Albany, NY -- (SBWIRE) -- 04/10/2018 -- Presently, increasing need to identify the water quality before delivering it to distribution system has forced the water treating facilities to install water quality sensors, which indirectly raises the demand for the water quality sensors products. Market Research Hub (MRH) has freshly publicized a study titled "Water Meters, Water Quality Sensors and Water Leak Detection: Global Markets" to its report offerings, which covers a precise study of the current as well as future growth prospects for the market. Moreover, the primary regions are analyzed for the purpose of evaluating the impact of the different factors mentioned in the research report.
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Water quality sensors are the tools that are utilized to measure the level of water contamination. The device converts the polluted water into fresh water by improving the levels of efficiency, better management, accuracy and less operation cost. Looking to the current market scenario, analysts have found that the global market for water meters reached nearly $4.0 billion in 2017 and should reach $5.1 billion by 2022, at a compound annual growth rate of 5.3% during the forecast period of 2017-2022.
For a better understanding of the market, the report highlights opportunities in the water meters market at the global and regional level. Prime regions emphasized in the study are North America, Europe, Latin America, Japan, Middle East & Africa (MEA), and Asia Pacific; these are analyzed in terms of market revenue. Further, the scope of this report covers types and applications of water meters, quality sensors and leak detectors used globally, as well as the subtypes of these products and their applications.
Key Factors Associated with the Market
As per the research findings, the global market for water meters, water quality sensors and leak detectors will be driven by factors such as increasing demand for improved water metering by utility companies, rising awareness of water quality in various applications, increasing demand for wastewater treatment and reuse, water conservation and government regulations for the usage of leak detection systems during forecast 2017 to 2022.
In terms of geography, North America held the largest market share in the water meter, water quality sensors and water leak detection market. The increasing demand for better water infrastructure, particularly in North America is driving the global market increasingly.
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Later, the competitive landscape is also offered in the report which is a valuable resource for readers, as it helps in gauging the complete competitive scenario in the market. Key players functioning in the global market include Honeywell International, Envirotech Alarms Ltd., Abb Asea Brown Boveri Ltd., Itron, Diehl Metering Group, Siemens, Thermo Fisher Scientific Inc., Aqualeak Detection Ltd., Geotech Environmental Equipment Inc., Danaher Corp. and Badger Meters.
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