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According to the latest report by IMARC Group, titled "Water Pipeline Leak Detection System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global water pipeline leak detection system market size reached US$ 2.1 Billion in 2021. A water pipeline leak detection system refers to an engineering system that is utilized for the detection of leak location in a pipeline. Several factors, such as age, improper installation and natural disasters, can result in pipeline leaks, especially at low points with maximum moisture collection and at construction joints. Pipeline leakage can be identified by using acoustic and non-acoustic devices. In addition to this, several sensors and data collectors are also employed in these systems for the inspection of the leaks and defects in a pipeline. Consequently, these systems find extensive applications in the residential, commercial and industrial sectors for minimizing the wastage of water and reducing associated costs.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Water Pipeline Leak Detection System Market Trends:
The global market is primarily driven by the rising need for effective water management solutions. In line with this, the significant expansion in the residential and commercial sectors, along with rapid urbanization and population explosion, has resulted in a dire need for water and its effective management to ensure a well-structured distribution network. This has consequently led to the increasing employment of water pipeline leak detection systems in establishments and related infrastructure, which is contributing to the market growth. Furthermore, governments of several nations across the globe are increasingly focusing on effective measures to reduce water wastage. This, in confluence with the rising expenditure of water treatment and transmission companies on maintenance, is acting as another major growth-inducing factor. The market is further driven by several technological advancements, such as the introduction of smart water meters and the extensive usage of Internet-of-Things (IoT)-based monitoring systems. Other factors, including the rising environmental concerns toward water scarcity and the increasing number of water treatment plants, especially in developing regions, are expected to create a positive outlook for the market further. On account of the aforementioned factors, the market is anticipated to exhibit a CAGR of 6.8% during 2022-2027.
Market Summary:
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