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Stormwater
Stormwater infrastructure assets, designed to handle historical levels of precipitation, are increasingly insufficient to withstand the frequency and severity of today’s storms. In the U.S. alone, stormwater and flooding events have been responsible for US$156.8 billion in damages since 2000, according to the National Oceanic Atmospheric Association, driving the deployment of more hardware, innovative solutions, and capital toward U.S. stormwater infrastructure. According to an article in Nature Climate Change, flood damage in Europe is expected to reach €44 billion per year in the long term (2020-2050).
Stormwater management represents a growing area of investment and concern for utilities, transportation departments, and private property owners. Capital expenditures (CAPEX) for stormwater management in the U.S. are projected to grow from US$34.6 billion to US$54.5 billion between 2023 and 2030.