March 28, 2020
Hydrostatic Testing

Hydrostatic Testing Market 2027: Know The Trends, Share and Opportunities

The hydrostatic testing market is set to grow with a CAGR of 5.2% during the forecast period.

The global market for hydrostatic testing is driven by growing oil reserves exploration activities around the globe. The increasing production and consumption of oil and gas, coupled with the growing demand for safety among gas pipelines, is increasing the demand for hydrostatic testing. Growing investment in oil & gas production activities across the MEA, Brazil and Mexico is accelerating the adoption of the hydrostatic testing service. In addition, the technological advancement of the hydrostatic test equipment presents a myriad of opportunities for market growth. In addition, government support initiatives and policies for the safety of oil and gas infrastructure are further increasing the growth of the market.

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The oil & gas industry dominated the hydrostatic testing market with over 20% share in the revenue in 2018, and the sector is estimated to follow the trend during the forecast period. The large scale adoption of the hydrostatic testing in the sector is estimated to drive the growth of the market. The increasing upstream, midstream and downstream oil exploration and the growing requirement for rigorous and safe pipeline infrastructure is also serving as a major force driving the growth of the market.

Asia Pacific is projected to grow by more than 6% in the CAGR during the forecast period. Increasing oil & gas exploration activities in the region are driving market growth. In addition, the growing investment in oil & gas infrastructure across the region presents numerous opportunities for market growth. MEA is also estimated to make a significant contribution during the forecast period. Increasing drilling and exploration activities in the region are accelerating the market for hydrostatic testing.

The prominent players in the hydrostatic testing market are Energy Services International, Galiso Inc., China Joy Machinery and Equipment Limited, Cat Pumps, Curtiss-Wright Corporation, Hydro-Test Products Inc., Cosmo Instruments Co. Ltd., Petersen Products Co., Greene’s Energy Group, H. Lorimer Corp., JM Test Systems, International Pipeline Products Limited, Rice HYDRO, Resato International B.V., and Pumps Australia Pty Ltd.

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Segmentation
Product Type Segment (2017–2027; US$ Bn)
• Pumps
• Pressure Gauges
• Relief Valves
• Others

Design Segment (2017–2027; US$ Bn)
• Manual
• Powered

Application Segment (2017–2027; US$ Bn)
• Oil & Gas
• Plant Processing
• Water
• Aircraft
• Construction
• Fire & Safety
• Others

Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)

Questions answered in this report

  • What was the market size of hydrostatic testing in 2018 and forecast up to 2027?
  • Which is the largest regional market for hydrostatic testing?
  • What are the major trends followed in hydrostatic testing market across different regions?
  • Who are the key companies in the hydrostatic testing market?
  • What are the key strategies adopted by the leading hydrostatic testing companies in market?

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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