The global Leak detection & repair market is anticipated to witness a high CAGR over the forecast period 2019 to 2026, owing to complete study on market size, segment/s size, growth factors, market demand, trends, restraints and profiling of key players. The market drivers and analysis within the report are backed by recent and prevailing market conditions led with clear projections for the forecast period.
The Leak detection & repair market size reveals a high growth as oil and gas companies encounter leakage on a frequent basis, hence lead detection techniques followed by repair procedures form an integral component of oil and gas sector.
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In the oil and gas sector, gas leakage has been a major problem by which companies face a billion-dollar loss every consecutive year. As gas production is on rise subject to deep exploration, resulting VOCs sum up in huge quantities. Within EPA guidelines, it has also been observed that pumps, valves and connectors form the largest source of VOC emissions. For instance, EPA estimates that around 71 tons of VOCs are emitted through equipment leakage in the atmosphere. In addition, the ratio of equipment leaks is higher to the ratio of storage leaks.
As a counter measure, facilities can control the equipment leakage under an LDAR program (Leak Detection and Repair) by replacing leaking equipment with leakless components or using both of them within a combination. To enable this approach, it is needed that modification for the equipment and component is to be conducted that encompasses leaks from open-end lines and sampling connections. The use of sealless pumps and leakless valves for emissions can significantly minimize the emission from pumps and valves.
Leak detection is process which is specially designed to check whether there is some leakage in the pipe which consists of gases and liquids.
Environmental Protection Agency has created many LDAR regulations so that they can prevent the leakage of dangerous gases and liquid from different industries.
LDAR program is there whose main function is to repair these leakages from pumps, connector, valves, pipes and others.
Some of the common products of the LDAR are vehicle based detector, manned aircraft detector, handheld gas detectors and UAV based detector.
There main function is to protect the environment from these hazardous gases and liquids.Global leak detection and repair market is set to witness a substantial CAGR of 5.65% in the forecast period of 2019-2026.
The report contains data of the base year 2018 and historic year 2017.
