Exploring The Booming Market For Drinking Water Pipe Repair Services And Infrastructure Restoration
By Rahul Mengane
As the market name prompts, the drinking water pipe repair market is subjected to the growing demand for intact water pipelines.
With the elevated need for pure and regular water supply, it will likely become a prominent market that will play an active role in the energy and natural resources sector.
The drinking water pipe repair market will likely progress at a CAGR of 6.8% through 2031, reaching US$ 128.5 billion by the end of the forecasted period.
Will the Water Scarcity Affect the Market Growth?
Water, a vital commodity for human life, must be preserved and used carefully for sustainable returns. However, despite several efforts from international and local bodies, many people face water scarcity. It has become a critical issue in the world. Apart from the shortage of potable water resources, contamination is another crucial issue that surges the demand for cleaners, disinfectants, and sanitation equipment.
Further, transporting and storing purified water is a key issue in many countries, including Middle Eastern countries. As a result, they are refrained from the accessibility to potable water, creating water scarcity. Thus, this water scarcity generates a scorching need for water from distant sources.
Many countries are not adequately equipped with high-quality pipelines due to lacking infrastructure growth and development. Damaged pipelines cause water losses, leading to water shortages. Not only the drinking water is lost due to this but the agricultural sector also suffers water shortage, creating allied critical issues. Hence, aging infrastructure leads to water scarcity.
However, the growth of the drinking water pipe repair market will likely be accelerated due to these factors, as the need for pipeline replacement, repair, and maintenance will grow.
The aging infrastructure will demand replacing existing water transport systems with modern ones. Moreover, many additional features, like water sanitation plants and desalination systems, can be installed to boost the amount of potable water.
Population Growth Serves as a Market Driver
The growing population is a critical factor surging the demand in various sectors. Due to the increasing global population, the demand for basic human necessities like food, shelter, and clothing has increased.
Water is another critical demand that will eventually grow due to the growing population. The world is estimated to reach 9.7 billion by 2050, burdening the potable water supply demand.
The underground water supply network in many regions breaks due to aging. It not only hampers the water supply but also affects the country economically. As the population per square kilometre rises, water supply systems are burdened, and system breakdown can occur more frequently. This creates market demand for the drinking water pipe repair market.
Furthermore, the growing population puts a burden on the natural potable resources of water. It surges the need for better water harvesting, desalination of saltwater resources, and purifying and reusing the water treatment plants. As a result, the drinking water pipe repair market will develop new prospects in different market verticals.
Consumers Say, ‘We Need Safe Water!’ An Opportunity Knocking?
Consumer awareness regarding safe and pure drinking water is increasing. This will likely increase the demand for clean and potable water in different sectors. Due to this, there will be a golden opportunity for the drinking water pipe repair market, helping it grow.
Governments are also imposing strict regulations regarding the water issue. This forces different organizations to implement regulatory policies for safe drinking water. Consequently, this will create lucrative growth prospects for the market.
The growing concern for repairing and maintaining pipelines will draw more attention to the progress of the drinking water pipe repair market. Hence, this is another opportunity to knock on the door.
Installation and Maintenance of Pipelines? Too Expensive!
A robust pipeline network must be established to provide potable water over longer distances. Moreover, geographical complications must be considered as they actively deliver an uninterrupted water supply. Consequently, engineering solutions tailored to various complexities are required to be provided.
However, the installation of these pipelines becomes an expensive affair. Due to the longer distances from the water plants, the installation cost increases. This is a key market hindrance affecting the growth of the drinking water pipe repair market.
Water pipelines, being buried underground, require frequent maintenance. The excessive pressure created underground might affect the longevity of pipelines and it affects the pressure of the water flow. This requires frequent repair and maintenance of pipelines, requiring heavy monetary investment. Therefore, this is another key issue affecting the drinking water pipe repair market growth.
The discussion shows that the drinking water pipe repair market will advance moderately through its forecasted period. The factors supporting the growth include the growing population and rising awareness about safe and potable water.
Furthermore, the government’s support is vital in replacing the aging infrastructure to ensure a secure water supply. However, the foremost market challenge is the high investment costs for installation, repairing, and maintaining water-supplying pipelines.