The leak detection market is expected to register a CAGR of 6.8% during 2023–2031. Evolving Internet of Things technology and advancements in remote monitoring are likely to remain a key trend in the market.
Leak Detection Market Analysis
- The market has undergone collaborations and technological advancements leading to methane leak detection technology for aerial detection of natural gas emissions. The expansion of the Internet of Things (IoT) and remote monitoring, along with the development of smart cities, are anticipated to further boost the leak detection market growth projections.
- Other driving factors for the market include growth in the oil and gas sector, government regulations, and demand for appropriate leak detection techniques to avoid disasters and accidents. It will gain enormous growth through technological integration, expansion in geographical regions, and innovation in the solution offering category to meet the growing demand from various industries.
Leak Detection Market Overview
- Leak detection means the identification and location of possible leaks within a system, which could be pipelines, vessels, or any other fluid systems. It may involve different methods and technologies, including field instrumentation, for the monitoring of internal pipeline parameters that would allow the detection of possible leakage based on flow, pressure, and temperature of fluid.
- Further, leak detection can be conducted using various technologies such as infrared radiometric testing, thermal cameras, fiber-optic cables, and acoustic pressure waves to detect the presence and the exact points where leaks may be taking place. Any form of leak detection merely pursues the integrity, safety, and reliability of a system through prompt identification and redressal of any leak occurring in the system, whether it is liquid or gas.
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Leak Detection Market: Strategic Insights
Leak Detection Market
-
Market Size 2023
US$ XX Million
-
Market Size 2031
US$ XX Million
Market Dynamics
GROWTH DRIVERS
- Increasing Need for Advanced Leak Detection Solutions in Aging Infrastructure
FUTURE TRENDS
- Evolving Internet of Things Technology and Advancements of Remote Monitoring
OPPORTUNITIES
- Development of Smart Cities
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Technology
- Pressure-Flow Deviation Methods
- Mass/Volume Balance
- Thermal Imaging
- Acoustic/Ultrasonic
- Fiber Optic
End User
- Oil and Gas
- Chemical Plants
- Water Treatment Plants
- Thermal Power Plants
- Mining and Slurry
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
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You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Leak Detection Market: Strategic Insights
-
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Market Dynamics
- Increasing Need for Advanced Leak Detection Solutions in Aging Infrastructure
- Evolving Internet of Things Technology and Advancements of Remote Monitoring
- Development of Smart Cities
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Pressure-Flow Deviation Methods
- Mass/Volume Balance
- Thermal Imaging
- Acoustic/Ultrasonic
- Fiber Optic
- Oil and Gas
- Chemical Plants
- Water Treatment Plants
- Thermal Power Plants
- Mining and Slurry
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Leak Detection Market Drivers and Opportunities
Increasing Need for Advanced Leak Detection Solutions in Aging Infrastructure
- The growing demand for LDAR systems from utility companies has become one of the major growth drivers for the leak detection market. This is a crucial trend in the utility industry since innovative methods for leak detection are imperative to maintaining integrity and safety with very complex regulations for such vital infrastructure.
- As utility companies give priority to the maintenance and reliability of their infrastructure, so will the need for advanced leak detection technologies to grow the leak detection market.
Evolving Internet of Things Technology and Advancements of Remote Monitoring
- Evolving Internet of Things technology and advancements in remote monitoring capability create major opportunities within the leak detection market through real-time detection and proactive maintenance strategies. When companies include IoT sensors on pipelines, tanks, and other critical infrastructure, they are in a position to identify leaks and issues promptly enough to take action before they become serious problems and cause environmental harm or operational disruptions.
- Further, companies such as IBM have been at the forefront of developing IoT-based solutions for leak detection. For instance, IBM's Watson IoT platform utilizes artificial intelligence and sensor data to identify in real-time any anomalies in water distribution systems. This technology, along with proactive monitoring, ensures much greater operational efficiency and underlines the possibility of transformative change within the leak detection market.
