Increased Emphasis on WASH Sector Creates Revenue Opportunities amid COVID-19 Crisis
During the ongoing COVID-19 crisis, the Water Supply, Sanitation and Hygiene (WASH) sector is gaining increased attention, owing to its importance in containing and mitigating the spread of the deadly virus. Companies in the rainwater harvesting market are capitalizing on this opportunity, since rainwater harvesting is gaining popularity as a valuable part of water management strategy. This strategy is contributing to household water security and encouraged by governments.
The pandemic has led to increased importance and recognition of the WASH sector in developing countries. There is a need for these countries to reach the Sustainable Development Goals (SDGs) for Water and Sanitation. Such findings are anticipated to create revenue opportunities for stakeholders in the rainwater harvesting market post the COVID-19 pandemic.
High Initial Cost, Regular Maintenance of Systems Affecting Adoption Rates
Surface runoff harvesting and rooftop rainwater harvesting techniques are growing prominent in residential, commercial, and industrial sectors. The rainwater harvesting market is slated to clock a favorable CAGR of 6.3% during the forecast period. However, challenges in the adoption of rainwater harvesting such as high initial cost, unpredictable rainfall, and regular maintenance are affecting market growth. Hence, stakeholders must create awareness about environmental benefits of rainwater harvesting to boost its adoption in different sectors.
Stakeholders are creating awareness that rainwater can be collected, converted, and purified into drinking water for use in daily applications and in large-scale industries. One of the biggest advantages of rainwater harvesting is it helps in reducing the consumption of groundwater.
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Cutting-edge Rainwater Purification Systems Reduce Water Costs in Houses
The rainwater harvesting market is expected to surpass 411.4 million cubic meter by 2031. Innovations in rainwater purification systems are contributing toward market growth. Rainwater Management Solutions - the U.S. and Canada based specialist in the rainwater harvesting business is boosting its sale for rainwater purification systems through its website.
Manufacturers in the rainwater harvesting market are increasing the availability of purification systems catering to home applications in an attempt to reduce water costs, supplement drinking water, and bathing water. They are boosting the production of home purification systems integrated with optional color user interface that provides screen displaying diagnostics, status, and warnings for a quick link back to the website of the system provider.
Companies Increase Production for Rainwater Tanks for Arable Farms, Livestock Farms
The rainwater harvesting market is expected to cross US$ 1.46 Bn by 2031. Enduramaxx - a specialist in the design and manufacture of quality polyethylene tanks for agricultural, industrial, and residential applications is bolstering the production of rainwater tanks for arable farms and livestock farms.
Companies in the rainwater harvesting market are manufacturing plastic water tanks for arable farms, including bulk water tanks for agriculture sprayers. On the other hand, these sprayers are used for dairy washdown, livestock watering, and pressure washing applications.