Leak Testers Market Size, Share, Growth, And Industry Analysis, By Type (Portable Leak Tester, Compact Leak Tester and Stationary Leak Tester), By Application (Industrial, Automotive, Medical, HVAC/R, Laboratories and Energy), Regional Forecast By 2031

Leak Testers Market Report Overview

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The global leak testers market size was USD 317.9 million in 2022 & the market is expected to reach USD 447.82 million in 2031, exhibiting a CAGR of 3.9% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the leak testers market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Before sending something to a client or using it, it is a good idea to run industry-required tests to look for leaks. The precision of testers compared to conventional methods has increased demand in recent years. Producers of leak equipment are putting more and more emphasis on integrating cutting-edge technologies to increase sales and snag the largest possible share of the market. Due to the growing scarcity of helium gas, a large number of sectors depend on helium testers.  At this time, the three main types of testers are portable, stationary and compact leak testers. End-users come from a variety of business sectors, including the automobile, healthcare, HVAC, labs, and power.

The rapid expansion of the oil & gas industry, rising expenditures in offshore power generation, and rising demand for effective leak detection in the industry are what are propelling the global market for leak testers. The business is also being helped forward by the growing demand for efficient leak detection methods to avert potential catastrophes and mishaps. With a few producers accounting for more than 50% of the entire market share in the worldwide tester market, including INFICON, VIC Leak Detection, and Cosmo Instruments, the structure of the leak equipment is rather concentrated.

COVID-19 Impact: Temporary Suspension of Commercial & Industrial Activities Decreased the Need for the Testers

The worldwide economic environment has been severely disrupted by the coronavirus pandemic, which has resulted in significant losses incurred for the businesses involved in this particular sector. Testers are widely used in industrial processes to ensure protection from oil or gas leaks, which frequently result in hazardous incidents or risks. But at the start of the year, governments all around the world implemented strict social isolation and lockdown restrictions due to growing worries about the coronavirus spreading. As a result, the majority of commercial and industrial activity were temporarily suspended. As a result, during the outbreak, the need for the testers substantially decreased, which hindered the expansion of the global market.

Latest Trends

"Latest Model of Portable Testers Introduced Offer a Variety of Capabilities "

The players of the market are constantly involved in developing new products to cater to their customers as well as increase their market share. For instance, advanced models of portable testers are available from Pfeiffer Vacuum, one of the top producers of testers. The firm's portable tester, the ASM310, contains a removable control panel, a touchpad with a graphic representation, SD card storage space, a programmable menu, and a number of additional capabilities.

Leak Testers Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Portable Leak Tester, Compact Leak Tester and Stationary Leak Tester

• By Application Analysis

Based on application, the market can be divided into Industrial, Automotive, Medical, HVAC/R, Laboratories and Energy

Driving Factors

"Technological Improvements and Development of NDT has Increased the Need for these Testers"

Technology improvements in sensors, semiconductors, valves, and other areas have increased the need for leak testers and increased its sensitivity and NDT method capability. Due to developments in NDT, it is now possible to quickly and easily find leaks in pressurized gas, inert gas, and vacuum systems using ultrasound testers technologies. With all of these improvements, testing has become quicker and more precise, and they have also assisted businesses in raising the standard of their industrial operations and total output.

"Growing Utilization in the Automobile Sector is Driving the Growth of the Industry "

Leak test methods of the highest caliber are used by many automakers all over the world to identify flaws in automobile parts or goods. This is due to the fact that several components must be leak-checked in order to maintain environmental regulations, security, and functionality. Before the car exits the assembly line, finding gasoline and air-conditioning system leaks is essential for safety and compliance measures. Additionally, standardized organizations such as the American Society for Testing and Materials and the Society of Automobile Engineers establish specific leak testing protocols for the automotive industry. As a result of stronger laws surrounding pollutants, fuel element breaches, HVAC system leaks, as well as other increased sensitivities about leakages, the automotive industry is anticipated to dominate the market for leak testers in the upcoming years.

Restraining Factors

"High Costs and Lack of Technical Knowledge are Factors Slowing Down the Market"

The price of sophisticated leak equipment may be a significant barrier limiting the market's expansion. For small to medium-sized businesses, these equipment can be prohibitively expensive to buy and operate as they are frequently highly specialized. In addition, many end users might not have the technical knowledge and training that these testers need. This may result in inaccurate outcomes and diminished effectiveness, which may restrict acceptance and slow the leak testers market growth.

Leak Testers Market Regional Insights

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"Presence of Major Firms and Expansion of the Automobile Sector Helped North America to Dominate the Market"

The market for these testers worldwide was dominated by North America in terms of value. There are established businesses in the US and Canada, which accounts for the significant leak testers market share. ATEQ Corporation, InterTech Development Company, and LACO Technologies are among the companies that operate in the testers sector and are based in North America. Furthermore, North America has a high rate of acceptance of leak tests as a result of the region's stable expansion of the automobile sector. To meet the growing need for such testers from various sectors, numerous businesses across the US are developing technologically cutting-edge next generational leak testing services.

Key Industry Players

"Key Players Focus on Variety of Growth Methods to Increase their Market Share"

There are several significant companies in the fragmented, fiercely competitive market for testers. A few dominant organizations control the largest portion of the market share, and over the predicted period, there won't be many new entrants. The leading players are using a variety of growth methods, including new products, mergers, and partnerships, to fuel the global market for testers.

LIST OF TOP LEAK TESTERS COMPANIES

• ATEQ (U.S.)
• INFICON (Switzerland)
• Cosmo Instruments (India)
• VIC Leak Detection (U.S.)
• Uson (U.S.)
• Hermann Sewerin (Germany)
• TASI (Finland)
• InterTech (U.S.)

Report Coverage

This report covers the leak testers market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.