Ultrasonic Testing Market Share, Size Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report, 2021-2028
Ultrasonic Testing Market Size , Share & Analysis Report by Type (Time-of-flight diffraction, Phased array, Immersion testing, Guided wave, Acoustography and Other), By Equipment (Flaw detectors, Thickness gauges, Transducers and probes, Industrial scanners, Tube inspection systems, Bond testers, Imaging systems and Other), By Services (Inspection Services, Training Services, Equipment Rental Services and Calibration services), By Vertical (Manufacturing, Oil & Gas, Aerospace, Government Infrastructure, Automotive, Power Generation, Marine, and Other) and By Region – Global Opportunities & Forecast, 2021-2028
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Market Dynamic
Key Drivers and Emerging Trends
With the advantage of offering detailed inspection data in less lead time without compromising the precision of the inspection, automated ultrasonic testing market share is expected to gain momentum in upcoming years. With the increasing necessity for the maintenance of ageing assets in oil and gas production fields such as transmission pipelines and storage terminals, growing fleet ships and naval vessels, integrity testing of construction structures in apartments and civic properties is expected to drive the demand for automated ultrasonic testing; an important obligation of testing and inspection services in a regular frequency of every 2-3 years in the aforementioned sites is expected to create huge growth opportunities of automated ultrasonic testing market. The increasing oil and gas pipeline layout worldwide is expected to drive the demand for welding inspection, and it indirectly impacts the demand for the automated testing market in the upcoming year. The automotive industry is increasingly manufacturing vehicles and in the forecast period, the production of electric vehicles (EVs) will further drive the need for automated ultrasonic testing. The marine industry is also crucial as oil and gas and power industry, and the automated ultrasonic testing is giving rise to a significant opportunity for hull inspection. Further, bunker vessel-related projects and other shipyard construction projects will drive opportunities. The rising investment in construction of railways, airports, public infrastructures, etc., is driving automated ultrasonic testing size. Further, in remote areas, the construction of steel bridges and railway tracks also driving the adoption of automated ultrasonic testing.
Increasing demand for a reliable and non-destructive technique to produce carbon fiber and fiberglass stands to be a major factor fueling the ultrasonic testing market size. Growing deployment of ultrasonic testing in the aviation industry to monitor the composite market of aircraft and maintain the safety by analyzing the obstruction of different parts will drive the market growth. In addition, as per the ultrasonic testing market report, the surge in the number of testing cases in nuclear power plants to ensure the safety at the time of construction events is forecast to augment the market size.
Impact of COVID-19 on the Ultrasonic Testing Market
The outbreak of Coronavirus has adversely affected the growth of the ultrasonic testing market. The decline in the number of new oil and gas exploration projects, the temporary shutdown of production plants, and the reduction in crude oil prices hindered the growth of the ultrasonic testing market. However, the short-term supply chain disturbances affected the market growth in key regions.
Restraint in the Ultrasonic Testing Market
However, the lack of skilled and qualified employees to carry out ultrasonic testing activities is a key factor restraining the growth of the Ultrasonic Testing Market. Moreover, the high cost of automated ultrasonic testing compared to traditional ultrasonic testing is another factor that might decrease demand.
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Services – Segment Analysis
Based on the Services, the Inspection Services segment is expected to grow at a higher CAGR during the forecast period. Its main idea is to inspect objects, materials, machinery, and structures for errors so that they can be rectified in a timely and cost-effective way. During the inspection, one surface of the material has to be available to carry out the inspection. Additionally, in certain instances, an inspection can be carried out on ‘live systems’, which eliminates the need to shut down the factory for inspection.
Based on Services, the inspection services segment is projected to dominate the market over the forecast period. Growing deployment of inspection services in the aerospace industry to detect internal defects in aircraft components with high-level accuracy stands to be a major factor driving the segment’s growth.
Vertical – Segment Analysis
Based on the Vertical, the Power generation segment is expected to grow at the highest CAGR during the forecast period. Ultrasonic Testing plays an essential role in ensuring the safety of nuclear power plants both in inspection through construction and while in-service. Furthermore, developing countries such as India are leveraging power grid infrastructure to enlarge their reach of electricity to nearly every household.
