Leak Detection Market size was valued at US$ 2.62 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 7.9% through 2024 to 2030, reaching nearly US$ 4.47 Bn.Leak Detection Market Overview:
Leak Detection Market is expected to reach US$ 4.15 Bn. by 2029. Leak detection is a technique for determining the presence of a leak within a system. The techniques are used in a variety of applications where a container must seal in some sort of material. Water flow is monitored using either a mechanical turbine or ultrasonic frequencies in leak detection devices. These leak detection devices track the flow of water by counting the gallonage passing through the sensor or recording the time delay sonically.To know about the Research Methodology :- Request Free Sample Report
Leak Detection Market Dynamics:
Leak Detection market's growth can be ascribed to an increase in demand for leak detection and repair (LDAR) systems among utility companies throughout the world, owing to its benefits, which include increased safety, cost savings, and environmental protection. LDAR systems also assist oil and gas and petroleum industries in making their workplaces safer by reducing the risk of explosions and fire outbreaks. Market growth is also expected to be driven by increased advances in natural gas and petroleum infrastructure around the world. To detect leaks in their infrastructure more efficiently, many gas emission monitoring firms utilise machine learning and Artificial Intelligence (AI). Using satellite pictures, a machine learning algorithm detects leaks and emission problems on the ground. Machine learning data enables operators to discover trends and patterns across time, allowing them to make data-driven decisions. As a result, a number of oil and gas corporations are attempting to replace their older LDAR systems with more technologically advanced LDAR systems. Various venture capital firms are investing in start-ups that provide AI-based LDAR solutions, resulting in new market growth potential. SCF Ventures, for example, a venture capital firm focusing on giving funding to entrepreneurs in the energy services sector, announced its investment in Qube Technologies, a continuous pollution monitoring technology provider, in November 2022. Oil and gas operators can use Qube Technologies' continuous emission monitoring equipment to better detect, decrease, and measure methane emissions. Qube Technologies will use the funds to speed up the deployment of continuous monitoring systems, allowing industry to reduce emissions even more. Governments' increased attention on the construction of renewable energy generation projects is expected to hamper the leak detection market growth during the forecast period. Due to the discovery of various oil and gas deposits around the world in recent years, a slew of new oil and gas exploration projects have been launched to meet the world's growing need for oil and gas. Due to this factor, the need for monitoring oil and gas facilities has grown, as has the demand for leak detection systems. Neptune Energy, for example, announced the first gas production from the Adorf Carboniferous development in northwestern Germany in November 2022. In February 2022, the well reached a final depth of 3,500 metres. At the site, a sophisticated processing plant for natural gas treatment has been built. During the forecast period, such oil and gas exploration and production activities are expected to drive the growth of the leak detection market for oil and gas.Leak Detection Market Segment Analysis:
By End User Industry, oil and gas segment has the largest market share in 2023. The oil and gas sector is a major driver of the leak detection market because of the need to reduce environmental impact and product loss. Leak detection systems are important for preventing catastrophic leaks that can have financial and operational consequences. The demand for leak detection in this segment is high due to the need to ensure safety, prevent environmental damage, and comply with regulations. Minimizing leaks is essential to prevent catastrophic events that could endanger human lives, cause environmental damage, and lead to financial losses. Leak detection in the oil and gas industry has applications in upstream, midstream, and downstream processes. Upstream processes include early detection of leaks which is critical to minimize environmental risks. Midstream processes include reliable leak detection systems that are needed to protect infrastructure while transporting crude oil and gas. Further downstream processes include refining and distribution leak detection that is essential to protect facilities and maintain product quality.Leak Detection Market Regional Insights:
