Report : Water Pipeline Leak Detection System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Hardware and Software and Services), Equipment Type (Acoustic and Non-Acoustic), Pipe Type (Plastic Pipes, Ductile Iron Pipes, Stainless Steel Pipes, and Others), and End User (Non-Residential and Residential), and Geography
According to the new research report titled “Water Pipeline Leak Detection System Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 2,505.47 million by 2028 with a CAGR of 6.7% from 2021 to 2028.
The APAC region comprises countries such as China, India, Japan, Australia, South Korea, and the Rest of APAC. The large population of the region has led to high demand for residential and non-residential construction activities. APAC comprises several developing economies such as China and India, along with various Southeast Asian countries, which generate robust demand for infrastructure projects. The rising population of these countries is the main driver for the residential and non-residential construction industry in the region, which further demands better water pipeline network. Moreover, the governments are taking several measures for attracting private investments in infrastructure development, which is accelerating the deployment of water pipeline leak detection system in the region. The advantages of advanced water leakage detection system are likely to positively influence the growth of the water pipeline leak detection system market in APAC. Further, several factors such as huge population, economic growth, and rise in urbanization are contributing to the adoption of water pipeline leak detection systems in APAC. Due to rapid urbanization, the number of residential homes is also likely to increase, which, in turn, is boosting the demand for water pipeline leak detection systems in the region.
The Southeast Asia is the home for ~60% of the population across the world but only 36% of its water resources is available for the population. The situation of water scarcity across the Southeast Asia is anticipated to get worse due to increase in population, rapid urbanization, industrialization, groundwater overuse, environmental degradation, and climate change, unless urgent remedial action is taken. Therefore, the governments across the countries are taking several initiatives to manage the water scarcity issues. As per the Asian Development Bank (ABD), the region loses around 29 billion cubic meters of urban treated water every year. ABD also stated that in Bangladesh, ~50% of water in Dhaka is lost due to leaking pipes and substandard connections, resulting in supply interruptions during peak demand hours.
The governments along with private manufactures are focusing on tackling the issue of water scarcity by developing and implementing water pipeline leakage detection system. Water pipeline leakage detection system manufacturers in the region include Xylem Inc., Gutermann, and TTK. However, the lockdown of various factories in China, due to COVID-19, affected the global supply chains and negatively impacted development, delivery schedules, and various products and services. Even as the factories in China are beginning to reopen, several businesses have reduced or hit pause on their operations. The region comprises several developing countries, which consist of old infrastructure with the damaged water supply pipeline.
Key Findings of Study:
With the rising integration of advanced technologies, the adoption of advanced leak detection technologies is also increasing. The adoption of advanced leak detection technology, with the integration of narrowband-IoT (NB-IoT) acoustic loggers, detects the leakage point efficiently and precisely. The integration of NB-IoT acoustic loggers for plugging infrastructure, eco gaps, and cost across the water industry is boosting and supporting the growth of water pipeline detection systems across the globe. Further, the market players focus on integrating long range (LoRa) sensors for accurate water leakage detection in the pipeline network. The IoT leak management solution is accessible by integrating several LoRA sensors to cover the area of any size. Thus, the robust focus and investment toward the adoption of IoT and LoRa sensors in the leak detection system are one of the upcoming targets for the market players worldwide.
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