Ultrasonic Testing Market
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.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 2.80 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
9.1% |
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Predicted 2028 Value: |
USD 5.62 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
281 |
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Chapters Covered: |
Service, Type, Application, Equipment, End User and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Services Covered:
• Training Services
• Inspection Services
• Equipment Rental Services
• Calibration Services
Types Covered:
• Ultrasonic Spectroscopy
• Immersion Testing
• Acoustography
• Time-Of-Flight Diffraction
• Guided Wave Testing
• Phased Array Techniques
Applications Covered:
• Material Thickness
• Dimensional Measurement
Equipments Covered:
• 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
• Marine
• Manufacturing
• Aerospace
• Healthcare
• Food & Beverages
• Government Infrastructure and Public Infrastructure
• Automotive
• Banking, Financial Services and Insurance (BFSI)
• Retail and e-Commerce
• Transportation
• Plastics and Polymers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Ultrasonic Testing Market, By Service
5.1 Introduction
5.2 Training Services
5.3 Inspection Services
5.4 Equipment Rental Services
5.5 Calibration Services
6 Global Ultrasonic Testing Market, By Type
6.1 Introduction
6.2 Ultrasonic Spectroscopy
6.3 Immersion Testing
6.4 Acoustography
6.5 Time-of-Flight Diffraction
6.6 Guided Wave Testing
6.7 Phased Array Techniques
7 Global Ultrasonic Testing Market, By Application
7.1 Introduction
7.2 Material Thickness
7.3 Dimensional Measurement
8 Global Ultrasonic Testing Market, By Equipment
8.1 Introduction
8.2 Tube Inspection Systems
8.3 Imaging Systems
8.4 Thickness Gauges
8.5 Bond Testers
8.6 Flaw Detectors
8.7 Transducers and Probes
8.8 Industrial Scanners
9 Global Ultrasonic Testing Market, By End User
9.1 Introduction
9.2 Chemical & Petrochemical
9.3 Sports and Entertainment
9.4 Oil & Gas
9.5 Energy & Power Generation
9.5.1 Fossil Fuel
9.5.2 Nuclear Power
9.5.3 Renewable Energy
9.6 Marine
9.7 Manufacturing
9.8 Aerospace
9.9 Healthcare
9.10 Food & Beverages
9.11 Government Infrastructure and Public Infrastructure
9.11.1 Bridges and Tunnels
9.11.2 Military & Defense
9.11.3 Railway Industry
9.12 Automotive
9.13 Banking, Financial Services and Insurance (BFSI)
9.14 Retail and e-Commerce
9.15 Transportation
9.16 Plastics and Polymers
10 Global Ultrasonic Testing Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 TechScan Systm Inc.
12.2 General Motors
12.3 Ashtead Technology Ltd
12.4 Mistras Group, Inc.
12.5 Olympus Corporation
12.6 British Institute of Non-Destructive Testing (BINDT)
12.7 Zetec, Inc.
12.8 Intertek
12.9 Magnaflux
12.10 Sonatest Ltd.
12.11 NDT Systems Inc
12.12 Dakota Ultrasonics
12.13 General Electric
12.14 Eddyfi Technologies
12.15 Sonatest
List of Tables
1 Global Ultrasonic Testing Market Outlook, By Region (2019-2028) ($MN)
2 Global Ultrasonic Testing Market Outlook, By Service (2019-2028) ($MN)
3 Global Ultrasonic Testing Market Outlook, By Training Services (2019-2028) ($MN)
4 Global Ultrasonic Testing Market Outlook, By Inspection Services (2019-2028) ($MN)
5 Global Ultrasonic Testing Market Outlook, By Equipment Rental Services (2019-2028) ($MN)
6 Global Ultrasonic Testing Market Outlook, By Calibration Services (2019-2028) ($MN)
