Market Research Insights

  San Francisco, 26 Apr 2022:   The Report  Leak Detection And Repair Market  Size, Share & Trends Analysis Report By Component (Services, Equipment), By Technology (VOC Analyzer, OGI), By Product, By Region, And Segment Forecasts, 2022 - 2030 The global leak detection and repair market size is expected to reach USD 27.89 billion by 2030, growing at a CAGR of 4.4% over the forecast period, 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. T

  San Francisco, 9 April 2021:   The Report  Leak Detection And Repair Market  Size, Share & Trends Analysis Report By Product (Handheld Gas Detectors, UAV-based Detectors), By Technology (VOC Analyzer, Optical Gas Imaging), And Segment Forecasts, 2021 - 2028 The global leak detection and repair market size is expected to reach USD 26.07 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.6% from 2021 to 2028. The growth can be attributed to the increasing oil and gas leakages in pipelines and storage tanks and the ongoing new pipeline constructions, among others. The rise in oil and gas consumption has increased the production activities of oil and gas and thereby, created the need for leak detection repair systems. Nowadays, oil and gas companies are leveraging internet of things capabilities for leakage detection, remote area monitoring, and so on. In the oil and gas industry, IoT technology is used for monitoring pu