oklahoma, and the Virgin Islands.
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Rainwater Harvesting Technologies: Global Markets to 2022( ENV038A )
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