Leak Detection and Repair Market- Global Industry Analysis and Forecast (2023-2029)

Leak Detection and Repair Market is expected to reach US$ 25.99 Bn. by 2029, at a CAGR of 3.99% during the forecast period.

2022 is considered as a base year to forecast the market from 2022 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysed especially with the impact of lockdown by region.To know about the Research Methodology :- Request Free Sample Report
Leak Detection and Repair Market Overview:
The Leak Detection and Repair market is mostly made up of equipment that helps in the control of harmful air pollutants. It helps in the reduction of harmful chemical compounds emissions into the atmosphere from chemical production and petroleum refineries. Detection systems are in great demand due to increased hazards in oil operations and offshore oil infrastructure. For instance, Neptune Energy announced gas production from Adorf Carboniferous in Germany in February 2022. The leak detection and repair (LDAR) market is a system for repairing leaking components such as pumps, connectors, valves, agitators, and compressors to reduce hazardous air pollutants (HAPs) and volatile organic compounds (VOCs) emissions.
Leak Detection and Repair Market Dynamics:
LDAR systems have three main objectives: cost savings, worker and community safety, and environmental conservation. Petroleum refineries have reduced their emissions by 63%, while chemical plants have reduced VOC emissions by 56 %, thanks to the use of leak detection and repair systems.

A leak detection and repair system saves USD 730,000 per year, according to figures provided by the Environmental Protection Agency. As a result, the demand for leak detection and repair has surged in recent days as a result of the desire to reduce dangerous gas leaks. Gas leak detection systems are in high demand in the industrial food processing and HVAC industries. People nearby suffer from health problems as a result of extended exposure to ammonia, which is used as a refrigerant in food packaging. CO2 is dangerous to human health if it is present in high concentrations, according to Bacharach, a Pennsylvania-based solution firm.

According to the US Pipeline and Hazardous Materials Safety Administration (PHMSA), significant pipeline leaks generated approximately USD 7.7 billion in losses between January 2005 and June 2022. Approximately 83% of these losses were compensated by the industry, while the remaining 17% were covered by the general public. According to the Environmental Protection Agency (EPA), leaks result in the loss of 1.4% of natural gas produced. In 2022, the gas loss totalled approximately 471,000 mmcf, with the city gate price of gas at USD 3.80/mcf, resulting in a loss of USD 1.8 billion.

Though the demand for leak detection systems has grown in recent years, retrofitting issues with some leak detection systems, such as distributed temperature sensing (DTS) and distributed acoustic sensing (DAS) systems based on fiber optics, are restricting the market's growth. Fibre-optic leak detection systems are difficult and expensive to adapt to existing pipelines. Longer pipelines (> 50km) require many interrogator units, which raises sensor and interrogator system installation costs.

Continuous operations and rapid leak detection are required for the preferred subsea leak detection systems. They should be affordable, irrespective of flow conditions, and easily constructed and installed. However, the majority of leak detection methods available are not totally adequate for arctic environments. Some of these technologies are unable to offer information on the identity, location, and quantification and classification of leakages (small, medium, and large leakages). Oil and gas pipeline systems are typically dispersed across a vast geographic area and are managed by a command and control center using a variety of communication methods. The need to improve the performance of these centers and leakage detection systems that provide a better understanding of leaks and their characteristics are growing.
Leak Detection and Repair Market Segment Analysis:
The market segment of the Leak Detection and Repair Market varies from different sectors by product, technology, and region.

Based on product, the market is divided into four types of products: Handheld gas detectors, UAV-based detectors, vehicle-based detectors, and Manned aircraft detectors.

In 2022, the handheld gas detector segment dominated the market, accounting for about 37.0% of the market. Because of their cost-effectiveness and portability, handheld gas detectors are used to check for gas leaks. Different gases, such as methane, carbon dioxide, ammonia, and methane, are detected with these detectors. The need for handheld gas detectors in the oil and gas industry is expanding due to rising natural gas output and increased trading of oil and gas products.

Over the forecast period, the vehicle-based detector segment is expected to increase at a rapid rate. Car-based detectors are put on the vehicle tops to search for gas leaks in the surrounding region. These detectors work in both driving and parking situations. Furthermore, vehicle-based detectors feature a built-in GPS receiver that properly captures leak locations. All of these factors contribute to the segment's growth.

