Ultrasonic Testing Market Forecasts to 2028 – Global Analysis By Service (Training Services, Inspection Services), Application (Material Thickness, Dimensional Measurement), End User (Sports, BFSI, Retail) and By Geography
According to Stratistics MRC, the Global Ultrasonic Testing Market is accounted for $2.80 billion in 2020 and is expected to reach $5.62 billion by 2028 growing at a CAGR of 9.1% during the forecast period. Rising application of automation, stringent government regulations and growth in ultrasonic testing market services are driving the market growth. However, high cost of automated ultrasonic testing equipment is hampering the growth of the market.
Ultrasonic testing is an extremely valuable and a sort of non-destructive testing mechanism or technique to identify any kind of internal defect within the material for timely evaluation and diagnosis of faults in products. 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. This testing technique is also able to detect discontinuities that are based on how the high-frequency sound waves are returned to the recording equipment.
Based on the equipment, the flaw detectors segment is going to have lucrative growth during the forecast period as this detecting equipment is used to measure penetration of any material within a substance is perfect or not. This helps to detect any kind of flaw in the test and due to this there is rising in the market for this segment. By geography, North America is going to have high growth during the forecast period due to higher share of manufacturing industries, automotive, and power generation plant. This region is expected to be more dominant attributed to the increasing use of the UT technique for railway inspections across the US and Canada. The presence of key market players, such as Amerapex Corporation, General Electric, and others drive the market in the U.S. In addition, growing adoption of advanced testing technologies in the region’s robust aerospace industry will further boost the regional market.
Some of the key players profiled in the Ultrasonic Testing Market include TechScan Systm Inc., General Motors, Ashtead Technology Ltd, Mistras Group, Inc., Olympus Corporation, British Institute of Non-Destructive Testing (BINDT), Zetec, Inc., Intertek, Magnaflux, Sonatest Ltd., NDT Systems Inc, Dakota Ultrasonics, General Electric, Eddyfi Technologies, Sonatest.
Estimated Market Size in 2020:
USD 2.80 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 5.62 billion
Tables, Graphs& Figures
Service, Type, Application, Equipment, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Training Services
• Inspection Services
• Equipment Rental Services
• Calibration Services
• Ultrasonic Spectroscopy
• Immersion Testing
• Time-Of-Flight Diffraction
• Guided Wave Testing
• Phased Array Techniques
• Material Thickness
• Dimensional Measurement
• Tube Inspection Systems
• Imaging Systems
• Thickness Gauges
• Bond Testers
• Flaw Detectors
• Transducers and Probes
• Industrial Scanners
End Users Covered:
• Chemical & Petrochemical
• Sports and Entertainment
• Oil & Gas
• Energy & Power Generation
• Food & Beverages
• Government Infrastructure and Public Infrastructure
• Banking, Financial Services and Insurance (BFSI)
• Retail and e-Commerce
• Plastics and Polymers
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Ultrasonic Testing Market is majorly driven by rising application of automation, development of portable phased array ultrasonic testing equipment and stringent government regulations and growth in ultrasonic testing.
The flaw detection segment is growing at a highest CAGR as this helps to detect any kind of flaw in the test and to measure penetration of any material within a substance is perfect or not.
Asia Pacific dominated with a significant market share due to the factors such as rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China and countries in Asia Pacific are involved in the manufacturing of defense aircraft, which is expected to increase ultrasonic testing equipment and services in the defense & aerospace industry.
North America market is growing at a highest CAGR due to higher share of manufacturing industries, automotive, and power generation plant and growing adoption of advanced testing technologies in the region’s robust aerospace industry will further boost the regional market.
Key players in Ultrasonic Testing Market include TechScan Systm Inc., General Motors, Ashtead Technology Ltd, Mistras Group, Inc., Olympus Corporation, British Institute of Non-Destructive Testing (BINDT), Zetec, Inc., Intertek, Magnaflux, Sonatest Ltd., NDT Systems Inc, Dakota Ultrasonics, General Electric, Eddyfi Technologies, Sonatest.
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