DUBLIN – (BUSINESS WIRE) – The report “Leak Detection and Repair Size Market Analysis, Share and Trends by Product (Handheld Gas Detectors, UAV-Based Detectors), Technology (VOC Analyzer, Optical Gas Imaging), and Segment Forecasts, 2021-2028” has been added ResearchAndMarkets.com Offer.
The global leak detection and repair market size is projected to reach $ 26.07 billion by 2028. Growth of 4.6% is expected from 2021 to 2028.
The growth is due, among other things, to the increasing number of oil and gas leaks in pipelines and storage tanks as well as the ongoing construction of new pipelines. The increase in oil and gas consumption has increased oil and gas production activities, creating the need for leak detection repair systems.
Today, oil and gas companies are leveraging the Internet of Things capabilities for leak detection, remote monitoring, etc. In the oil and gas industry, IoT technology is used to monitor pumps, compressors, and motors, and to capture temperature, dynamic pressure, and gas traces in Pipelines used. Various companies are striving to provide Internet of Things based pipeline leak detection services.
In November 2020, Siemens announced its partnership with ProFlex Technologies, a provider of leak detection solutions for pipeline operators. As part of this partnership, the advanced pipe-safe leak detection technology from ProFlex will be combined with the IoT system from Siemen to enable operators to reduce the risk of gas leaks.
Government agencies around the world have been trying hard to reduce methane emissions in the last few days. The U.S. Environmental Protection Agency (EPA) is making efforts to reduce methane emissions from the oil and natural gas industry as part of the government’s climate protection plan and the Clean Air Act.
This strategic plan aims to reduce methane emissions from the oil and gas industry by 40% to 45% by 2025. Methane is a major contributor to global warming and has a potential of more than 25% compared to carbon dioxide. This creates the need for leak detection and repair solutions to control methane leaks from the oil and gas industry.
The COVID-19 pandemic is expected to have a positive impact on market growth in the coming years. The pandemic has increased the use of UV leak detection systems to identify leaks in mobile HVAC systems.
The pandemic has led to an increase in the use of car heating systems to disinfect emergency vehicles. Thios requires a leak detector as coolant leaks can cause engines to overheat.
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Summary
2.1 Leak Detection and Repair (LDAR) Market Industry Snapshot and Key Purchase Criteria, 2016-2028
2.2 Global Leak Detection and Repair (LDAR) Market, 2016-2028
Chapter 3 Industry Outlook for Leak Detection and Repair (LDAR)
3.1 Market segmentation & scope
3.2 Leak Detection and Repair Market Dynamics (LDAR)
3.2.1 Market driver analysis
18.104.22.168 Expansion of the infrastructure for oil and gas pipelines
22.214.171.124 Strict official regulations to curb methane emissions
126.96.36.199 Increased introduction of natural gas power plants
3.2.2 Analysis of market reluctance
188.8.131.52 Challenges in leak detection under harsh environmental conditions
184.108.40.206 The upstream oil and gas segment is driving the cost reduction
3.2.3 Market Challenge Analysis
220.127.116.11 Multiple component leaks add complexity to detection
18.104.22.168 Global focus on the development of renewable energy generation projects
3.3 Market size and growth prospects
3.4 Leak Detection and Repair (LDAR) Porter Five Forces Analysis
3.5 Leak Detection and Repair (LDAR) Market Detection Ranking Analysis, 2020
3.6 Technology landscape
3.7 Leak Detection and Repair (LDAR) key element analysis
3.7.1 Elements of an LDAR program
3.8 List of major oil and gas projects in North America
3.9 Market regulation landscape for leak detection and repair (LDAR)
3.10 List of US LDAR Service Providers
Chapter 4 Leak Detection and Repair (LDAR) Product Outlook
4.1 Leak Detection and Repair Market Share by Product, 2020 and 2028
4.2 Hand gas detectors
4.3 UAV-based detectors
4.4 Vehicle-based detectors
4.5 Manned aircraft detectors
Chapter 5 Outlook on Leak Detection and Repair Technology (LDAR)
5.1 Leak Detection and Repair Market Share by Technology, 2020 and 2028
5.2 Analyzer for Volatile Organic Compounds (VOC)
5.3 Optical gas imaging (OGI)
5.4 Laser absorption spectroscopy
5.5 Monitoring of surrounding courts / mobile leaks
5.6 Acoustic leak detection
5.7 Audiovisual-olfactory inspection
Chapter 6 Leak Detection and Repair (LDAR) Regional Outlook
6.1 Leak Detection and Repair (LDAR) Market Share by Region, 2020 and 2028
Chapter 7 Competitive Landscape
Aeris Technologies, Inc.
IBM Thomas J. Watson Research Center
Bridger Photonics, Inc.
Colorado State University
Palo Alto Research Center
Maxion Technologies Inc.
Physical Sciences Inc.
Ball Aerospace & Technologies Corp.
Gas Ops Leak Detectives, LLC (GOLD LLC).
Guideware Systems, LLC.
Summit Inspections Services, Inc.
ERM Group, Inc.
Chicago Bridge & Iron Company NV
Boreal Laser Inc.
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