The global leak detection and repair market size is expected to be worth around US$ 26.10 billion by 2030, according to a new report by Vision Research Reports.
The global leak detection and repair market size was valued at US$ 18.40 billion in 2020 and is anticipated to grow at a CAGR of 4.10% during forecast period 2021 to 2030.
|Market Size||US$ 26.10 Bn by 2030|
|Growth Rate||CAGR of 4.10% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Technology|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Aeris Technologies, Inc.; IBM Thomas J. Watson Research Center; Bridger Photonics, Inc.; LI-COR, Inc.; Duke University; Colorado State University; Palo Alto Research Center; Maxion Technologies Inc.; Rebellion Photonics; Physical Sciences Inc.; Avitas Systems; PrecisionHawk; SeekOps, Inc.; Advisian; Ball Aerospace & Technologies Corp.; Gas Ops Leak Detectives, LLC (G.O.L.D. LLC).; Guideware Systems, LLC.; Summit Inspections Services, Inc.; GHD, Inc.; ERM Group, Inc.; AECOM; Guardian Compliance; ABB Ltd.; Chicago Bridge & Iron Company N.V.; Heath Consultants; ENCOS, Inc.; Team Inc.; VelocityEHS; Picarro Inc.; Microdrones GmbH; Boreal Laser Inc.; Kairos Aerospace|
The growth can be attributed to the increasing oil and gas leakages in pipelines and storage tanks and the ongoing new pipeline constructions, among others. The rise in oil and gas consumption has increased the production activities of oil and gas and thereby, created the need for leak detection repair systems.
Nowadays, oil and gas companies are leveraging internet of things capabilities for leakage detection, remote area monitoring, and so on. In the oil and gas industry, IoT technology is used for monitoring pumps, compressors, and motors and detecting the temperature, dynamic pressure, and traces of gas in pipelines. Various companies are making efforts to provide internet of things-based pipeline leak detection services. For instance, in November 2020, Siemens announced its partnership with ProFlex Technologies, a provider of leak detection solutions to pipeline operators. Under this partnership, the Pipe-Safe advanced leak detection technology of ProFlex will be combined with Siemen's IoT system to enable operators to reduce the risk of gas leaks.
At the same time, increasing oil and gas production and exploration worldwide is driving the market growth. For instance, in February 2020, Neptune Energy announced gas production from Adorf Carboniferous based in Germany. Leak detection and repair (LDAR) market is a system used to repair leaking components such as pumps, connectors, valves, agitators, and compressors to minimize the emission of Hazardous Air Pollutants (HAPs) and Volatile Organic Compounds (VOCs).
The handheld gas detectors segment dominated the market in 2020 and accounted for more than 37.0% share of the global revenue. Handheld gas detectors are used for monitoring gas leaks owing to its cost-effectiveness and portability. These detectors are used for detecting different gases such as methanal, ammonia, and methane. The rising natural gas production coupled with the increasing trade of oil and gas products is increasing the demand for handheld gas detectors in the oil & gas industry.
The vehicle-based detectors segment is anticipated to register the highest growth rate over the forecast period. Vehicle-based detectors are mounted on the vehicle tops for scanning the surrounding areas for gas leaks. These detectors are effective while driving as well as parking. Additionally, vehicle-based detectors include a built-in GPS receiver that accurately tracks the leak locations. All these factors are contributing to the segment growth.
The Volatile Organic Compounds (VOC) Analyzer segment dominated the market in 2020 and accounted for more than 30.0% share of the global revenue. Different gases such as , N-butane, N-pentane, and N-octane are considered under the volatile organic compound category. The concentration of a VOC is high in an indoor environment compared to the outdoor environment. A VOC is mainly emitted from the products inside a building, such as cleaning supplies, paints, glues, and printing equipment. VOC detectors are mainly used for rapid and accurate detection of volatile organic compounds.
The optical gas imaging segment is expected to register the highest growth rate over the forecast period. Optical gas imaging is a thermal imaging technology that utilizes highly sensitive infrared cameras to detect small fugitive emissions from the oil and gas industries. The demand for optical gas imaging detectors is high in industries such as pulp and paper, petrochemical, natural gas processing plants, and power generation plants. These detectors are used to detect gas leaks from a safe distance and thereby, reduce risks to the environment and personnel.
North America dominated the leak detection and repair market in 2020 and accounted for a market share of 53.0%. The growth of the region can be attributed to the presence of stringent government regulations and norms. The pipeline leak detection regulation of the U.S requires the installation of a leak detection system on hazardous liquid pipelines. The government's support for the oil and gas industries in the U.S. is also driving the country's industrial growth. The growing oil and gas industry is thereby creating the need for leak detection and repair systems in the U.S. Additionally, government subsidies to oil and gas industries are also driving the regional market growth.
Aeris Technologies, Inc.
IBM Thomas J. Watson Research Center
Bridger Photonics, Inc.
Colorado State University
Palo Alto Research Center
Maxion Technologies Inc.
Physical Sciences Inc.
Ball Aerospace & Technologies Corp.
Gas Ops Leak Detectives, LLC (G.O.L.D. LLC).
Guideware Systems, LLC.
Summit Inspections Services, Inc.
ERM Group, Inc.
Chicago Bridge & Iron Company N.V.
Boreal Laser Inc.
Handheld Gas Detectors
Manned Aircraft Detectors
Volatile Organic Compounds (VOC) Analyzer
Optical Gas Imaging (OGI)
Laser Absorption Spectroscopy
Ambient/Mobile Leak Monitoring
Acoustic Leak Detection
Middle East & Africa
The Leak Detection And Repair market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Leak Detection And Repair market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Leak Detection And Repair market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Leak Detection And Repair market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Leak Detection And Repair market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Leak Detection And Repair capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Leak Detection And Repair by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Leak Detection And Repair market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Leak Detection And Repair market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Leak Detection And Repair market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Leak Detection And Repair industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Leak Detection And Repair market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Leak Detection And Repair market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Leak Detection And Repair market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Leak Detection And Repair market. These factors have benefited the growth of the global market for Leak Detection And Repair. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Leak Detection And Repair. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Leak Detection And Repair are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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