Leak Detection Market Segmentation
Key segments that contributed to the derivation of the leak detection market analysis are technology and end users.
- By technology, the market is divided into pressure-flow deviation methods, mass/volume balance, thermal imaging, acoustic/ultrasonic, fiber optic, and others.
- In terms of end users, the market is segmented into oil and gas, chemical plants, water treatment plants, thermal power plants, mining and slurry, and others.
Leak Detection Market Share Analysis by Geography
- The leak detection market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering mechanical keyboards market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the leak detection market in these regions.
Leak Detection Market Market Report Scope
Report Attribute
Details
Market size in 2023
US$ XX Million
Market Size by 2031
US$ XX Million
Global CAGR (2024 - 2031)
6.8%
Historical Data
2021-2022
Forecast period
2024-2031
Segments Covered
By Technology - Pressure-Flow Deviation Methods
- Mass/Volume Balance
- Thermal Imaging
- Acoustic/Ultrasonic
- Fiber Optic
By End User - Oil and Gas
- Chemical Plants
- Water Treatment Plants
- Thermal Power Plants
- Mining and Slurry
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
Schneider Electric SE. Pentair PLC Siemens AG FLIR Systems Inc. Perma-Pipe International Holdings, Inc. Pure Technologies Ltd. Sensit Technologies LLC Emerson Electric Co. Honeywell International Inc. Bridger Photonics, Inc.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ XX Million |
Market Size by 2031 | US$ XX Million |
Global CAGR (2024 - 2031) | 6.8% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Technology
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Leak Detection Market News and Recent Developments
The leak detection market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the leak detection market are listed below:
- HSB, part of Munich Re, is expanding its suite of Internet of Things (IoT) water leak detection solutions, the company announced today, offering access to WINT Water Intelligence systems for construction, commercial, and industrial locations. The WINT solution, including a performance warranty for builders’ risk, in partnership with HSB, helps mitigate property damage and conserves water. The solution represents a strong value proposition for contractors, developers, and the owners of large residential, hospitality, and other commercial facilities during construction and while in operation.
(Source: HSB, Company Website, June 2024)
- ATEQ has unveiled its latest innovation, the Smoketeq® UV. This state-of-the-art leak detection and localization device represents a significant leap in our industry, setting new standards for efficiency and accuracy. The Smoketeq® UV, the core instrument of this new offering, employs a groundbreaking UV smoke method to detect leaks. This innovative technique significantly enhances leak visibility, enabling faster and more accurate identification. To complement this advanced instrument, ATEQ has developed Fluoteq® UV, a specially formulated liquid solution. When used with the Smoketeq® UV, Fluoteq® UV generates the necessary UV smoke, integral to the leak detection process. Both the Smoketeq® UV device and the Fluoteq® UV solution are trademarked in the United States, highlighting ATEQ’s commitment to pioneering new solutions in leak detection technology.
(Source: ATEQ, Company Website, June 2024)
Leak Detection Market Report Coverage and Deliverables
The "Leak Detection Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Leak detection market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Leak detection market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Leak detection market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the leak detection market
- Detailed company profiles
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Global leak detection market is expected to grow at a CAGR of 6.8% during the forecast period 2023 - 2031.
The growing focus on real-time monitoring and early disease detection is the major factor driving the leak detection market.
Evolving Internet of Things technology and advancements in remote monitoring are likely to remain a key trend in the market.
The leading players operating in the market are Schneider Electric SE., Pentair PLC, Siemens AG, FLIR Systems Inc., Perma-Pipe International Holdings, Inc., Pure Technologies Ltd., Sensit Technologies LLC, Emerson Electric Co., Honeywell International Inc., and Bridger Photonics, Inc.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
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The List of Companies
1. Honeywell International Inc.
2. Pentair Plc
3. Siemens AG
4. Flir Systems, Inc.
5. Schneider Electric SE.
6. Pure Technologies Ltd.
7. Atmos International Ltd
8. ClampOn AS.
9. EnergySolutions
10. KROHNE Messtechnik GmbH