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 Economies
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

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