A report on the rainwater harvesting market has revealed that that 55% of suppliers experienced growth in revenue and profitability in 2015.
Based on analysis of more than 80% of the industry, the report by MTW Research, also predicts that sales will rise above inflation in 2016.
The report states that there will be more than 60,000 rainwater harvesting systems in use within the next few years, with growth in some key end use sectors remaining reasonably robust, despite water prices set to decline by 5% to 2020.
The housebuilding market is slowly embracing rainwater harvesting according to MTW, with at least one housebuilder identified in the report committing to include rainwater harvesting systems in all its developments in the next 4 years.
MTW’s director Mark Waddy said: “Some housebuilders recognise they can add significant value through rainwater harvesting technology and this is providing a volume boost to the market. Given the forecast upturn in new build activity, the opportunities in this sector for growth are compelling.”
The report also illustrates the non-domestic rainwater harvesting market, and whilst identifying a decline in demand from public sector applications, points to a steady uptake in demand from the commercial and industrial end use sectors.
According to the MTW, certain key end users are now able attain cost savings within one year of installation and this, coupled with 100% capital allowances through the Water Technology List, is said to be rendering the commercial rainwater harvesting market increasingly attractive.