Global Ultrasonic Testing Market (2021 to 2026) - Growing Infrastructure Development in Emerging Economies Presents Opportunities
DUBLIN, April 23, 2021 /PRNewswire/ -- The "Ultrasonic Testing Market with COVID-19 Impact by Type (Time-of Flight Diffraction, Immersion Testing), Equipment (Flaw Detectors, Imaging System, and Bond Testers), Service, Vertical, and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global ultrasonic testing market size is estimated to grow from USD 3.0 Billion in 2021 to USD 4.2 Billion by 2026, at a CAGR of 7.1%.
Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are a few major factors driving the ultrasonic testing market growth. The high adoption of IoT devices and the rising need to assess the health of aging assets are the other factors that propel the development of the ultrasonic testing market.
Based on type, the market for the phased array type to witness a high CAGR during the forecast period.
The phased array testing type is expected to multiply during the forecast period from 2021 to 2026. This type is used to measure or identify the subsurface cracks & seams, flaws, crack depth, coating thickness, and permeability. Phased array type reduces the use of multiple elements to steer, focus, and scan beams with a single transducer assembly. It optimizes defect detection and minimizes inspection time. It is used widely in power generation, construction and manufacturing verticals and service environments that inspect safety or quality-related issues. The phased array type is used to check surface-breaking cracks on metals and inspect discontinuities in metal tubes.
Training services to grow at the highest CAGR during the forecast period.
Training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers' changing demands is equally essential. The market for training services is expected to grow at the highest CAGR during the forecast period.
APAC to be the fastest-growing market for ultrasonic testing activities
The Asia Pacific is likely to be the fastest-growing region in the ultrasonic testing market due to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China. The Make in India campaign promotion by the government and the development in the Smart Cities project provide lucrative opportunities for the players in the ultrasonic testing market in India. The market in India is expected to grow at the highest CAGR during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Lucrative Opportunities in Ultrasonic Testing Market 4.2 Ultrasonic Testing Market, by Service 4.3 Ultrasonic Testing Market, by Equipment and Region 4.4 Ultrasonic Testing Market, by Type 4.5 Ultrasonic Testing Market, by Region 4.6 Market Growth Rate of Major Countries, 2021-2026
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Development of Portable Phased Array Ultrasonic Testing Equipment 5.2.1.2 Need for Reliable Non-Destructive Testing Technique for Fiberglass and Carbon Fiber Composites in Manufacturing 5.2.1.3 Growth in Ultrasonic Testing Market Services 5.2.1.4 Government Mandates Regarding Employee Safety and Stringent Quality Control Requirements 5.2.1.5 Maintenance Needs of Aging Infrastructure 5.2.2 Restraints 5.2.2.1 Limitations of Manual Ultrasonic Testing in Detecting Early Stages of Damage 5.2.2.2 High Cost of Automated Ultrasonic Testing Equipment 5.2.3 Opportunities 5.2.3.1 Growing Infrastructure Development in Emerging Econoies
