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.
- Based on the technology, the market has been divided into the ultrasonic, smart ball, magnetic flux, fiber optic and others.
- On the basis of the equipment, the market has been bifurcated into acoustic and non-acoustic.
- Based on the pipe type, the market has been categorized into plastic, ductile iron, stainless steel, aluminum and other pipes.
- Based on the end use, the market has been segmented into the industrial, residential, commercial and municipal sectors.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Poland and others), Asia Pacific (China, Japan, India, South Korea, Australia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa (Turkey, Saudi Arabia, Israel, the United Arab Emirates and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include NEC Corporation, Xylem, Inc., SPX Corporation, Mueller Water Products, Gutermann AG, 3M Company, ABB Group, Badger Meter, Inc, and PERMA-PIPE International Holdings, Inc.
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