Wilmington, Delaware, United States, March 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Rapid increase in the implementation of sustainable urban drainage systems has augmented the Drainage System Market value in the last few years. Systemic improvements in urban water management have led to surge in demand for water disposable systems, which is likely to offer significant business opportunities to companies in the market.
The Drainage System Industry stood at US$ 1.6 Bn in 2022, and it is projected to reach US$ 2.3 Bn in 2031.
Several countries are witnessing a rise in infrastructure development and rapid expansion in the commercial and residential construction sectors. These factors have fueled demand for the drainage systems in municipal, commercial, and residential applications.
Increase in usage of drainage products that prevent backflow in municipal water systems is expected to offer revenues to companies in the global Drainage System Market. Significant investments in wastewater management systems are expected to bolster market development.
HDPE pipes and fittings are extensively used in drainage systems. Key advantages include portability and ease of installation. Moreover, HDPE pipes are versatile and can be utilized for a wide range of sewage and industrial disposable systems. Additionally, these pipes are also used to remove excess water from irrigation caused due to rainfall. Widespread usage of HDPE pipes for rainwater and waste drainage has augmented the Drainage System Market value.
Market Snapshot:
| Market Revenue | USD 1.6 Bn | |
| Estimated Value | USD 2.3 Bn | |
| Growth Rate - CAGR | 3.8% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 120 Pages | |
| Market Segmentation | By Product Type, Application, and Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Format | Electronic (PDF) + Excel | |
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Key Findings of Study
- Rapid Adoption of Sustainable Urban Drainage Systems: Rise in popularity of sustainable drainage systems in smart cities is expected to propel the market. Usage of smart wastewater management solutions in municipalities is expected to bolster the Drainage System Market growth. Surge in demand for environment-friendly residential drainage systems is likely to fuel the market.
Residential drainage system forms vital infrastructure to help to drain water from driveways driveways, and rooftops. Communities in urban areas have increased their efforts to manage rainfall water in a sustainable way. An example is usage of smart residential drainage system to manage rainfall runoff and bolster climate resilience through green infrastructure. - High Demand for Drainage System in Municipal Sector to Offer Significant Revenues: Surge in adoption of advanced drainage system in the municipal sector has boosted the market size in the last few years. Municipalities are adopting sanitary drainage systems that reduce the cost of maintenance and ensure good public health. Urban water supply and sanitation is a key framework to manage wastewater.
Key Drivers
- Rapid pace of urbanization in several countries is a key driver of the Drainage System Market. Rise in demand for sustainable drainage system in urban areas is a key market trend.
- Sizable investments planned for smart cities in several countries are anticipated to bolster the Drainage System Market value in the near future. Smart city projects across the world are promoting environment-friendly approaches to managing surface water
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Regional Growth Dynamics
- The market in Asia Pacific is anticipated to expand at a rapid pace from 2023 to 2031. Sheer pace of organized urbanization in developing countries and rapid expansion of infrastructure development are expected to propel the market in the region.
- North America accounted for a major share of the global Drainage System Market in 2022. The market in the region is anticipated to hold its leading share during the forecast period of 2023 – 2031. Surge in demand for sustainable water management systems is likely to fuel the market.
An example is focus of the U.S. EPA on cost-effective green/gray hybrid stormwater control solutions. Its Storm Water Management Model has attracted attention of several countries including Canada and the U.S. Adoption of smart stormwater management for cities in the U.S. is expected to bolster the market development in North America.
Competition Landscape
The TMR market study on the Drainage System Market found that the landscape is highly competitive, ascribed to the presence of several local and international players. Leading players are engaging in geographical expansion in order to expand their customer base. They are also expanding their product portfolio in order to gain market share during the forecast period.
Key players operating in the Drainage System Market are
- US Trench Drain,
- Hydrotec Technologies AG,
- Jay R. Smith Mfg. Co.,
- Josam,
- MIFAB,
- Neenah,
- Neodrain Technologies, and Turner Construction Company
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Drainage System Market Segmentation
Product Type
- Fixture Carriers
- Inceptors
- Hydrants
- Backwater Valves
- HDPE Drainage Fittings
- Catch Basins
- Others (Inlet Frames & Grates, Cleanouts)
Application
- Residential
- Surface
- Subsurface
- Slope
- Downspout/Gutter
- Commercial
- Parking Lot Drainage
- Landscape Drainage
- Roadway Drainage
- Others
- Municipal
- Storm Drainage Systems
- Sanitary Drainage Systems
Distribution Channel
- Online
- Company-owned Websites
- E-commerce Websites
- Offline
- Direct
- Indirect
Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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