The low supply of water has led to practices such as rainwater harvesting and rainwater conservation. This has fuelled the demand for rain barrels to store and preserve rain water for later use. According to a new study by Future Market Insights (FMI), rain barrel market will reach US$ 1.97 Bn in 2021.
A rainwater barrel is highly useful for preserving water for domestic water uses like washing cars, cleaning laws and even to flush toilet water. Rain barrels not only help in decreasing water bills but also helps in situations like stormwater run-off and wastage of water.
Open head rain barrels are in common use at a global level due to their ease of handling. This segment is estimated to expand 2.4x times than tight head rain barrels by the end of 2030. Also the demand for rain barrels made from plastic is expected to remain considerable high. Ease of use and price competitiveness of plastic rain barrels will aid their sales through the course of the forecast period.
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Key Takeaways of Rain Barrels Market Study
- While unprecedented COVID-19 outbreak caused setback in 2020, rain barrel sales is projected to recover as the market exhibit 1.6% y-o-y growth in 2021
- Rising focus on rainwater conservation will enable the U.S. account for nearly 85% sales in North America
- Steady growth is forecast within the U.K. and 2021 will be year of recovery as the market exhibit 1.4% y-o-y growth
- Both Germany and France will emerge as lucrative markets for sales in Europe
- China will remain leading market for rain barrels in East Asia, followed by Japan and South Korea
“Erratic climatic conditions in certain parts of the world has caused the demand for rain barrels to rise at an accelerated pace. Rain barrels in-built with the latest technologies are gradually making their way into the market. Recyclability will however remain the foremost factor driving rain barrels adoption. Government initiatives, coupled with focus on water conservation practices, will drive rain barrel sales,” Says an FMI analyst
Smart Rain Barrels Emerge as Game Changers
Uses of a traditional rain barrel were limited to storing water for rainwater harvesting. Technological advancements and recent advents in the Internet of Things (IoT) have created new possibilities. These advancements have made real-time monitoring of rain barrels possible. Integration with smartphone applications is a key game changer, allowing users to monitor from their phone.
Weather forecasts and time-controlled filling are some of the latest features incorporated in smart rain barrels. Better management of water is possible through automatic release and creating buffer capacities in rain barrels. Rain barrels can now study weather forecasts, thanks to the integration of machine learning and artificial intelligence. These developments are expected to be key game changers.
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Environmental Impacts from Disposals of Rain Barrels might hamper the Growth
Rain barrels are made from materials like plastics, metals, wood, ceramic and clay that consume a lot of energy during production. Sure most of these materials are recyclable but they’re also harmful to the environment. Most plastic rain barrels could be re-used for years and but could be recycled only up to a certain number of times.
Disposing plastic is a critical task because it isn’t biodegradable and does not decompose. Metal rain barrels often fall prone to rusting and eventually turning into scrap. Environmental impacts of disposal of rain barrels could act as a setback for the expansion of the rain barrels market.
Who is Winning?
The global rain barrels market is highly fragmented. Domestic players hold a larger portion of market. Some of the key players operating in the global rain barrels market are ORBIS Corporation, Capi Europe B.V., GRAF GMBH, Koolatron Corporation, ROTO Group UK, WISY AG, The Barrel Makers, Etills Limited., Oaklands Group Ltd., Good Ideas Inc., Algreen Products, Inc., Bosmere Products Ltd. and Emsco Group.
Rain Barrels Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global rain barrels market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the rain barrels market on the basis of capacity (Below 25 gallons, 25-75 gallons, 75-125 gallons, 125-175 gallons, and above 175 gallons), material type (metal, plastic, wood, concrete, and clay), and head type (open head and tight head) across seven regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help