Global Leak Detection And Repair Market Overview: Forecasted Market Size and Growth Rate

As per The Business Research Company's Leak Detection And Repair Opportunities And Strategies Market Report 2023, the global leak detection and repair market size reached a value of nearly $16,737.5 million in 2021, having increased at a compound annual growth rate (CAGR) of 2.3 % since 2016. The market is expected to grow from $16,737.5 million in 2021 to $21,457.5 million in 2026 at a rate of 5.1 %. The global leak detection and repair market size is then expected to grow at a CAGR of 4.2% from 2026 and reach $26,384.9 million in 2031. 

The increase in oil and gas pipeline infrastructure will contribute to the growth of the leak detection and repair market in the forecast period. Oil and gas pipelines are used for transporting gas close to cities and other locations which makes it important to have the right infrastructure to improve efficiency. The expansion of the oil and gas pipeline infrastructure is fueled by rising interstate trade for delivering natural gas to high-demand areas and rising demand for renewable energy sources. Leak detection aids in identifying any flaw or leak in pipes that could result in the dangerous transportation of gas in cities or other regions.

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Machine learning and Artificial Intelligence (AI) are widely used by gas emission monitoring firms to find leaks more effectively in their infrastructure. Using satellite data, a machine learning algorithm locates leaks and emission concerns on the ground. Operators can make data-driven decisions by using the data generated by machine learning to spot trends and patterns over time. Numerous venture capital financing firms are making investments in businesses that offer LDAR solutions powered by AI, opening new potential.

The top opportunities in the leak detection and repair market by component will arise in the services market, which will gain $3,035.1 millions of global annual sales by 2026. The top opportunities in the leak detection and repair market by technology will arise in the volatile organic compounds (VOC) analyzer market, which will gain $488.8 millions of global annual sales by 2026. The top opportunities in the leak detection and repair market by product will arise in handheld gas detectors market, which will gain $608.4 millions of global annual sales by 2026. The leak detection and repair market size will gain the most in the USA at $1,782.8 million.

Leak Detection And Repair Market Segmentation:
The leak detection and repair market is segmented by component, by technology and by product.

By Component -
a) Equipment
b) Services

By Technology -
a) Volatile Organic Compounds (VOC) Analyzer
b) Optical Gas Imaging (OGI)
c) Laser Absorption Spectroscopy
d) Ambient/Mobile Leak Monitoring
e) Acoustic Leak Detection
f) Audio-Visual-Olfactory Inspection

By Product -
a) Handheld Gas Detectors
b) Uav-Based Detectors
c) Vehicle-Based Detectors
d) Manned Aircraft Detectors

Major players in the leak detection and repair market include Honeywell, AECOM, Ball Corporation, Advisian, LI-COR, Inc.

The regions covered in the global leak detection and repair market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Leak Detection And Repair Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Leak Detection And Repair Market Report Table Of Content
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Leak Detection And Repair Market, Conclusions And Recommendations
23. Appendix

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