Global Leak Detection Market Size study & Forecast, by Type (Handheld Detector, Vehicle-based Detector, UAV-based Detector), by Technology (Volatile Organic Compound Analyser, Optical Gas Imaging, Laser Absorption Spectroscopy, Acoustic Leak Detection, Au

Global Leak Detection Market Size study & Forecast, by Type (Handheld Detector, Vehicle-based Detector, UAV-based Detector), by Technology (Volatile Organic Compound Analyser, Optical Gas Imaging, Laser Absorption Spectroscopy, Acoustic Leak Detection, Audio-visual-olfactory inspection), by End-use Industry (Aerospace, Automotive, Chemical & Petrochemical, Energy& Utility, Food and Beverages, Oil & gas, Others), and Regional Analysis, 2023-2030

Global Leak Detection Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Leak detection refers the procedures involved in identifying and pinpointing leaks within systems or structures, such as pipelines, tanks, or buildings, to mitigate resource loss, environmental harm, or potential risks. This process employs diverse techniques, including visual inspection, pressure testing, acoustic monitoring, and thermal imaging, to identify the origins of leaks accurately and promptly. Efficient leak detection is instrumental in ensuring safety, reducing wastage, and safeguarding the integrity of infrastructures across multiple industries. The market growth is driven by key factors such as increase in oil and gas exploration and production activities, and growing need for advanced leak detection solutions in aging infrastructure.

In industries like oil & gas, chemicals, and water management, aging infrastructure poses a significant risk, underscoring the need for the implementation of advanced leak detection methods. Over time, pipelines, tanks, and distribution networks become increasingly vulnerable to issues such as cracks, corrosion, and general deterioration, which can result in costly and hazardous leaks. For instance, a 2023 report by the American Society of Civil Engineers (ASCE) revealed a significant $2.6 trillion infrastructure shortfall in the U.S., with water and wastewater systems receiving a D grade. However, decrease in global oil prices, and technical complications with leak detector stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Leak Detection Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the leak detection market owing to the implementation of rigorous government regulations and standards in the region. Meanwhile, the Asia-Pacific region is poised to emerge as the fastest growing region during the forecast period, driven by rising demand for oil and oil-related products in the region.

Major market player included in this report are:
Honeywell International Inc
Perma-Pipe International Holdings, Inc.
Pentair PLC
Emerson Electric Co.
Schneider Electric SE.
Siemens AG
Sensit Technologies LLC
FLIR Systems Inc.
Pure Technologies Ltd.
Bridger Photonics, Inc.

Recent Developments in the Market:
 In October 2021, Honeywell introduced two new Bluetooth-connected gas detectors, Searchline Excel Plus and Excel Edge. These devices are engineered to operate effectively in adverse weather conditions such as fog, rain, and snow, utilizing advanced optics and infrared technology for continuous monitoring of hazardous gases at industrial sites. They bolster safety for workers in the oil and gas, petrochemical, and chemical industries. Equipped with Bluetooth connectivity, these detectors streamline maintenance and calibration processes, ensuring dependable gas detection across extensive distances and in challenging visibility conditions, supporting both short and long-range monitoring applications.
 In November 2021, Schneider Electric and Prisma Photonics forged a partnership aimed at offering services to oil and gas pipeline owners and operators. This collaboration facilitates the prevention of accidental and malicious activities through real-time intelligence and precise monitoring of oil and gas infrastructure. Consequently, customers can enhance efficiency and sustainability by mitigating energy and resource losses.

Global Leak Detection Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Technology, End-use Industry Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Handheld Detector
Vehicle-based Detector
UAV-based Detector

By Technology:
Volatile Organic Compound Analyser
Optical Gas Imaging
Laser Absorption Spectroscopy
Acoustic Leak Detection
Audio-visual-olfactory inspection
By End-use Industry:
Aerospace
Automotive
Chemical & Petrochemical
Energy& Utility
Food and Beverages
Oil & gas
Others

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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