The North America rainwater harvesting market reached a value of US$ 334 Million in 2018. Rainwater harvesting refers to the collection and storage of rainwater for future use. Rainwater can be collected from rooftops, roads, open grounds and natural water bodies, such as rivers. A typical rainwater harvesting system contains a catchment, in which the rainwater is captured, and a conveyance system that transfers water from catchment to the storage tank. In the storage tank, the water is treated for removing pollutants, if any. This processed rainwater can be then used for irrigation, gardening, drinking, domestic purposes as well as conservation of wetlands. A set-up for harvesting rainwater can be built in individual homes, residential colonies or apartments, educational institutions, club houses, hospitals, farmhouses, farmlands, and industrial areas.
North America rainwater harvesting market is currently being driven by several factors. The easy installation and customization process of rainwater harvesting system has fueled its demand in the region. In line with this, the overall cost of installation and operation of these systems is much lesser than that of a water purifying or pumping system. This makes rainwater harvesting an economical way of preserving water. Moreover, with the growing population, there is a rise in the demand for water in the region. Further, rainwater harvesting is reducing the dependency on groundwater and helping in mitigating concerns regarding water scarcity and depleting ground water levels. Additionally, rainwater, when collected, can be used for numerous purposes, which include flushing toilets, washing, watering plants, composting, rinsing vegetables, and fire protection. Looking forward, IMARC Group expects the market to reach a value of US$ 422 Million by 2024, registering a CAGR of around 4% during 2019-2024.
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