An Incisive, In-depth Analysis on the Hydrostatic Testing Market
This study offers a comprehensive, 360 degree analysis on the Hydrostatic Testing market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hydrostatic Testing market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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.
Significant Investments in Oil & Gas Projects are supporting the Demand for Hydrostatic Testing Equipment and Services
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.
Long-Term Contracts with Distributors and End-users: A Key Trend in the Hydrostatic Testing Market
Manufacturers of hydrostatic testing equipment and tools across the European region are involved in forming agreements with distributors to move strategically into the Scandinavian offshore and onshore market. For instance, recently, the STATS group signed an agreement with the Norwegian distributor, PSO AS, which will provide the company strategic entry into the Scandinavian market. The agreement was done to build a close-working relationship with PSO to customers in Norway and other neighboring countries.
Others Product Type Segment of the Global Hydrostatic Testing Market is anticipated to grow at a Fast Pace
Based on product type, the global hydrostatic testing market has been segmented into pumps including industrial pumps, pressure gauges (master gauges and backup gauges), relief valves and others. Hydrostatic testing pumps are one of the most widely utilized equipment across the globe. Hydrostatic testing pumps accounted for the maximum share in the market by the end of 2017 and are expected to account for more than 3/4th of the overall incremental opportunity created over the forecast period in the global hydrostatic testing market.
North America is expected to remain the Dominant Regional Market over the Forecast Period
On the basis of geography, the global hydrostatic testing market has been segmented into North America, Latin America, Western Europe, Eastern Europe, China, India, Japan, South East Asia & Pacific and Middle East & Africa. The North America hydrostatic testing market accounted for the maximum value share in 2017 and is forecast to maintain its dominance in the global hydrostatic testing market over the forecast period. The top 4 countries in Western Europe are expected to account for more than 3/5th of the Western Europe hydrostatic testing market share by the end of 2018, while the top 2 countries in the Middle East & Africa are expected to account for more than 2/5th of the overall hydrostatic testing market share by the end of 2018.
Leading Market Players in the Global Hydrostatic Testing Market
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.
Future Market Insights, in its report titled “Hydrostatic Testing Market: Global Industry Analysis 2013–2017 and Opportunity Assessment, 2018–2028”, offers detailed insights and in-depth research on the global hydrostatic testing market over a 10-year forecast period, i.e. from 2018 to 2028. The report covers the important factors driving the growth of the global hydrostatic testing market, untapped opportunities for manufacturers, trends and developments shaping the dynamics of the global hydrostatic testing market and other insights across various key segments.
The report identifies the drivers and restraints affecting the growth of the global hydrostatic testing market. Changing trends have also been analysed and incorporated in the report to equip clients with exhaustive information about the global hydrostatic testing market, resulting in better decision making. Macroeconomic factors that directly and indirectly affect the growth of the global hydrostatic testing market have also been incorporated in the report.
Global Hydrostatic Testing Market 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
By Output Pressure
By End-use Industry
The market value for all segments is taken in US$ Mn and the market volume is identified in Units for all the segments in the global hydrostatic testing market.
A section of the report highlights country-wise hydrostatic testing sales. It provides a market outlook for 2018–2028 and sets the forecast within the context of the global hydrostatic testing market, including new technological developments as well as product offerings for niche end-uses in the global hydrostatic testing market.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. The report provides detailed market share analysis of the hydrostatic testing market on the basis of key manufacturers. Detailed profiles of manufacturers have also been included within the scope of the report to evaluate strategies, key offerings and recent developments in the global hydrostatic testing market.
The hydrostatic testing market volume has been inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analysed and the average global hydrostatic testing market volume is deduced and reconfirmed prior to incorporation in the report. The price of hydrostatic testing has been deduced on the basis of product type where the average price of each product type is inferred across all the nine assessed regions. The market value of the global hydrostatic testing market has been thus calculated from the data provided by the average selling price and market volume.
For the 10-year forecast of the global hydrostatic testing market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at the global hydrostatic testing market forecast are the size of the current market, inputs from the demand side and the supply side and other dynamics shaping the global hydrostatic testing market.
In this report on hydrostatic testing, the forecast is conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated, presenting the client with crystal clear insights and future opportunities as far as the global hydrostatic testing market is concerned.