Stormwater Management Market Size, Share, Growth, and Global Industry Analysis, By Type (Screening Systems, Separation Systems, Filtration, Infiltration, Retention Systems, and Other Systems.), By Application (Commercial Buildings, Industrial Buildings, and Municipal Buildings), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Stormwater Management Market Report Overview

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The global stormwater management market size was USD 14630.38 million in 2021 and is projected to touch USD 27989.66 million by 2031, at a CAGR of 6.7% during the forecast period.

Snow, ice, and rain all contribute to the creation of stormwater. It may run off the surface or remain there, gradually evaporating or soaking into the ground (called infiltration). One of the main sources of pollution is flowing stormwater. An increase in stormwater flow can alter natural flow patterns and result in the erosion of streams and vegetation growth. When stormwater-accelerated dirty water runoff from roadways mixes with other major water bodies, such as lakes, and oceans, it can lead to water contamination in some developed areas.

Stormwater management includes maintaining stormwater systems and controlling the gathering, storing, and flowing. In addition to wastewater management, drainage is considered while designing cities and housing developments. It includes services for monitoring, replacing, and maintaining stormwater equipment. Local communities benefit from effective environmental, social, and economic management of stormwater. Therefore, both stormwater management components enhance the quality of the water obtained from precipitation and manage and minimize runoff. The method of stormwater management is a safer and more environmentally friendly strategy since it reduces harm to people and property. It also protects local bodies of water from being polluted by runoff. 

COVID-19 Impact: Rising Demand for Freshwater Boosted Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with stormwater management experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Washing your hands frequently with soap and water is one of the most important tips for controlling sickness. Instead of the regular average of five times per day, the Centre for Science and Environment (CSE) states that everyone in this condition must wash their hands at least ten times daily. Water use increased due to this. Fresh water is needed to meet the demand for and supply of water. Because stormwater management improves water quality by minimizing and directing rainwater runoff or melting snow from lawns or streets, it is projected that increased demand for freshwater is estimated to propel the stormwater management market growth.

LATEST TRENDS

"Rising Demand for Clean Water to Foster Market Growth"

Preserving a clean environment is crucial for everyone's health and economy. Clean waterways and well-kept storm drain provide our surroundings with chances for leisure, commerce, fish habitat, and scenic value. Unmaintained storm drains can cause retention or detention drains to get clogged with debris or silt. Water stops flowing through completely clogged drains, which causes a buildup that eventually causes flooding. Drainage flooding is the cause of flooding in the streets and basements. The majority of impermeable surfaces, such as parking lots, roads, sidewalks, and others, are to blame for this. The outbreak of the pandemic and the prevalence of various chronic diseases are projected to boost the stormwater management market growth. 

Stormwater Management Market Segmentation

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• By Type Analysis

By type, the market is segmented into screening systems, separation systems, filtration, infiltration, retention systems, and other systems.

• By Application Analysis

Based on application, the market is classified into commercial buildings, industrial buildings, and municipal buildings.

DRIVING FACTORS

"Governments' Emphasis On Improving Yield Farm to Offer Lucrative Growth Opportunities"

The government's emphasis on clean water surges the demand for stormwater management. The demand for clean water is increasing due to the rising population, which boosts the need for water and wastewater management. The government has imposed various strict norms against water pollution and water management. Special laws have been implemented for the protection of water from harmful wastewater discharge. These factors are anticipated to augment the market growth. 

"Stringent Regulations On Efficient Water Management to Surge Market Growth"

Recent years have seen a substantial increase in the amount of wastewater produced due to technical advancements in production processes. If improperly treated before being dumped into freshwater sources, effluents from businesses that produce chemicals, insecticides, rare metals, and other toxic substances and materials are hazardous to the environment and may have catastrophic impacts. As a result, organizations like the U.S. EPA and FAO have established regulatory limitations on the presence of such chemicals in effluents prior to environmental disposal. It addresses wastewater discharged from oil fields, oil drilling, production, and well treatment activities in coastal, on-land, and offshore areas. The rules involve severe fines and prison terms as penalties for violators.

RESTRAINING FACTORS

"High Cost and Use of Corrosive Chemicals to Hinder Market Growth"

The requirement for experts to hinder the market growth. Store-bought drain cleaners are used to clean the pipes, but they use many corrosive chemicals, evading the pipe's quality. Moreover, hiring professional plumbers requires a high cost, which may hamper stormwater management market growth. 

Stormwater Management Market Regional Insights

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"Asia Pacific to Dominate Accredited to the Growing Number of Storms and Floods"

Asia Pacific is expected to account for major growth accredited to the rising number of intense floods and storms. Government has various strict regulations for managing wastewater and rainwater, which are forecasted to propel regional growth in the foreseeable future. The efforts for clean water are increasing owing to the rising population, which will further propel the market growth.

North America is estimated to hold a significant part of the stormwater management market share due to the rise in the number of life and property losses. The number of property and life losses is increasing due to the rising incidents of storms in the region.

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• Xylem (U.S.)
• StormwateRx LLC (U.S.)
• AquaShield (U.S.)
• Contech Engineered Solutions (U.S.)
• Forterra (U.K.)
• Oldcastle Infrastructure (U.S.)
• Advanced Drainage Systems (U.S.)
• SPEL Stormwater (Australia)
• Resource Environmental Solutions (U.S.)
• Hydro International (U.K.)
• Veolia Water Technologies (France)
• StormTrap (U.S.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.