Dublin, June 01, 2022 (GLOBE NEWSWIRE) -- The "Water Leakage Detector Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Growth in the global water leakage detector systems market is set to be driven by the construction industry's swift expansion and increased investment in infrastructural development. Strict government regulations for green buildings to address environmental issues are encouraging building owners to reduce water wastage. Therefore, building owners are using water leakage detector devices like water leak detectors, water leak alarms, and water sensors are in turn propelling the water leakage detectors market. The industrial sector requires to constantly monitor the leaks and can't afford the slight defects among water leak detectors, in turn boosting the water leak detectors` market growth.
The rise in environmental concerns about water scarcity caused by global population growth is increasing the water leak detectors demand. Advanced water leak detectors` introduction is anticipated to be the prime market trend to gain traction in the market of water leak detectors in years to come. Advanced leak detectors are user-friendly and sophisticated and are possible to be deployed on all pipe materials including PVC or polyvinyl chloride pipes.
Amid the COVID-19 crisis, the global market for Water Leakage Detector Systems estimated at US$4.6 Billion in the year 2022, is projected to reach a revised size of US$5.9 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Active Leak Detector Systems, one of the segments analyzed in the report, is projected to grow at a 6% CAGR to reach US$4.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Passive Leak Detector Systems segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 30.9% share of the global Water Leakage Detector Systems market.
Passive leak detection systems are usually standalone battery-operated devices that can be easily installed below plumbing or water appliance to detect leaks but need frequent battery testing. On the contrary, active leak detection systems offer immense efficiency in detecting water and are usually hooked onto the main water supply line of a building to intervene in case of a leak. These systems do this by cutting the water supply, which in turn, prevents further water leakage and property damage.
The Water Leakage Detector Systems market in the U.S. is estimated at US$1.9 Billion in the year 2022. The country currently accounts for a 42.05% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$403.7 Million in the year 2026 trailing a CAGR of 8.8% through 2026. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 6.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR while Rest of European market will reach US$285.2 Million by 2026.
North America leads the water leak to detect systems` market and is anticipated to dominate the market over the analysis period. The North American region is observing robust economic growth, rapid urbanization, increased population, and enhanced living standards, in turn creating the requirement for high-end infrastructure. Therefore, the government is investing extensively to overcome the issue of water wastage by implementing water leak detectors. Increased population in the APAC region is the prime driver of the non-residential, as well as the residential construction sector in the APAC region, further demanding the enhanced pipeline network. Increased measures are being taken by the government to attract private investments for infrastructural development, speeding up the water leak detection systems deployment in the APAC region.
Select Competitors (Total 111 Featured) -
- 3M
- ABB
- Aqualeak Detection
- Atmos International
- Badger Meter
- Gutermann
- Hermann Sewerin
- LeakTronics
- Mueller Water Products
- NEC
- nVent
- Ovarro
- Pentair
- Perma-Pipe International Holdings
- Resideo Technologies
- Schneider Electric SE
- Seba Dynatronic Mess- und Ortungstechnik
- SPX
- TTK
- Xylem
- Yokogawa Electric
Key Topics Covered:
1. MARKET OVERVIEW
- Water: The Essence of Life
- World Water Resources: A Primer
- With IMF Making an Upward Revision of Global GDP for 2022, Companies Are Bullish About a Continuing Economic Comeback Despite a Prolonging Pandemic
- Pandemic Brings to Light the Demand-Supply Gap in Water Supply
- COVID-19 Impact on Water Leakage Detector Systems
- Global Market Prospects and Outlook
- Water Leak Detection Devices: Halcyon Days Ahead with Dynamic Drivers
- Active Water Leak Detection Systems Hold a Major Share
- Regional Market Analysis
- Competitive Market Presence - Strong/Active/Niche/Trivial for 42 Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Water Scarcity Globally Drives the Demand for Water Leakage Detection Systems
- Rising Water Pollution Levels Leading to Severe Shortage of Freshwater Drives the Demand for Water Leakage Detection Systems
- Technological Advancements Drive Market Growth
- Algorithms & Mathematical Modeling to Detect Leakage
- Hydrophones & Household Meters for Leak Detection
- Centralized Data Management
- AI Emerge as Game-Changing Technology for Water Leak Detection
- Smart Water Leak Detectors Witness Increased Demand
- Smart Devices for Enhanced Control in Smart Homes
- Rising Awareness about Smart Water Leak Detection Systems
- Commercial Water Leak Detection Service: A Brisk Business with Riveting Merits
- Building Trends, Plumber's Support & Discounts Drive Market Demand
- Industry Standards Ensure Improved Performance
- Non-Invasive Acoustic Technology becomes More Audible in Water Leak Detection Arena
- Advanced Pipeline Water Leak Detection Approaches Gaining Center-Stage Attention
- Satellite Images for Leak Detection
- Micro Leaks Detection Solutions
- Magnetic Field Sensors
- IoT-Powered Leak Detection
- Leak Detection with Valve Control
- Multiple-sensor Systems Witness Increased Demand
- Growing Popularity of IOT-based Water Leak Detection Systems
- Surging Population and Increasing Need for Water Drives Demand
- Rapid Urbanization Aggravates Water Woes & Powers Demand for Water Leakage Detection Systems
- Global Warming & Climate Change to Encourage Pervasive Adoption
- Smart Cities Concept to Underpin Sales Growth in the Coming Years
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/f2wg2t
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