5.2.3.2 Opportunities in Power Generation Sector 5.2.4 Challenges 5.2.4.1 Decreasing Oil and Gas Prices 5.2.4.2 Lack of Skilled Technicians 5.3 Average Selling Price Analysis 5.4 Leading Associations, Regulations, and Standards 5.4.1 The American Society for Non-Destructive Testing 5.4.2 The British Institute of Non-Destructive Testing 5.4.3 Astm International 5.5 Tariffs 5.5.1 Negative Impact of Tariffs on Ultrasonic Testing Market 5.5.2 Positive Impact of Tariffs on Ultrasonic Testing Market 5.6 Case Studies 5.6.1 Evaluation of Cracks in Petroleum Pipeline 5.6.2 Image Data Processing in Automated Ultrasonic Testing 5.7 Porter's Five Forces Analysis 5.7.1 Threat of New Entrants 5.7.2 Threat of Substitutes 5.7.3 Bargaining Power of Suppliers 5.7.4 Bargaining Power of Buyers 5.7.5 Intensity of Competitive Rivalry
6 Industry Trends 6.1 Introduction 6.2 Value Chain Analysis 6.2.1 Core Industry Segments 6.2.1.1 Raw Material Providers 6.2.1.2 Component Manufacturers 6.2.1.3 Assemblers 6.2.1.4 Sales and Distribution and Equipment Services 6.2.1.5 End-Use Applications 6.3 Key Industry Trends in Ultrasonic Testing Market 6.4 Patent Analysis 6.5 Ecosystem/Market Map 6.6 Trade Analysis 6.6.1 Import Scenario 6.6.2 Exports Scenario 6.7 Technology Analysis 6.7.1 Key Technologies 6.7.1.1 Electromagnetic Acoustic Transducer (Emat) Technique 6.7.1.2 Long-Range Ultrasonic Technique (LRUT) 6.7.2 Complementary Technologies 6.7.2.1 Dynamic Thermography 6.7.2.2 Air-Coupled Ultrasound 6.7.3 Adjacent Technologies 6.7.3.1 Positive Metal Identification Technique 6.7.3.2 Dynamic Interferometry
7 Ultrasonic Testing Market, by Type 7.1 Introduction 7.2 Phased Array 7.2.1 Faster Adoption Rate due to Higher Accuracy and Minimal Time Consumption in Inspection and Defect Detection 7.3 Time-Of-Flight Diffraction 7.3.1 High Precision with Minimal Failure Risk is Driving TOFD Segment 7.4 Immersion Testing 7.4.1 Capability of Detecting Small Defects is Driving Adoption of Immersion Testing in Industrial and Manufacturing Sectors 7.5 Guided Wave Testing 7.5.1 High Adoption Rate due to Long Range Inspection and Monitoring Capabilities 7.6 Acoustography 7.6.1 Ultrasonic Area Inspection Technique is Adopted for Single-Side Inspection for Imaging Process 7.7 Others
8 Ultrasonic Testing Market, by Equipment 8.1 Introduction 8.2 Flaw Detectors 8.2.1 Unique Identification Capabilities of Discontinuities Has Increased Adoption Rate of Flaw Detectors in Diverse Verticals 8.3 Thickness Gauges 8.3.1 Measurement Precision Drives Adoption of Thickness Gauges in Oil & Gas and Power Generation Verticals 8.4 Transducers and Probes 8.4.1 Critical Inspection Capabilities are Driving Adoption of Transducers and Probes 8.5 Industrial Scanners 8.5.1 Low Cost and Improved Quality and Precision in Scanning Results Has Increased Adoption of Industrial Scanners 8.6 Tube Inspection Systems 8.6.1 Large-Scale Adoption in Power Generation Vertical due to High-Precision Detection of Damages Such as Corrosion and Cracks 8.7 Bond Testers 8.7.1 Bond Testers are Being Highly Adopted in Oil & Gas and Aerospace Verticals 8.8 Imaging Systems 8.8.1 Increasing Adoption Rate due to Quality Control and Precise Flaw Detection Capabilities 8.9 Others
