Leak-Detection And Repair

Leak Detection And Repair Market Projected CAGR of 4.10% by 2030

SHARE THIS ARTICLE

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.

Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/37399

Report Coverage

Report Scope Details
Market Size US$ 26.10 Bn by 2030
Growth Rate CAGR of 4.10% From 2021 to 2030
Base Year 2021
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

Growth Factors

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).

Report Highlights

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.

Key Players

  • 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

Market Segmentation

  • Product Outlook 
    • Handheld Gas Detectors
    • UAV-Based Detectors
    • Vehicle-based Detectors
    • Manned Aircraft Detectors
  • Technology Outlook 
    • Volatile Organic Compounds (VOC) Analyzer
    • Optical Gas Imaging (OGI)
    • Laser Absorption Spectroscopy
    • Ambient/Mobile Leak Monitoring
    • Acoustic Leak Detection
    • Audio-Visual-Olfactory Inspection
  • Regional Outlook 
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Russia
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
      • Venezuela
    • Middle East & Africa

Browse complete table of contents at@https://www.visionresearchreports.com/leak-detection-and-repair-market/toc/37399

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/37399 or call: +1 9197 992 333

Daksh

Daksh is an SEO Analyst having 3 years of experienced. we can quickly understand and support initiatives that will contribute to the goals and success of client campaigns. and also Perform keyword research in coordination with client business objectives to optimize existing content and uncover new opportunities.

View all posts by Daksh →

Leave a Reply

Your email address will not be published. Required fields are marked *