Hydrostatic testing Market Latest Innovations, Drivers and Industry Key Events 2018 - 2028

Market Overview:

Pressure tests are generally used by pipeline operators to determine the strength of a pipeline right after its construction but before placing the pipeline in service. These post-construction pressure tests confirm the competence of the pipeline materials as well as construction methods. Additionally, various regulations, such as Integrity Management, require pipeline operators to systematically conduct integrity evaluations for certain pipelines. Hydrostatic testing is one of the most acceptable methods for evaluating these requirements.

An integrity evaluation pressure test determines whether a pipeline has the sufficient strength and integrity to prevent ruptures or leaks under difficult conditions. Hydrostatic testing is a method which is used to examine any equipment, such as storage tanks, fire extinguishing cylinders, gas cylinders, chemical pipelines, etc. with the help of a hydrostatic tester. This equipment is used to detect leaks and the complete integrity of units and instruments is evaluated. The hydrostatic tester regulates the degree of the tube expansion beneath water pressure, which eventually determines whether the instrument or unit can hold the pressure load safely or not.

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Reasons for Covering this Title:

Hydrostatic testing is a type of pressure testing and is also known as the non-destructive testing method. This test is performed to avoid disasters and hazards. Hydrostatic testing is considered to be the most accurate method for testing pressure containers, such as plumbing, pipelines and several chemical cylinders, to avoid leaks. On the other hand, there is a chance for equipment to rupture and fail if the inspection is not done properly. Equipment failure can occur if an inspection exceeds the specified test pressure for the pressure system or if a small crack expands quickly during testing.

Product Definition and Segmentation:

Hydrostatic testing is used to detect leakages in tanks and pipelines in various industries, such as Chemicals, Pharmaceutical, Oil and Gas, etc., for numerous instruments, such as fire extinguishing cylinders, storage tanks, gas cylinders, chemical pipelines, etc. Additionally, hydrostatic testing is done using 3 methods -- Water Jacket Method, Direct Expansion Method, and Proof Pressure Method.

On the basis of testing techniques, the global Hydrostatic testing market has been segmented as:
Water Jacket Method
Direct Expansion Method
Proof Pressure Method
On the basis of Application, the global Hydrostatic testing market has been segmented as:
Fire extinguishing cylinders
Storage tanks
Gas cylinders
Chemical pipelines
Others

Driver: Rising awareness about Hydrostatic testing will help in avoiding disasters and penalties

Hydrostatic testing is an extremely accurate method to test pressure vessels, such as plumbing, pipelines, chemical cylinders, etc. for possible leaks. By performing periodic hydrostatic re-qualification testing, disasters or hazards such as the breaking or bursting of outdated containers owing to the loss of structural integrity can be evaded. In addition to this factor, hydrostatic testing also helps various companies circumvent potential penalties linked with transporting old and weak cylinders. Along with the above mentioned factors, rising government regulations and specifications related to the safety of labor and facility will drive the demand for hydrostatic testing across various industries.

Factors Affecting the Growth of Hydrostatic testing Market and Their Impact

Companies which manufacture cylinders and pipes are working in close collaboration with manufacturers who offer certified services of hydrostatic testing. In this way, the companies can reduce various costs, labour force and also, they need not buy hydrostatic testing equipment. Additionally, this will also minimize the time and money required for performing the test and meeting relevant certifications. Thus, the trend of outsourcing of hydrostatic testing is expected to drive the market across the globe.

Key Developments and Revenue Growth across the Industry:

In January 2018, Valmec company acquired Australian pressure testing services (APTS) company to gain admittance to long-term service agreements worth US$ 5 million and acquiesced tenders which totaled up to US$ 13 million along with existing clients

Various major players in the industry are joining hands to start a new service segment, this new service segment will allow companies to serve consumers in a better way.

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Regional Market Outlook:

The Asia Pacific region is currently the dominant region with significant market share and is anticipated to capture maximum market share over the forecast period. This can be attributed to the growth of industrialization and construction in the region. Also, some countries, such as India, China, etc., are considered to be main contributors to the growth of building industries and construction industries and will drive the hydrostatic testing market during the forecast period. As the demand for construction and industrialization increases, the demand for pipes and fittings will also grow, which, in turn, will fuel the demand for Hydrostatic testing, globally.

Additionally, Asia Pacific, North America and Latin America regions are expected to grow with significant growth rate and will be followed by Europe and Middle East Africa regions. Moreover, the Latin America region is estimated to hold significant market share in the Hydrostatic testing market, which can be attributed to increasing demand for gas pipelines, water and wastewater drainage systems, etc. However, the Middle East and Africa region is projected to grow with significant rate of growth over the forecast period.

Global Hydrostatic testing Market: Key Players

Some of the key players and service provider identified across the value chain of the global Hydrostatic testing market include Applus Laboratories, W.W. Grainger, Inc., ENBRIDGE INC., Hydratight Limited, Werner Sölken, ETIC, The Williams Companies, Inc., LMATS Pty Ltd, Buckeye Partners, L.P., Levitt-Safety Ltd., Will's All Pro Plumbing, Heating & Air Conditioning, Santhoff Plumbing Co., Vortex Technologies, Inc., Sunoco Pipeline L.P., T.D. Williamson, Inc., L.G.S. Hydrostatic Testing, Inc., Laboratory Testing Inc., Groundforce, etc. among others.

Brief Approach to Research

FMI will follow a triangulation methodology and modelling-based approach so as to estimate data covered in this report. A detailed market understanding and assessment of the nature, product type of the product segments covered in the study is followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.

Key Data Points Covered in the Report

Some of the key data points covered in our report include:

An overview of the Hydrostatic testing market, including background and evolution

Macroeconomic factors affecting the Hydrostatic testing market and its potential

Market dynamics, such as drivers, challenges and trends

Technology Roadmap involved from inception period to present date

Detailed value chain analysis of the Hydrostatic testing market

Cost structure of the products and segments covered in the global Hydrostatic testing market

In-depth pricing analysis, by key product segments, regions and by major Hydrostatic testing market participants

Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global Hydrostatic testing market

Analysis of the global Hydrostatic testing market structure, including a tier-wise categorization of key Hydrostatic testing market participants

Competitive landscape of the market, including detailed profiles of top players in the Hydrostatic testing market

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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This release was published on openPR.