Newark, May 24, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2 billion in 2022 global drainage system market will reach USD 2.96 billion by 2032. The lack of proper drainage systems exacerbates the increasing incidence of flooding in urban cities. The instances of flooding and droughts have been increasing, given the rising threat of climate change. Proper and sophisticated drainage management systems can help prevent flooding and divert the water to underground storage systems that can offer water during dry spells of drought seasons. Flooding in urban cities is primarily caused by a lack of drainage systems and not necessarily by heavy rains. Municipalities must have smart drainage systems to prevent water clogging and avoid loss of life and property. Drainage systems for proper waste disposal are also required considering the growing menace of waste in landfills and waterbodies causing land, air and water pollution.
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Key Insight of the global drainage system market
North America is expected to rise the fastest during the forecast period.
The North American area will hold the most significant market share. The need for additional infrastructure for housing, commercial complexes, industrial units, and other projects will drive the market for regional drainage systems. The growing amount of money the government invests in infrastructure will help fuel market expansion. The rising need for smart homes, offices, and cities would also aid the regional market's growth. The market's expansion will be aided by large companies with access to cutting-edge technology that spurs innovation.
In 2022, the channel drains segment dominated the market with the largest market share of 44% and market revenue of 0.88 billion.
The product type segment is divided into channel drains, catch basins, drain emitters, dry well drainage systems, French drainage systems, backwater valves and others. In 2022, the channel drains segment dominated the market with the largest market share of 44% and market revenue of 0.88 billion.
In 2022, the municipal segment dominated the market with the largest market share of 46% and market revenue of 0.92 billion.
The application segment is divided into residential, commercial and municipal. In 2022, the municipal segment dominated the market with the largest market share of 46% and market revenue of 0.92 billion.
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Advancement in Market
July 2022 – Charlotte Pipe and Foundry Company acquired Neenah Enterprises, Incorporated. For 150 years, Neenah has been a pioneer in the construction castings sector. This acquisition in an adjacent industry improves on Charlotte Pipe and Foundry Company’s core strength in the production of grey iron castings. A privately held company with seven facilities in the United States, Charlotte Pipe and Foundry Company primarily produces cast iron soil pipe and fittings used for drain, waste, and vent uses, as well as commercial castings.
Market Dynamics
Driver: The rate of global urbanization is accelerating.
The fast urbanization of the world is being driven by the rising global population and increased disposable income. The main factors encouraging rural-urban movement and aiding urbanization include improved work prospects, educational and healthcare infrastructure, and economic, social, and political advancement. Urbanization is also fueled by the growing government investment in creating modern towns with top-notch public amenities like marketplaces, parks, markets, schools, and healthcare facilities. The growing private investment aids urbanization in creating cities and towns to meet the rising global consumption. The demand for drainage systems will rise as urbanization continues because they are the cornerstone of a well-planned urban cluster. They help with water removal, other effluents and excess water. They are also in charge of connecting the waterways. They are crucial to keeping the economy's public places tidy. Therefore, the world's rising urbanization will fuel the market's expansion.
Restraint: The sizeable investments.
The government provides most of the funding for the drainage systems used in urban clusters. To provide clean and hygienic areas for the inhabitants, they are the major investors in creating adequate drainage systems to keep the water flowing, prevent clogging, and provide proper solid waste disposal. However, the lack of implementation, never-ending red tape, and corruption within the system make it challenging to secure financing to develop and build these systems. Due to the public nature of the good and significant investment without clear economic paybacks, private players avoid the market. Furthermore, because of the high costs and lax accountability standards, industrial units frequently avoid the government requirements that require them to create drainage systems to sanitize the waste before dumping. As a result, the market's expansion will be hampered by large investments.
Opportunity: Demand for smart cities is rising.
The municipalities and other local organizations now need comprehensive urban planning due to the growing urban population. It is crucial to stop the unplanned rise of urban clusters To avoid future issues with congestion, water blockage, trash management, etc. Unplanned urban cluster expansion is unsustainable and significantly affects the environment and public services. The development of "smart cities," which are highly effective urban clusters outfitted with systems and technology that can manage cities efficiently and sustainably with the least amount of interference, is promoted. Smart and integrated drainage systems are becoming increasingly in demand as smart city development models are widely adopted. The market participants are addressing this need by boosting research and development spending to create more sophisticated, upscale, and effective drainage systems. As a result, innovation will drive the market over the projected period, creating attractive prospects for industry participants.
Challenge: the lack of maintenance.
The drainage systems are not sufficiently managed or maintained, given the public governance of the market. The lack of funding, personnel and politics will all render drainage systems useless, given no regular maintenance. Therefore, the lack of maintenance will challenge the market’s growth.
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Some of the major players operating in the global drainage system market are:
• Jay R. Smith Mfg. Co. inc.
• US Trench Drain
• Neodrain technologies
• Josam Company
• Hydrotec Technologies AG
• Atlantis Corporation
• Turner Company
• Neenah Enterprises Inc.
• MIFAB Inc.
• Capteurs GR
Key Segments cover in the market:
By Product Type
• Channel Drains
• Catch Basins
• Drain Emitters
• Dry Well Drainage Systems
• French Drainage Systems
• Backwater Valves
• Others
By Application
• Residential
• Commercial
• Municipal
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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