The Hydrostatic Testing Market is to grow with a year-on-year growth of 4.7% in 2022 reaching a value of about USD 582.2 Million by 2022 end.
The global business is anticipated to witness a considerable value CAGR of 4.8% 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.
It's typically used to test low-pressure stainless steel canisters as well as determine whether or not the equipment has any leaks at the time of the test and whether or not it's safe to return to operation.
| Report Attributes | Details |
|---|---|
| Hydrostatic Testing Market Analysis (2021A) | USD 556.2 Million |
| Hydrostatic Testing Market Analysis Estimated Year Value (2022E) | USD 582.2 Million |
| Hydrostatic Testing Market Analysis Projected Year Value (2028F) | USD 771.9 Million |
| Value CAGR (2022 to 2028) | 4.8% |
| Collective Value Share: Top 3 Countries (2022E) | 43.2% |
FMI has identified North America to remain a key market for hydrostatic testing over the forecast period owing to increasing demand from end-use applications. The region is estimated to witness a value of CAGR of 5.9% in the industry of hydrostatic testing.
Explore FMI!
Book a free demo
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.5% |
| H1,2022 Projected (P) | 4.7% |
| H1,2022 Outlook (O) | 4.8% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 13 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 27 ↑ |
Future Market Insights presents a half-yearly comparison and insightful analysis of the hydrostatic testing market growth rate.
The market has been primarily influenced by certain industrial factors including increased oil and gas exploration operations, pipeline safety, downstream operations, and urbanization, all are expected to enhance demand for pressure testing equipment and services in oil and gas facilities.
Over the last several years, the number of acquisitions and expansion activities are also enhancing the supply of hydrostatic testing.
According to FMI analysis, global hydrostatic testing is expected to grow with a magnitude of 4.5% during the first half of 2021, which is expected to witness an increment of 27 bps points in the growth over the first half of 2022. Recent years have seen an increase in environmental and safety issues.
As a result, several end-users are taking steps to maintain a safe working environment and to set up a system that allows them to reduce harm by implementing various preventative measures. These are the key factors that have contributed to the growth of hydrostatic testing services.
Along with positive prospects of the market, some likely challenges are lying ahead of the market including the production of high-quality hydrostatic testing equipment such as test pumps, pressure gauges, and relief valves at lower prices than those made by established brands.
Furthermore, rising Mexican oil and gas exploration and drilling operations will raise competition with foreign investors, as well as demand for hydrostatic testing services across a variety of end-use sectors.
Increased oil and gas exploration activities and pipeline safety in the USA and the Middle East and Africa are expected to increase demand for pressure testing equipment and services in oil and gas facilities.
Furthermore, the safe operation of gas and petroleum pipelines necessitates meticulous construction, design and verification of structural integrity. Pipeline failure results in financial losses as well as environmental damage and in severe cases, death.
As a result, the need for hydrostatic testing equipment has increased in this industry. Manufacturers of hydrostatic testing equipment and service providers are always focused on research and development as well as acquisition activities to expand their market presence globally and effectively mitigate challenges.
The demand outlook for hydrostatic testing between 2013 and 2021 remains at 3.9% as the pandemic crisis has impacted the market. The development of high-quality hydrostatic testing equipment such as test pumps,
pressure gauges and relief valves at lower prices as compared to those manufactured by established brands, is identified to be one of the key challenges in the hydrostatic testing equipment market.
The growth of hydrostatic testing market is likely to grow at a growth rate of 4.5% by Volume over the assessment period of 2022 to 2028.
Growing investments across the oil and gas industry's value chain are one of the key factors anticipated to support demand for pipeline pressure testing equipment and services around the world.
Furthermore, increased Mexican oil and gas exploration and drilling activities will create significant competition with foreign investors as well as increase demand for hydrostatic testing services across the various end-use industries.
Environmental and safety concerns are becoming more prevalent in recent times. As a result, several end-users are taking steps to ensure a safe working environment and establish a system in which they can minimise damage by adopting preventative measures. These are the major attributes behind the rise of hydrostatic testing services in recent times.
One of the significant challenges in the worldwide hydrostatic testing equipment market is the production of high-quality hydrostatic testing equipment such as test pumps, pressure gauges, and relief valves at cheaper prices than those manufactured by other manufacturers.
One of the key hurdles for small and medium players is the greater initial cost of testing. Besides, the most important piece of equipment in the oil and gas industry is hydrostatic testing equipment.
Hydrostatic pressure testing equipment manufactured at competitive pricing is a big challenge for players all over the world.
In 2022, USA Hydrostatic Testing Market is expected to register 4.7% year-on-year growth by volume, in North America, owing to the rising demand from upstream and downstream oil & gas production facilities.
