Leak Detection Market Key Players Analysis 2031
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
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Leak Detection Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystLeak 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 Report Scope
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
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.
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Leak Detection Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Leak Detection Market - By Type
3.2.2 Leak Detection Market - By Technology
3.2.3 Leak Detection Market - By End-User
3.2.4 Leak Detection Market - By Region
3.2.4.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 Leak Detection Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
4.5 Impact Analysis
5 Leak Detection Market Analysis- Global
5.1 Global Leak Detection Market Overview
5.2 Global Leak Detection Market Forecasts and Analysis
6 Leak Detection Market Revenue and Forecasts to 2028 - Type
6.1 Overview
6.2 Type Market Forecasts and Analysis
6.3 Upstream Market
6.3.1 Overview
6.3.2 Upstream Market Forecasts and Analysis
6.4 Downstream Market
6.4.1 Overview
6.4.2 Downstream Market Forecasts and Analysis
6.5 Midstream Market
6.5.1 Overview
6.5.2 Midstream Market Forecasts and Analysis
7 Leak Detection Market Revenue and Forecasts to 2028 - Technology
7.1 Overview
7.2 Technology Market Forecasts and Analysis
7.3 Internal Leak Detection Market
7.3.1 Overview
7.3.2 Internal Leak Detection Market Forecasts and Analysis
7.3.2.1 Ultrasonic Market
7.3.2.1.1 Overview
7.3.2.1.2 Ultrasonic Market Forecasts and Analysis
7.3.2.2 Pressure Analysis Market
7.3.2.2.1 Overview
7.3.2.2.2 Pressure Analysis Market Forecasts and Analysis
7.4 External Leak Detection Market
7.4.1 Overview
7.4.2 External Leak Detection Market Forecasts and Analysis
7.4.2.1 Acoustic Emission Technology Market
7.4.2.1.1 Overview
7.4.2.1.2 Acoustic Emission Technology Market Forecasts and Analysis
7.4.2.2 Fiber-Optic Sensing Market
7.4.2.2.1 Overview
7.4.2.2.2 Fiber-Optic Sensing Market Forecasts and Analysis
7.4.2.3 Vapor Sensing Market
7.4.2.3.1 Overview
7.4.2.3.2 Vapor Sensing Market Forecasts and Analysis
7.5 Others Market
7.5.1 Overview
7.5.2 Others Market Forecasts and Analysis
8 Leak Detection Market Revenue and Forecasts to 2028 - End-User
8.1 Overview
8.2 End-User Market Forecasts and Analysis
8.3 Oil & Gas Market
8.3.1 Overview
8.3.2 Oil & Gas Market Forecasts and Analysis
8.4 Chemical Plant Market
8.4.1 Overview
8.4.2 Chemical Plant Market Forecasts and Analysis
8.5 Thermal Power Plant Market
8.5.1 Overview
8.5.2 Thermal Power Plant Market Forecasts and Analysis
8.6 Water Treatment Plant Market
8.6.1 Overview
8.6.2 Water Treatment Plant Market Forecasts and Analysis
8.7 Others Market
8.7.1 Overview
8.7.2 Others Market Forecasts and Analysis
9 Leak Detection Market Revenue and Forecasts to 2028 - Geographical Analysis
9.1 North America
9.1.1 North America Leak Detection Market Overview
9.1.2 North America Leak Detection Market Forecasts and Analysis
9.1.2.1 North America Market Forecasts and Analysis - By Countries
9.1.2.1.1 US market
9.1.2.1.2 Canada market
9.1.2.1.3 Mexico market
9.1.2.2 North America Market Forecasts and Analysis - By Type
9.1.2.3 North America Market Forecasts and Analysis - By Technology
9.1.2.4 North America Market Forecasts and Analysis - By End-User
9.2 Europe
9.2.1 Europe Leak Detection Market Overview
9.2.2 Europe Leak Detection Market Forecasts and Analysis
9.2.2.1 Europe Market Forecasts and Analysis - By Countries
9.2.2.1.1 France market
9.2.2.1.2 Germany market
9.2.2.1.3 Italy market
9.2.2.1.4 Spain market
9.2.2.1.5 UK market
9.2.2.2 Europe Market Forecasts and Analysis - By Type
9.2.2.3 Europe Market Forecasts and Analysis - By Technology
9.2.2.4 Europe Market Forecasts and Analysis - By End-User
9.3 Asia pacific (APAC)
9.3.1 Asia Pacific Leak Detection Market Overview
9.3.2 Asia Pacific Leak Detection Market Forecasts and Analysis
9.3.2.1 Asia Pacific Market Forecasts and Analysis - By Countries
9.3.2.1.1 Australia market
9.3.2.1.2 China market
9.3.2.1.3 India market
9.3.2.1.4 Japan market
9.3.2.2 Asia Pacific Market Forecasts and Analysis - By Type
9.3.2.3 Asia Pacific Market Forecasts and Analysis - By Technology
9.3.2.4 Asia Pacific Market Forecasts and Analysis - By End-User
9.4 Middle East and Africa (MEA)
9.4.1 Middle East and Africa Leak Detection Market Overview
9.4.2 Middle East and Africa Leak Detection Market Forecasts and Analysis
9.4.2.1 Middle East and Africa Market Forecasts and Analysis - By Countries
9.4.2.1.1 South Africa market
9.4.2.1.2 Saudi Arabia market
9.4.2.1.3 UAE market
9.4.2.2 Middle East and Africa Market Forecasts and Analysis - By Type
9.4.2.3 Middle East and Africa Market Forecasts and Analysis - By Technology
9.4.2.4 Middle East and Africa Market Forecasts and Analysis - By End-User
9.5 South America (SAM)
9.5.1 South America Leak Detection Market Overview
9.5.2 South America Leak Detection Market Forecasts and Analysis
9.5.2.1 South America Market Forecasts and Analysis - By Countries
9.5.2.1.1 Brazil market
9.5.2.2 South America Market Forecasts and Analysis - By Type
9.5.2.3 South America Market Forecasts and Analysis - By Technology
9.5.2.4 South America Market Forecasts and Analysis - By End-User
10 Industry Landscape
10.1 Mergers & acquisitions
10.2 Market Initiatives
10.3 New developments
10.4 Investment scenarios
11 Competitive Landscape
11.1 Competitive Product mapping
11.2 Market Positioning/ Market Share
12 Leak Detection Market, Key Company Profiles
12.1 Honeywell International Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 Pentair Plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 SWOT Analysis
12.2.5 Key Developments
12.3 Siemens AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 Flir Systems, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 SWOT Analysis
12.4.5 Key Developments
12.5 Schneider Electric SE.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 SWOT Analysis
12.5.5 Key Developments
12.6 Pure Technologies Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 SWOT Analysis
12.6.5 Key Developments
12.7 Atmos International Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 SWOT Analysis
12.7.5 Key Developments
12.8 ClampOn AS.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 EnergySolutions
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 SWOT Analysis
12.9.5 Key Developments
12.10 KROHNE Messtechnik GmbH
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 SWOT Analysis
12.10.5 Key Developments
13 Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
13.3 Research Methodology
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.