Market Trends of Global Leak Test Equipment Industry
This section covers the major market trends shaping the Leak Test Equipment Market according to our research experts:
Demand from Oil and Gas Industry Driving the Market
Many countries are concentrating their efforts on constructing oil and gas pipeline networks since they are the safest and most cost-effective means of transportation. Pipelines allow oil and gas to be transported safely and efficiently through urban areas with little impediments. For speedier transportation of hydrocarbons, multiple cross-country oil and gas pipelines are being proposed. They are anticipated to drive the market for Leak Test Equipment Market forward. High temperature and pressure, as well as corrosion conditions, can cause leaks. Corrosion of pipelines and tanker vessels is caused by the presence of oxygen, water, carbon dioxide, and hydrogen sulphide in crude oil and natural gas. Corrosion can occur both within and outside. Internal corrosion is induced by natural gas and crude oil ingredients, whereas external corrosion is mostly driven by temperature changes and rainfall, among other natural elements. Increased concerns regarding the emission of harmful greenhouse gases, expansion of oil & gas pipeline infrastructure, and stringent government rules & regulations, and policies are major drivers for the growth of the market.
Globally, approximately 217 upcoming pipeline projects are in the construction stage and are likely to start operations from 2022 to 2026. According to industry report a total of 524 new-build trunk/transmission pipelines projects are expected to start operations from 2022 to 2026. Of these, 376 represent gas pipelines projects, 67 constitute oil pipelines, 65 projects belong to product pipelines, and 16 account for Natural Gas Liquids (NGL) pipelines. Asia dominates globally with the highest number of pipeline projects (151) by 2026. North America and Europe follow with 108 and 82 pipeline projects, respectively.
The US leads among the countries globally, with 75 pipeline projects expected to start operations by 2026. India and Australia follow with 57 and 28 pipeline projects, respectively.
Growth of Leak Test Equipment in Automobile Industry:
Finding and irradiating leaks is critical for the automotive industry; it affects not just initial car quality, which is tested, recorded, and marked for consumers by a variety of organizations, but also overall product lifecycle quality and lifetime. A leak detection test is performed throughout the manufacturing process, but after the vehicle has been constructed with all of the parts in the air-conditioning and fuel systems, a final check is necessary on the final assembly line.
The detection of fuel and air-conditioning system leakage is critical for safety and regulatory steps conducted before the vehicle leaves the production line. Whether it's a passenger car, a truck, or a farm vehicle, testing these systems is heavily controlled. The various parts of the vehicle that needs to be tested come with a wide range of leak rate requirements. Due to stricter regulations in regard to emission, fuel components they need to be leak tested with higher sensitivities. The modern leak testing machines now come with digital components for the ever-rising automobile industry.
In 2021, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Till November 2021, over 73 million cars have been produced by the world's manufacturers.
