According to a new market research report published by Credence Research “Water Leak Detection Systems Market (By Type: Active Water Leak Detection Systems and Passive Water Leak Detection Systems; By Application: Residential, Commercial, Water Supply Systems and Others) – Growth, Future Prospects, and Competitive Landscape, 2017-2025”, water leak detection systems market is expected to grow at a CAGR of 5.6 % during the forecast period from 2017 to 2025.
Growing concerns pertaining to wastage of water and damage to property due to leakages in various pipelines and water storage systems have led to the growing popularity of water leak detection systems in the recent years. Water leak detection systems have offered a viable solution to various end-users to curtail losses and additional expenditures associated with accidental water leakages within facilities.
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Thereby, such systems are being widely adopted in various residential, commercial and industrial infrastructures. In addition, several developed economies across the world have framed strict mandates and imposed regulations pertaining to optimum usage and transportation of water which have compelled end users to make use of effective water leak detection systems. Furthermore, evolution of modern day electronics along with technological advancement in sensor technology have led to the rise of advanced solutions for various commercial and residential applications. Thereby, on account of rising product innovation and growing demand for effective solutions, the overall water leak detection market is expected to grow significantly in the following years.
The water leak detection systems market is highly fragmented and comprises several international manufacturers catering to various markets across the world. Manufacturers have been engaged in developing new and improved water leak detection systems in order to achieve higher accuracy and reliability in leak detection. Companies have been increasingly focusing on incorporating advanced electromechanical systems and latest sensors to improve overall efficiency and dependability. Major players in the water leak detection market include TTK S.A.S., Honeywell International, Inc., Pentair Plc., NEC Corporation, Perma-Pipe, Inc., Aqua Leak Detection LLC, Badger Meter, Inc., The 3M Company, Schneider Electric SE, Mueller Water Products, Inc., Pure Technologies Ltd. and LeakTronics (Torque Lock Structural Systems).
- Stringent government regulations and mandates enforcing installation of water leak detection systems for commercial and industrial infrastructures
- Increasing use of advanced technologies such as electromechanical systems and sensors
- Rising awareness among end-users regarding the importance of water conservation and the costs associated with water leakage