Government Initiatives Drive Surge in Rain Barrels Market, Forecasted to Surpass US$ 3,829.8 Million by 2033 | Future Market Insights, Inc.
Global Rain Barrels Market Set to Reach US$ 2,158.8 million in 2023, Fueled by Water Conservation and Sustainability Initiatives. Prominent players in the rain barrels market include Rainwater HOG, RTS Home Accents, Good Ideas, Algreen Products, Fiskars, EarthMinded, Emsco, Suncast, Great American Rain Barrel, Rain Reserve, and Ivy Rain Barrels.
NEWARK, Del, Dec. 03, 2023 (GLOBE NEWSWIRE) — According to Future Market Insights, the global rain barrels market size is anticipated to cross a valuation of US$ 2,158.8 million in 2023. It is expected to attain a valuation of US$ 3,829.8 million by 2033. The market is anticipated to thrive at a CAGR of 5.9% from 2023 to 2033.
Recently, people are actively searching for environmentally friendly ways to preserve water and lessen their ecological imprint as environmental awareness rises. Utilizing rain barrels can help you use less freshwater by effectively collecting and storing rainwater for a variety of uses, like watering lawns and plants. Rain barrels are a practical and affordable way to preserve water at a time when water shortage is becoming a huge problem worldwide.
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The growing consciousness of water scarcity boosts market growth as individuals and groups lessen their reliance on municipal water supplies. Similarly, ease the strain on nearby water resources by collecting and using rainwater. Rain barrels are useful for controlling stormwater runoff. By collecting rainfall, they avoid overflowing storm drains, which result in flooding and contaminate nearby water sources.
Large volumes of water are frequently needed by industries for a variety of activities, including cooling, cleaning, and irrigation. The industry may save a lot of money on water bills and lessen the burden on municipal water resources by reducing its dependency on freshwater sources by deploying rainwater collecting systems. Corporate social responsibility and sustainability are becoming more important in many businesses. By lowering water usage, lessening environmental effects, and showcasing a commitment to sustainable practices, rainwater collection is consistent with these goals. To encourage water conservation and long-term water management in industrial sectors, certain areas have enacted rules or standards. Industries comply with these legal requirements and avert penalties or fines by using rain barrels and other rainwater-gathering devices.
Rainwater harvesting may be used by businesses in drought-prone or water-scarce locations to ensure water supply during dry spells. When freshwater supplies are scarce, industrial operations can rely on a backup water source by collecting and storing rainwater. Rainwater collected in barrels is capable of being utilized in industrial facilities for non-potable uses including irrigation, equipment cleaning, or dust management. Industries can continue functioning while minimizing the demand for freshwater resources by using rainwater for these uses.
“Global warming and changing climatic condition is increasing the need for rain water preservation, which is accelerating the sales of rain barrels,” remarks the Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from Rain Barrels Market:
- The global rain barrels industry size developed at a modest CAGR of 5% from 2018 to 2022.
- In 2018, the global market size stood at US$ 1,674.4 million.
- The global market sales accounted for US$ 2,038.5 million in 2022.
- In 2022, the plastic segment captured 66.2% of market shares.
- In 2022, the 75 to 125 gallons segment captured 30.5% of market shares.
- In 2022, Europe held 24.1% shares in the global market.
- In 2022, The United States captured 17.5% shares in the global market.
- Germany captured 7.0% market shares in 2022.
- In 2022, the United Kingdom held 3.0% shares in the global market.
- In 2022, India captured 7.3% shares in the global market.
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Recent Developments
ORBIS Corporation introduced a new product in its water and recycling containers line. Backyard rain barrels can be used for household and commercial to save rainwater such as for lawns and gardens.
Key Players in the Global Market
- ORBIS Corporation
- Capi Europe B.V.
- GRAF GMBH
- Koolatron Corporation
- ROTO Group UK
- WISY AG
- The Barrel Makers
- Kingfisher Direct Ltd.
- Etills Limited
- Oaklands Group Ltd.
- Good Ideas Inc.
- Algreen Products Inc.
- Bosmere Products Inc.
- Emsco Group
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Rain Barrels Market Segmentation
By Capacity Type:
- 25 to 75 gallons
- 75 to 125 gallons
- 125 to 175 gallons
- Above 175 gallons
By Material Type:
- Metal
- Plastic
- Wood
- Concrete & Clay
Head Type:
- Open Head
- Tight Head
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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