Global Leak Test Equipment Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Leak Test Equipment are used to find various defects in the manufacturing of pipelines and storage tanks by industries. It is a set of tools that checks the quality of the product in which the oil, chemical, gas, and other materials are stored and transported. It ensures the workers' safety from hazardous industrial accidents. Stringent government regulations towards labors safety are likely to enhance the market growth in the forecast period. According to the International Labor Standards in 2020, the ILO has adopted and implemented around 40 standards that ensure the safety of employees working in various industries such as mines, construction, oil and gas, etc. It includes Hygiene (Commerce and Offices) Convention, Safety and Health in Construction Convention, Occupational Safety and Health (Dock Work) Convention, Working Environment (Air Pollution, Noise and Vibration) Convention, Safety and Health in Agriculture Convention, Chemicals Convention, and Safety in the Working Environment, etc. Rising awareness of personal safety is another major factor boosting the market growth during the forecast period. Whereas, increasing investment towards safety and favorable initiatives by market players creates lucrative opportunities for the market. However, threat of substitutes impedes the market growth over the forecast period.
The key regions considered for the global Leak Test Equipment market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is projected as the leading region across the world in terms of huge market share due to the presence of market players and expansion of end-user industries such as automotive, oil and gas, etc. Whereas Asia-Pacific is also estimated to attain maximum growth rate during the forecast period Factors such rising stringent government regulations towards safety, rising awareness, and increasing investment by private and government towards labor safety at workplaces would create beneficial growth forecasts for the market across Asia-Pacific region.
Major market players included in this report are:
ATEQ Corp.
Pfeiffer Vacuum GmbH
LACO Technologies Inc.
InterTech Development Company
Cosmo Instrument Ltd.
TASI Group
Inficon
CETA Testsysteme GmbH
Uson L.P.
HaiRuiSi Automation Technology Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Pressure Decay Testing Equipment
Mass Flow Leak Testing Equipment
By End-User:
HVAC/R
Automotive & Transportation
Medical & Pharmaceutical
Packaging
Industrial & Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Leak Test Equipment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
