Product standards are a major driver for the adoption of
water efficient building technologies
BOULDER, Colo., July 16, 2024 /PRNewswire/ -- A new report
from Guidehouse Insights examines the global market for water
efficient building technologies in commercial and industrial
(C&I) buildings.
Water conservation is growing in importance as climate change
intensifies water scarcity and expanded access to water in
developing regions increases demand. According to a new report from
Guidehouse Insights, global revenue from water efficient
technologies in C&I buildings is expected to grow from an
estimated $8.9 billion in 2024 to
$15.6 billion in 2033 at a compound
annual growth rate (CAGR) of 6.5%.
"Water efficient fixtures, appliances, and other technologies
for C&I buildings reduce the amount of water used for specific
tasks or reduce water waste to ease demands on municipal water
utilities and wastewater treatment facilities," says Wendy Davis, principal research analyst with
Guidehouse Insights. "These technologies can also reduce charges
for water supply and wastewater treatment for building owners,
increase a building's resilience to water scarcity, contribute to
an organization's sustainability goals, and in some cases, mitigate
the risk of water damage to a building."
Product standards, including regulations, product labels, and
product certification programs, are increasing the adoption of
water efficient building technologies, as are government and
private sector sustainability goals and voluntary building
certification programs. However, market growth is limited by
factors such as the underpricing of water, the importance of water
to human health and sanitation, unintended consequences of
increased water efficiency, negative impressions of product
performance, and long product replacement cycles, according to the
report.
The report, Water Efficiency, analyzes the global market
for five water efficient C&I building technologies: faucets and
taps, toilets and urinals, showerheads, leak detection systems, and
irrigation controllers. The study analyzes market drivers and
barriers, and issues recommendations to industry stakeholders for
growing this market. Revenue analyses through 2033 are segmented by
technology, global region (North
America, Europe,
Asia Pacific, Latin America, Middle East & Africa), and C&I building type (office,
retail, education, healthcare, hotels and restaurants,
institutional/assembly, warehouse, transport, industrial). An
executive summary of the report is available for free download on
the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the
dedicated market intelligence arm of Guidehouse, provides research,
data, and benchmarking services for today's rapidly changing and
highly regulated industries. Our insights are built on in-depth
analysis of global clean technology markets. The team's research
methodology combines supply-side industry analysis, end-user
primary research, and demand assessment, paired with a deep
examination of technology trends, to provide a comprehensive view
of emerging resilient infrastructure systems. Additional
information about Guidehouse Insights can be found at
www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global
provider of consulting services to the public sector and commercial
markets, with broad capabilities in management, technology, and
risk consulting. By combining our public and private sector
expertise, we help clients address their most complex challenges
and navigate significant regulatory pressures focusing on
transformational change, business resiliency, and technology-driven
innovation. Across a range of advisory, consulting, outsourcing,
and digital services, we create scalable, innovative solutions that
help our clients outwit complexity and position them for future
growth and success. The company has more than 16,000 professionals
in over 55 locations globally. Guidehouse is led by seasoned
professionals with proven and diverse expertise in traditional and
emerging technologies, markets, and agenda-setting issues driving
national and global economies. For more information, please visit
www.guidehouse.com.
* The information contained in this press release concerning
the report, Water Efficiency, is a summary
and reflects the current expectations of Guidehouse Insights based
on market data and trend analysis. Market predictions and
expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the
report. Please refer to the full report for a complete
understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report.
Neither Guidehouse Insights nor Guidehouse undertakes any
obligation to update any of the information contained in this press
release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse
Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights