Albany, NY -- (SBWIRE) -- 03/05/2019 -- Ultrasonic gas leak detector is a device that is used to quickly detect leakages in compressed air or vacuum systems. It works well in open, ventilated area where other gas detection methods may not be independent of ventilation. Ultrasonic gas leak detectors are available in the market in two different types, namely fixed leak detector and portable leak detector. Moreover, this device is highly reliable and robust in nature. Ultrasonic gas leak detectors use leak rate method to determine the amount of gas leak per unit time. This method is helpful to alert on minor leak rate, significant leak rate, and major leak rate. This detector uses acoustic sensors to identify variation in noise that is inaudible to human hearing.

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In oil & gas industry, due to increase in incidents of leakage in oil & gas pipelines and storage tank at production facilities, construction of new pipelines, and advancement and expansion of present pipelines are supporting the growth of ultrasonic gas leak detector market. The global ultrasonic gas leak detector market is primarily driven by wide range of applications such as chemical processing plants, underground gas storage facilities, and gas turbine power plants among others.

Moreover, in heating, ventilation, air conditioning and refrigeration (HVAC/R) industry ultrasonic gas leak detectors are increasingly adopted due to their versatility in leak detection and other applications. Furthermore, owing to increasing investment in emerging economies across the globe, focused on chemical and oil & gas industry and stringent safety regulation mandated by government authorities, are expected to fuel the overall market growth during forecast period.

However, due to irregularities in payment cycles, and low profit margins in the oil & gas industry is expected to be the major restraining factor for global ultrasonic gas leak detector market. However, Incorporation of artificial neutral network technology and inclusion of internet of things (IoT) to upgrade ultrasonic gas leak detection technology is observed to be the key trend governing the growth of ultrasonic gas leak detector market.

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The global ultrasonic gas leak detector market has been segmented based on product type, application, technology, and region. Based on product type, the global ultrasonic gas leak detector market can be classified into portable leak detector and fixed leak detector. Based on application, the market can be segmented into residential, industrial, and commercial applications.