DUBLIN, June 3, 2022 — 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) –
3MABB Aqualeak Detection Atmos InternationalBadger Meter GutermannHermann Sewerin LeakTronicsMueller Water ProductsNECnVentOvarroPentair Perma-Pipe International HoldingsResideo TechnologiesSchneider Electric SESeba Dynatronic Mess- und OrtungstechnikSPXTTK Xylem Yokogawa Electric
Key Topics Covered:
- MARKET OVERVIEW
Water: The Essence of LifeWorld Water Resources: A PrimerWith IMF Making an Upward Revision of Global GDP for 2022, Companies Are Bullish About a Continuing Economic Comeback Despite a Prolonging PandemicPandemic Brings to Light the Demand-Supply Gap in Water SupplyCOVID-19 Impact on Water Leakage Detector SystemsGlobal Market Prospects and OutlookWater Leak Detection Devices: Halcyon Days Ahead with Dynamic DriversActive Water Leak Detection Systems Hold a Major ShareRegional Market AnalysisCompetitive Market Presence – Strong/Active/Niche/Trivial for 42 Players Worldwide in 2022 (E)
- FOCUS ON SELECT PLAYERS
- MARKET TRENDS & DRIVERS
Increasing Water Scarcity Globally Drives the Demand for Water Leakage Detection SystemsRising Water Pollution Levels Leading to Severe Shortage of Freshwater Drives the Demand for Water Leakage Detection SystemsTechnological Advancements Drive Market GrowthAlgorithms & Mathematical Modeling to Detect LeakageHydrophones & Household Meters for Leak DetectionCentralized Data ManagementAI Emerge as Game-Changing Technology for Water Leak DetectionSmart Water Leak Detectors Witness Increased DemandSmart Devices for Enhanced Control in Smart HomesRising Awareness about Smart Water Leak Detection SystemsCommercial Water Leak Detection Service: A Brisk Business with Riveting MeritsBuilding Trends, Plumber’s Support & Discounts Drive Market DemandIndustry Standards Ensure Improved PerformanceNon-Invasive Acoustic Technology becomes More Audible in Water Leak Detection ArenaAdvanced Pipeline Water Leak Detection Approaches Gaining Center-Stage AttentionSatellite Images for Leak DetectionMicro Leaks Detection SolutionsMagnetic Field SensorsIoT-Powered Leak DetectionLeak Detection with Valve ControlMultiple-sensor Systems Witness Increased DemandGrowing Popularity of IOT-based Water Leak Detection SystemsSurging Population and Increasing Need for Water Drives DemandRapid Urbanization Aggravates Water Woes & Powers Demand for Water Leakage Detection SystemsGlobal Warming & Climate Change to Encourage Pervasive AdoptionSmart Cities Concept to Underpin Sales Growth in the Coming Years
- GLOBAL MARKET PERSPECTIVE