The leak testing market is expected to grow at a CAGR of 4.8% to reach US$ 13.0 Bn by the end of 2032. Rising industrial activities across developing and developed nations is estimated to drive the growth in the leak testing market over the forecast period.
Technological innovations have led to the development of advanced NDT processes with improved fault detection and safety. Furthermore, increasing awareness among manufacturers regarding the use of NDT is expected to improve the penetration of NDT techniques in the forthcoming years.
Growth can also be attributed to increasing demand for leak detection and repair (LDAR) systems from utility companies due to their benefits such as safety improvement, cost-saving, and environmental protection.
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Besides this, advancements in non-destructive testing technology have led to the development of ultrasound leak testing tecnology which is used for simple and fast leak detection on compressed air, inert gas and vacuum systems.
Leak testing systems also help oil and gas and petroleum companies make workplaces healthier by decreasing the risk of accidents caused by explosions and fire outbreaks. Increasing developments in natural gas and petroleum infrastructure worldwide will drive the market.
“Increasing demand from watertreatment plants, coupled with growing infrastructural development across developing economies will augment the growth in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- By hardware type, detectors sales are expected to grow at a CAGR of 4.8% during the forecast period.
- Based on methodology, the hydorstatic segment is anticipated to dominate the market accounting for about 30.4% of the total market share.
- In terms of end use, the oil & gas segment is projected to create an absolute dollar opportunity worth US$ 608.9 Mn during the forecast period.
- The U.S. leak testing market will create an absolute dollar opportunity of US$ 642.9 Mn by 2032.
- Sales in the China leak testing market will increase at a 5.5% CAGR over the assessment peripd.
- In terms of region, leak testing sales in Europe are estimated to increase at a CAGR of 5.3% through 2032.
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Competitive Landscape
Drägerwerk AG & Co. KGaA, Honeywell International Inc, Emerson Electric Co, MSA Safety Inc, INFICON, SGS SA, Uson, L.P, Testo SE & Co KGaA, Vacuum Instrument Corporation, CETA TESTSYSTEME GmbH, ATEQ Corporation, Pfeiffer Vacuum GmbH, LACO Technologies Inc, TCR Advanced Engineering Private, Applied Technical Services LLC, Helium Leak Testing, Inc, APT Angewandte Prozessortechnik GmbH, and TASI Group are some of the key manufacturers operating in the global leak testing market.
Key Segments Covered in Leak Testing Industry Analysis
By Type:
- Hardware
- Software
- Services
By Hardware Type:
- Detectors
- Pressure Decay Leak Testing System
- Tracer Gas Leak Testing System
- Mass Flow Leak Test System
- Vacuum Decay Leak Testing System
- Sensors
- Pressure Sensor
- Liquid Leak Sensor
- Micro-Flow Sensor
- Accessories
- Digital Vacuum Gauge
- Portable Leak Finder
- Others
By Methodology:
- Hydrostatic
- Air Pressure
- Gas Based
- Hydrogen
- Halogen
- Helium
- Radioactive
- Others
By End-Use:
- Oil & Gas refineries
- Automation
- HVAC/ Refrigeration
- Water Treatment
- Power plants
- Chemical plants
- Thermal plants
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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