Global Drinking Water Pipe Repair Market skyrockets
The compound annualized growth rate (CAGR) of the global drinking water pipe repair market is expected to expand at a rate of 7% between 2018 and 2026, according to the Transparency Market Research (TMR). In TMR's 'Drinking Water Pipe Repair Market –Size, Global Industry Analysis, Share, Growth, Forecast and trends' report published for this period, the market, as of 2018, is valued at over US US$56 billion.
There are a number of factors that would lead to this incline, which is heavily dependent on global construction activities. One major factor contributing to the large number of drinking water pipelines currently in existence around the world, is the growing population. In an effort to eliminate the all the water pipe leakages and all the water pipe bursts that happen every hour worldwide, repairs and maintenance of these drinking water pipelines have been accounted for with regard to the forecasted period, in addition to new construction activities.
Impact from Delayed Projects and Economic Recession A decline for drinking water pipe repair can be a result from unforeseen political instability causing economic recessions and insufficient funding across the global. This is likely to impact on the industry causing multiple projects to be delayed, hindering infrastructure activities. Even though the rise in population growth would cause likely cause industries to adopt drinking water pipe repairs as a solution to gain public acceptance, in underdeveloped countries, where these costs are significantly high, the inadequate capital of small-scale industries would be a restraining factor.
Expansion of Spot Assessment and Repair segment
The CAGR forecast of the spot assessment and repair segment is likely to increase by more than 6% during this forecasted period due to the demand for drinking water pipe repair stemming from the development of remote assessment and monitoring in North America and Asia Pacific. It currently holds a major share of the global drinking water pipe repair market because of its repair technology which can efficiently anticipate, mitigate and manage risks. The spot assessment and repair segment is forecasted to be followed closely by the remote assessment and monitoring repair technology segment.
Future of Drinking Water Pipe Repair
Globally, the Internet of Things (IoT) technology is implemented and used extensively. As a result, pipeline networks are now connected through network connections and software-controlled sensors which helps in acquiring real-time data on both existing and proposed pipeline infrastructures. This innovative technology significantly lowers the cost of pipe repairs as burst pipelines and leakages can now be detected via radio remote control from far distances. The quality of drinking water pipelines has been improved with this technology which also helps to improve water quality and reducing the wastage of drinking water drastically.
Drinking Water Pipe Repair Market in Asia Pacific
Both North America and Asia Pacific are projected to be leaders in the global drinking water pipe repair market due to the increased demand in these regions for safe and clean drinking water. As China becomes the strategic center for the development of drinking water pipe repair, the Asia Pacific region is expected to be the more prominent region in this market for the forecasted period and the very near foreseeable future. There would also be a significant increase in the collaborations of both technology developers and manufacturers, within the industry, over the years, as the both regions are expected to show a boost in the demand for drinking water pipe repair systems.
Competitiveness and Domination within the market
The key players operating within this market include KMG Pipe Rehabilitation, 3M Company, Aegion Corp, Kurita Water Industries Limited and Mueller Water Products, amongst others. Essentially, the leading players located in North America, Asia Pacific and the Middle East and Africa, are dominating the global drinking water pipe repair market, making it highly competitive as they expand their service facilities to gain a higher market share.
Category Types in the Market
The following is a list of category types associated with the drinking water pipe repair market:
- • Valves
- • Pipes and Fittings
- • Couplings
- • Fittings
- • Others
Repair Technology in the Market
The following is a list of the repair technology associated with the drinking water pipe repair market:
- • Spot Assessment and Repair
- • Remote Assessment and Monitoring
- • Trenchless Pipe Repair
- • Open and Cut-pipe Repair
Application within the Market
The following is a list of the applications associated with the drinking water pipe repair market:
- • Fresh/Portable Drinking Water Infrastructure
- • Drinking Water Infrastructure
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