Leak Detection And Repair Market Size, Share, Growth Analysis, By Component(Services, Equipment), By Technology(VOC Analyzer, OGI), By Product(Handheld Gas Detectors, UAV-Based Detectors), By Region - Industry Forecast 2025-2032

Leak Detection And Repair Market size was valued at USD 18.86 billion in 2019 and is poised to grow from USD 19.71 billion in 2023 to USD 29.29 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

The existence of several international players defines the market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our Leak Detection and Repair market reports, some of the leading quality Leak Detection and Repair manufacturers are as follows: IBM Corporation (US), Baker Huges Company(US), WorleyParsons Limited (Australia), Ball Corporation (Ball Aerospace & Technologies Corporation) (Colorado), Team, Inc.(US), Aeris Environmental Ltd. (Australia), ABB Group(Switzerland), Kairos Aerospace, Inc.(US), Picarro, Inc.(California), ENCOS, Inc.(US), Rebellion Photonics(US), Physical Sciences, Inc.(US), Avitas Systems(US), PrecisionHawk(US). 'ABB Ltd.', 'Atmos International', 'Baker Hughes, a GE Company', 'Clampon AS', 'Emerson Electric Co.', 'FLIR Systems Inc.', 'Honeywell International Inc.', 'John Wood Group PLC', 'Krohne Group', 'PSI AG', 'Pergam Technical Services Inc.', 'Sensit Technologies LLC', 'Siemens AG', 'Synodon Inc.', 'Schneider Electric SE', 'Thermo Fisher Scientific Inc.', 'TUV SUD AG', 'Viper Innovations Ltd.', 'Yokogawa Electric Corp.', 'Zeus Intelligence'

In order to reduce the emission of volatile organic compounds (VOCs) and volatile hazardous air pollutants (VHAPs) from leaking machinery like pumps, valves, and connectors in sectors like petroleum refining and chemical manufacturing, the Environmental Protection Agency (EPA) has implemented LDAR regulations. The key drivers of market expansion are anticipated to be strict regulations and policies, as well as increased public awareness of the harmful impacts of greenhouse gas emissions on the planet.

Machine learning and Artificial Intelligence (AI) are widely used by gas emission monitoring firms to more effectively find leaks 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.

With a market share of 55% in 2021, North America dominated the industry. The existence of strict government laws and standards is responsible for the region's expansion. The U.S. pipeline leak detection rule mandates the installation of a leak detection system on pipelines carrying hazardous liquids. The U.S. government's support for the oil and gas industry is another factor in the industrial expansion of the nation. Leak detection and repair systems are so needed in the United States due to the expanding oil and gas sector. Government support for the oil and gas sectors is another factor fueling the expansion of the regional industry.