Global Leak Test Equipment Market: Rising Stringent Regulations Relating to Leakage Spurring Demand 2018-2026

Presently, rising applications of the leak test equipment across automotive, packaging, industrial, and medical & pharmaceutical industries providing huge momentum to the market. Market Research Hub (MRH) has freshly announced the inclusion of a study titled “Leak Test Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026”, which offers a clear picture of the current market scenario of leak test equipment, along with its future growth prospects till 2026. According to the report, the global leak test equipment market is expected to be influenced by a range of factors, which has been explained in the study.

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To elaborate further on this rapidly growing market, the report offers in-depth information on the crucial aspects of the global leak test equipment market and provides data on the factors propelling growth of the global market, competition landscape, important segments and growth patterns. In terms of geography, the study offers a holistic outlook on the market’s growth in terms of revenue in US$ Million and in terms of volume in thousand units across different geographical regions. Regions highlighted in this study are the Asia Pacific excluding Japan, Europe, Japan, North America, Middle East & Africa, and Latin America.

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 Key Highlights from the Study

As per the study key findings, the global leak test equipment market is anticipated to reach US$ 778.5 Mn by 2026. Also, the market is projected to expand at a CAGR of 7.46 % from 2018 to 2026. Leak testing procedures are essential to ensure superior quality of the product along with the safety of consumer. Nowadays, increasingly stringent regulations pertaining to leakages is likely to spur the demand for leak test equipment during the mentioned forecast period.
Moreover, on the basis of geography, the research report identifies that North America, Europe, and the Asia Pacific are likely to dominate the global leak test equipment market, as key players introduce their new leak test equipment in these regions.
An important section of the study talks about the market segmentation by component type, equipment type and end-use industry. By component, the study covers hardware, software and services. Based on equipment type, it covers portable and fixed. On the other hand, end-user is HVAC/R, Medical & Pharmaceutical, Industrial, Automotive & Transportation and Packaging. Amongst, the report adds that a large number of automotive manufacturers around the globe rely on higher quality leak test equipment to find defects in automotive components or products. Due to this, automotive and transportation segment is showing lucrative opportunities for the market.
Above all, company profiles of the market participants are deliberated in the final chapters of the report. This information is merged with awareness about recent developments achieved by these market participants. At present, ATEQ Corp., Uson, L.P., InterTech Development Company, Vacuum Instruments Corporation, LLC, CETA Testsysteme GmbH, LACO Technologies, and INFICON are some of the well-established players innovating novel leak test equipment and methods

 

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This release was published on openPR.