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Procurement Market Intelligence Report

Industrial Leak Detection Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Industrial Leak Detection Services?

What is the average price of Industrial Leak Detection Services?

This procurement report includes pricing information to help you purchase Industrial Leak Detection Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Industrial Leak Detection Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Industrial Leak Detection Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Industrial Leak Detection Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Industrial Leak Detection Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

There are more than 450 suppliers operating in the industrial leak detection services market in 2021. The top four suppliers account for more than 30.0%, but less than 50.0% of total market revenue, which indicates moderate market share concentration. This level of concentration restricts buyer power to a degree, but... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Geographic Distribution

Do you provide services on a national level or on a local level? Which markets do you primarily serve?

Do you have international locations? If so, which markets do you serve?

How does the proximity to your facilities shape buying lead time?

What makes your location more strategic than your competitors'?

Employees

What has been your turnover rate during the last 12 months? How does your firm mitigate the risks of employee turnover?

Are staff members permanently assigned to clients, or do clients work with different personnel for each project?

What is the average tenure of your staff?

Where is your technical staff based? Do technical staff members perform site visits?

How do you keep your wage costs under control?

What measures are to be taken in the event one of their employees contracts the coronavirus? How will this impact my project lead time?

Qualifications

Do you have case studies or client testimonials detailing past services performed?

Tell me about similar leak detection projects you have worked on in the past. What were some challenges you have faced, and how did you overcome them?

What is your on-time completion rate for projects such as mine? What is your implementation plan?

Are you a member of any relevant industry associations? If so, which ones and what support do you receive from them?

Customer Service & Quality

How do you measure customer satisfaction, and how frequently?

Do clients have dedicated representatives, or will clients have to call a general support line?

Do you offer 24/7 customer account and technical support services?

How frequently will you provide progress reports on the project?

Will your leak detection services interfere with my company's daily operations?

Supply Chain Risk

How diversified is your client base? Which industries drive the most business for your firm?

Can you accommodate leak detection service requests on any given day? If not, do you have an alternate supplier that you can refer me to?

How do you adjust your operations in times of high demand? Low demand?

Where do you source your equipment and tools?

Service Performance

How do you ensure the accuracy/quality of your service?

What checks and balances are in place to be sure that my project has received a thorough evaluation? Who completes these checks and identifies errors?

Who normally identifies errors when they occur?

How do you balance quick turnaround times with maintaining maximum possible accuracy?

How has your operations changed in the wake of the coronavirus pandemic?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should suggest the best method of billing.

Buyers should determine whether payments will be made after an audit.

Buyers should note under what circumstances payment will be withheld or payment dates will be altered.

Selection Criteria

Buyers should look for suppliers with a comprehensive list and description of all equipment and machinery.

Buyers should look at suppliers’ experience with regard to servicing areas, cities or businesses that are similar in size.

Buyers should look for suppliers with flexible schedules.

Buyers should look for suppliers with clearly defined pricing instructions.

Project Schedule

Buyers need to include a proposal duration suggesting when vendors are required to submit their proposals.

Buyers need to include the date proposals are due and when the award will be announced.

Buyers should include any benchmark dates relevant to the project that suppliers should take into account.

Buyers should include the duration of the service contract.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for industrial leak detection services has been characterized by a low degree of risk during the three years to 2021. Key inputs include leak detection equipment, computers and software. There is generally a low level of risk for supply disruptions, especially concerning computers and software. However, rising... Subscribe to learn more.

HIGH

MEDIUM

LOW