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Regional – Segment Analysis:
Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. This can be attributed owing to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China. Countries in the Asia-Pacific are involved in the construction of defense aircraft, which is expected to increase ultrasonic testing equipment and services in the defense & aerospace industry. Many infrastructural expansion projects are under construction and scheduled to be constructed in the region during the forecast period. The demand for automobiles is estimated to grow substantially by 2026. Rapid development of public infrastructure and expansion in the manufacturing industry are forecast to expand the regional growth over the coming years.
Top Market Players
Various notable players operating in the market include Baker Hughes Company, Olympus Corporation, MISTRAS Group, Intertek Group plc, Amerapex Corporation., Ashtead Technology Ltd, Sonotron NDT, Sonatest, T.D. Williamson, Inc., Zetec, Inc., among others.
Key Developments:
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- In 2020, Walgate Technologies, a leading Baker Hughes business, launched Phoenix Powerlscan HE solution, its first high-energy computed tomography system.
- In 2022, Olympus developed Compact OmniScan™ X3 64-Channel Flaw Detector to improve the Efficiency and Performance of Phased Array and Total Focusing Method Imaging.
- In 2019, MISTRAS Group procured New Century Software (US), a leading provider of pipeline integrity management software and services to energy transportation companies.
- In 2019, Olympus Corporation originated 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 2018, Olympus Corporation launched 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.
Segments covered in the Report:
The global Ultrasonic Testing market has been segmented on the basis of Type, Equipment, Services, Vertical and regions. Based on Type, the market is segmented into Time-of-flight diffraction, Phased array, Immersion testing, Guided wave, Acoustography and Other. Based on Equipment, the market is segmented into Flaw detectors, Thickness gauges, Transducers and probes, Industrial scanners, Tube inspection systems, Bond testers, Imaging systems and Other. Based on Services, the market is segmented into Inspection Services, Training Services, Equipment Rental Services and Calibration services. Based on Vertical the market is segmented into Manufacturing, Oil & Gas, Aerospace, Government Infrastructure, Automotive, Power Generation, Marine and Other.
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Key questions answered in this research report:
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- At what pace is global Ultrasonic Testing market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Ultrasonic Testing market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Ultrasonic Testing market?
- Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
- What are the various Equipment areas of global Ultrasonic Testing market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2020 |
Market Forecast Period |
2021-2028 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Type, By Equipment, By Services, By Vertical, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Baker Hughes Company, Olympus Corporation, MISTRAS Group, Intertek Group plc, Amerapex Corporation., Ashtead Technology Ltd, Sonotron NDT, Sonatest, T.D. Williamson, Inc., Zetec, Inc., among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Ultrasonic Testing Market by Type
-
- Time-of-flight diffraction
- Phased array
- Immersion testing
- Guided wave
- Acoustography
- Other
Global Ultrasonic Testing Market by Equipment
-
- Flaw detectors
- Thickness gauges
- Transducers and probes
- Industrial scanners
- Tube inspection systems
- Bond testers
- Imaging systems
- Other
Global Ultrasonic Testing Market by Services
-
- Inspection Services
- Training Services
- Equipment Rental Services
- Calibration Services
Global Ultrasonic Testing Market by Vertical
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- Manufacturing
- Oil & Gas
- Aerospace
- Government Infrastructure
- Automotive
- Power Generation
- Marine
- Other
Global Ultrasonic Testing Market by Region
-
- North America Ultrasonic Testing Market (Option 1: As a part of the free 25% customization)
- By Type
- By Equipment
- By Services
- By Vertical
- US Market All-Up
- Canada Market All-Up
- Europe Ultrasonic Testing Market (Option 2: As a part of the free 25% customization)
- By Type
- By Equipment
- By Services
- By Vertical
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
- Asia-Pacific Ultrasonic Testing Market (Option 3: As a part of the free 25% customization)
- By Type
- By Equipment
- By Services
- By Vertical
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
- RoW Ultrasonic Testing Market (Option 4: As a part of the free 25% customization)
- By Type
- By Equipment
- By Services
- By Vertical
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
- North America Ultrasonic Testing Market (Option 1: As a part of the free 25% customization)
Major Players Operating in the Ultrasonic Testing (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Baker Hughes Company
- Olympus Corporation
- MISTRAS Group
- Intertek Group plc
- Amerapex Corporation.
- Ashtead Technology Ltd
- Sonotron NDT
- Sonatest
- D. Williamson, Inc.
- Zetec, Inc.
- Published Date: Jul - 2021
- Report Format: Excel/PPT
- Report Code: UP2155-001001
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Ultrasonic Testing Market Share, Size Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report, 2021-2028
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