Leak Detection - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Leak Detection Market accounted for $2.72 billion in 2018 and is expected to reach $5.86 billion by 2027 growing at a CAGR of 8.9% during the forecast period. Rising number of leakage at oil & gas production, construction of new pipelines, and government policies for safety & security of pipelines are the factors driving the market growth. However, limitations in feasibility may hinder the market growth.
Leak detection is a system that can detect leakage in oil & gas pipelines and pass on information to controllers. These systems increase efficiency, security, and consistency of oil & gas pipelines by dropping inspection time and downtime. It gives information in the form of alarm or others to aid controllers in taking decision and appropriate action.
By Product, Portable segment is expected to expand at the highest growth in the forecast period owing to its low cost and ease of handling. Based on geography, North America is going to have a lucrative growth during the forecast period due to the increasing number of pipeline projects in the U.S. and Canada. Moreover, government regulations to implement leak detection systems in oil and gas pipelines are fueling the market growth in North America.
Some of the key players profiled in the Leak Detection Market include Schneider Electric Se, Siemens AG, Honeywell International Inc, Clampon AS, Bridger Photonics Inc, Pure Technologies Ltd, Atmos International, PSI AG, Perma-Pipe Inc, Sensit Technologies LLC, Flir Systems Inc, Pentair PLC, TTK-Leak Detection System, Synodon Inc, and Krohne Messtechnik GmbH.
• Oil & Condensate
• Natural Gas
• Oil & Condensate
• Natural Gas
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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