The best subsea leak detection systems require continuous operation and speedy leak detection. Regardless of the flow conditions, they should be simply constructed, installed, and economical. The vast majority of leak detection techniques fall short in frigid environments. Some of these technologies cannot provide details on the source, extent, quantity and kind of leakages (small, medium, and large leakages). Most oil and gas pipeline systems are scattered over a large geographic area, and command and control centres use a variety of communication channels to manage them. Consequently, there is a requirement to enhance the efficiency of these facilities and leakage-detecting systems to provide greater knowledge of leakages and their characteristics is growing largely.
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Data Bridge Market Research analyses that the Leak Detection Market is expected to grow at a CAGR of 8.60% in the forecast period of 2022 to 2029 and is expected to reach USD 4.41 billion by 2029 from USD 2.279 billion in 2021.
High Consumption of Oil and Natural Gas is Expected to Drive the Market
Gas and oil are processed to create refined petroleum products, which are then utilized in various applications and as raw ingredients to create a variety of goods. In addition to being utilized as a fuel for heating automobiles, they are also employed in various petrochemical industries as a raw material to create a range of products such plastics, polyurethane, solvents, and other intermediates and finished items. Additionally, as the number of automobiles has increased, so will gasoline usage. The fuel must be kept in sizable containers and transferred via pipes or tankers. Oil and gas are susceptible to leaking from various sources and parts during the time. Companies must install leak detectors to stop this leakage, opening up opportunities for the growth of the global leak detection market. The oil and gas sector has expanded due to the expanding need for these resources, and more production is being done to meet this demand. If there is a leak or accident, the entire oil and gas value chain might be affected, which would restrict the rising demand. Leak detectors are utilized to prevent these situations, providing an opportunity for the growth of the worldwide leak detection market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Upstream, Midstream and Downstream), Product Type (Handheld Gas Detectors, UAV-Based Detectors, Manned Aircraft Detectors and Vehicle-Based Detectors, Others), Technology (Acoustic / Ultrasound, Fiber Optic, Pressure-Flow Deviation Methods, Extended Real-Time Transient Model (E-RTTM), Thermal Imaging, Mass/Volume Balance, Vapor Sensing, Laser Absorption and Lidar, Hydraulic Leak Detection, Negative Pressure Valves and Others), End User (Oil and Gas, Chemical Plant, Water Treatment Plants, Thermal Power Plant, Mining and Slurry and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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FLIR Systems, Inc. (U.S.), ABB (Sweden), Honeywell International Inc. (U.S.), Siemens (Germany), Pentair (U.S.), ClampOn AS (Norway), Schneider Electric (France), Atmos International (U.K.), Xylem (U.S.), Emerson Electric Co. (U.S.), KROHNE Messtechnik GmbH (Germany), PERMA-PIPE International Holdings, Inc. (U.S.), TTK (India), PSI Software AG (Germany), MSA (U.S.), HIMA (Canada), AVEVA Group plc (U.K.), Yokogawa Electric Corporation (Japan), INFICON (Switzerland), Fotech Group Ltd. (U.K.), Asel-Tech Inc. (U.S.), MAGNUM Pirex AG / MAGNUM LEO-Pipe GmbH (Germany), Hawk Measurement Systems (Australia) and OptaSense Ltd. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
Global leak detection market is segmented into four notable segments which are based on type, product type, technology and end user.
- On the basis of type, global leak detection market is segmented into upstream, midstream and downstream.
Midstream segment is dominating the global leak detection market
Midstream segment is dominating the global leak detection market with the market share of 66.81% as midstream segment basically deals with the transportation of crude oil and natural gas through various modes of transportation such as pipeline. These pipelines are needed to be protected against leakages to avoid leak incidents and cause loss of life and property. Thus, the midstream is dominating the type segment.
