The report segments the global water leakage detector systems market by product (fixed leakage detector and portable leakage detector), by end-user (residential and commercial), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global water leakage detector systems market, according to Technavio consumer and retail researchers:
- Rising water stress levels across the globe: a major market driver
- In 2016, the fixed leakage detector segment dominated the market by occupying more than 62% share
- The Americas dominated the global water leakage detector systems market with a share of close to 49% in 2016
- 3M, ABB, Badger Meter, Gutermann AG, and Halma are the leading players in the market
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Rising water stress levels across the globe: a major market driver
Rising water stress levels across the globe are one of the major factors driving the global water leakage detector systems market. 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 is further contributing to the increasing water stress levels. Rising water-pollution levels and contamination of available water further reduce the amount of water available for personal consumption. The need for water leakage detector systems is expected to increase during the forecast period, which is driven by the need to reduce water-wastage levels through the detection of inefficiencies in water supply systems such as water pipelines.
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Americas: largest water leakage detector systems market
In the Americas, the United States is the key market for water leakage detector systems. The market in the US is driven by technological advancements and increased investments. Government support for the installation of water leakage detector systems is aiding the growth of the market in the US.
According to Shikha Kaushik, a lead analyst at Technavio for research on retail goods and services, “Inherent advantages of installing water leakages detector systems such as reduced water loss and improved revenues add to the high demand for water leakage detector systems in the Americas. The water leakage detector systems market in the Americas is expected to grow rapidly during the forecast period.”
Competitive vendor landscape
The key vendors in the market primarily cater to the commercial and industrial sectors. Competition among the existing vendors is intense. The international players have increased their market penetration. This increases competition among regional vendors in terms of reliability, technology, and price. Increasing product or service extensions, technological innovations, and M&As further help in the growth of the market. Companies with improved technical and financial resources are engaged in developing innovative products to gain competitive advantage. Competitors in the market need to be technologically updated to sustain their market shares.
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