NEW YORK, June 25, 2021 /PRNewswire/ — The North American region is expected to lead the leak detection market for the oil and gas industry with 41% of the market’s growth during 2020-2024. The US is a key market for the leak detection market for the oil and gas industry in North America and is expected to offer several growth opportunities to market vendors during the forecast period, says Technavio, a leading market research company.
Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment.
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Technavio’s report on “Leak Detection Market for Oil and Gas Industry by Product, End-user, and Geography – Forecast and Analysis 2020-2024” reveals that the market has the potential to reach USD 817.56 million, progressing at a CAGR of almost 6%.
Leading Regions Analysis of Leak Detection Market for Oil and Gas Industry during 2020-2024:
Technavio identifies Europe as the second-highest country, where the market size of the leak detection market for the oil and gas industry will have the potential to reach USD 761.68 million by 2024. Government initiatives will drive the growth of the leak detection market for the oil and gas industry in Europe during the forecast period.
APAC will be the third-highest country, where the market size of the leak detection market for the oil and gas industry will have the potential to reach USD 736.1 million by 2024. The growth of the leak detection market for the oil and gas industry can be attributed to the developments in the oil and gas pipeline segment, LNG, and the petrochemical sector in countries such as India, China, South Korea, Indonesia, and Thailand during the forecast period.
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Leak Detection Market in Oil & Gas Equipment & Services Industry during 2020-2024: Vendor Analysis and Scope
To help businesses improve their market position, the leak detection market for oil and gas industry report provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Emerson Electric Co., FLIR Systems Inc., Honeywell International Inc., nVent Electric Plc, Pentair Plc, Perma-Pipe International Holdings Inc., Schneider Electric SE, Siemens AG, SONOTEC GmbH, and Xylem Inc.
The report also covers the following areas:
- Leak Detection Market for Oil and Gas Industry size
- Leak Detection Market for Oil and Gas Industry trends
- Leak Detection Market for Oil and Gas Industry analysis
Key Topics Covered
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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