PUBLISHER: Inkwood Research | PRODUCT CODE: 1260734
PUBLISHER: Inkwood Research | PRODUCT CODE: 1260734
The North America water infrastructure and repair technology market is projected to grow with a CAGR of 6.89% during the forecasting years of 2023 to 2032. Some of the key drivers augmenting the market growth of the region are government initiatives directed towards introducing loan schemes for the upgradation of water infrastructure, the focus of large-scale manufacturers on the expansion of their rehabilitation technology business, and the increase in investments in the aging infrastructure.
The North America water infrastructure and repair technology market growth evaluation includes the analysis of Canada and the United States. The presence of a significant number of regional small- and medium-sized enterprises is presently boosting the water infrastructure and repair technology market in Canada. Moreover, the country's government is also opting for various initiatives for the reduction of water consumption and the reuse of wastewater.
Aligning with this, in 2016, the Government of Canada established the Clean Water and Wastewater Fund (CWWF). The program is expected to contribute to the rehabilitation of the country's water treatment and distribution infrastructure, in addition to existing stormwater and wastewater treatment systems, collection, and conveyance infrastructure. Furthermore, it also entails initiatives aimed at the improvement of asset management, planning for forthcoming upgrades to water and wastewater systems, and system optimization. Hence, these factors are set to play an essential role in facilitating the North America water infrastructure and repair technology market growth over the forecast period.
Key companies operating in the market are: DuPont, Aclara Technologies LLC, 3M Company, etc.