Test Title 11 - Water Pipe Repair Market skyrockets
The compound annualized growth rate (CAGR) of the global drinking water pipe repair market is expected to expand at a rate of 7% between 2018 and 2026, according to the Transparency Market Research (TMR). In TMR's 'Drinking Water Pipe Repair Market –Size, Global Industry Analysis, Share, Growth, Forecast and trends' report published for this period, the market, as of 2018, is valued at over US US$56 billion.
There are a number of factors that would lead to this incline, which is heavily dependent on global construction activities. One major factor contributing to the large number of drinking water pipelines currently in existence around the world, is the growing population. In an effort to eliminate the all the water pipe leakages and all the water pipe bursts that happen every hour worldwide, repairs and maintenance of these drinking water pipelines have been accounted for with regard to the forecasted period, in addition to new construction activities.
Impact from Delayed Projects and Economic Recession A decline for drinking water pipe repair can be a result from unforeseen political instability causing economic recessions and insufficient funding across the global. This is likely to impact on the industry causing multiple projects to be delayed, hindering infrastructure activities. Even though the rise in population growth would cause likely cause industries to adopt drinking water pipe repairs as a solution to gain public acceptance, in underdeveloped countries, where these costs are significantly high, the inadequate capital of small-scale industries would be a restraining factor.