I have been offered a PhD opportunity in a UK university and the topic is 'Pipe Leak Detection (using acoustic waves)'.

My question is, is it worth doing a PhD in this area considering the industrial opportunities available for such area of expertise?

** the research is co-funded by the UK Water Industry Research (UKWIR), but I am not sure (at the moment) about the possibility of joining them after the PhD.

Could someone with relevent expertise or someone working in the field advice me or drop some comments. I really appreciate it, thanks in advance for all.

My filed has a few industrial sponsored PhDs but I am not sponsored myself.

Industrial PhDs vary a lot. They can be great ways to get a follow on job or a waste of time. What you really want to know is how committed is the business and how much support they are willing to give. I know someone that spends 2-3 days a week at the company trialing his equipment on site. Which is great experience if you ever want to work in industry but he can't publish most of his results, so will not have a career in academia. Also some companies will invest a lot of money in equipment/time into helping you which speeds along your learning.