9 Ultrasonic Testing Market, by Service 9.1 Introduction 9.2 Inspection Services 9.2.1 High Adoption Rate due to Better Accuracy and Efficiency, Faster Inspection, and Low Cost 9.3 Equipment Rental Services 9.3.1 Low Cost and Appropriate Availability as Per Need are Driving Demand for Equipment Rental Services 9.4 Calibration Services 9.4.1 Increasing Adoption due to Accuracy in Measurement by Reducing Uncertainties in Testing Equipment 9.5 Training Services 9.5.1 Growing Demand for Ultrasonic Testing Equipment and Services is Driving Need for Training Services in APAC and North American Regions
10 Ultrasonic Testing Market, by Vertical 10.1 Introduction 10.2 Manufacturing 10.2.1 Increase in Adoption Rate due to Need for Monitoring, Inspection, and Quality Control of Materials 10.3 Oil & Gas 10.3.1 Need for Precision, Reliability, Safety, and Improved Utilization of Materials Led to High Adoption Rate in Oil & Gas Vertical 10.3.2 Refining 10.3.3 Subsea Pipelines 10.3.4 Storage Tanks 10.4 Aerospace 10.4.1 Need for High Precision, Increased Safety, and Quality Assurance Augment Adoption of Ultrasonic Testing Equipment in Aerospace Vertical 10.4.2 Aircraft Engine Part Production to be Key Application Area of Ultrasonic Testing 10.4.3 Airplane Maintenance Applications 10.5 Government Infrastructure 10.5.1 Rising Demand for Infrastructure Development Has Led to Increase in Adoption of Ultrasonic Testing Equipment and Services 10.5.2 Military & Defense 10.5.3 Railways Industry 10.5.4 Bridges and Tunnels 10.6 Automotive 10.6.1 Ultrasonic Testing Equipment Detect Flaws and Corrosion in Large Automotive Components 10.7 Power Generation 10.7.1 Rising Demand for Energy Has Led to Increased Use of Ultrasonic Testing Equipment and Services in Power Plants 10.7.2 Nuclear Power Drives Growth of Ultrasonic Testing in Power Generation 10.7.3 Renewable Energy 10.7.4 Fossil Fuel Energy 10.8 Marine 10.8.1 Ultrasonic Inspection Services are Used in Marine Sector to Ensure Integrity of Ships and Their Components 10.9 Others 10.9.1 Healthcare 10.9.2 Plastics and Polymers
11 Geographic Analysis 11.1 Introduction 11.2 North America 11.3 Europe 11.4 Asia-Pacific 11.5 Rest of the World
12 Competitive Landscape 12.1 Overview 12.2 Market Evaluation Framework 12.2.1 Product Portfolio 12.2.2 Regional Focus 12.2.3 Manufacturing Footprint 12.2.4 Organic/Inorganic Play 12.3 Market Share Analysis, 2020 12.4 Revenue Analysis of Top 4 Players in Ultrasonic Testing Market 12.5 Company Evaluation Quadrant 12.5.1 Star 12.5.2 Emerging Leader 12.5.3 Pervasive 12.5.4 Participant 12.6 Startup/Sme Evaluation Matrix 12.6.1 Progressive Companies 12.6.2 Responsive Companies 12.6.3 Dynamic Companies 12.6.4 Starting Blocks 12.7 Company Footprint 12.8 Competitive Situation & Trends 12.8.1 Product Launches & Developments 12.8.2 Deals 12.8.3 Others
13 Company Profiles 13.1 Key Players 13.1.1 Mistras Group 13.1.2 Olympus Corporation 13.1.3 Baker Hughes (A Subsidiary of GE Company) 13.1.4 Intertek 13.1.5 Sonatest Ltd 13.1.6 Amerapex Corporation 13.1.7 Sonotron Ndt 13.1.8 Tecscan Systems Inc 13.1.9 Ashtead Technology 13.1.10 NDT Systems Inc 13.1.11 Eddyfi 13.1.12 Applied Technical Services Inc 13.2 Other Key Players 13.2.1 Ndt Global GmbH Ltd & Co.Kg 13.2.2 Td Williamson Inc 13.2.3 Labquip Ndt Limited 13.2.4 Ipromar Pte Limited 13.2.5 Fprimec Solutions Inc 13.2.6 Cygnus Instruments Ltd 13.2.7 Acuren Inspection Inc 13.2.8 Dekra 13.2.9 Element Materials Technology 13.2.10 Fischer Technology Inc 13.2.11 Lynx Inspection 13.2.12 Carestream 13.2.13 Zetec Inc
14 Appendix 14.1 Insights of Industry Experts 14.2 Discussion Guide
For more information about this report visit https://www.researchandmarkets.com/r/w3oaij
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