Leak Detection And Repair Market Size, Share & Trends Analysis Report By Component (Services, Equipment), By Technology (VOC Analyzer, OGI), By Product, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the leak detection and repair market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for leak detection and repair market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of leak detection and repair market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Leak Detection And Repair Market Categorization:

The leak detection and repair market was categorized into four segments, namely component (Equipment, Services), product (Handheld Gas Detectors, UAV-Based Detectors, Vehicle-based Detectors, Manned Aircraft Detectors), technology (Volatile, Organic Compounds (VOC) Analyzer, Optical Gas Imaging (OGI), Laser Absorption Spectroscopy, Ambient/Mobile Leak Monitoring, Acoustic Leak Detection, Audio-Visual-Olfactory Inspection), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The leak detection and repair market was segmented into component, product, technology, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The leak detection and repair market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Canada; the UK.; Germany; Russia; China; India; Japan; Brazil; Mexico; and Venezuela.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Leak detection and repair market companies & financials:

The leak detection and repair market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Aeris Technologies, Inc. - Aeris Technologies, Inc. is a developer of laser-based gas analyzers and leak detection solutions for applications in industrial process control, laboratory analysis, and environmental monitoring. The company is involved in the development of high-performance instruments and the design of laser spectroscopy devices. The company majorly focuses on providing its gas and leak detection solutions to the oil & gas industry.

• IBM Thomas J. Watson Research Center - IBM Thomas J. Watson Research Center is a U.S.-based research facility and also serves as the headquarters of IBM Research. IBM Research operates 12 labs across the globe. T.J. Watson Research Center focuses on the research and development of disruptive technologies in the areas of artificial intelligence, quantum computing, and Blockchain. The research serves to address many of the world’s complex problems in various industrial sectors, such as information technology, electronics, and manufacturing.

• Bridger Photonics, Inc. - Bridger Photonics, Inc. is a U.S.-based research firm and manufacturer of distance measurement and gas detection systems for industrial and commercial applications. The company has also developed an advanced high-resolution 3D imager for the defense & security industry. It has leveraged government contracts and grants to develop its distance measurement technology. It is also working on the swept laser technology to provide gas detection and concentration measurement systems under the ARPA-E Monitor program and has been allocated a budget of approximately USD 2.6 million.

• LI-COR, Inc. - LI-COR, Inc. is a U.S.-based private research firm and manufacturer of scientific instruments in the areas of drug discovery, global climate change, and life and environmental sciences. The company has subsidiaries located in the U.K. and Germany. The company’s carbon dioxide gas analyzers are mainly used for measuring and analyzing climate change, whereas its methane gas detection systems find major applications in the oil & gas industry.

• Duke University - Duke University is a U.S.-based private research university. It also has a marine lab located in Beaufort, South Carolina. Duke University has partnered with RTI International to identify the potential technology transfer strategies or spin-off companies. RTI International specializes in the commercialization of early-stage technology-based solutions

• Colorado State University - Colorado State University (CSU) is a U.S.-based public research university. The university presently has approximately 2,000 faculty members across 55 academic departments and eight colleges. The development of gas detection technologies is aimed at helping reduce the overall impact of greenhouse gases on the environment. The data generated during the tests would facilitate the capability assessment of the technologies and be used by the MONITOR teams to accelerate their commercial adoption.

• Palo Alto Research Center - Palo Alto Research Center (PARC) is a U.S.-based hardware and information technology research and development company. It was established in 1970 as a separate division of Xerox Corporation. PARC is well-known for the development of technologies such as Ethernet, laser printing, object-oriented programming, development of Graphical User Interface (GUI) electronic paper, desktop paradigm, ubiquitous computing, amorphous silicon applications, personal computers, and Very-Large-Scale Integration (VLSI) for semiconductors.

• Maxion Technologies Inc. - Maxion Technologies Inc. is a U.S.-based development and commercialization company specializing in infrared semiconductor lasers. It sells Quantum Cascade (QC) and Interband Cascade (IC) lasers to organizations and governments. The company was established in 2000. Its laser products are being used in the development of products and solutions in areas such as military communications, homeland security, chemical warfare agent detection, infrared countermeasures, explosives detection, industrial process control, medical diagnostics, remote gas leak detection, real-time combustion controls, and pollution monitoring.

• Rebellion Photonics Inc. - Rebellion Photonics Inc. is a U.S.-based manufacturer of hyperspectral imaging technology. The company’s technology facilitates real-time identification and quantification of gas. Its Gas Cloud Imaging (GCI) system is based on its proprietary hyperspectral imaging technology with advanced detection algorithms and can accurately detect the source and measure the concentration and volume of gas leakage. This leak detection and monitoring technology is expected to find usage in a variety of oil & gas and chemical industry applications.

• Physical Sciences, Inc. - Physical Sciences, Inc. is a U.S.-based provider of contract research and development services. It provides innovative products and technology solutions to various government agencies and commercial organizations. It specializes in lasers, sensors, algorithms, and instruments for industries such as medical, aerospace & defense, and oil & gas. It also plays an important role in the commercialization of products and solutions for its clients. It has three wholly-owned subsidiaries, namely Faraday Technology, Inc.; Q-Peak, Inc.; and Research Support Instruments, which provide on-site support, research and development services, and laser technology to companies in the U.S.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Leak Detection And Repair Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Leak Detection And Repair Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.