Leak Detection Systems Market to Grow Over 70% by 2032, Driven by Oil & Gas and Environmental Focus
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Market worth $4.7 billion in 2022, projected to reach $8.2 billion by 2032 with 5.6% CAGR.
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Driven by increasing demand for leak detection and repair systems, growth in oil & gas industry, environmental protection focus.
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Acoustic/ultrasound technology segment dominates with over 20% market share but fiber optic to see fastest 8% CAGR.
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Oil and gas top end-user holding 1/3rd market share, but water treatment plants to see fastest 7.9% CAGR.
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North America accounted for over 1/3rd of leak detection revenue in 2022, but Asia-Pacific to see fastest 7.8% CAGR.