United States Stormwater Management Market Competition Forecast & Opportunities, 2028 - Government Budget Prioritizes Climate Protection and Flood Hazard Mapping
DUBLIN, Nov. 20, 2023 /PRNewswire/ -- The "United States Stormwater Management Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
DUBLIN, Nov. 20, 2023 /PRNewswire/ -- The "United States Stormwater Management Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The United States Stormwater Management market is anticipated to register an impressive growth rate to 2028
This increase in disasters, such as hurricanes, storms, and floods, is driving the demand for effective stormwater management, which is expected to boost the growth of the stormwater management market in the United States.
Climate change is leading to more frequent and intense extreme rainfall events in various cities across the United States, which is increasing the risk of localized stormwater flooding. Traditionally, the focus in stormwater management was on water quality to prevent pollutants from being washed into bodies of water. However, cities now have to address the management of rainwater due to the growing problem of excessive water flooding roads and buildings and overwhelming stormwater systems.
Global warming and its associated impacts, including rising sea levels and extreme weather, are expected to lead to an expansion of floodplains in the United States by the end of the century. The cumulative effects of extreme weather events, rising sea levels, and other climate change-related impacts are contributing to a significant increase in natural disasters in the country.
The effects of the climate crisis are being felt by Americans on an annual basis, with extreme weather events and climate change impacting all regions and economic sectors. Over 40% of Americans live in counties that were affected by climate disasters in 2021, and more than 80% have experienced heatwaves.
The government's budget for 2023 includes over $18 billion for mitigation and adaptation programs across various federal agencies. These critical investments are aimed at reducing the risk of damage from floods, storms, and coastal erosion, while also restoring aquatic ecosystems and protecting vulnerable communities from the impacts of climate change. These investments are expected to be a driving force behind the growth of the United States Stormwater Management Market.
In 2021, the U.S. Environmental Protection Agency (EPA) announced the availability of $67 million in grants under a new program focused on sewer overflow and stormwater recycling at the municipal level. These funds are intended to support public health and environmental protection by assisting states and cities in improving their stormwater management to address sewer overflows and reduce pollution entering local waterways, thus further contributing to market growth.
Latest Developments in the United States Stormwater Management Market
The US government budget for 2023 allocated USD3.5 billion for the Department of Homeland Security (DHS) climate protection program. That includes USD507 million, an increase of USD 93 million from 2021. This is to incorporate climate science and future risks into the Federal Emergency Management Agency's (FEMA) flood hazard mapping program.
Changing weather pattern and not upgrading the infrastructure
Changing weather patterns has presented the US government with various challenges as the capacity of the existing infrastructure is not sufficient and not maintained to fight against the rough weather. Moreover, increase in urbanization has also reduced the capacity of the stormwater drain with the population has increased and so is the water requirement but not the infrastructure associated with it.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United States Stormwater Management market.
- Contech Engineered Solutions LLC
- Forterra Inc.
- Advanced Drainage Systems, Inc.
- AquaShield, Inc.
- Hydro International UK Ltd.
- Oldcastle Infrastructure, Inc.
- StormTrap LLC
- Thompson Pipe Group
- Rinker Materials, Inc.
- Resource Environmental Solutions, LLC
United States Stormwater Management Market Outlook
- Market Size & Forecast By Value
- Market Share & Forecast Tools Type, Segment, Application, Region & Company
- Market Map
Report Scope
United States Stormwater Management Market, by Tools Type:
- Grassed Swales
- Rain Gardens
- Pervious Pavement
- Green Roofs
- Others
United States Stormwater Management Market, by End User:
- Stormwater Management Tools
- Maintenance Service
United States Stormwater Management Market, by End User:
- Municipal
- Commercial
- Industrial
For more information about this report visit https://www.researchandmarkets.com/r/dznf0b
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