Asia Pacific region is expected to dominate the Leak Detection Market during the forecast period 2024-2030. Asia Pacific region is expected to hold the largest market share of xx% by 2030. The growing global demand for natural gas is the key factor for the market's growth in this region. Natural gas output in APAC climbed to 888 billion cubic metres (bcm) in 2022 from 850 billion cubic metres (bcm) in 2022, according to British Petroleum. From 2008 to 2022, China's oil and gas production climbed by 7.2 percent, as the country develops and upgrades its pipeline infrastructure and attracts investments in natural gas production projects. As a result, China's demand for leak detection technologies and systems is growing in tandem with the country's increased natural gas production and consumption. The growth of the oil and gas leak detection market in the Asia Pacific region is expected to be driven by an increase in the number of oil and gas exploration and production projects, as well as the growth of oil and gas pipelines. The objective of the report is to present a comprehensive analysis of the Global Leak Detection 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 reports also help in understanding the Global Leak Detection Market dynamic, structure by analyzing the market segments and projecting the Global Leak Detection Market size. Clear representation of competitive analysis of key players by Technique, price, financial position, product portfolio, growth strategies, and regional presence in the Leak Detection Market make the report investor’s guide.Leak Detection Market Scope: Inquiry Before Buying
Global Leak Detection Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: USD 2.62 Bn. Forecast Period 2024 to 2030 CAGR: 7.9% Market Size in 2030: USD 4.47 Bn. Segments Covered: by Technology Acoustic/Ultrasonic E-RTTM Fiber Optic Mass/Volume Balance Thermal Imaging Laser Absorption and LiDAR Vapor Sensing by Product Type Handheld Gas Detectors UAV-Based Detectors Vehicle-Based Detectors by End User Industry Oil & Gas Chemical Water treatment Power Generation Other Leak Detection Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Leak Detection Market, Key Players
1. FLIR Systems, Inc. 2. ABB 3. Honeywell International Inc. 4. Siemens Energy 5. Pentair 6. ClampOn AS 7. Schneider Electric 8. Atmos International 9. Xylem 10. Emerson Electric Co. 11. KROHNE Messtechnik GmbH 12. PERMA-PIPE International Holdings, Inc. 13. TTK 14. PSI Software AG 15. MSA 16. HIMA 17. AVEVA Group plc 18. Yokogawa Electric Corporation 19. INFICON 20. Fotech Group Ltd. 21. Asel-Tech Inc. 22. Other Key Players Frequently Asked Questions: 1] Which region is expected to held the highest share in the Leak Detection Market? Ans. Asia Pacific is expected to hold the highest share in the Leak Detection Market. 2] Who are the top key players in the Leak Detection Market? Ans. FLIR Systems, Inc., ABB, Honeywell International Inc., Siemens Energy, Pentair, and ClampOn AS are the top key players in the Leak Detection Market. 3] Which segment is expected to hold the largest market share in the Leak Detection Market by 2030? Ans. E-RTTM technology segment is expected to hold the largest market share in the Leak Detection Market by 2030. 4] What is the market size of the Leak Detection Market by 2030? Ans. The market size of the Leak Detection Market is expected to reach US $ 4.47 Bn. by 2030. 5] What was the market size of the Leak Detection Market in 2023? Ans. The market size of the Leak Detection Market was worth US $ 2.62 Bn. in 2023.
1. Leak Detection Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 1.3.1. Market Size (2023) & Forecast (2024-2030), and Y-O-Y (%) 1.3.2. Market Size (USD Million) and Market Share (%) - By Segments, Regions and Country 2. Leak Detection Market: Competitive Landscape 2.1. MMR Competition Matrix 2.2. Competitive Landscape 2.3. Key Players Benchmarking 2.3.1. Company Name 2.3.2. Product Segment 2.3.3. End-User Segment 2.3.4. Revenue USD Million (2023) 2.3.5. Headquarter 2.4. Market Structure 2.4.1. Market Leaders 2.4.2. Market Followers 2.4.3. Emerging Players 2.5. Mergers and Acquisitions Details 3. Leak Detection Market: Dynamics 3.1. Leak Detection Market Trends by Region 3.1.1. North America 3.1.2. Europe 3.1.3. Asia Pacific 3.1.4. Middle East and Africa 3.1.5. South America 3.2. Leak Detection Market Dynamics 3.2.1. Drivers 3.2.2. Restraints 3.2.3. Opportunities 3.2.4. Challenges 3.3. PORTER’s Five Forces Analysis 3.4. PESTLE Analysis 3.5. Technology Roadmap 3.6. Value Chain Analysis 3.7. Regulatory Landscape by Region 3.7.1. North America 3.7.2. Europe 3.7.3. Asia Pacific 3.7.4. Middle East and Africa 3.7.5. South America 3.8. Key Opinion Leader Analysis for the Global Leak Detection Industry 3.9. Analysis of Government Schemes and Initiatives on the Global Leak Detection Industry 4. Leak Detection Market: Global Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 4.1. Global Leak Detection Market Size and Forecast, by Technology (2023-2030) 4.1.1. Acoustic/Ultrasonic 4.1.2. E-RTTM 4.1.3. Fiber Optic 4.1.4. Mass/Volume Balance 4.1.5. Thermal Imaging 4.1.6. Laser Absorption and LiDAR 4.1.7. Vapor Sensing 4.2. Global Leak Detection Market Size and Forecast, by Product Type (2023-2030) 4.2.1. Handheld Gas Detectors 4.2.2. UAV-Based Detectors 