May 11, 2022   SOURCE: BusinessWire

Outlook on the Drain Cleaning Equipment Global Market to 2028 - Featuring Nilfisk, Ridgid and Spartan Tools Among Others - ResearchAndMarkets.com

The "Drain Cleaning Equipment Market to 2028 - Global Analysis and Forecast by Product; Power Source; End-user; Sales Channel and Geography" report has been added to ResearchAndMarkets.com's offering.

The drain cleaning equipment market is expected to grow from US$ 1,682.73 million in 2021 to US$ 2,866.24 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.

Rising awareness and investment towards efficient sewage infrastructure Propels Drain cleaning equipment Market Growth

The MEA region is attracting a lot of foreign investments in its infrastructure and construction sector. Moreover, Africa is facing a housing crisis attributed to the rapidly growing population and the increasing migration of people to urban areas.

It is anticipated that due to the continually increasing population of the region, there will be an increase in the need for housing and other necessary infrastructure. As per the United Nations Department of Economic and Social Affairs, Africa is anticipated to register for over half of the world's total population growth between 2015 and 2050. This will further result in the growth of the construction sector in the region, thereby influencing the market growth of drainage cleaning equipment.

High disposable income and per capita income are primarily expected to increase the adoption of drain cleaning equipment in Saudi Arabia. The country is considering investing in its sewage network, for instance, in 2016, Ajman's Sewerage Chairman said that the sewerage network size is anticipated to double by 2020 in Ajman owing to increasing investments. Further, the presence of large sewage treatment plants and equipment is also expected to contribute towards the market growth of the drain cleaning equipment market.

On the basis of geography, the drain cleaning equipment market is segmented into five key regions - North America, Europe, APAC, the MEA, and SAM. Europe held the largest drain cleaning equipment market share in 2020. The European construction market is experiencing growth after the downturn from the past few years. Due to demographic trends, low mortgage rates, and increased household income, residential construction increases enormously. Along with the new construction, steady growth in renovation and maintenance has been witnessed.

The non-residential construction is also growing due to the positive urge from consumer demand growth and comparatively high corporate profits. The rising demand for housing in this region is one of the key drivers responsible for the growth of the construction sector in Europe. Countries like Germany and the U.K. are experiencing high growth in their construction sector.

Governments of various countries are taking initiatives to support the construction industry. For instance, the Italian government has taken initiatives to strengthen the growth of public and private infrastructural investment. Also, in Spain, the government provided subsidiaries and grants for the renovation and construction of houses for rent.

In addition, the Italian government is providing tax rebates and low mortgage interest rates to spur the recovery of residential construction in the country. New measures were also launched recently to enhance the country's property market further. Such initiatives are anticipated to stimulate the growth of the construction sector in the country. Thus, the market for drain cleaning equipment is also expected to grow with the growth of the construction sector in the European region.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global drain cleaning equipment market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global drain cleaning equipment market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Surge in urbanization among developing economies
  • Rising awareness and investment towards efficient sewage infrastructure

Restraints

  • Unstable raw material prices and impact of macro-economic factors

Opportunities

  • Swift rise in demand from African region

Future Trends

  • Development of technology driven drain cleaning equipment

Companies Mentioned

  • Aussie Pumps
  • Duracable Manufacturing
  • Electric Eel Manufacturing Co.
  • Flowplant Group Limited
  • General Wire Spring Co.
  • Goodway Technologies
  • Gorlitz Sewer and Drain, Inc.
  • Nilfisk
  • Ridgid
  • Spartan Tools

For more information about this report visit https://www.researchandmarkets.com/r/cwz80x