Based on technology, the market is bifurcated into, volatile organic compound (VOC) analyser, Optical gas imaging (OGI), laser absorption spectroscopy, mobile leak monitoring, acoustic leak detection.

In 2022, the market for Volatile Organic Compounds (VOC) Analysers will dominate, accounting for more than 30.0 % of revenue. The volatile organic compound group encompasses gases such as propane, N-butane, N-pentane, and N-octane. In comparison to the outdoor environment, the concentration of a VOC is higher inside. Cleaning materials, paints, glues, and printing equipment are all examples of VOCs that are emitted inside a building. VOC detectors are primarily used to detect volatile organic compounds quickly and accurately.

Over the forecast period, the optical gas imaging segment is expected to increase at the fastest rate. Optical gas imaging is a thermal imaging technique that detects small particulate matter from the oil and gas industries using highly sensitive infrared cameras. In industries such as pulp and paper, petrochemical, natural gas processing plants, and power generation plants, optical gas imaging detectors are in high demand. These detectors are used to detect gas leaks from a safe distance, reducing environmental and personnel concerns.
Leak Detection and Repair Market Regional Insights:
North America dominated the leak detection and repair market in 2022, with 53.0 %. The presence of strict government laws and norms can be credited to the region's progress. On hazardous liquid pipelines, the United States' pipeline leak detection rule mandates the installation of a leak detection system. The United States government's backing for the oil and gas industry is also propelling the country's industrial development. As the oil and gas sector expands in the United States, so does the demand for leak detection and repair equipment. Furthermore, government subsidies to the oil and gas industries are fuelling regional market expansion.

Over the forecast period, the Asia Pacific region is expected to increase significantly. The expanding global demand for natural gas is driving the region's need for leak detection and repair solutions. As natural gas output climbs in countries like China, leak detection and repair technologies are becoming more crucial. As a result, increased oil and gas production, as well as the construction of oil and gas pipelines, are two major drivers of market expansion in the region.

The objective of the report is to present a comprehensive analysis of the Leak Detection and Repair Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Leak Detection and Repair Market dynamics, structure by analyzing the market segments and projects the Leak Detection and Repair Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Leak Detection and Repair Market make the report investor’s guide.
Leak Detection and Repair Market Scope: Inquire before buying



Leak Detection and Repair Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
3.99%
US$ 19.76 Bn
US$ 25.99 Bn


Segments Covered


by Product
Handheld gas detector
UAV based detector
vehicle based detector
Manned aircraft detector
by Technology
volatile organic compound (VOC) analyzer
Optical gas imaging (OGI)
laser absorption spectroscopy
mobile leak monitoring
Acoustic leak detection.
by Component
Equipment
Services


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Leak Detection and Repair Market key Player
1.Aeris Technologies, Inc.
2.IBM Thomas J. Watson Research Center
3.Bridger Photonics, Inc.
4.LI-COR, Inc.
5.Duke University
6.Colorado State University
7.Palo Alto Research Center
8.Maxion Technologies Inc.
9.Rebellion Photonics
10.Physical Sciences Inc.
11.Avitas Systems
12.PrecisionHawk
13.SeekOps, Inc.
14.Advisian
15.Ball Aerospace

Frequently Asked Questions:

1. Which region has the largest share in Global Leak Detection and Repair Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Leak Detection and Repair Market?
Ans: The Global Leak Detection and Repair Market is growing at a CAGR of 3.99% during forecasting period 2023-2029.

3. What is scope of the Global Leak Detection and Repair market report?
Ans: Global Leak Detection and Repair Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Leak Detection and Repair market?
Ans: The important key players in the Global Leak Detection and Repair Market are – Aeris Technologies, Inc., IBM Thomas J. Watson Research Center, Bridger Photonics, Inc., LI-COR, Inc., Duke University, Colorado State University, Palo Alto Research Center, Maxion Technologies Inc., Rebellion Photonics, Physical Sciences Inc., Avitas Systems, PrecisionHawk, SeekOps, Inc., Advisian, and Ball Aerospace

5. What is the study period of this market?
Ans: The Global Leak Detection and Repair Market is studied from 2022 to 2029.