According to the recent market research report published by Growth Market Reports titled, “Global Leak Tester Market by Types, Applications, and Regions: Size, Share, Trends, and Opportunity Analysis, 2019-2027”, the global market was valued at USD 427.9 Million in 2019 and is estimated to expand at a CAGR of 9.5% between 2020 and 2027.
Increasing usage of leak tester in various fields, such as automotive, manufacturing, packaging, and healthcare is anticipated to drive the global leak tester market. Leak tester are capable of performing numerous industry specific tests such as electronic gas detection, colorimetric development, bubble testing, mass flow, mass spectrometry, hydrogen leak detection, and ultrasonic leak testing.
The global leak tester market is driven by the increase in investments in offshore energy resources. Moreover, rising demand for proper leak detection between industries to avoid possible disasters and accidents is creating growth opportunities in the global leak tester market. Additionally, growing demand for effective leak testing techniques to prevent future disasters and incidents and increasing implementation of strict government protection regulations are expected to further propel the market.
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Leak testing is a method used to identify manufacturing defects that help verify product integrity and improve consumer protection. For example, the automotive industry consistently uses leak tester to ensure that assembly operations have been efficiently performed and subcomponents are leak-free.
As per the Growth Market Reports industry analyst Vidya Jadhav, “The global leak tester market is anticipated to grow significantly during the forecast period, from 2020-2027. A significant number of automotive manufacturers across the globe rely on high quality leak test equipment to detect flaws in automotive components or goods. Manufacturing faulty goods can prove costly, as they result increased the claims for warranty and a threat to public safety. Leak Tester are implemented for robust leak testing procedures by government agencies and other industries with sensitive work environments. This is expected to propel the market in the coming years.”