Updated Report: Leak Test Equipment Market To 2026 Excellent Quality, Versatility, And Range Of Potential Applications

The global leak test equipment market was valued at US$ 377.0 Mn in 2016 and is projected to expand at a cumulative annual growth rate (CAGR) of 7.4% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Leak Test Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. The report suggests that expansion of the global automotive, medical & pharmaceutical, and packaging industries along with increasingly stringent regulations pertaining to leakages is likely to spur the demand for leak test equipment during the forecast period (2018 to 2026).

North America, Europe, and Asia Pacific are likely to dominate the global leak test equipment market, as key players introduce their new leak test equipment in these regions. Rising demand for leak test equipment from the expanding packaging industry in emerging markets such as China and India is likely to boost of the leak test equipment market in Asia Pacific at a CAGR of 8.4% from 2018 to 2026.

Significant expansion of the automotive & transportation end-use industry, making it highly lucrative to invest in

Based on end-use industry, the leak test equipment market is segmented into HVAC/R, automotive & transportation, medical & pharmaceutical, packaging, industrial, and others. The others end-use industry segment includes aerospace & defense and power & energy end-use industries. The automotive & transportation segment is expected to expand at a CAGR of more than 7% during the forecast period.

A large number of automotive manufacturers around the globe rely on higher quality leak test equipment to find defects in automotive components or products. Manufacturing defective products can prove costly, as it results in increasing warranty claims and endangering safety of the consumer. The leak testing procedures for the automotive are primarily defined by different standard organizations including the American Society for Testing and Materials and the Society of Automotive Engineers.

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Key players such as INFICON, Pfeiffer Vacuum GmbH, Uson, L.P., and ATEQ Corp. among others are likely to lead the global leak test equipment market

Uson, L.P., Vacuum Instruments Corporation, LLC, Pfeiffer Vacuum GmbH, CETA TESTSYSTEME GmbH, ATEQ Corp., InterTech Development Company, LACO Technologies, and INFICON are some of the major players operating in the global leak test equipment market profiled in this study. Various players are providing novel leak test equipment to detect manufacturing defects, which helps validate the product’s integrity in order to improve safety of the customer.

Moreover, market players are establishing partnerships, entering into strategic M&As, and expanding in order to enhance their leak test equipment offerings worldwide. For instance, in February 2017, Pfeiffer Vacuum GmbH announced the acquisition of the supplier of industrial leak and flow test product named, “Advanced Test Concepts” (ATC), Inc. This acquisition is expected to help both companies enhance their leak testing capabilities and help provide superior quality products to customers.