Furthermore, regulatory backgrounds in the USA such as the USA Department of Transportation and the PHMSA (Pipeline and Hazardous Materials Safety Administration) are supporting the demand for hydrostatic testing services.
The industries in the country of the USA are expanding due to rising investments and the importance of safety concerns. As a result, the country of USA is a significant contributor to the expansion of the North America Hydrostatic Testing Market
Germany is playing a significant role in the growth of the Western Europe Hydrostatic Testing Market as the country is the prominent provider of testing services. It is expected to remain one of Europe's leading markets in terms of both growth and hydrostatic testing production.
Increased oil and gas production in Germany as well as a rising GDP rate are predicted to boost demand for hydrostatic testing services and equipment in Germany. The market in Germany is estimated to dominate the Western Europe Hydrostatic Testing Market throughout the forecast period (2028) with a 3.3% CAGR on a value basis.
China's infrastructure development has fuelled demand for building materials and services. The rapid population increase and the resulting expansion of the residential sector necessitate a constant supply of water, which is fuelling the growth of the hydrostatic testing market in China.
In addition to the government's increased interest in water management projects, the private sector is becoming more conscious of water management, which is boosting the country's market growth.
Throughout the projected period, China is expected to hold a considerable market share in the worldwide hydrostatic testing market. China’s Hydrostatic Testing Market is expected to grow at a CAGR of 3.0% throughout the forecast period.
The pumps segment is projected to create an absolute dollar opportunity of more than USD 180.2 Million from 2022 to 2028. Pumps are expected to be the most popular product among market participants, because of their growing use in hydrostatic testing in the oil and gas industry.
It is used to ensure that water systems such as industrial pumps, water meters, plumbing lines, pressure vessels, solar systems, sprinkler systems, as well as pipe networks, do not leak during normal operation in residential and commercial buildings.
The oil & gas industry is projected to create an absolute dollar opportunity of more than USD 108.5 Million from 2022 to 2028. Oil and gas enterprises are expected to dominate the global market over the projection period in terms of end-use categories.
Because the oil and gas industry necessitates a huge pipeline network, the government also promotes hydrostatic testing services to maintain worker safety and reduce financial losses due to oil and gas pipeline leaks.
Rising investments in both upstream and downstream oil and gas projects are projected to drive demand for pipeline pressure testing equipment and services. Increased demand from upstream and downstream oil and gas production facilities has assisted the market's expansion.
There has been an increase in the number of acquisitions and growth operations to strengthen the supply of hydrostatic testing over the last few years. Several major firms are also working to improve the efficiency of hydrostatic testing for diverse purposes.
Various manufacturers have emerged in worldwide businesses, particularly in the USA, China, and Germany. Companies are concentrating on broadening their products into a variety of end-use applications and expanding their global footprint. It will assist them in increasing income and establishing a strong brand presence.
For Instance,
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive, and is only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Eastern Europe; Western Europe; Latin America; SEA & Pacific; China; MEA |
| Key Countries Covered | North America, Latin America, Western Europe, Eastern Europe, China, India, Japan, SEA & Pacific and MEA. |
| Key Segments Covered | By Product Type, By Design, By Output Pressure, By End-use Industry, By Region |
| Key Companies Profiled | 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; Energy Services International; Wheeler-Rex |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The hydrostatic testing market size stood at USD 582.2 million in 2022.
The hydrostatic testing market is anticipated to develop at a 4.8% CAGR through 2028.
The top 3 countries occupy nearly 43.2% of the hydrostatic testing market.
The pumps segment is slated to create an absolute dollar opportunity worth more than USD 180.2 million by 2028.
The oil & gas industry is poised to present an absolute dollar opportunity worth more than USD 108.5 million by 2028.
China’s hydrostatic testing market is anticipated to develop at a 3.0% CAGR by 2028.
Germany is predicted to showcase a 3.3% CAGR in the Western Europe hydrostatic testing market.
Airfield Fencing Market Insights by Material, Height, Product Type, and Region through 2035
Korea Electric Sub-Meter Market Analysis by Product Type, Phase, Application and Region: Forecast for 2025 to 2035
Internal Gear Pump Market Growth, Trends, Analysis & Forecast by Product Type, End-Use Industry and Region through 2035
Radial Piston Motor Market Analysis & Forecast by Product Type, Automation, End-Use Industry and Region through 2035
Automation COE Market Insights by Organization Size, Service Type, End User Verticals, and Region through 2035
Rubber Conveyor Belt Market Analysis by Product Type, End Use, and Region through 2035
Hydrostatic Testing Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
