Leak Detection Market is Booming Across Globe | Key Player Honeywell International Inc., Siemens, FLIR Systems Inc., PSI Software AG, KROHNE Messtechnik GmbH

Market Analysis: Global Leak Detection Market

Leak detection market

Market Definition: Global Leak Detection Market

Leak detection is a particular method through which the occurrence of a leak is determined during corrosion. It can be either in a liquid or gaseous form. This method is mainly used in the Oil & Gas industry particularly in upstream, middle stream, and downstream. Both internal and external methods of detection are available for the leak detection such as infrared and laser technology and hydrostatic testing. Leak detection systems ranges from simple, visual line walking and checking to the complex arrangements of software and hardware.

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Market Drivers:

Rapid expansion of the petrochemical industries and production activities is affecting the market growth in a positive way

Rising incidences of oil & gas leakages is driving the market growth

Increasing consumer awareness pertaining to the environmental conservation and natural gas consumption

Increasing investments in the off-shore energy resources by the major players will propel the market size


Market Restraint:

Growing retrofitting trends of some leak detection systems is hampering the market growth


Segmentation: Global Leak Detection Market

Category

Oil

Gas


Product

Fixed

Portable


Technology For Oil

Acoustic/Ultrasonic

Mass/Volume Balance

Fiber Optic

Vapor Sensing Tubes

E-RTTM


Technology For Gas

Acoustic/Ultrasonic

Laser Absorption & Lidar

Cable Based

Statistical & Real Time Monitoring

Vapor Sensing

Flow Monitoring

Thermal Imaging


End User

Upstream

Middle stream

Downstream


Geography

North America

U.S.

Canada

Mexico


Europe

Germany

Italy

U.K.

France

Spain

Netherlands

Belgium

Switzerland

Turkey

Russia

Rest of Europe


Asia-Pacific

Japan

China

India

South Korea

Australia

Singapore

Malaysia

Thailand

Indonesia

Philippines

Rest of Asia-Pacific


South America

Brazil

Argentina

Rest of South America


Middle East and Africa

Saudi Arabia

UAE

South Africa

Egypt

Israel

Rest of Middle East and Africa



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Key Developments in the Market:

In January 2018, SENSIT Technologies, global leader in the gas detection and measurement instruments launched its Gasless Leak Trainer. It was designed for meeting hands-on training needs with respect to the hazardous leak investigations and gas emergencies. It pairs a Bluetooth-enabled tablet with special equipped SENSIT & TRAK-IT IIIa Multi-Gas Detectors for simulating the real-world scenarios without any requirement of the live gas. The respective launch of the instrument helped in the diversification of product portfolio of the company

In July 2015, Honeywell International Inc. acquired Elster Division of Melrose Industries plc for a sum total of USD 5.1 billion. It is the leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters. They also deal in the smart meters and software & data analytics solutions. This will provide effective generation of the definitive future returns for the Honeywell's shareowners as it will provide an increment in their growth profile across the globe


Competitive Analysis

Global leak detection market

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Major Market Competitors/Players

Few of the major competitors currently working in the global leak detection market are Honeywell International Inc., Siemens, FLIR Systems Inc., PSI Software AG, KROHNE Messtechnik GmbH, ClampON AS, Pentair plc., Xylem Inc., SENSIT Technologies, Schneider Electric, Perma-Pipe, Atmos International (Atmos), TTK-Leak Detection System, Bridger Photonics Inc., RAE Systems, EnergySolutions, IRT Consult Environmental & Energy Ltd., EnTech Engineering, PC and others.

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