Global Leak Detection Market By Category (Oil, Gas), Product (Fixed, Portable), Technology For Oil (Acoustic/Ultrasonic, Mass/Volume Balance, Fiber Optic, Vapor Sensing Tubes, E-RTTM), Technology For Gas (Acoustic/Ultrasonic, Laser Absorption & Lidar, Cable Based, Statistical & Real Time Monitoring, Vapor Sensing, Flow Monitoring, Thermal Imaging), End User (Upstream, Middle stream, Downstream) – Industry Trends and Forecast to 2024
The Global Leak Detection Market accounted for USD 2.35 billion in 2016 and is projected to grow at a CAGR of 6.13% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Leak detection is a method through which occurrence of a leak is determined during corrosion. It can either be in a gaseous or in a liquid form. Both external and internal methods of detection are being available for leak detection such as laser and infrared technology, hydrostatic testing and many more.
- Growth in petrochemical industries and production activities
- Rising incidences of oil and gas leakages
- Strict government regulation and environmental concerns
- Modification of leak detection systems
- On the basis of category
- On the basis of product
- On the basis of technology for oil
- On the basis of technology for gas
- On the basis of end user
- On the basis of geography
The global leak detection market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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Major Market Competitors:
- Honeywell International Inc.,
- FLIR Systems, Inc.,
- Siemens AG,
- Synodon Inc.,
- PSI AG,
- ClampON AS,
- KROHNE Messtechnik GmbH,
- Pure Technologies,
- Pentair PLC.,
- Schneider Electric,
- SENSIT Technologies,
- Atmos International,
- Bridger Photonics Inc.,
- TTK-Leak Detection System,
- RAE Systems,
- EnTech Engineering and IRT Consult Environmental & Energy Ltd
- Among others.
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