Stormwater Management: Introduction
Stormwater originates from rain, ice, and melting snow. It can run off or be held on the surface, eventually getting evaporated or soaked into the soil (called infiltration). Running stormwater is a key source of pollution. Increase in flow of stormwater can cause weed incursion, stream erosion, and also impact natural flow regimes. In certain developed areas, the polluted water runoff from roads, which is accelerated by stormwater, can be a cause of water pollution when this water joins the main water bodies such as lakes and oceans. This is expected to adversely affect the flora and fauna and also human beings living near the water bodies. Hence, stormwater management is essential to minimize the adverse impact of stormwater.
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Key Drivers and Restraints of Stormwater Management Market
- The stormwater management market is primarily driven by increase in need to improve water quality. Stormwater management plays an important role in ensuring water quality by reducing and channeling rainwater runoff or melted snow from lawns, urban areas, homes, and streets. Furthermore, stringent government regulations to improve water quality have been introduced. This is also estimated to drive the stormwater management market during the forecast period.
- Rise in efforts to improve the yield of farm is anticipated to propel the demand for stormwater management during the forecast period. In agricultural lands, stormwater transports manure from plants in addition to topsoil, thus lowering the productivity of farms. Thus, in order to improve the yield of farm, proper management of stormwater runoff is required.
COVID-19 Impact Analysis
- In March 2020, the WHO declared coronavirus as a pandemic. To date, the pandemic has resulted in 3.5 million people falling sick and 247,744 deaths across the globe. One of the key recommendations to contain the disease is to wash hands frequently with soap and water. According to the Centre for Science and Environment (CSE), every person needs to clean his/ her hands at least 10 times a day, instead of the usual average of five times a day, in this situation. This has led to an increased in water consumption. Fresh water is required to cater to the demand and supply of water. Thus, rise in demand for fresh water is anticipated to propel the demand for stormwater management, as stormwater management helps improve the quality of water by reducing and channeling rainwater runoff or melted snow from lawns or streets.
Green Roofs Solution Segment Expected to Hold Prominent Share of Global Market
- The global stormwater management market can be segmented based on solution, application, and region
- In terms of solution, the stormwater management market can be divided into green roofs, rain barrels, vegetated filter strips, and others. The green roofs segment is anticipated to expand significantly during the forecast period, as these roofs help reduce atmospheric pollution, energy costs, and heat island by creating an attractive environment.
- Based on application, the stormwater management market can be segregated into municipal, commercial, and industrial
Asia Pacific Expected to Constitute Major Share of Global Stormwater Management Market
- In terms of region, the global stormwater management market can be classified into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- Asia Pacific is expected to hold major share of the stormwater management market during the forecast period. Growth of the market in Asia Pacific can be ascribed to the increase in number of intense storms and floods, and strict government regulations pertaining to wastewater management across the region. Furthermore, rise in efforts to meet the significantly increasing demand for clean water due to growing population is also a major factor propelling the demand for stormwater management.
- North America is another major region of the global stormwater management market. Increase in life and property losses due to the rise in storm occurrences in North America is anticipated to propel the stormwater management market in the region.
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Key Players Operating in Global Market
Key companies operating in the global stormwater management market are
- iSTORMWATER LLC
- Tetra tech
- Contech Engineered Solutions LLC
- AcquaMaster
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