The Asia-Pacific Stormwater Management Market stood at USD 2502.25 million in 2022 and is expected to register a CAGR of 10.18% in the forecast period owing to the upsurge in the number and intensity of landslides due to heavy storm, snow and rainfall. These factors drive the adoption of stormwater management solutions for effective water management and sustainable infrastructure development. Additionally, stormwater management services are likely to be used more frequently across different industries in the region as a result of government standards and guidelines that, mostly in developed economies, include rules for stormwater management in building and urban planning.
In terms of type, infiltration is the most dominating segment, with a market share of 32.64% in 2022, and is expected to grow with a CAGR of 10.53% during the forecast period. Stormwater infiltration system allows the water to slowly discharge into the soil instead of detaining it for a time before it is released. This helps in avoiding flooding and erosion. It also provides quality advantages because it filters the runoff water through the native soil to effectively reduce pollutants in the runoff, such as oil, grease, heavy metals and more.
In terms of application, municipal is the leading segment, with a market share of 40.44% in 2022, and is expected to grow with a CAGR of 10.24% during the forecast period because existing stormwater management infrastructure of various countries are proving itself to be inadequate for the frequent occurrence of heavy rains. Therefore, various municipal authorities of the countries have recently been making efforts towards augmenting the stormwater management system.
China is the dominant country, with a market share of 24.09% in 2022 and is expected to register a CAGR of 8.25% during the forecast period because China is witnessing rapid urbanization, giving rise to various water related problem such as heavy waterlogging in the event of rain, in the urban areas. Moreover, several projects under the initiative are in progress in 30 districts selected by the government, which is likely to augment the stormwater management activities across the country.
Major companies in the competitor's landscape are Beijing Tidelion S&I Rainwater Harvesting Technology Co. Ltd, ACO Group, Toshiba Infrastructure Systems & Solutions Corporation, PriMove Infrastructure, Development Consultants Pvt Ltd., Hangzhou Moonbay Industrial Co., Ltd., Totetsu Mfg. Co., Ltd., GRAF China Environmental (Nanjing) Co., Ltd., RELN Pty Ltd., Everhard Industries Pty Ltd, Shenzhen Doctor Rain Rainwater Recycling Co., Ltd., Oriental Consultants Global Co., Ltd., ORCA Civil Products Pty. Ltd, SMEC Holdings Limited, Urban Asset Solutions Pty Ltd, among others.