7 Global Ultrasonic Testing Market Outlook, By Type (2019-2028) ($MN)
8 Global Ultrasonic Testing Market Outlook, By Ultrasonic Spectroscopy (2019-2028) ($MN)
9 Global Ultrasonic Testing Market Outlook, By Immersion Testing (2019-2028) ($MN)
10 Global Ultrasonic Testing Market Outlook, By Acoustography (2019-2028) ($MN)
11 Global Ultrasonic Testing Market Outlook, By Time-of-Flight Diffraction (2019-2028) ($MN)
12 Global Ultrasonic Testing Market Outlook, By Guided Wave Testing (2019-2028) ($MN)
13 Global Ultrasonic Testing Market Outlook, By Phased Array Techniques (2019-2028) ($MN)
14 Global Ultrasonic Testing Market Outlook, By Application (2019-2028) ($MN)
15 Global Ultrasonic Testing Market Outlook, By Material Thickness (2019-2028) ($MN)
16 Global Ultrasonic Testing Market Outlook, By Dimensional Measurement (2019-2028) ($MN)
17 Global Ultrasonic Testing Market Outlook, By Equipment (2019-2028) ($MN)
18 Global Ultrasonic Testing Market Outlook, By Tube Inspection Systems (2019-2028) ($MN)
19 Global Ultrasonic Testing Market Outlook, By Imaging Systems (2019-2028) ($MN)
20 Global Ultrasonic Testing Market Outlook, By Thickness Gauges (2019-2028) ($MN)
21 Global Ultrasonic Testing Market Outlook, By Bond Testers (2019-2028) ($MN)
22 Global Ultrasonic Testing Market Outlook, By Flaw Detectors (2019-2028) ($MN)
23 Global Ultrasonic Testing Market Outlook, By Transducers and Probes (2019-2028) ($MN)
24 Global Ultrasonic Testing Market Outlook, By Industrial Scanners (2019-2028) ($MN)
25 Global Ultrasonic Testing Market Outlook, By End User (2019-2028) ($MN)
26 Global Ultrasonic Testing Market Outlook, By Chemical & Petrochemical (2019-2028) ($MN)
27 Global Ultrasonic Testing Market Outlook, By Sports and Entertainment (2019-2028) ($MN)
28 Global Ultrasonic Testing Market Outlook, By Oil & Gas (2019-2028) ($MN)
29 Global Ultrasonic Testing Market Outlook, By Energy & Power Generation (2019-2028) ($MN)
30 Global Ultrasonic Testing Market Outlook, By Fossil Fuel (2019-2028) ($MN)
31 Global Ultrasonic Testing Market Outlook, By Nuclear Power (2019-2028) ($MN)
32 Global Ultrasonic Testing Market Outlook, By Renewable Energy (2019-2028) ($MN)
33 Global Ultrasonic Testing Market Outlook, By Marine (2019-2028) ($MN)
34 Global Ultrasonic Testing Market Outlook, By Manufacturing (2019-2028) ($MN)
35 Global Ultrasonic Testing Market Outlook, By Aerospace (2019-2028) ($MN)
36 Global Ultrasonic Testing Market Outlook, By Healthcare (2019-2028) ($MN)
37 Global Ultrasonic Testing Market Outlook, By Food & Beverages (2019-2028) ($MN)
38 Global Ultrasonic Testing Market Outlook, By Government Infrastructure and Public Infrastructure (2019-2028) ($MN)
39 Global Ultrasonic Testing Market Outlook, By Bridges and Tunnels (2019-2028) ($MN)
40 Global Ultrasonic Testing Market Outlook, By Military & Defense (2019-2028) ($MN)
41 Global Ultrasonic Testing Market Outlook, By Railway Industry (2019-2028) ($MN)
42 Global Ultrasonic Testing Market Outlook, By Automotive (2019-2028) ($MN)
43 Global Ultrasonic Testing Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2019-2028) ($MN)
44 Global Ultrasonic Testing Market Outlook, By Retail and e-Commerce (2019-2028) ($MN)
45 Global Ultrasonic Testing Market Outlook, By Transportation (2019-2028) ($MN)
46 Global Ultrasonic Testing Market Outlook, By Plastics and Polymers (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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