4.2.3. Vehicle-Based Detectors 4.3. Global Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 4.3.1. Oil & Gas 4.3.2. Chemical 4.3.3. Water treatment 4.3.4. Power Generation 4.3.5. Other 4.4. Global Leak Detection Market Size and Forecast, by Region (2023-2030) 4.4.1. North America 4.4.2. Europe 4.4.3. Asia Pacific 4.4.4. Middle East and Africa 4.4.5. South America 5. North America Leak Detection Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 5.1. North America Leak Detection Market Size and Forecast, by Technology (2023-2030) 5.1.1. Acoustic/Ultrasonic 5.1.2. E-RTTM 5.1.3. Fiber Optic 5.1.4. Mass/Volume Balance 5.1.5. Thermal Imaging 5.1.6. Laser Absorption and LiDAR 5.1.7. Vapor Sensing 5.2. North America Leak Detection Market Size and Forecast, by Product Type (2023-2030) 5.2.1. Handheld Gas Detectors 5.2.2. UAV-Based Detectors 5.2.3. Vehicle-Based Detectors 5.3. North America Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 5.3.1. Oil & Gas 5.3.2. Chemical 5.3.3. Water treatment 5.3.4. Power Generation 5.3.5. Other 5.4. North America Leak Detection Market Size and Forecast, by Country (2023-2030) 5.4.1. United States 5.4.1.1. United States Leak Detection Market Size and Forecast, by Technology (2023-2030) 5.4.1.2. United States Leak Detection Market Size and Forecast, by Product Type (2023-2030) 5.4.1.3. United States Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 5.4.2. Canada 5.4.2.1. Canada Leak Detection Market Size and Forecast, by Technology (2023-2030) 5.4.2.2. Canada Leak Detection Market Size and Forecast, by Product Type (2023-2030) 5.4.2.3. Canada Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 5.4.3. Mexico 5.4.3.1. Mexico Leak Detection Market Size and Forecast, by Technology (2023-2030) 5.4.3.2. Mexico Leak Detection Market Size and Forecast, by Product Type (2023-2030) 5.4.3.3. Mexico Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6. Europe Leak Detection Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 6.1. Europe Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.1.1. Acoustic/Ultrasonic 6.1.2. E-RTTM 6.1.3. Fiber Optic 6.1.4. Mass/Volume Balance 6.1.5. Thermal Imaging 6.1.6. Laser Absorption and LIDAR 6.1.7. Vapor Sensing 6.2. Europe Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.2.1. Handheld Gas Detectors 6.2.2. UAV-Based Detectors 6.2.3. Vehicle-Based Detectors 6.3. Europe Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.3.1. Oil & Gas 6.3.2. Chemical 6.3.3. Water treatment 6.3.4. Power Generation 6.3.5. Other 6.4. Europe Leak Detection Market Size and Forecast, by Country (2023-2030) 6.4.1. United Kingdom 6.4.1.1. United Kingdom Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.1.2. United Kingdom Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.4.1.3. United Kingdom Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.2. France 6.4.2.1. France Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.2.2. France Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.3. Germany 6.4.3.1. Germany Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.3.2. Germany Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.4.3.3. Germany Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.4. Italy 6.4.4.1. Italy Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.4.2. Italy Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.5. Spain 6.4.5.1. Spain Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.5.2. Spain Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.4.5.3. Spain Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.6. Sweden 6.4.6.1. Sweden Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.6.2. Sweden Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.4.6.3. Sweden Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.7. Russia 6.4.7.1. Russia Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.7.2. Russia Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.4.7.3. Russia Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 6.4.8. Rest of Europe 6.4.8.1. Rest of Europe Leak Detection Market Size and Forecast, by Technology (2023-2030) 6.4.8.2. Rest of Europe Leak Detection Market Size and Forecast, by Product Type (2023-2030) 6.4.8.3. Rest of Europe Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7. Asia Pacific Leak Detection Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 7.1. Asia Pacific Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.2. Asia Pacific Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.3. Asia Pacific Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4. Asia Pacific Leak Detection Market Size and Forecast, by Country (2023-2030) 7.4.1. China 7.4.1.1. China Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.1.2. China Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.1.3. China Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.2. South Korea 7.4.2.1. South Korea Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.2.2. South Korea Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.2.3. South Korea Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.3. Japan 