Leak Detection And Repair Market (By Component: Equipment, Services; By Product: Handheld Gas Detectors, UAV-Based Detectors, Vehicle-based Detectors, Manned Aircraft Detectors; By Technology: Volatile Organic Compounds (VOC) Analyzer, Optical Gas Imaging (OGI), Laser Absorption Spectroscopy, Ambient/Mobile Leak Monitoring, Acoustic Leak Detection, Audio-Visual-Olfactory Inspection) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

The global leak detection and repair market size was valued at USD 17.01 billion in 2021, and is predicted to be worth around USD 27.90 billion by 2030, registering a CAGR of 4.5% during the forecast period 2022 to 2030.

Growth Factors:

The market growth can be attributed to the increasing demand for leak detection and repair (LDAR) systems among utility companies worldwide due to their benefits, such as safety improvement, cost-saving, and environmental protection. LDAR systems also help oil and gas and petroleum companies make workplaces healthier by decreasing the risk of accidents caused due to explosions and fire outbreaks. Increasing developments in natural gas and petroleum infrastructure worldwide are also expected to drive market growth.

Growing government efforts to reduce methane emissions worldwide are anticipated to accentuate market growth. For instance, the Global Methane Pledge was announced on November 2021 at COP26 in Glasgow to commit to a joint goal of lowering global methane emissions by at least 30% by 2030 as compared to the 2020 levels. This initiative emphasizes reducing methane emissions by tackling methane leaking from oil and gas pipelines, wells, and other fossil fuel infrastructure.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Leak Detection And Repair market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

By Component Analysis

On the basis of components, the global LDAR market has been bifurcated into services and equipment. The services segment dominated the market in 2021 and accounted for more than 65.0% share of the global revenue. Leaking equipment, such as pumps, valves, connectors, and compressors, are the leading sources of volatile organic compounds emissions in chemical manufacturing facilities and petroleum refineries.

The equipment segment is anticipated to register the fastest growth rate over the forecast period. The integration of enhanced technologies in LDAR equipment is expected to create a new opportunity for the growth of the segment. Equipment with multi-gas solutions, cloud connectivity, and other such features are being increasingly used by utility companies to monitor Greenhouse Gases (GHG), 

By Product Analysis

The handheld gas detectors segment dominated the market in 2021 and accounted for more than 38.0% share of the global revenue. Handheld gas detectors are increasingly in demand among oil and gas companies owing to their benefits, such as fast and reliable detection, compact and lightweight structures, and ease of use. 

On the basis of products, the global market has been divided into handheld gas detectors, UAV-based detectors, vehicle-based detectors, manned aircraft detectors. The UAV-based detectors segment is anticipated to register the fastest CAGR over the forecast period. The use of UAV-based detectors to navigate dangerous areas is one of the critical advantages of these aerial solutions, which drives the segment growth. 

By Technology Analysis

The Volatile Organic Compounds (VOCs) analyzer segment dominated the LADR market in 2021 and accounted for more than 30.0% share of the global revenue. Different gases, such as propane, N-butane, N-pentane, and N-octane, are considered under the VOC category.

The concentration of a VOC is high in an indoor environment compared to the outdoor environment. A VOC is mainly emitted from products inside a building, such as cleaning supplies, paints, glues, and printing equipment. Volatile organic compounds detectors are mainly used for the rapid and accurate detection of VOCs.

The Optical Gas Imaging (OGI) segment is expected to register the fastest CAGR over the forecast period. Optical gas imaging is a thermal imaging technology that utilizes highly sensitive infrared cameras to detect small fugitive emissions from the oil and gas industries. 

By Regional Analysis

North America dominated the market in 2021 and accounted for a market share of 53.0%. The growth of the region can be attributed to the presence of stringent government regulations and norms. The pipeline leak detection regulation of the U.S requires the installation of a leak detection system on hazardous liquid pipelines. 

The Asia Pacific regional market is expected to witness significant growth over the forecast period. The increasing demand for oil and oil products across Asia Pacific countries is expected to drive the demand for LDAR among utility companies in the region. 

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Leak Detection And Repair Market include:

• 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
• Ball Aerospace & Technologies Corp.
• Gas Ops Leak Detectives, LLC (G.O.L.D. LLC).
• Guideware Systems, LL.
• Summit Inspections Services, Inc.
• GHD, Inc.
• ERM Group, Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Market Segmentation

• By Component 
• Equipment
• Services
• By Product 
• Handheld Gas Detectors
• UAV-Based Detectors
• Vehicle-based Detectors
• Manned Aircraft Detectors
• By Technology
• Volatile Organic Compounds (VOC) Analyzer
• Optical Gas Imaging (OGI)
• Laser Absorption Spectroscopy
• Ambient/Mobile Leak Monitoring
• Acoustic Leak Detection
• Audio-Visual-Olfactory Inspection

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Leak Detection And Repair market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Leak Detection And Repair market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Leak Detection And Repair markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Leak Detection And Repair Market Study:

• Growth of Leak Detection And Repair in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Leak Detection And Repair and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Leak Detection And Repair Consumption Analysis
•  Leak Detection And Repair Production Analysis
•  Leak Detection And Repair and Management