Dublin, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The "Leak Detection And Repair Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global leak detection and repair market is expected to grow from $14.63 billion in 2021 to $15.52 billion in 2022 at a compound annual growth rate (CAGR) of 6.1%. The leak detection and repair market is expected to grow to $20.5 billion in 2026 at a CAGR of 7.2%.
The leak detection and repair market consist of sales of leak detection and repair services and related goods by entities (organizations, sole traders, partnerships) that refer to the design to identify leaking equipment and repair to reduce the leakage. Its goal is to prevent and eliminate unwanted liquid and gas emissions. A leak detection and repair system help reduce volatile hazardous air pollutants (VHAP) and volatile organic compounds (VOC).
The main product types of leak detection and repair are handheld gas detectors, UAV-based detectors, vehicle-based detectors, and manned aircraft detectors. Handheld gas detectors are gas detectors that are worn or carried by a person and are typically battery-powered.
They are used for poisonous or flammable gas detection, as well as oxygen shortage monitoring in tight places. The different components of leak detection and repair are equipment and services. The various technologies used are volatile organic compounds (VOC) analyzer, optical gas imaging (OGI), laser absorption spectroscopy, ambient/mobile leak monitoring, acoustic leak detection, and audio-visual-olfactory inspection.
North America was the largest region in the leak detection and repair market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the leak detection and repair market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The leak detection and repair market research report is one of a series of new reports that provides leak detection and repair market statistics, including leak detection and repair industry global market size, regional shares, competitors with a leak detection and repair market share, detailed leak detection and repair market segments, market trends and opportunities, and any further data you may need to thrive in the leak detection and repair industry. This leak detection and repair market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing oil and gas pipeline infrastructure is driving the growth of the leak detection and repair market. Oil and gas pipelines are used for transporting gas close to cities and areas which makes it important to have the proper infrastructure to increase efficiency.
The growth of oil and gas pipeline infrastructure is driven by increasing demand for sustainable energy resources, combined with increased interstate trade for supplying natural gas to high-demand areas. Leak detection helps in detecting any kind of defect or leak in the pipelines that could lead to harmful transmission of gas in the cities or areas. Hence, the increasing oil and gas infrastructure is projected to support the leak detection and repair market growth.
Technological advancement is a key trend gaining popularity in the leak detection and repair market. Many companies are launching new and innovative products with new technologies to provide an enhanced experience to their customers. For instance, in December 2019, Gutermann AG, a Europe-based leak detection solutions company launched Zonescan NB-IoT. NB-IoT is a new cellular communication standard that has been designed specifically for machine-to-machine data exchange in smart cities.
It uses Internet of Things technology, a new LTE-based cellular communication standard for smart city machine-to-machine data transfer. It is a correlating system that means the cloud-based Zonescan Net software examines the data of all surrounding sensors every day to find even subtle breaches that individual loggers are unaware of.
In December 2021, Battery Ventures, a US-based technology-focused investment firm acquired LI-COR Biosciences for an undisclosed amount. Through this acquisition, both the companies are expected to grow organically and expand their market presence. Moreover, Li-Cor plans to leverage Battery Ventures' history of innovative analytical-instrument businesses to create better products. LI-COR is a US-based company that is a manufacturer of gas leak analysis devices.
The countries covered in the leak detection and repair market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Major players in the leak detection and repair market are
- Aeris Technologies Inc.
- Bridger Photonics Inc.
- LI-COR Inc.
- Rebellion Photonics
- Avitas Systems
- PrecisionHawk
- SeekOps Inc.
- Advisian
- Gas Ops Leak Detectives LLC
- Guideware Systems LLC
- Summit Inspections Services Inc.
- GHD Inc.
- ERM Group Inc.
- ENCOS Inc.
- Team Inc.
- Picarro Inc.
- Kairos Aerospace
- Physical Sciences Inc.
Key Topics Covered:
1. Executive Summary
2. Leak Detection And Repair Market Characteristics
3. Leak Detection And Repair Market Trends And Strategies
4. Impact Of COVID-19 On Leak Detection And Repair
5. Leak Detection And Repair Market Size And Growth
5.1. Global Leak Detection And Repair Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Leak Detection And Repair Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Leak Detection And Repair Market Segmentation
6.1. Global Leak Detection And Repair Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Equipment
- Services
6.2. Global Leak Detection And Repair Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Handheld Gas Detectors
- UAV-Based Detectors
- Vehicle- Based Detectors
- Manned Aircraft Detectors
6.3. Global Leak Detection And Repair Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Volatile Organic Compounds (VOC) Analyzer
- Optical Gas Imaging (OGI)
- Laser Absorption Spectroscopy
- Ambient/Mobile Leak Monitoring
- Acoustic Leak Detection
- Audio-Visual-Olfactory Inspection
7. Leak Detection And Repair Market Regional And Country Analysis
7.1. Global Leak Detection And Repair Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Leak Detection And Repair Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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