Persistence Market Research has released their forecast for the global drain cleaning equipment market between 2017 and 2025. The report segments the market to allow for product type segmentation of: hand tools, power tools, municipal, residential and industrial sales channels. Region segmentation is also provided, with the report segmented by: Asia, Africa and the Middle East, Europe, Latin America and North America.
The power tools segment is slated to gain a 71% increase in market share by the end of 2025. Market share is slated to increase 350 basis points in 2025 when compared to 2017. CAGR is forecast to increase at a rate of 5.9% to $182 million by 2025.
The municipal drain cleaning segment will grow the fastest, with an estimated value of $104.5 million by the end of 2025. Industrial segment growth is expected to remain steady, but will be outpaced by the municipal segment.
Distributors will maintain a 52% revenue share of the market, with a 170 basis points gain in 2025 over 2017.
The North American region will remain the dominant region for cleaning equipment. The market is projected to maintain a 39% market share throughout the duration of 2017 – 2025. Europe will maintain the second market share position with 28% of the market. North America’s market will have an incremental opportunity of $32.7 million. Europe will maintain steady growth through 2025.
Mosco Corp., Goodway Technologies Corp., General Wire Spring Co. and GT Water Product Inc. are among the leading companies named in the report. The leaders in the industry encompass 40% of the overall market in 2016.
Research and Markets provides a completely different report that claims the market will grow from $573.7 million in 2016 to $936.2 million by the end of 2025. The growth indicates a 5.7% CAGR during this time period.
Drain cleaning solutions are in high demand, as the world’s sewer and plumbing systems continue to age. Fatty food grease has also caused a major problem in several cities, with fat from Christmas dinner causing many home pipes to clog in Europe.
The United States is also undergoing severe drain cleaning problems, as many homes, especially in older regions of the country, are older than 100 years. In some cases, the water lines have becoming clogged or the piping systems have narrowed due to decades of buildup.
Sewer systems and infrastructure have become a major discussion point for city officials, who are working to keep up with older system repair. Flooding is becoming a major issue in cities, such as San Francisco, which can no longer stop flood waters from entering city streets.
Older systems, clogs and cracks are causing sewer systems to overflow and negating their effectiveness in flood control.
San Francisco has set aside $700 million that will be used over the next 15 years to expand the city’s sewer infrastructure. City officials claim that there is only so much that cities can do to curb flooding and sewer-related concerns. Identifying and targeting key areas where sewer and water systems have the most problems is key to controlling the issues.