According to TechSci Research report, “Global Stormwater Management Market Research Report By Tool, By Application, By Region, Competition Forecast & Opportunities, 2013 – 2023’’, the global stormwater management market is forecast to reach $ 18.4 billion by 2023, 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.
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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, 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 stormwater 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 2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Stormwater Management Market By Tool, By Application, By Region, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of stormwater management market and provides statistics and information on market size, structure and future market growth. The report intends 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 in the global stormwater management market.