March 21, 2017
Wellesley, Mass., Mar 21, 2017 – 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.
"Lower-middle income countries are urbanizing the fastest. Three countries,India,ChinaandNigeria, 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."
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Water Infrastructure Repair Technologies: Global Markets( ENV027B )
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