How AI and IoT Are Shaping the Future of the Leak Detection and Repair Market

Comments · 8 Views

The market growth can be attributed to the increasing demand for oil and oil products across Asia Pacific, North America, Europe, and the MEA region. According to IEA, oil demand in Southeast Asia is expected to reach 9 million barrels per day by 2040.

Leak Detection And Repair Industry Overview

The global leak detection and repair market size is anticipated to reach USD 27.89 billion by 2030 and is projected to grow at a CAGR of 4.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing demand for oil and oil products across Asia Pacific, North America, Europe, and the MEA region. According to IEA, oil demand in Southeast Asia is expected to reach 9 million barrels per day by 2040.

 

Various government bodies are encouraging the use of advanced LDAR systems, which is creating new opportunities for market growth. For instance, in May 2023, the Pipeline and Hazardous Materials Safety Administration unveiled a pre-publication version of a Notice of Proposed Rulemaking that would improve the federal regulations regarding pipeline safety to require that operators of gas pipeline facilities implement several measures to minimize emissions of methane and other corrosive, toxic, or flammable gas from existing and new pipelines.

Gather more insights about the market drivers, restrains and growth of the Leak Detection And Repair Market

 

Growing government efforts to reduce methane emissions worldwide are anticipated to accentuate market growth. For instance, the Global Methane Pledge was announced in 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.

 

Furthermore, rapid innovation in theleak detection and repair (LDAR) systems by various companies is further attributed to the market’s growth. The introduction of cutting-edge technologies such as drones, optical gas imaging (OGI) cameras, and data analytics tools has transformed leak detection and repair systems and services. These advancements reduce downtime, improve accuracy, and drive demand for LDAR systems and services in the global market.

 

Browse through Grand View Research's Sensors Controlsr Industry Research Reports.

 


Leak Detection And Repair Market Segmentation

 

Grand View Research has segmented the global leak detection and repair market based on component, product, technology, and region.


Leak Detection And Repair Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Equipment
  • Services


Leak Detection And Repair Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Handheld Gas Detectors
  • UAV-Based Detectors
  • Vehicle-based Detectors
  • Manned Aircraft Detectors


Leak Detection And Repair Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Volatile Organic Compounds (VOC) Analyzer
  • Optical Gas Imaging (OGI)
  • Laser Absorption Spectroscopy
  • Ambient/Mobile Leak Monitoring
  • Acoustic Leak Detection
  • Audio-Visual-Olfactory Inspection

 

Leak Detection And Repair Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
  • Middle East Africa
    • Kingdom of Saudi Arabia
    • UAE
    • South Africa

 

 Key Companies profiled:

  • 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

 

 

Key Leak Detection And Repair Company Insights

Some of the key companies operating in the market include Heath Consultants Incorporated, GHD, Inc., ABB Ltd., and Team Inc.

  • Heath Consultants Incorporated is a U.S.-based private company that provides line-clearing services and methane detection systems for gas suppliers. The company’s services mainly focus on the manufacturing of leak detection products for utility protection and damage prevention in oil gas industries.
  • GHD Inc. is a U.S.-based company that serves industries such as water, transportation, environment, property and buildings, and energy and resources. It offers a range of services in the oil and gas industry, helping to manage hazardous greenhouse gases. The projects that it undertakes entail a list of services for each inspection, and the company also undertakes maintenance of the plant after the completion period.


Chicago Bridge Iron Company N.V., ERM Group, Inc., Guardian Compliance, Avitas Systems, and Ball Aerospace Technologies Corp. are some of the emerging companies in the leak detection and repair market.

  • Chicago Bridge Iron Company N.V. offers conceptual design, technology, engineering, procurement, construction, modularization, fabrication, and commissioning services.
  • Guardian Compliance provides leak detection services. The company offers various tools, including IR-based cameras, for detecting gas leakages. It develops customized programs for reporting gas leakages and builds cross-referencing tools for ease of access between old and new inventory records. It also offers specialized software and hardware instruments to improve the accuracy of data acquisition.

 

 

Recent Developments

  • In January 2024, CO2Meter, a prominent manufacturer of gas detection solutions, announced the launch of an industrial gas detector developed to monitor gases in industrial environments. The CM-900 series is designed to measure high carbon dioxide or low oxygen to protect staff and employees working around and near hazardous gases from situations such as accidental leaks.
  • In September 2023, DOD Technologies, a provider of commercial and industrial gas detection systems, equipment, and services, launched the ChemLogic Revive CL4R Four-Point Toxic Gas Detection System developed to replace and upgrade fixed four-point monitors. This system uses ChemLogic colorimetric technology to identify gas leaks, drawing ambient air samples from up to 500 feet away.
  • In January 2023, ChampionX Emissions Technologies, a prominent provider of emissions detection solutions for the oil and gas industry, launched AURA OGI, a highly innovative Optical Gas Imaging (OGI) camera. The AURA OGI MidWave InfraRed intelligent camera takes images with higher resolution compared to other cameras on the market. This advanced technology makes gas leak detection more efficient by using built-in smart navigation and routes.

 

Order a free sample PDF of the Leak Detection And Repair Market Intelligence Study, published by Grand View Research.

 

Comments