Leak Detection And Repair Market: UAV-Based Detectors Segment Is Anticipated To Register The Fastest CAGR

 Leak Detection And Repair Industry Overview

The global leak detection and repair market size is expected to reach USD 27.89 billion by 2030, growing at a CAGR of 4.5% from 2023 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 MEA regions. According to IEA, oil demand in the Asia Pacific is expected to reach 9 million barrels per day by 2040. Various government bodies are encouraging the use of advanced leak detection and repair (LDAR) systems, which is creating new opportunities for market growth. For instance, in December 2020, the Protecting Our Infrastructure of Pipelines and Enhancing Safety Act was signed into law in the U.S. This act directs gas pipeline operators to use enhanced leak detection technologies to ensure the safety of pipelines and the environment.

 

Growing government efforts to reduce methane emissions worldwide are anticipated to accentuate market growth. For instance, the Global Methane Pledge was announced on 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. The COVID-19 pandemic is anticipated to impact the market growth favorably in the near future. The pandemic forced oil and gas companies to adopt enhanced leak detection solutions to overcome the challenges caused by employee shortage. The demand for UAV-based detectors increased among oil and gas companies amid the pandemic.

 

Leak Detection And Repair Market Segmentation

Grand View Research has segmented the global leak detection and repair market on the basis of component, product, technology, and region:

Based on the Component, the market is segmented into Equipment, and Services.

  • The services segment dominated the market in 2022 and accounted for more than 64.0% share of the global revenue. Leaking equipment, such as pumps, valves, connectors, and compressors, are the leading sources of volatile organic compounds emissions in chemical manufacturing facilities and petroleum refineries.
  • The equipment segment is anticipated to register the fastest growth rate over the forecast period. The integration of enhanced technologies in LDAR equipment is expected to create a new opportunity for the growth of the segment. Equipment with multi-gas solutions, cloud connectivity, and other such features are being increasingly used by utility companies to monitor Greenhouse Gases (GHG), water vapors, and carbon dioxide. 

 

Based on the Product, the market is segmented into Handheld Gas Detectors, UAV-based Detectors, Vehicle-based Detectors, and Manned Aircraft Detectors.

  • Handheld gas detectors are increasingly in demand among oil and gas companies owing to their benefits, such as fast and reliable detection, compact and lightweight structures, and ease of use. These detectors are used for detecting different gases, such as methanol, carbon dioxide, ammonia, and methane.
  • The UAV-based detectors segment is anticipated to register the fastest CAGR over the forecast period. The use of UAV-based detectors to navigate dangerous areas is one of the critical advantages of these aerial solutions, which drives the segment growth. 

 

Based on the Technology, the market is segmented into Volatile Organic Compounds (VOC) Analyzer, Optical Gas Imaging (OGI), Laser Absorption Spectroscopy, Ambient/Mobile Leak Monitoring, Acoustic Leak Detection, and Audio-Visual-Olfactory Inspection.

  • The concentration of a VOC is high in an indoor environment compared to the outdoor environment. A VOC is mainly emitted from products inside a building, such as cleaning supplies, paints, glues, and printing equipment. Volatile organic compounds detectors are mainly used for the rapid and accurate detection of VOCs.
  • The Optical Gas Imaging (OGI) segment is expected to register the fastest CAGR over the forecast period. Optical gas imaging is a thermal imagingtechnology that utilizes highly sensitive infrared cameras to detect small fugitive emissions from the oil and gas industries. 

 

Key Companies & Market Share Insights

The competitive landscape of the market is highly fragmented in nature. The market players focus on product innovation strategies to strengthen their market positions. Companies are making efforts to test innovative ways for remotely monitoring methane emissions. Moreover, businesses are also focusing on providing enhanced IoT-based leak detection and repair systems. These enhanced IoT-based leak detection and repair systems are enabling companies to strengthen their market positions. Market players come together to provide leak detection solutions to utility companies worldwide.

This helps them strengthen their market position and expand their client base. For instance, in December 2020, Senet, a cloud-based services software platform provider, announced its partnership with CNIguard, a technology company, and Semtech, a semiconductor provider. Through this partnership, the companies delivered LoRaWAN natural gas leak detection solutions to utilities across the U.S. Some of the prominent players in the global leak detection and repair market include:

  • 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
  • PrecisionHawk
  • SeekOps, Inc.
  • Advisian
  • Ball Aerospace & Technologies Corp.
  • Gas Ops Leak Detectives, LLC (G.O.L.D. LLC).
  • Guideware Systems, LLC.
  • Summit Inspections Services, Inc.
  • GHD, Inc.
  • ERM Group, Inc.
  • AECOM
  • Guardian Compliance
  • ABB Ltd.
  • Chicago Bridge & Iron Company N.V.
  • Heath Consultants
  • ENCOS, Inc.
  • Team Inc.
  • VelocityEHS
  • Picarro Inc.
  • Microdrones GmbH
  • Boreal Laser Inc.
  • Kairos Aerospace

 

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

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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