7.4.3.1. Japan Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.3.2. Japan Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.3.3. Japan Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.4. India 7.4.4.1. India Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.4.2. India Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.4.3. India Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.5. Australia 7.4.5.1. Australia Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.5.2. Australia Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.5.3. Australia Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.6. Indonesia 7.4.6.1. Indonesia Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.6.2. Indonesia Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.6.3. Indonesia Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.7. Malaysia 7.4.7.1. Malaysia Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.7.2. Malaysia Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.7.3. Malaysia Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.8. Vietnam 7.4.8.1. Vietnam Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.9. Taiwan 7.4.9.1. Taiwan Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.9.2. Taiwan Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 7.4.10. Rest of Asia Pacific 7.4.10.1. Rest of Asia Pacific Leak Detection Market Size and Forecast, by Technology (2023-2030) 7.4.10.2. Rest of Asia Pacific Leak Detection Market Size and Forecast, by Product Type (2023-2030) 7.4.10.3. Rest of Asia Pacific Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 8. Middle East and Africa Leak Detection Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 8.1. Middle East and Africa Leak Detection Market Size and Forecast, by Technology (2023-2030) 8.2. Middle East and Africa Leak Detection Market Size and Forecast, by Product Type (2023-2030) 8.3. Middle East and Africa Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 8.4. Middle East and Africa Leak Detection Market Size and Forecast, by Country (2023-2030) 8.4.1. South Africa 8.4.1.1. South Africa Leak Detection Market Size and Forecast, by Technology (2023-2030) 8.4.1.2. South Africa Leak Detection Market Size and Forecast, by Product Type (2023-2030) 8.4.1.3. South Africa Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 8.4.2. GCC 8.4.2.1. GCC Leak Detection Market Size and Forecast, by Technology (2023-2030) 8.4.2.2. GCC Leak Detection Market Size and Forecast, by Product Type (2023-2030) 8.4.2.3. GCC Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 8.4.3. Nigeria 8.4.3.1. Nigeria Leak Detection Market Size and Forecast, by Technology (2023-2030) 8.4.3.2. Nigeria Leak Detection Market Size and Forecast, by Product Type (2023-2030) 8.4.3.3. Nigeria Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 8.4.4. Rest of Middle East & Africa 8.4.4.1. Rest of ME&A Leak Detection Market Size and Forecast, by Technology (2023-2030) 8.4.4.2. Rest of ME&A Leak Detection Market Size and Forecast, by Product Type (2023-2030) 8.4.4.3. Rest of ME&A Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 9. South America Leak Detection Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 9.1. South America Leak Detection Market Size and Forecast, by Technology (2023-2030) 9.2. South America Leak Detection Market Size and Forecast, by Product Type (2023-2030) 9.3. South America Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 9.4. South America Leak Detection Market Size and Forecast, by Country (2023-2030) 9.4.1. Brazil 9.4.1.1. Brazil Leak Detection Market Size and Forecast, by Technology (2023-2030) 9.4.1.2. Brazil Leak Detection Market Size and Forecast, by Product Type (2023-2030) 9.4.1.3. Brazil Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 9.4.2. Argentina 9.4.2.1. Argentina Leak Detection Market Size and Forecast, by Technology (2023-2030) 9.4.2.2. Argentina Leak Detection Market Size and Forecast, by Product Type (2023-2030) 9.4.2.3. Argentina Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 9.4.3. Rest of South America 9.4.3.1. Rest of South America Leak Detection Market Size and Forecast, by Technology (2023-2030) 9.4.3.2. Rest of South America Leak Detection Market Size and Forecast, by Product Type (2023-2030) 9.4.3.3. Rest Of South America Leak Detection Market Size and Forecast, By End-User Industry (2023-2030) 10. Company Profile: Key Players 10.1. FLIR Systems, Inc. 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Recent Developments 10.2. ABB 10.3. Honeywell International Inc. 10.4. Siemens Energy 10.5. Pentair 10.6. ClampOn AS 10.7. Schneider Electric 10.8. Atmos International 10.9. Xylem 10.10. Emerson Electric Co. 10.11. KROHNE Messtechnik GmbH 10.12. PERMA-PIPE International Holdings, Inc. 10.13. TTK 10.14. PSI Software AG 10.15. MSA 10.16. HIMA 10.17. AVEVA Group plc 10.18. Yokogawa Electric Corporation 10.19. INFICON 10.20. Fotech Group Ltd. 10.21. Asel-Tech Inc. 11. Key Findings 12. Industry Recommendations 13. Leak Detection Market: Research Methodology