The global business is anticipated to witness a considerable value CAGR of 4.7% during the period 2022 and 2028. Hydrostatic testing is the most common method for inspecting meter skids, compressed gas cylinders, pressure relief valves, boilers, tubing, pipelines, and other pressurized containers for leaks and structural integrity.
China’s infrastructure development has led to an increase in demand for building materials and services. The high population growth brought on by the expansion of the residential sector and the need for a stable supply of water is what is propelling the hydrostatic testing market in China.
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In addition to the government’s growing interest in water management projects, the private sector is becoming more conscious of the importance of water management, which is increasing the country’s market growth. Over the predicted time frame, China is expected to hold onto a sizable market share in the global hydrostatic testing market. The hydrostatic testing market in China is predicted to grow at a CAGR of 3.0% over the course of the forecast period.
FMI has concluded that North America will continue to be a key market for hydrostatic testing over the projection period because to increased demand from end-use applications. In the area, it is expected that the hydrostatic testing market will expand at a CAGR of 5.9%. It is frequently used to test low-pressure stainless steel canisters, check for leaks during the time of the test, and determine when it is safe to restart the equipment.
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.
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. 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.
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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. Pumps are a widely used test equipment and is likely to dominate the global hydrostatic testing market with more than 3/4th of the overall market share by the end of the forecast period, in terms of product.
These pumps are primarily designed to test plumbing lines, pressure vessels, water meters, sprinkler and solar systems across various industries. Moreover, powered hydrostatic testing compared to manual variants is projected to dominate the global hydrostatic testing market owing to its smooth functioning, lying in the high growth – high value quadrant throughout the forecast period.
Competitive Landscape:
New product development, in terms of testing pipelines and pipe systems is also projected to remain key forward market strategy adopted by players in hydrostatic testing market. Moreover, government regulations such as U.S DOT and PHMSA, are expected to create growth opportunities in the hydrostatic testing market. Key players in the global hydrostatic testing market include Curtiss-Wright Corporation, Galiso Inc., Rice Hydro, H. Lorimer Corp, and Cosmo Instruments Company Limited.
Hydrostatic Testing Market by Category
By Product Type:
- Pumps
- Pressure Gauges
- Master Gauges
- Backup Gauges
- Relief Valves
- Others
By Design:
- Manual
- Powered
- Gas
- Electric
- Diesel
- Pneumatic
By Output Pressure:
- Below 35 Bar
- 35-200 Bar
- 200-400 Bar
- Above 400 Bar
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By End Use:
- Oil & Gas
- Plant Processing
- Water
- Aircraft
- Construction
- Fire & Safety
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- India
- Japan
- SEA & Pacific
- MEA
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