Market Forecast By Detection Method (Hydrostatic Deduction, Infrared Deduction, Laser Deduction, Pipeline Deduction, Others), By End-Users (Residential, Industrial, Oil & Gas Refineries, Water Treatment Plants, Power Plants, Chemical Plants, Others) And Competitive Landscape
Product Code: ETC081409 | Publication Date: Jun 2021 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Vietnam Leak Detection Equipment Market report thoroughly covers the market by detection method and by end-users. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Vietnam Leak Detection Equipment Market growth is driven by regulatory requirements, environmental concerns, water and wastewater treatment, chemical industry, and the need for asset protection. Advanced technologies, such as acoustic leak detection and infrared thermography, are enhancing the efficiency of leak detection systems. In general, leakage is a common problem in various industries that can lead to serious hazards and property damage. Thus, the demand for leak detection equipment is increasing globally.
According to 6Wresearch, the Vietnam Leak Detection Equipment Market size is anticipated to register a CAGR of 8.1% during the forecast period of 2025-2031. The market for leak detection equipment in Vietnam is expanding due to concerns over environmental safety and regulatory compliance. Major industries such as oil and gas, chemicals, and water utilities are capitalizing in leak detection technology to prevent environmental contamination and financial losses. The need for real-time monitoring and the integration of advanced sensor technologies are driving Vietnam Leak Detection Equipment Market Growth. However, Leak Detection Equipment Market of Vietnam faces several challenges such as the adoption of advanced leak detection technologies, which limit the market development. Also, the market also faces competition from conventional, manual leak detection methods, which may be perceived as more cost-efficient by certain businesses. In terms of latest trends, the "smart leak detection solutions" is emerging in the Vietnam leak detection equipment industry. These smart solutions contain machine learning algorithms and artificial intelligence to detect the smallest leaks quickly. Besides, the companies are offering online services and maintenance, thus reducing the operational cost of the consumer. Furthermore, government initiatives and regulations are creating new opportunities to cope with certain market challenges. The industry can also leverage the rapid adoption of IoT technologies, expanding upstream and downstream oil and gas sectors, and rising LNG demand.
The Vietnam government has been emphasizing on cultivating the energy efficiency of the country, which has led to the introduction of policies that mandate the use of energy-efficient products for commercial and industrial purposes. The government has also introduced tax incentives for companies that invest in energy-efficient products, which help in increasing the adoption of leak detection equipment in the country. Moreover, the oil and gas sector are a critical contributor to country’s economy, and the government has been taking several steps to attract foreign investment in the sector. The demand for leak detection equipment is high in the oil and gas industry as it helps in detecting and preventing oil spills and other hazardous incidents.
Vietnam Leak Detection Equipment Market has several prominent players which includes multinational companies such as Emerson Electric Co., Honeywell International Inc., Siemens AG, and local players such as PetroVietnam Technical Services Corporation (PTSC) and Bach Khoa Internetwork Security (Bkav).
According to Suryakant Kashyap, Senior Research Analyst, 6Wresearch, the infrared detection method is one of the leading segments which is expected to hold the dominant position in the market, with an annual growth rate of around 9%, and is anticipated to reach USD 13 million during the forecast period. The growth is primarily due to growing adoption of advanced technological solutions in various end-user industries such as power plants and water treatment plants.
By end-user, the residential segment is dominating the Vietnam Leak Detection Equipment Market Share, followed by industrial and oil & gas refineries. The water treatment plant segment is anticipated to grow at the highest growth rate during the forecast period. The increasing government initiatives to improve wastewater treatment infrastructure is fueling the growth of water treatment plants in Vietnam.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Vietnam Leak Detection Equipment Market Overview |
3.1 Vietnam Country Macro Economic Indicators |
3.2 Vietnam Leak Detection Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Vietnam Leak Detection Equipment Market - Industry Life Cycle |
3.4 Vietnam Leak Detection Equipment Market - Porter's Five Forces |
3.5 Vietnam Leak Detection Equipment Market Revenues & Volume Share, By Detection Method, 2021 & 2031F |
3.6 Vietnam Leak Detection Equipment Market Revenues & Volume Share, By End-Users, 2021 & 2031F |
4 Vietnam Leak Detection Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Vietnam Leak Detection Equipment Market Trends |
6 Vietnam Leak Detection Equipment Market Segmentations |
6.1 Vietnam Leak Detection Equipment Market, By Detection Method |
6.1.1 Overview and Analysis |
6.1.2 Vietnam Leak Detection Equipment Market Revenues & Volume, By Hydrostatic Deduction, 2021-2031F |
6.1.3 Vietnam Leak Detection Equipment Market Revenues & Volume, By Infrared Deduction, 2021-2031F |
6.1.4 Vietnam Leak Detection Equipment Market Revenues & Volume, By Laser Deduction, 2021-2031F |
6.1.5 Vietnam Leak Detection Equipment Market Revenues & Volume, By Pipeline Deduction, 2021-2031F |
6.1.6 Vietnam Leak Detection Equipment Market Revenues & Volume, By Others, 2021-2031F |
6.2 Vietnam Leak Detection Equipment Market, By End-Users |
6.2.1 Overview and Analysis |
6.2.2 Vietnam Leak Detection Equipment Market Revenues & Volume, By Residential, 2021-2031F |
6.2.3 Vietnam Leak Detection Equipment Market Revenues & Volume, By Industrial, 2021-2031F |
6.2.4 Vietnam Leak Detection Equipment Market Revenues & Volume, By Oil & Gas Refineries, 2021-2031F |
6.2.5 Vietnam Leak Detection Equipment Market Revenues & Volume, By Water Treatment Plants, 2021-2031F |
6.2.6 Vietnam Leak Detection Equipment Market Revenues & Volume, By Power Plants, 2021-2031F |
6.2.7 Vietnam Leak Detection Equipment Market Revenues & Volume, By Chemical Plants, 2021-2031F |
7 Vietnam Leak Detection Equipment Market Import-Export Trade Statistics |
7.1 Vietnam Leak Detection Equipment Market Export to Major Countries |
7.2 Vietnam Leak Detection Equipment Market Imports from Major Countries |
8 Vietnam Leak Detection Equipment Market Key Performance Indicators |
9 Vietnam Leak Detection Equipment Market - Opportunity Assessment |
9.1 Vietnam Leak Detection Equipment Market Opportunity Assessment, By Detection Method, 2021 & 2031F |
9.2 Vietnam Leak Detection Equipment Market Opportunity Assessment, By End-Users, 2021 & 2031F |
10 Vietnam Leak Detection Equipment Market - Competitive Landscape |
10.1 Vietnam Leak Detection Equipment Market Revenue Share, By Companies, 2024 |
10.2 Vietnam Leak Detection Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |