According to Exactitude Consultancy the Global Ultrasonic Testing Market value is expected to reach USD 6.52 billion by 2029, growing at a 6.3% CAGR of Between Forecast Period 2023 and 2029.
PUNE, India, April 11, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Ultrasonic Testing Market.
The global ultrasonic testing market size is estimated to be valued at USD 3.76 billion in 2020 and is projected to reach USD 6.52 billion by 2029, recording a CAGR of 6.3%.
The global ultrasonic testing market is experiencing significant growth and is expected to grow considerably in the next few years. Ultrasonic testing is a sort of non-destructive testing mechanism where ultrasonic pulse waves with a central frequency of 0.1 - 15 MHz are transmitted into any material to identify any kind of internal defect within the material.
This sort of ultrasonic testing can also be used for the inspection of flaw detection or evaluation, material thickness, high-speed rotating engine parts, and dimensional measurement. The ultrasonic technique detects hidden and internal discontinuities that are deep below the surface using the electronic equipment, which is connected to one or more transducers. Ultrasonic testing is applied to steel and any alloy, which are applicable to wood and composite products.
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Browse in-depth TOC on "Ultrasonic Testing Market"
140 - Pages
168 - Tables
28 - Figures
Ultrasonic Testing Market Overview
The ultrasonic testing market involves the use of high-frequency sound waves to inspect and evaluate the integrity of materials and structures. Ultrasonic testing is a non-destructive testing method used in a variety of industries including aerospace, automotive, energy, and manufacturing.
The market for ultrasonic testing is driven by factors such as the increasing demand for reliable and accurate non-destructive testing methods, advancements in ultrasonic testing technology, and growing safety concerns in various industries. The adoption of digital ultrasonic testing equipment is also contributing to the growth of the market.
North America is the largest market for ultrasonic testing, followed by Europe and Asia-Pacific. The presence of major players in the region, along with the increasing demand from various industries, is driving the growth of the market in North America.
The key players operating in the ultrasonic testing market include Olympus Corporation, General Electric, Sonatest Ltd, Baker Hughes, T.D. Williamson, and Eddyfi Technologies, among others. These companies are focusing on research and development activities to enhance their product portfolio and expand their market presence.
Report Attribute | Details |
Ultrasonic Testing Market size value in 2022 | USD 3.76 billion |
Revenue forecast in 2029 | USD 6.52 billion |
Market Growth rate | CAGR of 6.3% from 2023 to 2029 |
Base year for estimation | 2022 |
Historical data | 2018 - 2020 |
Forecast period | 2023 - 2029 |
Quantitative units | Revenue in USD Million, volume in units, CAGR from 2023 to 2029 |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, trends |
Segments covered | By Type; By Equipment; By Vertical and By Region |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | U.S.; Canada; Mexico; Germany; France; Italy; U.K.; China; India; Japan; Brazil; Saudi Arabia |
Key companies profiled | Mistras Group, Olympus Corporation, Baker Hughes, Intertek, Sonatest Ltd, Amerapex Corporation, Sonotron Ndt, Tecscan Systems Inc, Ashtead Technology and Ndt Systems Inc. |
Customization scope | Free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Ultrasonic Testing Market Driving Factor
There are several factors driving the growth of the ultrasonic testing market. Some of the key factors include:
- Increasing demand for reliable and accurate non-destructive testing methods: Ultrasonic testing is a non-destructive testing method that allows for the inspection and evaluation of the integrity of materials and structures without causing damage. The increasing demand for reliable and accurate testing methods in various industries, such as aerospace, automotive, and energy, is driving the growth of the ultrasonic testing market.
- Advancements in ultrasonic testing technology: With the development of advanced ultrasonic testing technologies, the accuracy and efficiency of ultrasonic testing have improved significantly. This has led to increased adoption of ultrasonic testing in various industries, thereby driving the growth of the market.
- Growing safety concerns in various industries: The importance of safety in various industries has increased significantly in recent years. Ultrasonic testing helps to ensure the safety of structures and materials by detecting flaws and defects that may lead to failures or accidents. The growing safety concerns in various industries are driving the demand for ultrasonic testing.
- Adoption of digital ultrasonic testing equipment: The adoption of digital ultrasonic testing equipment has been increasing in recent years. Digital ultrasonic testing equipment provides more accurate and reliable results than traditional analog equipment, thereby driving the growth of the market.
Overall, the demand for reliable and accurate non-destructive testing methods, advancements in ultrasonic testing technology, growing safety concerns in various industries, and adoption of digital ultrasonic testing equipment are the key factors driving the growth of the ultrasonic testing market.
Report Benefits
- Develop business strategies by understanding the trends shaping and driving the Market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Ultrasonic Testing Market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Ultrasonic Testing Market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track sales in the global and country-specific Market.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Industry Developments
- In December 2020, Walgate Technologies, a Baker Hughes business and an industry leader in inspection solutions, introduced Phoenix Powerlscan HE solution, its first high-energy computed tomography system.
- In September 2019, MISTRAS Group acquired New Century Software (US), a leading provider of pipeline integrity management software and services to energy transportation companies.
- In June 2019, Olympus Corporation launched the DSX1000 digital microscope, which significantly improves the inspection workflow of users and enables the analysis of a wide variety of samples with a single tool.
- In May 2018, Olympus introduced the IPLEX G Lite ultra-portable industrial videoscope, which is useful for inspecting hard-to-reach areas of aircraft and piping. The device is highly efficient and easy to control.
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What Is Ultrasonic Testing?
Ultrasonic testing (UT) is a non-destructive testing technique that uses high-frequency sound waves to inspect and evaluate the integrity of materials and structures. The Ultrasonic testing equipment emits high-frequency sound waves that penetrate the material or structure being tested. The sound waves are then reflected back to the equipment, where they are analyzed to determine the presence of defects, such as cracks, voids, or inclusions.
Ultrasonic testing is commonly used in industries such as aerospace, automotive, energy, and manufacturing to detect flaws and defects that may affect the integrity and safety of materials and structures. Ultrasonic testing is a non-invasive technique that does not cause damage to the material or structure being tested, making it an ideal method for inspecting critical components without causing downtime or expensive repairs. Ultrasonic testing is used to inspect a wide range of materials, including metals, plastics, composites, and ceramics.
Key Market Segments: Ultrasonic testing Market
Ultrasonic Testing Market By Type, 2020-2029, (USD Million) (Thousand Units)
- Time-Of-Flight Diffraction
- Phased Array
- Immersion Testing
- Guided-Wave Testing
- Acoustography
Ultrasonic Testing Market By Equipment, 2020-2029, (USD Million) (Thousand Units)
- Flaw Detectors
- Thickness Gauges
- Transducers & Probes
- Industrial Scanners
Ultrasonic Testing Market By Vertical, 2020-2029, (USD Million) (Thousand Units)
- Manufacturing
- Oil & Gas
- Aerospace
- Automotive
- Power Generation
Ultrasonic Testing Market By Regions, 2020-2029, (IN USD Million) (Thousand Units)
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
Frequently Asked Questions About This Report
- How big is the Ultrasonic Testing Market?
- What is the Ultrasonic Testing Industry growth?
- Which segment accounted for the largest Ultrasonic Testing Market share?
- Who are the key players in the Ultrasonic Testing Industry?
- What are the factors driving the Ultrasonic Testing Industry?
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