The report showcases the trends that are in vogue, the regions that are growing, the various types of products available and the potential of the industry to provide solutions for a large population. Frequent aspects that are kept into view while formulating this Leak Test Equipment Market report include the market type, organization size, availability on-premises, end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. The market size, revenue generated from the sales and technologies by various application segments are also evaluated in this Leak Test Equipment Market report.
The Global Leak Test Equipment Market was valued at USD 692.5 million in 2017 and is expected to reach USD 785.9 million in 2025, growing at a healthy CAGR of 7.6% for the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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The leak testing equipment is used to detect manufacturing defects that helps verifying the integrity of products and also improves consumer safety. The use of leak testing equipment enables to know the escape of liquids, vacuum, or gases from sealed components or systems. These equipment have leak detector and sensor that are integrated with leak testing equipment. It include various test such as bubble testing, electronic gas detection, mass flow, colorimetric development, mass spectrometry, hydrogen leak detection and ultrasonic leak detection. In 2018, Marposs acquired Tecna Ltd., a leak testing solution provider company. The Tecna brands solutions were added in Marposs product portfolio. The Marposs helped to integrate leak testing solution with its products to provide services to automotive, conditioning/refrigeration and biomedical industries. The leak test equipment helps in preventing the leakages or pre-accidental situation by providing proper signal through software applications.
Key Market Competitors: Global Leak Test Equipment Market
The key players operating in the global leak test equipment market are –
- ATEQ Corp
- LACO Technologies
- Pfeiffer Vacuum GmbH
- Ceta Testsysteme GmbH
- Cosmo Instruments Co., ltd.
- InterTech Development Company
The other players in the market are TASI Group, Uson, L.P., Vacuum Instruments Corporation, LLC, TASI Group, Tecna srl, CETA, Changzhou Changce, Kane International, Rothenberger, HAIRUISI, Hermann Sewerin, Cosmo Instruments, VIC Leak Detection, and many more.
- Increasing incidents of oil & gas leakages in pipelines and storage tanks at production facilities
- Stringent government regulations pertaining to the implementation of leak test equipment
- Retrofitting of some leak detection systems
- Entry of new start-ups in the market
- Equipment Type
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The global leak test equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of leak test equipment market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
In 2013, Nolek signed co-operation agreement with KUKA robotics. Nolek provided robot leak testing/detection solutions to KUKA robotics. This agreement enabled KUKA robotics to use Nolek’s SniffIT X1 & X3 Digital product that helped it to provide very efficient leak testing solution.
Key Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global leak test equipment market
- Analyze and forecast the leak test equipment market on the basis of components, equipment, and end-user
- Trends of key regional and country-level markets for components, equipment, and end-user
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
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