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Leak Detection and Repair Market: Current Analysis and Forecast (2021-2027)

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Leak detection and repair is a work practice that is designed to identify leaking equipment so that emissions can be reduced through repairs. A rise in the demand for operational and safety efficiency among companies, coupled with the increase in the incidents of oil and gas leakages in pipelines and storage tanks at production facilities are some of the prominent factors which are leading to the market growth. As per EPA, approximately 70,367 tons per year of VOCs and 9,357 tons per year of HAPs have been emitted from equipment leaks.

The global oil and gas exploration and production sector make up a large portion of the global economy, and the growth of this industry is only expected to increase in the future. Leaks of oil and gas are most common in the upstream, midstream, and downstream stages. Globally, oil and gas exploration and production operations have increased as a result of expanding global oil and gas consumption. It is forecasted that OPEC crude oil production will average 32.11 million b/d in 2021 and 34.15 million b/d in 2022. According to the US Pipeline and Hazardous Materials Safety Administration (PHMSA), pipeline leaks generated approximately USD7.7 billion in losses between January 2005 and June 2020. Approximately 83% of these losses were compensated by the industry, while the remaining 17% were covered by the general public.

A rise in the adoption of the natural gas-based power plant is a crucial factor accelerating the market growth. As per IEA, In contrast to coal, global natural gas power plant capacity continued to expand in 2020, with over 40 GW of new capacity expected to be commissioned, primarily driven by the Middle East, the United States, and China. Also, the government's emphasis on green energy couped with the regulation by Environmental Protection to prevent the leakage of dangerous gases and liquid from different industries. are some of the prominent factors that would contribute to the growth of the leak detection and repair market in the forthcoming years. In March 2021, the U.K. government announced that it was investing about USD 105.7 million in next-generation green technologies. This funding is part of the government's USD 1.17 billion Net Zero Innovation Portfolio. In addition, the government also launched three new innovative challenges across areas of the green energy sector, such as floating offshore wind energy, biomass production, and energy storage technology.

Based on components, the market is fragmented into Service and equipment. The service segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The rising number of oil and gas, industrial facilities across the globe results in a greater demand for the services. However, the equipment segment would witness the highest CAGR in the forthcoming years.

Based on the product, the market is fragmented into handheld gas detectors, UAV-based detectors, vehicle-based detectors, and manned aircraft detectors. the handheld gas detectors segment grabbed xx% market share and captured USD XX Mn market in 2020 wing to the benefits it offers such as fast and reliable detection, compact and lightweight structures, and ease of use. however, the UAV-based detector segment would witness a robust CAGR during the forthcoming years.

Based on the technology, the market is fragmented into volatile organic compounds analyzer, optical gas imaging, laser absorption, spectroscopy, ambient/mobile leak monitoring, and others. The volatile organic compounds analyzer segment grabbed XX% market share and captured USD XX Mn market in 2020.

For a better understanding of the market adoption of the leak detection and repair market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. North America constitutes a major market for the leak detection and repair market industry and generated revenue of USD XX Million in 2020 owing to the stringent government regulations and growing oil and gas industry in the region.

Some of the major players operating in the market are Aeris Technologies, Inc., Bridger Photonics, Inc., LI-COR, Inc., ABB Ltd., Palo Alto Research Center, Maxion Technologies, Inc., Rebellion Photonics, Physical Sciences, Inc., Avitas Systems, PrecisionHawk, etc. Several M&As along with partnerships have been undertaken by these players to develop Leak Detection and Repair across the globe.
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Table Of Content

Scope

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Leak Detection and Repair Market

2.2. Research Methodology of the Leak Detection and Repair Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Leak Detection and Repair Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL LEAK DETECTION AND REPAIR MARKET COVID-19 IMPACT

6 GLOBAL LEAK DETECTION AND REPAIR MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY COMPONENT

7.1. Services

7.2. Equipment

8 MARKET INSIGHTS BY PRODUCT

8.1. Handheld Gas Detectors

8.2. UAV-Based Detectors

8.3. Vehicle-based Detectors

8.4. Manned Aircraft Detectors

9 MARKET INSIGHTS BY TECHNOLOGY

9.1. Volatile Organic Compounds Analyzer

9.2. Optical Gas Imaging

9.3. Laser Absorption Spectroscopy

9.4. Ambient/Mobile Leak Monitoring

9.5. Others

10 MARKET INSIGHTS BY REGION

10.1. North America Leak Detection and Repair Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Leak Detection and Repair Market

10.2.1. United Kingdom

10.2.2. Germany

10.2.3. France

10.2.4. Italy

10.2.5. Spain

10.2.6. Rest of Europe

10.3. Asia Pacific Leak Detection and Repair Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. South Korea

10.3.6. Rest of Asia Pacific

10.4. Rest of World Leak Detection and Repair Market

11 LEAK DETECTION AND REPAIR MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 LEAK DETECTION AND REPAIR MARKET OPPORTUNITIES

13 LEAK DETECTION AND REPAIR MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. Aeris Technologies, Inc.

18.2. Bridger Photonics, Inc.

18.3. LI-COR, Inc.

18.4. Colorado State University

18.5. Palo Alto Research Center

18.6. Maxion Technologies, Inc.

18.7. Rebellion Photonics

18.8. Physical Sciences, Inc.

18.9. Avitas Systems

18.10. PrecisionHawk

19 DISCLAIMER

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Products and Companies


Companies

Aeris Technologies, Inc., Bridger Photonics, Inc., LI-COR, Inc., ABB Ltd., Palo Alto Research Center, Maxion Technologies, Inc., Rebellion Photonics, Physical Sciences, Inc., Avitas Systems, PrecisionHawk

Company Profile

Company Profile Title

Leak detection and repair is a work practice that is designed to identify leaking equipment so that emissions can be reduced through repairs. A rise in the demand for operational and safety efficiency among companies, coupled with the increase in the incidents of oil and gas leakages in pipelines and storage tanks at production facilities are some of the prominent factors which are leading to the market growth. As per EPA, approximately 70,367 tons per year of VOCs and 9,357 tons per year of HAPs have been emitted from equipment leaks.

