The hydrostatic testing market, as considered under the scope of the report, includes the market sizing only for hydrostatic testing equipment such as pumps, pressure gauges (master gauges and backup gauges), pressure relief valves and others (pressure plugs, etc.). Moreover, the overview of the global hydrostatic testing services market is also covered separately under a section of the report.
The global hydrostatic testing market is estimated to be valued at US$ 489.5 Mn by 2018 end and is expected to reach US$ 771.9 Mn by the end of 2028, while expanding at a CAGR of 4.7% over the forecast period. The global hydrostatic testing market is anticipated to represent an incremental opportunity of US$ 282.4 Mn between 2018 and 2028.
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Hydrostatic testing is a way to ascertain strength and leaks in pressure vessels such as pipelines, gas cylinders, boilers, and fuel tanks. In the pipeline industry, hydrostatic testing presents unique safety, environmental and community liaison challenges. However, outside the pipeline industry, there is considerably lean understanding of hydrostatic pressure testing of existing pipelines.
Growing investments across the value chain of the oil & gas industry towards pipeline safety are among the key factors likely to support the demand for pipeline pressure testing equipment across the globe, which in turn is expected to drive the global hydrostatic testing market. Moreover, the increasing production of oil & gas across European countries such as France and Germany is expected to surge the demand for hydrostatic testing equipment in the near future.
Major Key Players:
Some of the leading market players in the global hydrostatic testing market include Cosmo Instruments Co., Ltd., Galiso Inc., Hydro-Test Products, Inc., Greene’s Energy Group, International Pipeline Products Limited, H. Lorimer Corp., JM Test Systems, Pumps Australia Pty Ltd., Rice HYDRO, Resato International B.V., China Joy Machinery and Equipment Limited, Petersen Products Co., Cat Pumps, Curtiss-Wright Corporation and Energy Services International.
The global hydrostatic testing market is observed to be one of the most fragmented markets as a large number of players involved in the market primarily cater to the regional market. Key manufacturers of hydrostatic testing equipment are found to be involved in the introduction of new products in the market to meet the ever-increasing demand from end-use industries.
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Moreover, the demand for hydrostatic testing is notably high in the oil and gas industry, in the wake of increasing upstream and downstream oil and gas exploration and drilling activities that requires rigorously constructed and designed pipelines. Considering the impact that pipeline failures can have on economy, environment, and human life, the demand for hydrostatic testing is significantly high in the oil and gas industry. North America and MEA are expected to be key regions in the hydrostatic testing market during the forecast period owing to increasing investments across oil and gas industry in these regions.
By Segmentation:
To understand and assess opportunities in the global hydrostatic testing market, we have divided the report into five sections based on market segmentation as below:
By Product Type
- Pumps
- Pressure Gauges
- Master Gauges
- Backup Gauges
- Relief Valves
- Others (Pressure Plugs, etc.)
By Design
- Manual
- Powered
- Gas
- Electric
- Diesel
- Pneumatic
By Output Pressure
- Below 35 Bar
- 35-200 Bar
- 200-400 Bar
- Above 400 Bar
By End-use Industry
- Oil & Gas
- Plant Processing
- Water
- Aircraft
- Construction
- Fire & Safety
- Others (manufacturing, etc.)
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- India
- Japan
- South East Asia & Pacific
- Middle East & Africa
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With the growing oil reserves across various regions, especially MEA, the demand for pipeline and vessel testing services is expected to increase, which in turn, will escalate the demand for hydrostatic testing equipment across the region. North America, on the other hand, dominated the global natural gas production as well as consumption in 2017. With growing consumption and production of natural gas, coupled with safe operations of gas pipelines, demand for hydrostatic testing is expected to remain high, in the region. Investments in oil and gas exploration and drilling activities in Mexico and Brazil are surging, which in turn, is projected to create opportunities for hydrostatic testing providers and significant competition for foreign investors, in the Latin American region.