- On the basis of product type, global leak detection market is segmented into handheld gas detectors, UAV-based detectors, manned aircraft detectors and vehicle-based detectors. Vehicle-based detectors segment is dominating the leak detection market with the market share of 32.60% as it can be easily mounted on a vehicle and be used for monitoring the pipelines through the moving vehicle. This is the most economical and fast way of detecting leaking and is therefore dominating the product type segment.
- On the basis of technology, global leak detection market is segmented into acoustic/ultrasound, fiber optic, pressure-flow deviation methods, extended real-time transient model (E-RTTM), thermal imaging, mass/volume balance, vapor sensing, laser absorption and LIDAR, hydraulic leak detection, negative pressure waves and others.
Acoustic / ultrasound segment is dominating the leak detection market
Acoustic / ultrasound segment is dominating the leak detection market with the market share of 24.10% as it offers faster detection of leakage and is low cost solution, moreover, it provides early detection and the loss can be prevented at an early stage, these factors lead to highest growth of acoustic/ultrasound in technology segment.
- On the basis of end user, global leak detection market is segmented into oil and gas, chemical plant, water treatment plants, thermal power plant, mining and slurry and others. Oil and gas segment is dominating the leak detection market with the market share of 28.62% as this industry is a major user of leak detection system in order to prevent leakage of crude oil and gas and methane emission. The leakage can lead to severe loss of life and property. Moreover, several government regulations to prevent leak incidents have increased the demand of leak detection in oil and gas industry.
Major Players
Data Bridge Market Research recognizes the following companies as the major paint protection film market players in leak detection market are FLIR Systems, Inc. (U.S.), ABB (Sweden), Honeywell International Inc. (U.S.), Siemens (Germany), Pentair (U.S.), ClampOn AS (Norway), Schneider Electric (France), Atmos International (U.K.), Xylem (U.S.), Emerson Electric Co. (U.S.), KROHNE Messtechnik GmbH (Germany), PERMA-PIPE International Holdings, Inc. (U.S.), TTK (India), PSI Software AG (Germany), MSA (U.S.), HIMA (Canada), AVEVA Group plc (U.K.), Yokogawa Electric Corporation (Japan), INFICON (Switzerland), Fotech Group Ltd. (U.K.), Asel-Tech Inc. (U.S.), MAGNUM Pirex AG / MAGNUM LEO-Pipe GmbH (Germany), Hawk Measurement Systems (Australia) and OptaSense Ltd. (U.S.)
Market Development
- In 2020, In order to offer spontaneous leak detection services to pipeline operators, Siemens Energy partnered with Houston-based ProFlex Technologies. Siemens Energy is the only party with exclusive access to ProFlex Technologies' innovative digital Pipe-Safe leak detection technology. The business has widened its product portfolio with this alliance.
- In 2020, FLIR Systems Inc. introduced FLIR GF77a, its first connected, fixed-mount, uncooled thermal camera, to detect methane and other industrial gases. The company has expanded its product line and will gain more customers with the debut of this new optical gas imaging (OGI) series product.
- In 2020, Emerson introduced the Plantweb Insight Inline Corrosion Application suite to assist the oil and gas industry to prioritise maintenance and make knowledgeable integrity decisions by delivering real-time interpretation.
Regional Analysis
Geographically, the countries covered in the leak detection market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in leak detection market in the forecast period 2022 - 2029
North America is dominating due to substantial manufacturers for the midstream sector. In terms of market revenue and market share, North America will maintain its dominance over the leak detection market throughout the forecast period. This is a result of the region's stringent leak detection laws and regulations.
Asia-Pacific is estimated to be the fastest-growing region in leak detection market in the forecast period 2022 - 2029
Asia-Pacific is expected to grow the global leak detection market due to the region's significant midstream crude oil output. Additionally, it is anticipated that the midstream segment would experience increased technical improvements, which will accelerate the market's growth rate in this area.
For more detailed information about the Leak detection market report, click here – https://www.databridgemarketresearch.com/es/reports/global-leak-detection-market