The global oil and gas exploration and production sector make up a large portion of the global economy, and the growth of this industry is only expected to increase in the future. Leaks of oil and gas are most common in the upstream, midstream, and downstream stages. Globally, oil and gas exploration and production operations have increased as a result of expanding global oil and gas consumption. It is forecasted that OPEC crude oil production will average 32.11 million b/d in 2021 and 34.15 million b/d in 2022. According to the US Pipeline and Hazardous Materials Safety Administration (PHMSA), pipeline leaks generated approximately USD7.7 billion in losses between January 2005 and June 2020. Approximately 83% of these losses were compensated by the industry, while the remaining 17% were covered by the general public.

A rise in the adoption of the natural gas-based power plant is a crucial factor accelerating the market growth. As per IEA, In contrast to coal, global natural gas power plant capacity continued to expand in 2020, with over 40 GW of new capacity expected to be commissioned, primarily driven by the Middle East, the United States, and China. Also, the government's emphasis on green energy couped with the regulation by Environmental Protection to prevent the leakage of dangerous gases and liquid from different industries. are some of the prominent factors that would contribute to the growth of the leak detection and repair market in the forthcoming years. In March 2021, the U.K. government announced that it was investing about USD 105.7 million in next-generation green technologies. This funding is part of the government's USD 1.17 billion Net Zero Innovation Portfolio. In addition, the government also launched three new innovative challenges across areas of the green energy sector, such as floating offshore wind energy, biomass production, and energy storage technology.

Based on components, the market is fragmented into Service and equipment. The service segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The rising number of oil and gas, industrial facilities across the globe results in a greater demand for the services. However, the equipment segment would witness the highest CAGR in the forthcoming years.

Based on the product, the market is fragmented into handheld gas detectors, UAV-based detectors, vehicle-based detectors, and manned aircraft detectors. the handheld gas detectors segment grabbed xx% market share and captured USD XX Mn market in 2020 wing to the benefits it offers such as fast and reliable detection, compact and lightweight structures, and ease of use. however, the UAV-based detector segment would witness a robust CAGR during the forthcoming years.

Based on the technology, the market is fragmented into volatile organic compounds analyzer, optical gas imaging, laser absorption, spectroscopy, ambient/mobile leak monitoring, and others. The volatile organic compounds analyzer segment grabbed XX% market share and captured USD XX Mn market in 2020.

For a better understanding of the market adoption of the leak detection and repair market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. North America constitutes a major market for the leak detection and repair market industry and generated revenue of USD XX Million in 2020 owing to the stringent government regulations and growing oil and gas industry in the region.

Some of the major players operating in the market are Aeris Technologies, Inc., Bridger Photonics, Inc., LI-COR, Inc., ABB Ltd., Palo Alto Research Center, Maxion Technologies, Inc., Rebellion Photonics, Physical Sciences, Inc., Avitas Systems, PrecisionHawk, etc. Several M&As along with partnerships have been undertaken by these players to develop Leak Detection and Repair across the globe.
READ MORE

Scope

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Leak Detection and Repair Market

2.2. Research Methodology of the Leak Detection and Repair Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Leak Detection and Repair Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL LEAK DETECTION AND REPAIR MARKET COVID-19 IMPACT

6 GLOBAL LEAK DETECTION AND REPAIR MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY COMPONENT

7.1. Services

7.2. Equipment

8 MARKET INSIGHTS BY PRODUCT

8.1. Handheld Gas Detectors

8.2. UAV-Based Detectors

8.3. Vehicle-based Detectors

8.4. Manned Aircraft Detectors

9 MARKET INSIGHTS BY TECHNOLOGY

9.1. Volatile Organic Compounds Analyzer

9.2. Optical Gas Imaging

9.3. Laser Absorption Spectroscopy

9.4. Ambient/Mobile Leak Monitoring

9.5. Others

10 MARKET INSIGHTS BY REGION

10.1. North America Leak Detection and Repair Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Leak Detection and Repair Market

10.2.1. United Kingdom

10.2.2. Germany

10.2.3. France

10.2.4. Italy

10.2.5. Spain

10.2.6. Rest of Europe

10.3. Asia Pacific Leak Detection and Repair Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. South Korea

10.3.6. Rest of Asia Pacific

10.4. Rest of World Leak Detection and Repair Market

11 LEAK DETECTION AND REPAIR MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 LEAK DETECTION AND REPAIR MARKET OPPORTUNITIES

13 LEAK DETECTION AND REPAIR MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. Aeris Technologies, Inc.

18.2. Bridger Photonics, Inc.

18.3. LI-COR, Inc.

18.4. Colorado State University

18.5. Palo Alto Research Center

18.6. Maxion Technologies, Inc.

18.7. Rebellion Photonics

18.8. Physical Sciences, Inc.

18.9. Avitas Systems

18.10. PrecisionHawk

19 DISCLAIMER

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS


Companies

Aeris Technologies, Inc., Bridger Photonics, Inc., LI-COR, Inc., ABB Ltd., Palo Alto Research Center, Maxion Technologies, Inc., Rebellion Photonics, Physical Sciences, Inc., Avitas Systems, PrecisionHawk