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Leak Detection and Repair (LDAR) Market is Expected to Grow at an Estimated CAGR of 5.4% during 2019-2025 | Grand View Research, Inc.

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Leak Detection and Repair (LDAR) Market is Expected to Grow at an Estimated CAGR of 5.4% during 2019-2025 | Grand View Research, Inc.

September 05
09:51 2019
Leak Detection and Repair (LDAR) Market is Expected to Grow at an Estimated CAGR of 5.4% during 2019-2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global leak detection and repair market size was valued at USD 16.15 billion in 2017. It is likely to expand at a CAGR of 5.4% from 2018 to 2025.

The global leak detection and repair market size is anticipated to reach USD 24.47 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.4% during the forecast period. Leaking equipment, pumps, valves, and connectors in the oil & gas industry are the major sources of volatile hazardous air pollutants (VHAP) and volatile organic compounds (VOC) emissions. EPA has laid down LDAR regulations for monitoring of such equipment for possible leakages. An LDAR program is a system of procedures that help to reduce emission of VOCs and VHAPs. This program conducts audits of all components in the oil and gas industries and detects changes, if any, such as changes in gas emission level or temperature level.

Methane is a dominant greenhouse pollutant and is considered 80 times more powerful and harmful than carbon dioxide, a major greenhouse gas. In addition, methane contributes approximately 25.0% to global warming. Hence, various governments are introducing regulations and initiatives to reduce methane emissions.

Apart from government initiatives, various oil and gas producers, transmission, and distribution companies in the U.S. are actively collaborating to devise measures and deploy systems to reduce methane emission. Our Nation’s Energy Future (ONE Future) initiative was formed by 8 major U.S. companies (including Southwestern Energy, BHP Billiton Ltd., and Apache Corp.) in 2014 with an emphasis on collectively achieving methane emissions to one percent (or less) of the total natural gas production. Moreover, developments in oil and gas pipeline in countries in Asia Pacific such as China and India, due to rising energy demand, are expected to boost the growth of the market over the forecast period.

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/leak-detection-repair-ldar-market

U.S. Leak Detection and Repair (LDAR) market, by technology, 2014 - 2025 (USD Billion)

Both portable and fixed gas leak detection systems are used to detect leaks in the oil and gas industry. Currently, most of the oil and gas pipelines are equipped with flow rate measurement sensors. In case of a leak, sensors detect drops in pressure. However, according to a report by the U.S. Department of Transportation, these sensors are successful in detecting leaks only around 40.0% of the time.

Further key findings from the report suggest:

  • Low-cost operation, high accuracy, and sensitivity in leak detection, environmental concerns regarding emission of harmful greenhouse gases, and support provided by governments and regional associations are among the primary growth stimulants for the market
  • Presence of the largest oil and gas pipeline network and concentration of major oil and gas producing and refining companies in North America are expected to offer a high-potential market for the deployment of gas leak detection, monitoring, and repair systems over the forecast period
  • Major American and European oil & gas companies are focusing on increasing their presence in Asia Pacific through acquisitions and investments
  • National oil companies in APAC such as Oil and Natural Gas Corporation, China National Offshore Oil Corporation, and Petronas are also expanding their operations to capitalize on the region’s rapidly growing market
  • Latin American Energy Organization (OLADE) is focusing on development of natural gas-based energy generation infrastructure through public-private partnerships. Natural gas is expected to play a vital role in the development.

Canada leak detection and repair (LDAR) market share, by product, 2017 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/5688/ibb

Key Topics Covered 

Chapter 1 Methodology and Scope
                   1.1 Research Methodology
                   1.2 Research Scope and Assumptions
                   1.3 List of Data Sources
Chapter 2 Executive Summary
                   2.1 Leak Detection and Repair (LDAR) Market – Industry Snapshot & Key Buying Criteria, 2014 – 2025
                   2.2 Global Leak Detection And Repair (LDAR) Market, 2014-2025
                       2.2.1 Leak detection and repair market, by region, 2014 – 2025
                       2.2.2 Leak detection and repair market, by component, 2014 – 2025
                       2.2.3 Leak detection and repair market, by product, 2014 – 2025
                       2.2.4 Leak detection and repair market, by technology, 2014 – 2025
Chapter 3 Leak Detection And Repair (LDAR) Industry Outlook
                   3.1 Market Segmentation & Scope
                   3.2 Leak Detection and Repair (LDAR) Market Dynamics
                       3.2.1 Market driver analysis
                           3.2.1.1 Increasing oil and gas pipeline infrastructure
                           3.2.1.2 Stringent government regulations to curb methane emissions
                           3.2.1.3 Increased adoption of natural gas-based power plants
                       3.2.2 Market restraint analysis
                           3.2.2.1 Challenges involved in leak detection in harsh environmental conditions
                           3.2.2.2 The oil and gas upstream segment forges ahead with cost cutting
                       3.2.3 Market challenge analysis
                           3.2.3.1 Multiple components’ leaks add to increased complexity in detection
                           3.2.3.2 Global focus on the development of renewable energy generation projects
                   3.3 Market Size and Growth Prospects
                   3.4 Leak Detection and Repair (LDAR) – Porter’s Five Forces Analysis
                   3.5 Leak Detection and Repair (LDAR) Market – Company Ranking Analysis, 2017
                   3.6 Technology Landscape
                   3.7 Leak Detection and Repair (LDAR) – Key Element Analysis
                       3.7.1 Elements of an LDAR Program
                   3.8 List of Major Oil and Gas Projects in North America
                   3.9 Leak Detection and Repair (LDAR) Market – Regulatory Landscape
                   3.10 List of LDAR Service Providers in the U.S.
Chapter 4 Leak Detection And Repair (LDAR) Product Outlook
                   4.1 Leak Detection and Repair Market Share by Product, 2017 & 2025
                   4.2 Handheld gas detectors
                       4.2.1 Handheld gas detectors in leak detection and repair market, 2014 – 2025
                   4.3 UAV-Based Detectors
                       4.3.1 UAV-based detectors in leak detection and repair market, 2014 – 2025
                   4.4 Vehicle-based Detectors
                       4.4.1 Vehicle-based detectors in leak detection and repair market, 2014 – 2025
                   4.5 Manned Aircraft Detectors
                       4.5.1 Manned aircraft detectors in leak detection and repair market, 2014 – 2025…….continue..

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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