Wellesley, Mass, March 22, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals that climate change and extreme weather events, the growing global population, and the trend toward sustainable investing are keying growth in the global market for water infrastructure repair technology (WIRT).
BCC Research's Water Infrastructure Repair Technologies: Global Markets reports that the global WIRT market is expected to pass $92.3 billion by 2021, jumping 34.2% from more than $68.8 billion in 2016, reflecting a robust 6.1% CAGR for the period.
Research Highlights
- Technological improvements and greater variety of products for non-revenue water loss are creating more user-friendly and accessible platforms for water-loss reduction projects.
- Economic, social and cultural incentives are shifting populations from rural to urban regions, further taxing many overburdened city infrastructure systems.
"Lower-middle income countries are urbanizing the fastest. Three countries, India, China and Nigeria, are collectively estimated to account for 37% of the projected growth of the global urban population," says Kevin Fitzgerald, BCC Research editorial director.
Increased Water Value Benefits Wirt
Water has a long history of being undervalued, and thus consumers are not paying near its true value. In response, global utilities are endeavoring to educate the public about the true value of water, and are increasing their water rates. If they choose, the utilities can invest the additional revenue into their infrastructure water systems.
"As water infrastructure continues to deteriorate, more people are affected and taking notice. Across the globe, there are numerous events to educate the public and engage citizens about the value of water," observes Fitzgerald. "As utility companies, policy makers and others invested in water infrastructure push to increase the monetary value of water, along with an increasingly educated public, WIRT projects will potentially have more financial support."
About BCC Research BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
