The global leak tester market was valued at USD 427.9 million in 2019 and is projected to reach USD 829.4 million by 2027, expanding at a CAGR of over 9.5% during the forecast period (2020-2027). Leak testing is an industrial procedure required to verify and measure the pneumatic tightness of the components made. Major investments were made in the global leak testing market at the end of the nineties to expand these forms of leak checks to a broad variety of goods. Several end use industries such as automotive, consumer goods, energy, HVAC/R, medical, and military are the downstream sectors of leak testing products. In the recent years, the consumption of leak tester has increased due to the recovery of the global economy, especially in developing countries, which has raised consciousness regarding the usage of quality product. The development and adoption of several types of leak tester has increased in 2019 and this trend is projected to continue during the forecast period.
The global leak tester market is driven by increase in investments in offshore energy infrastructure and rise in the demand for efficient industry leak detection to prevent possible disasters and accidents, and rapid growth in the oil & gas industry. Additionally, rising demand for effective leak detection techniques to prevent possible disasters and incidents, further promotes the development of the industry. The composition of the leak tester is relatively concentrated with several manufacturers such as INFICON, ATEQ, VIC Leak Detection, and Cosmo Instruments account for over 50% of the overall market share in the global leak tester market.
A leak tester is an effective way for conduct industry complaint tests to check for leaks, before delivering it to the customers or before utilization. The accuracy of leak tester over traditional methods is boosting its demand over the past few years. Manufacturers of leak tester are increasingly focusing on the integration of the latest technologies to boost the sale of devices and capture the maximum market share. A significant number of industries are relying on helium leak tester due to increasing shortage of helium gas. Manufacturers of leak tester are increasingly developing products to deliver industry compliant and suitable products to cater to the end-user requirements. Currently, major types of leak tester include compact leak tester and stationary leak tester. End-users are different industry verticals such as automotive, medical, HVAC, laboratories, and energy. Leak testing is performed frequently due to increasing need to prevent leakage for controlling the loss of gases, liquids, and other components and to prevent any hazardous events at factory locations or other areas. This, in turn, fuels the demand for leak tester.
On the basis of types, the leak tester market is divided into portable leak tester, compact leak tester, and stationary leak tester. The stationary leak tester segment dominated the global market in 2019 with a market share of over 41.0%. Stationary leak tester is known for its superior performance and lightweight. The voltage range offered includes universal and a fixed voltage, which propels the demand for portable leak tester. A stationary link tester is suitable for in-house testing of materials, gases, and other parameters. The stationary leak tester is preferred for offline testing of the sample. The portable leak tester sub-segment is projected to expand at a high CAGR during the forecast period. Pfeiffer Vacuum, which is one of the leading manufacturers of leak tester, offers advanced forms of portable leak tester. The ASM310, a portable leak tester offered by the company, has a detachable control panel, touchscreen with graphical display, SD card storage capacity, customizable menu, and various other features.
In terms of value, North America held a major share of the global leak tester market. The high market share is due to the presence of well-established players in the U.S. and Canada. North America is home to players, including ATEQ Corporation, Vacuum Instruments Corporation, InterTech Development Company, and LACO Technologies, who work in the leak tester market. Additionally, the adoption of leak tests in North America is high due to the steady growth of the automotive industry in the region. Many companies across the US are innovating technologically advanced new generation leak testing facilities to cater to the rising demand for these testers from different industries.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report provides supply chain analysis along with a list of original equipment suppliers, manufacturers, distributors, and customers.
According to this Growth Market Reports report, the market from leak tester is likely to register a CAGR of 9.5% during forecast period 2019-2027, with an anticipated valuation of over USD 829.4 million by the end of the 2027.
In addition to market size (in US$ Million) and market volume (Units) company market share (in % for base year 2019), other data such macro-economic factors, COVID-19 Impact on the value chain is available in final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
It is anticipated that increased investment in offshore energy alternatives and strict government safety legislation would provide the industry with new opportunities for the global Leak Tester market.
The market is expected to witness a decrease of over 3% between 2019 and 2020 owing to the adverse impact of COVID-19 pandemic on the.
The base year considered for the global leak tester market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years, and the forecast is provided from 2020 to 2027.
The key end users include upstream, downstream, and midstream industries including oil & gas refineries, chemical plants, thermal power plants and water treatment plants.
Major Manufactures include Lezyne, Topeak, Blackburn, Bell, Schwinn, Intex, Giant, Giyo, Silca, Specialized, BioLogic (Mobility Holdings, Ltd.), Campagnolo, DT Swiss, and ZEFAL.
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