NOIDA, India, Dec. 20, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the US Stormwater Management Market was valued at 5.6 billion in 2020 and is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Tools (Rain Grades, Green Roofs, Grassed Swales, and Others); Components (Stormwater Management Tools and Maintenance Services); Applications (Industrial, Commercial, and Municipal); Region/Country.
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The US stormwater management market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the US stormwater management market. The US stormwater management market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the US stormwater management market at the regional levels.
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Market Overview
According to the United States Environmental Protection Agency, stormwater management is defined as the effort to minimize the runoff of melted snow or rainwater into the lawns, streets, and other sites and the improvement of water quality. In recent years, stormwater management has witnessed significant demand in the United States due to the increasing awareness for the lake and aquatic life, maintenance of health streams, reduction in stream erosion along with prevention of the increased risk of flood and protect water quality. Additionally, the increasing investment and growing technological advancement are shifting the government's focus toward the adoption of advanced stormwater management systems and are expected to support market growth.
Factors such as technological advancement coupled with the growing number of industries and manufacturing units along with the new product launches in the market are some of the prominent factors that are positively influencing the market growth in US.
Some of the major players operating in the market include Contech Engineered Solutions LLC, Hydro International UK Ltd., Advanced Drainage Systems, Inc., StormTrap LLC, Rinker Materials, Resource Environmental Solutions LLC, Forterra, Inc., AquaShield Inc., Suntree Technologies Inc., and Thompson Pipe Group, Inc.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing industry along with supply chain disruption, regulatory and policy changes, labor reliance, working capital management, and liquidity & solvency management. The US stormwater management market has been significantly affected during these times owing to the gap between supply and demand.
The US stormwater management market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on tools, the market is segmented into rain grades, green roofs, grassed swales, and others. The grassed swales segment is expected to witness significant growth during the forecast period owing to better control rate of stormwater and acts as a filter medium removing pollution & offer stormwater infiltration. Also, the grassed swales offer lower implementation and operational costs to remove sediments, pollution, and nutrients. It increases infiltration and adds visual aesthetic elements to a stormwater management site. However, the limitation to the operation of grassed swales in urban areas due to the requirement of a larger surface area for better operation will negatively impact the market.
- Based on component, the market is categorized into stormwater management tools and maintenance services. The stormwater maintenance service segment is expected to witness a significant market share in the market during the forecast period owing to the need for water collection and quality assurance. Also, the government initiative and policies are expected to support the stormwater maintenance service in the region. For instance, the stormwater pollution prevention plan, which includes inspection, maintenance & operation plans for the site.
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The US Stormwater Management Market Geographical Segmentation Includes:
- California
- Texas
- Florida
- New York
- Pennsylvania
- Mississippi
- Others
Mississippi is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the growing government support for stormwater runoff along with the presence of major players and infrastructural support. Moreover, government initiative such as SWGP (Stormwater Grant Program) which focus on financial aid for eligible projects, and CGP (Construction General Permit) which requires the development of an SWPPP (Stormwater Pollution Prevention Plan) by a certified qualified SWPPP (QSWPPP) is expected to support the market growth in the region.
The major players targeting the market include
- Hydro International UK Ltd.
- Advanced Drainage Systems, Inc.
- StormTrap LLC
- Rinker Materials
- Resource Environmental Solutions LLC
- Contech Engineered Solutions
- Forterra, Inc.
- AquaShield Inc.
- Suntree Technologies Inc.
- Thompson Pipe Group Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as regional market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the US stormwater management market. The major players have been analyzed by using research methodologies for getting insight views on regional competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the US stormwater management market?
- Which factors are influencing the US stormwater management market over the forecast period?
- What are the challenges, threats, and risks in the US stormwater management market?
- Which factors are propelling and restraining the US stormwater management market?
- What are the demanding states of the US stormwater management market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
About UnivDatos Market Insights (UMI)
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The US Stormwater Management Market Report Coverage
Report Attribute | Details |
Base year | 2021 |
Forecast period | 2022-2028 |
Growth momentum | Accelerate at a CAGR of over 7% |
Market size 2020 | USD 5.6 billion |
Regional analysis | The United States |
Major contributing region | Mississippi to Dominate the US Stormwater Management Market |
Key countries covered | California, Texas, Florida, New York, Pennsylvania, Mississippi, and Others |
Companies profiled | Contech Engineered Solutions LLC, Hydro International UK Ltd., Advanced Drainage Systems, Inc., StormTrap LLC, Rinker Materials, Resource Environmental Solutions LLC, Forterra, Inc., AquaShield Inc., Suntree Technologies Inc., and Thompson Pipe Group, Inc. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Tools; By Components; By Application; By Region/Country |
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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Email: Ankita.gupta@univdatos.com
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