According to a recently released analysis by Fact.MR, a supplier of market research and competitive information, the global helium leak detection system market is currently valued at US$ 765.2 Mn and is anticipated to grow at a remarkable CAGR of 5.8% from 2021 to 2031.
Between 2016 and 2020, the market experienced yearly growth of 4.3%. Fact.MR believes that the market has a lot of potential because of the expanding industrial automation and equipment sector.
Businesses in the industrial automation and equipment sector still operate in a fiercely competitive environment. Players in the industrial automation and equipment landscape are being influenced by changes in end-user demand to optimise their manufacturing processes. Sales of automobiles, the oil and gas sector, and the agriculture sector have all increased, which has
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Market Segments Covered in Helium Leak Detection Systems Industry Research
- By Chamber
- Single Chamber Helium Leak Detection Systems
- Double Chamber Helium Leak Detection Systems
- Multi Chamber Helium Leak Detection Systems
- By End User
- Helium Leak Detection Systems for Automotive
- Helium Leak Detection Systems for Aerospace & Aeronautics
- Helium Leak Detection Systems for Construction
- Helium Leak Detection Systems for F&B Equipment
- Helium Leak Detection Systems for Utility Components
- Helium Leak Detection Systems for Pharmaceuticals
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Key Takeaways from Market Study
- Double chamber segment is likely to witness sales of US$ 717.1 Mn by 2031.
- Based on region, demand for helium leak detection systems is expected to expand at CAGRs of 6.8% and 3.7% in the Middle East & Africa and Latin American regions, respectively, over the forecast period.
- Based on end use, the automotive and construction segments are anticipated to hold market shares of 20.5% and 6.3% by 2031, respectively.
- The market in Europe is expected to be valued at US$ 245.3 Mn by 2031.
- Together, North America and Europe represent over 46% of overall market share.
To increase penetration across profitable areas, key helium leak detection system providers are selling high-quality helium leak detection systems, which could be applicable for several types of end users. Market participants have developed a standardized process for product development in accordance to regulatory bodies to capture market share through exports.
Moreover, emphasis given on the combination of organic and inorganic approaches along with new product launches has been primarily adopted by market frontrunners dealing in helium leak detection devices.
Some of the recent market developments are:
- In 2019, Leak Detection Associates (LDA) launched new type of custom-built helium leak detection system – SIMS Model 1915+. This has a revised configuration and interface in pump, precisely proposed for biotech/pharma package testing to meet the stringent requirements of clients.
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Manufacturers are focusing on increasing their footprint in developing countries, where stringency in regulations has led to spurt in demand. Improving the signal processing and sensitivity of these detectors remains a key focus area for manufacturers. Developing robust distribution networks to cater to untapped regions while having limited margin leakage in established markets is the strategy being adopted by market participants to capture a higher market share.