Helium Leak Detection System Sales Are Projected To Increase At A CAGR Of 5.8% During 2021 - 2031

As per a recent published report by Fact.MR, a market research and competitive intelligence provider, the global helium leak detection system market is valued at US$ 765.2 Mn, and is slated to expand at an impressive CAGR of 5.8% over the forecast period of 2021 to 2031.
The market registered an annual growth of 4.3% during 2016-2020. Fact.MR anticipates significant potential in the market, owed due to the growing industrial automation and equipment industry.
Companies in the industrial automation and equipment industry continue to face an environment that remains hypercompetitive. Evolution in end-user demand is influencing players in the industrial automation and equipment landscape to optimize their manufacturing processes. Growth in the oil & gas industry, automotive sales, and surge in the agriculture sector have led to rising sales of helium leak detection systems.

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Key Takeaways from Market Study

• Double chamber segment is likely to witness sales of US$ 717.1 Mn by 2031.
• Based on region, demand for helium leak detection systems is expected to expand at CAGRs of 6.8% and 3.7% in the Middle East & Africa and Latin American regions, respectively, over the forecast period.
• Based on end use, the automotive and construction segments are anticipated to hold market shares of 20.5% and 6.3% by 2031, respectively.
• The market in Europe is expected to be valued at US$ 245.3 Mn by 2031.
• Together, North America and Europe represent over 46% of overall market share.

"The megatrend of automated detection system models has seen acceleration, which is pushing sales to new heights," says a Fact.MR analyst.

Market Segments Covered in Helium Leak Detection Systems Industry Research

By Chamber
• Single Chamber Helium Leak Detection Systems
• Double Chamber Helium Leak Detection Systems
• Multi Chamber Helium Leak Detection Systems

By End User
• Helium Leak Detection Systems for Automotive
• Helium Leak Detection Systems for Aerospace & Aeronautics
• Helium Leak Detection Systems for Construction
• Helium Leak Detection Systems for F&B Equipment
• Helium Leak Detection Systems for Utility Components
• Helium Leak Detection Systems for Pharmaceuticals
• Others

Category-wise Insights

How is Development of Single Chamber Helium Leak Detection Systems Fueling Market Growth Prospects?

Leak detection has become an integral component of the holistic quality check procedures carried out in a wide array of industries. There has been significant transformation in the single chamber of leak detection methodologies such as reducing cycle time for 48 second/part that are employed by various end users.
As failure to detect leaks at component levels are likely to compromise the performance of the entire system, end users are focusing on installing the most robust and accurate type of chambers. Single chamber helium leak detection systems are expected to be valued at US$ 477.2 Mn by 2031.
Helium leak detectors are highly accurate and efficient in detecting check leaks, and due to this, their adoption has witnessed a steady spike in the recent past. Demand for helium leak detectors is also growing in regions with relatively laxer regulations and standards on mandatory quality checks.

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Competitive Landscape

To increase penetration across profitable areas, key helium leak detection system providers are selling high-quality helium leak detection systems, which could be applicable for several types of end users. Market participants have developed a standardized process for product development in accordance to regulatory bodies to capture market share through exports.
Moreover, emphasis given on the combination of organic and inorganic approaches along with new product launches has been primarily adopted by market frontrunners dealing in helium leak detection devices.
Some of the recent market developments are:
• In 2019, Leak Detection Associates (LDA) launched new type of custom-built helium leak detection system - SIMS Model 1915+. This has a revised configuration and interface in pump, precisely proposed for biotech/pharma package testing to meet the stringent requirements of clients.
Similarly, recent developments related to companies offering helium leak detectors have been tracked by the team at Fact.MR, which are available in the full report.

Key Market Players:
• Agilent Technologies Inc
• INFICON
• Nagano Keiki Co, Ltd
• Oerlikon
• ULVAC Technologies Inc.
• Shimadzu Corporation

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This release was published on openPR.