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(Transportation-News.com, August 29, 2018 ) Industry Outlook and Trend Analysis
The Leak Test Equipment Market has encountered significant development in the recent years and is foreseen to grow tremendously over the forecast period. Leak testing is a procedure used to recognize fabricating defects which checks the integrity of products and enhance the safety of the buyer. For instance, the automotive sector reliably uses leak testing to confirm that get assembly operations were completed appropriately and subcomponents are leak free. The choice of the detection process relies upon which method is ideal for the current framework. When systems incorporate a metallic containment, leaks may happen because of the encasing material becoming corroded. Thusly, spill testing may likewise bring about the identification of a corrosion issue.
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Component Outlook and Trend Analysis
Based on components, the worldwide leak test equipment market is bifurcated into software, hardware, and services. The services fragment is anticipated to grow significantly over the forecast period. The calibration sub-fragment of the services portion is foreseen to extend at a critical CAGR amid the estimate time frame. The leak test equipment must be calibrated, as it helps in comprehending the rate of spillage. Moreover, calibration services are exceedingly imperative, as they enable break to test gear to comply with industry standards as well as leak tightness specification.
Equipment Type Outlook and Trend Analysis
The portable equipment type segment is anticipated to hold a higher share of the market, attributable to the increasing demand for portable leak test equipment. The portable leak test equipment can be used for leak detection both, on location, i.e., on the premises of the organization, and over an assortment of remote areas around the world. Various well-established players are observing a rise in demand for the portable type leak test equipment.
End User Outlook and Trend Analysis
An expansive number of automotive manufacturers around the world depend on higher quality leak test equipment to discover defects in the automotive components including engine blocks, brakes, power steering, and emission control. Manufacturing defective products can be expensive, as it brings about expanding warranty claims and imperilling safety of the buyer.
Regional Outlook and Trend Analysis
North America is anticipated to hold a higher share of the leak test equipment market amid the figure time frame. The extension is because of the existence of well-established players over the locale, particularly over the U.S. and Canada. The market in Europe is anticipated to grow at a critical CAGR amid the figure time frame. The extension is credited to the lawful activities taken by the European Union to decrease the overall leakage.
Competitive Insights
The leading players in the market are ATEQ Corp, Inficon, CETA Testsysteme GmbH, LACO Technologies Inc, Uson, InterTech Development Company and Vacuum Instruments Corporation. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Leak Test Equipment Market is segmented as follows-
By Component:
Hardware
Software
Services
By Equipment Type:
Fixed
Portable
By End User:
Automotive & Transportation
Packaging
HVAC/R
Medical & Pharmaceutical
Industrial
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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