Leak Detection and Repair Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Component (Service, Equipment); Product (Handheld Gas Detectors, UAV-Based Detectors, Vehicle-based Detectors, Manned Aircraft Detectors); Technology (Volatile Organic Compounds Analyzer, Optical Gas Imaging, Laser Absorption, Spectroscopy, Ambient/Mobile Leak Monitoring, Others); Region/Country

Published:

Feb-2022

Pages:

242

Table:

48

Figure:

126

Report ID:

UMCH21667

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description


The Global Leak Detection and Repair
is Expected to Display an Elevated CAGR of ~10% over the forecast period (2021-2027)

A rise in onshore and offshore oil & gas exploration activities coupled with the growing emphasis on renewable energy across countries is one of the prominent reasons driving the demand of the leak detection and repair market. Moreover, increasing focus on advanced and portable leak detectors to maintain higher safety standards is also driving the growth of the market.  Moreover, With the expanding pipeline network and rising demand for fossil fuels, the global oil and gas leak detection system market is likely to gain traction. The global pipeline network, which is responsible for the movement of oil and gas products around the globe, is approximately 3.5 million kilometers long. Pipelines are regarded as the safest and most efficient means of transporting hydrocarbons because they are toxic in nature and any spills or leakage can result in significant losses for both the product owner and the environment.

Moreover, various government policies in these several countries support the use of cleaner fuels which in turn is leading to the increased production of natural gas across countries. As per BP Stats, the United States produced 740.3 billion cubic meters in 2015 which increased to 914.6 billion cubic meters in 2020.  Moreover, surging activities in Mining oil and gas extraction, etc. in the countries is also propelling the demand for the LDAR. As of May 2021 in the United States, there are about 570,000 people employed in mining, quarrying, and oil and gas extraction

Global Natural Gas Production (in Billion Cubic Meters), 2014-2020

Aeris Technologies, Inc., Bridger Photonics, Inc., LI-COR, Inc., ABB Ltd., Palo Alto Research Center, Maxion Technologies, Inc., Rebellion Photonics, Physical Sciences, Inc., Avitas Systems, Precision Hawk, etc., are some of the prominent players operating in the leak detection and repair market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst component, service segment holds the major share”

Based on components, the market is fragmented into service and equipment. The service segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The rising number of oil and gas, industrial facilities across the globe results in a greater demand for the services. However, the equipment segment would witness the highest CAGR in the forthcoming years

“Amongst product, UAV-based detectors segment to grab considerable market share”

Based on the product, the market is fragmented into handheld gas detectors, UAV-based detectors, vehicle-based detectors, and manned aircraft detectors. The handheld gas detectors segment grabbed XX% market share and captured USD XX Mn market in 2020 wing to the benefits it offers such as fast and reliable detection, compact and lightweight structures, and ease of use. However, the UAV-based detector segment would witness the robust CAGR during the forthcoming years

“Amongst technology, volatile organic compounds analyzer segment grabbed major market share”

Based on the technology, the market is fragmented into volatile organic compounds analyzer, optical gas imaging, laser absorption, spectroscopy, ambient/mobile leak monitoring, and Others. The volatile organic compounds analyzer segment grabbed XX% market share and captured USD XX Mn market in 2020

“North America represents one of the largest markets of Leak Detection and Repair market”

For a better understanding of the market dynamics of the Leak Detection and Repair market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to rising natural gas and oil production coupled with the surging industrial sector.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Leak Detection and Repair Market
2.2.Research Methodology of the Leak Detection and Repair Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Leak Detection and Repair Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5GLOBAL LEAK DETECTION AND REPAIR MARKET COVID-19 IMPACT
6GLOBAL LEAK DETECTION AND REPAIR MARKET REVENUE, 2019-2027F
7.1.Services
7.2.Equipment
8.1.Handheld Gas Detectors
8.2.UAV-Based Detectors
8.3.Vehicle-based Detectors
8.4.Manned Aircraft Detectors
9.1.Volatile Organic Compounds Analyzer
9.2.Optical Gas Imaging 
9.3.Laser Absorption Spectroscopy
9.4.Ambient/Mobile Leak Monitoring
9.5.Others
10.1.North America Leak Detection and Repair Market 
 10.1.1.United States
 10.1.2.Canada
 10.1.3.Rest of North America
10.2.Europe Leak Detection and Repair Market 
 10.2.1.United Kingdom
 10.2.2.Germany
 10.2.3.France
 10.2.4.Italy
 10.2.5.Spain
 10.2.6.Rest of Europe
10.3.Asia Pacific Leak Detection and Repair Market
 10.3.1.China
 10.3.2.Japan 
 10.3.3.India
 10.3.4.Australia
 10.3.5.South Korea
 10.3.6.Rest of Asia Pacific
10.4.Rest of World Leak Detection and Repair Market 
11.1.Market Drivers
11.2.Market Challenges
11.3.Impact Analysis
12LEAK DETECTION AND REPAIR MARKET OPPORTUNITIES
13LEAK DETECTION AND REPAIR MARKET TRENDS
14LEGAL & REGULATORY FRAMEWORK
15.1.Demand Side Analysis
15.2.Supply Side Analysis
 15.2.1.Top Product Launches
 15.2.2.Top Business Partnerships
 15.2.3.Top Business Expansions, Investments and Divestitures
 15.2.4.Top Merger and Acquisitions
16VALUE CHAIN ANALYSIS
17.1.Competitive Landscape
 17.1.1.Company Shares, By Revenue
18.1.Aeris Technologies, Inc.
18.2.Bridger Photonics, Inc.
18.3.LI-COR, Inc.
18.4.Colorado State University
18.5.Palo Alto Research Center
18.6.Maxion Technologies, Inc.
18.7.Rebellion Photonics
18.8.Physical Sciences, Inc.
18.9.Avitas Systems
18.10.PrecisionHawk
19DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the leak detection and repair market were the three major steps undertaken to create and analyze the demand for leak detection and repair across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the leak detection and repair market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the leak detection and repair through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:
After obtaining the historical market size of the leak detection and repair market, we conducted a detailed secondary analysis to gather historical market insights and share for components, products, and technology for major regions. Major segments included in the report are product and technology. Further region and country-level analyses were conducted to evaluate the overall adoption of leak detection and repair across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the leak detection and repair. Further, we conducted factor analysis using dependent and independent variables such as the rising oil and gas sector, growing emphasis on clean energy, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Leak Detection and Repair industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Leak Detection and Repair market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of leak detection and repair across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Leak Detection and Repair market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the leak detection and repair market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of the component, product, and technology of the Leak Detection and Repair market.

Main Objective of the Leak Detection and Repair Market Study

The current & future market trends of leak detection and repair were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of leak detection and repair in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of component, product, and technology
  • Define and analysis of the regulatory framework for the Leak Detection and Repair industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Leak Detection and Repair market for the major countries
  • The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
  • Company profiles of the leak detection and repair market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry