Services component segment is expected to be more lucrative for the global leak test equipment market
The global leak test equipment market is expected to reach US$ 778.5 Mn by 2026. The market is projected to expand at a CAGR of 7.46 % from 2018 to 2026.
According to the report, the global leak test equipment market is expected to be influenced by a range of factors such as rising applications of the leak test equipment across automotive, packaging, industrial, and medical & pharmaceutical industries and stringent leak testing procedures that are specified by a variety of standard organizations. Asia Pacific is likely to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 8% through 2026.
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Leak Test Equipment Market – Overview
Report provides analysis of the leak test equipment market for the period 2016 to 2026, wherein the years from 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information.
The report covers all the trends and technologies playing a major role in the expansion of the leak test equipment market during the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the expansion of the market during this period.
The study provides a holistic perspective on the expansion of the marketin terms of revenue and volume (in US$ Mn and Thousand Units) across different geographical regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America. Report highlights the key trends affecting the market on a global scale.
Furthermore, region-wise prominent countries/regions covered in the report include - The U.S., Canada, Germany, France, the U.K., India, China, Japan, GCC countries, South Africa, and Brazil.
This report analyzes and forecasts the market for leak test equipment at the global and regional level. The market has been forecasted based on revenue (US$ Mn) and volume (thousand units) from 2018 to 2026.
The study includes drivers and restraints of the global leak test equipment market. It also covers the impact of these drivers and restraints for leak test equipment during the forecast period.
Global Leak Test Equipment Market: Taxonomy
This research study . The hardware component segment is further bifurcated into detectors, sensors, accessories, and others. The services segment is further sub-segmented into calibration, training, repair/ maintenance, rental, and others.
Additionally, based on equipment type, the market is divided into portable and fixed leak test equipment. Based on end-use industry, the market is segmented into HVAC/R, automotive & transportation, medical & pharmaceutical, packaging, industrial, and others.
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Global Leak Test Equipment Market: Research Methodology
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, Factiva,.
Global Leak Test Equipment Market: Competitive Dynamics
The report includes well-established players such as Uson, L.P., Vacuum Instruments Corporation, LLC, CETA TESTSYSTEME GmbH, ATEQ Corp., InterTech Development Company, LACO Technologies, and INFICON. These are some of the well-established players innovating novel leak test equipment and methods.
For instance, in December 2017, LACO Technologies developed a novel “Force Decay” leak test method in order to detect leaks in sealed packaging products. The company designed a test chamber in order to check internal pressure on the package.
If the package has a large leak, it is expected to deflate rapidly and for the smaller leaks, it is likely to deflate slowly. Further, In November 2017, Uson, L.P.
announced the launch of a novel industrial-grade 628, a disparity pressure decay leak tester. The new leak tester combines the registered disparity pressure measurement technology in a compressed industrial form factor to help users identify defects in the product before the fabrication process.
Global Leak Test Equipment Market
Global Leak Test Equipment Market, by Component
Global Leak Test Equipment Market, by Equipment Type
Global Leak Test Equipment Market, by End-use Industry
- Automotive & Transportation
- Medical & Pharmaceutical
Global Leak Test Equipment market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
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