The Leak Detection Market is growing with demand for advanced monitoring in water, oil & gas, and industrial applications.

AUSTIN, TX, UNITED STATES, February 21, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Leak Detection Market was valued at USD 4.58 billion in 2023 and is expected to grow to USD 7.26 billion by 2032, at a CAGR of 5.31% over the forecast period of 2024-2032.”

The growth of the leak detection market is driven by the stringent implementation of safety and environmental regulations, the high demand for efficient leak detection systems from oil and gas pipelines, and the need to reduce economic losses caused by leakage, Detection precision, and productivity are being proceeded as a result of the technological advancements in sensors and the integration of IoT into diagnostics. In addition, increasing water infrastructure development, rising water scarcity, and increasing adoption of stringent environmental regulatory policies are expected to boost the demand for leak detection solutions in water distribution systems and industrial applications.

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SWOT Analysis of Key Players as follows:
- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Krohne Messtechnik GmbH
- Schneider Electric SE
- Siemens Energy Global GmbH & Co. KG
- Yokogawa Electric Corporation
- Pentair PLC
- Pure Technologies Ltd.
- FLIR Systems Inc.
- Sensit Technologies LLC
- Bridger Photonics Inc.
- Perma-Pipe International Holdings Inc.
- Emerson Process Management
- Inficon
- MISTRAS Group Inc.
- The Energy Conservatory
- LDARtoolbox
- OGI Solutions
- Kongsberg Gruppen

Key Market Segmentation:

By Type: The handheld detector segment accounted for the largest share of the leak detection market in 2023, owing to its portability, ease, and economical use. In many industries including oil and gas, water, and manufacturing, these devices are used for rapid on-site leak inspection. They represent a significant portion of the market by being available at lower prices and high flexibility, making them a go-to option for maintenance and safety inspections.

The UAV based detector segment is expected to expand at the fastest CAGR between 2024-2032. This growing demand is attributed to the need for more efficient remote monitoring solutions, especially in hard-to-reach or dangerous situations. Detectors deployed on UAVs provide higher coverage, real-time transmission, and better precision which can be utilized for large-scale pipeline inspection and environmental monitoring applications.

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By Technology: The VOC analyzer segment led the leak detection market in the year 2023, worldwide because it offers high sensitivity & accuracy to detect hazardous emissions. VOC analyzers are commonly used in industries including oil & gas, chemical manufacturing, and environmental monitoring for safety & regulatory compliance. The high market share of these detectors can be attributed to their efficiency in identifying harmful gases and pollutants.

The Optical Gas Imaging (OGI) type segment is anticipated to record the highest compound annual growth rate (CAGR) from 2024-2032. The growth can be attributed to an increasing need for non-contact and real-time gas detection solutions to improve safety and operational efficiency. OGI image displays as leakage and is suitable for monitoring a substation, a large-scale industrial factory, and also a pipeline.

By End-use Industry: The Leak Detection Market was led by the Oil & Gas segment in 2023 owing to a high standard of safety and environmental requirements within the industry. Leak detection systems enable full-time monitoring of pipelines, storage tanks, and processing facilities, preventing accidents, mitigating financial losses, and fulfilling strict regulatory requirements. Due to the complexity and scale of oil and gas operations, there is a strong demand for reliable and accurate detection solutions which is helping the segment remain at the fore of the market.

The Chemical & Petrochemical segment is projected to hold the highest CAGR of around 2024-2032. Such growth is driven by a growing need for safety, the enactment of strict environmental regulations, and the vast requirement to identify hazardous chemical leaks in time. Advanced leak detection technologies are being adopted in response to the pressure on the industry to reduce emissions and ensure worker safety.

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North America Leads Leak Detection Market as Asia Pacific Poised for Rapid Growth

North America led the leak detection market in 2023, owing to its stringent environmental regulations, advanced infrastructure, and the focus of oil and gas, chemical, and water management industries on safety. The need for efficient usage of major pipelines, the presence of leading market players, the high adoption of advanced technologies, and huge investments in pipeline infrastructure and maintenance, enabled this region to lead the market. Moreover, the demand for trustworthy and accurate leak detection solutions is driven by rising concerns about environmental impacts and stringent regulatory requirements from the Environmental Protection Agency (EPA).

Asia Pacific is expected to grow at the fastest CAGR from 2024-2032. This growth is fueled by fast-paced industrialization, urbanization, and higher investments in infrastructure development, especially in China, India, and Southeast Asia. The growth of oil and gas exploration, an increasing chemical and petrochemical industry, and a growing awareness of environmental conditions have driven demand for these solutions in the region. In addition, various government schemes to enhance environmental safety standards and reduce emissions are propelling the market growth further. Moreover, the leak detection market in Asia Pacific is witnessing strong growth owing to rising technological transformations along with the development of IoT-based detection systems.

TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Leak Detection Market Segmentation, by Component

Chapter 8. Leak Detection Market Segmentation, by Service Type

Chapter 9. Leak Detection Market Segmentation, by Service Model

Chapter 10. Leak Detection Market Segmentation, by Organization Size

Chapter 11. Leak Detection Market Segmentation, by Vertical

Chapter 12. Regional Analysis

Chapter 13. Company Profiles

Chapter 14. Use Cases and Best Practices

Chapter 15. Conclusion

Continued…

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Jagney Dave
SNS Insider Pvt. Ltd
+1 315 636 4242
info@snsinsider.com
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