Dublin, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The "U.S. Water Leak Detection and Repair Services Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. water leak detection and repair services market is expected to grow significantly, reaching a size of USD 519.0 million by 2030, with a projected Compound Annual Growth Rate (CAGR) of 5.2% from 2023 to 2030. Various trends, drivers, and impacts are shaping the dynamics of this market.
Market Drivers
- Financial and Environmental Implications: Water leaks can result in substantial financial losses through increased water bills and property damage. The need to mitigate these risks and minimize environmental impact is driving the demand for professional leak detection and repair services.
- Adoption of Smart Water Management Systems: The increasing adoption of smart water management systems is a significant driver. These systems leverage advanced technologies and data analytics to optimize water usage, detect leaks promptly, and enable remote monitoring and control of water infrastructure.
- Outsourcing Non-Core Functions: The growing trend of outsourcing non-core functions and services is boosting the demand for professional leak detection and repair services. Businesses and municipalities prefer specialized service providers to handle these tasks efficiently, allowing them to focus on their core operations.
Impact of COVID-19
- The pandemic has accelerated the implementation of remote monitoring and digital solutions in the water sector. Social distancing and remote work arrangements have led to a demand for technologies that enable real-time monitoring and management of water systems without physical presence.
Market Segments
- Acoustic Leak Detection: The acoustic leak detection segment dominated the market in 2022. This method enables early detection of leaks, facilitating prompt repairs and preventing further water loss and damage.
- Water Distribution Systems: The water distribution systems segment held a dominant position in 2022. Leak detection and repair services are vital for water utilities and service providers to minimize water loss, conserve resources, and enhance operational efficiency.
- Commercial Sector: The commercial segment led the market in 2022. The focus on sustainability and environmental responsibility is driving demand for water leak detection and repair services, particularly in commercial establishments.
Market Outlook
The U.S. water leak detection and repair services market is expected to experience robust growth due to financial and environmental concerns, adoption of smart technologies, and the outsourcing trend. The integration of smart water management systems and remote monitoring solutions is expected to continue driving the market. As businesses and municipalities prioritize water conservation, leak detection and repair services will play a crucial role in ensuring efficient water usage and reducing losses.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $347.4 million |
| Forecasted Market Value (USD) by 2030 | $519 million |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | United States |
Market Dynamics
- Drivers
- Technological Advancements in Water Leak Detection & Repair
- U.S. Governments Initiatives and Funding
- Challenges
- High Reliance on a Skilled Workforce
- Opportunities
- Increasing Emphasis on Sustainable Water Management
Companies Mentioned
- Five Star Leak Detection
- American Leak Detection
- ADU
- Ground Penetrating Radar Systems, LLC
- Calfo Home Services
- Underground Surveying
- EZ Plumbing
- Sleuth, Inc.
- Leak Master
- ABE's Complete Plumbing Service
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
Chapter 4. U.S. Water Leak Detection & Repair Services Market: Techniques Estimates & Trend Analysis
Chapter 5. U.S. Water Leak Detection & Repair Services Market: Application Estimates & Trend Analysis
Chapter 6. U.S. Water Leak Detection & Repair Services Market: End-user Estimates & Trend Analysis
Chapter 7. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/c5e3zg
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