Water Service Connections Product Market Size, Share, Growth, and Industry Growth by Type (Valves, Service Fittings, Saddles, Meter Boxes, and Others), By Application (Municipal Water and Industrial Water), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Water Service Connections Product Market REPORT OVERVIEW

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The Global water service connections product market size is estimated to be USD 16592.03 million in 2022, the market is projected to touch USD 23685.29 million by 2028, exhibiting a CAGR of 6.11% during the forecast period. 

Water service connections refer to the pipes and fittings that connect a building to a public water supply or a private well. There are various products available for water service connections. Pipes used for water service connections are typically made of copper, polyethylene (PE), or polyvinyl chloride (PVC) materials. Service boxes are used to provide easy access to the water service connection for maintenance and repair purposes.

Valves are used to control the flow of water in the system. Fittings are used to connect pipes and create a watertight seal. Backflow prevention devices are used to prevent the backflow of contaminated water into the public water supply. Common types of backflow prevention devices include double check valves, reduced pressure zone devices, and atmospheric vacuum breakers.

COVID-19 IMPACT : Increased Need for Remote Monitoring Boosted Demand Significantly

COVID-19 had a life changing impact globally. The global water service connections product market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for water service connections product experienced a boost in demand.

The pandemic has caused delays in many construction projects, including those involving water service connections. This has resulted in longer lead times for the delivery of water service connections products, which can further impact project timelines. The pandemic has disrupted global supply chains, leading to shortages and price increases for certain water service connections products.

The pandemic has highlighted the importance of remote monitoring for water systems. This has led to increased demand for products such as remote metering devices and monitoring software, which can help water utilities and contractors manage water systems without needing to physically visit the site. The market is anticipated to boost the global water service connections product market share following the pandemic.

LATEST TRENDS

"Digital Twinning to Broaden Market Growth"

Digital twins are virtual models of water systems that can be used for planning, monitoring, and predictive maintenance. They are becoming increasingly popular for water service connections, allowing utilities and contractors to identify and address issues before they become major problems. Many manufacturers are now offering low-lead brass fittings for water service connections to comply with updated regulations and standards for lead-free plumbing.

Smart meters are becoming increasingly popular for water service connections. These meters can measure water usage in real-time and transmit the data wirelessly to utilities, allowing for more accurate billing and improved water management. Prefabricated service boxes are becoming more common for water service connections. These boxes are factory-built with all necessary components, including valves, fittings, and metering devices, and can be quickly and easily installed on-site. These latest developments are anticipated to boost the global water service connections product market share.

Water Service Connections Product Market SEGMENTATION

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• By Type

Based on type, the market is divided into valves, service fittings, saddles, meter boxes, and others.

Valves holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into municipal water and industrial water.

Municipal water as application holds a major share of the global market.

DRIVING FACTORS

"Population Growth to Boost Market Share"

As the global population continues to grow, the demand for water service connections products is increasing. This is particularly true in urban areas, where new buildings and infrastructure are needed to support growing populations. Climate change is causing more frequent and severe droughts, floods, and storms, which are putting pressure on water systems. This is leading to a need for more resilient water service connections products that can withstand extreme weather events and maintain water supply even in challenging conditions.

"Technological Advancements to Boost Market Size"

As water resources become scarcer in some regions, there is a growing need for water service connections products that are more efficient and can help reduce water waste. Advancements in technology, such as the development of smart meters and digital twins, are driving innovation in water service connections products, allowing for better monitoring, management, and maintenance of water systems. These factors are anticipated to drive the global water service connections product market share.

RESTRAINING FACTORS

"Inadequate Infrastructure Planning to Hamper Market Share"

Inadequate planning and coordination can also be a restraining factor for water service connections products. Poor planning can lead to delays, cost overruns, and inadequate infrastructure that does not meet the needs of the community. Water service connections products require skilled labor for installation and maintenance, and there is a growing shortage of workers with the necessary skills and experience. The factors are anticipated to hinder the growth of the global water service connections product market share.

Water Service Connections Product Market REGIONAL INSIGHTS

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"Asia-Pacific Dominates the Water Service Connections Product Market "

APAC is the largest market shareholder for global water service connections product market share. Asia Pacific is expected to be the fastest-growing region for water service connections products due to its large and rapidly growing population, urbanization, and increasing investment in infrastructure. In addition, the region is also experiencing more frequent water-related disasters, such as floods and droughts, which are increasing the demand for resilient water service connections products. North America is the second major shareholder for the global water service connections product market share.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• AY McDonald [U.S.]
• Georg Fischer Piping Systems Ltd [Switzerland]
• Hawle [Austria]
• LASCO Fittings, Inc. [U.S.]
• Huot Manufacturing [U.S.]
• The Ford Meter Box Company [U.S.]
• IPL group [Ireland]
• Mueller Co. [U.S.]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.