A new report is predicting a 31% global increase in the business of detecting and repairing leaks in the oil and gas sector by the end of the decade. (Source: Shutterstock)
A new report is predicting a 31% global increase in the business of detecting and repairing leaks, particularly in the oil and gas sector, by the end of the decade.
“The global leak detection and repair market value stood at $20.67 billion in 2023 and is expected to reach $27.15 billion by 2029,” said a press release by ResearchAndMarkets.com that summarized the report.
Since the start of the decade, the detecting and repairing leaks business has been driven by both expanding energy demand and the desire of energy companies and governments to cut emissions, the report says, especially as more entities have turned to natural gas as a means of energy supply.
Deadal Research, a consulting firm based in India, compiled the report.
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