The residential construction sector has started gaining momentum in recent years after a weak growth in the past years due to surge in regional population and increasing demand for single-family homes. Thus, the growth in residential construction is likely to surge the need for an efficient water management system, further boosting the demand for water pipeline leak detection systems in the coming years. The residential sewage accounts for a significant share of a total sewage volume of a city/area. Owing to the staggering growth of the population, several countries have witnessed a surge in number of residential construction projects in recent years, which, in turn has created a significant demand for the proper water pipeline system. Additionally, with the growing population, several countries in the region lag in proper water and wastewater infrastructure. Therefore, countries are adopting modern technologies for residential water leakage maintenance. Also, various governments have undertaken several initiatives in several countries to adopting water and wastewater infrastructure, which is further propelling the growth of the Europe water pipeline leak detection system market.
Businesses in Europe faced severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2021. Countries such as Italy, Spain, and Germany implemented drastic measures and travel restrictions to limit the spread of SARS-CoV-2 in 2020. European countries represent a major market for water pipeline leak detection system adoption due to the presence of old water supply infrastructure. However, prolonged lockdown phases in several European countries hampered the installation of advanced leak detection systems. The global water sector in the region was impacted by the COVID- 19 across five major trends such as global warming, which has led to an increase in occurrence of droughts and floods, challenging the flexibility of water and sanitation systems; growing number of people living in areas facing water stress that is rising the supply vulnerabilities; rapid urbanization, which stresses the existing water resources and ecosystems; the development of megacities, creating challenge for the extending water and sanitation services.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe water pipeline leak detection system market. The Europe water pipeline leak detection system market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 485.59 Million |
| Market Size by 2028 | US$ 778.21 Million |
| Global CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
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| Regions and Countries Covered | Europe
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| Market leaders and key company profiles |