Global Water Leakage Detector Systems Market 2017-2021
About Water Leakage Detector Systems
The global leak detection market for the oil and gas industry is expected to grow during the forecast period. The reason for the market's growth is the rising demand for oil and gas pipeline projects, especially at offshore locations. Offshore locations are highly preferred for oil and gas pipeline projects due to the shift of oil and gas operations to high-pressure areas and deep-water zones. The increased demand for clean energy resources has boosted the demand for natural gas resources.
Technavio’s analysts forecast the global water leakage detector systems market to grow at a CAGR of 6.09% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global water leakage detector systems market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Water Leakage Detector Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global water leakage detector systems market: 3M, ABB, Badger Meter, Gutermann AG, and Halma.
Other Prominent Vendors in the market are: Aquilar, Honeywell International, Mueller Water Products, NEC Corporation, Pentair, Pure Technologies, Schneider Electric, Siemens, SPX Corporation, and TTK.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological innovations. The incorporation of technological advancements in water leakage detector systems is a key trend in the global water leakage detector systems market. Prominent technological advancements in the market include water leakage detectors for do-it-yourself (DIY) smart home systems.”
According to the report, one driver in the market is rising water stress levels across the globe. Of late, water stress levels have increased in many countries across the globe. Water stress occurs when the demand for water exceeds its supply. The increase in water-stress levels is attributed to rising pollution levels, climate change, and geographical differences. Population growth, changing consumption patterns, and urbanization are further increasing water stress levels. Rising water-pollution levels and contamination of available water further reduce the amount of water available for personal consumption.
Further, the report states that one challenge in the market is high installation cost. The installation cost of a water leakage detector system is relatively higher than that of a water meter. The return on investment for water meters can be obtained within a duration of five to eight years. For instance, the US EPA, has laid a program (“Fix a Leak Week”) for fixing water leakages across the nation. Not all service providers have the required capital for huge investments. Apart from that, installation of such expensive technologies in a country with a large population base is a task in itself.
3M, ABB, Badger Meter, Gutermann AG, Halma, Aquilar, Honeywell International, Mueller Water Products, NEC Corporation, Pentair, Pure Technologies, Schneider Electric, Siemens, SPX Corporation, and TTK.
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