Pune, Jan. 15, 2021 (GLOBE NEWSWIRE) -- The global ultrasonic cleaning equipment market size is expected to gain momentum by reaching USD 783.1 million by 2027. This is attributable to the rising aerospace industry and the increasing adoption of Industry 4.0 to speed-up the industrial processes that is driving the demand for advanced ultrasonic cleaning equipment globally. Fortune Business Insights, published this information, in its latest report, titled, “Ultrasonic Cleaning Equipment Market Size, Share & COVID-19 Impact Analysis, By Type (Standalone, Benchtop, Multistage), By Application (Automotive, Healthcare, Electrical & Electronics, Aerospace & Defense and Others), and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 604.8 million in 2019 and is projected to exhibit a CAGR of 3.3% between 2020 and 2027.
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Suspension of Industrial Activities amid COVID-19 to Lead to Market Lull
Several countries have halted their industrial operations on account of orders received from the government agencies to limit the widespread effects of the global pandemic. With every industrial application, either suspended or completely stopped, the market is likely to experience turbulent times in the near future. However, once the industrial operations resume, the demand for machine cleaning equipment is projected to gain traction in the forthcoming years.
Ultrasonic cleaning equipment is a type of machine that adopts cavitation bubbles induced with the aid of high-frequency sound waves to agitate liquid surfaces. The agitation enables a high force to remove contaminants such as oils, pigments, dirt, and chemical products from substrates that include glass, metals, rubber, plastics, and ceramics, among others.
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What does the Report Include?
The market report includes a thorough analysis of several factors such as the key drivers and restraints that will impact market growth. In addition to this, it provides insights into the regional analysis that covers different regions, which are contributing to the market growth in the forthcoming years. It further includes the competitive landscape that focuses on leading players and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Increasing Adoption of Industry 4.0 to Surge Demand
Owing to several technological advancements, and the surging demand for efficiency and accuracy across industrial applications is propelling the manufacturers to adopt Industry 4.0 solutions. The increasing adoption of additive manufacturing expedites the accurate monitoring and optimization of this type of cleaning equipment. Additionally, the rising aerospace industry presents a lucrative opportunity for companies to develop advanced precision cleaning equipment. For instance, the aerospace industry requires ultrasonic cleaning equipment solutions to eliminate fracturing of landing gears owing to trapped water that may avert a major mishap.
SEGMENTATION
Healthcare Segment to Hold Highest Market Share
The healthcare segment, based on application, is expected to showcase significant growth backed by the increasing focus on developing healthcare infrastructure that requires advanced ultrasonic cleaner for proper maintenance of high-end medical devices.
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REGIONAL INSIGHTS
Increasing Focus on Development of Healthcare Infrastructure in North America to Aid Growth
Among all the regions, North America is expected to be at the forefront and hold the highest position in the global market in the forthcoming years. This is ascribable to factors such as the increasing focus on developing advanced healthcare infrastructure that propels the demand for efficient ultrasonic cleaning equipment in the region. North America stood at USD 248.4 million in 2019.
The market in Asia-Pacific is expected to gain momentum backed by the presence of mid and small-sized cleaning solvent vendors that are developing advanced ultrasonic cleaning equipment solutions in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Eminent Companies Investing in R&D to Develop Advanced Cleaning Solutions
The global ultrasonic cleaning equipment market is fragmented by the presence of major players that are adopting organic and inorganic strategies to maintain their stronghold. These companies are investing in R&D activities to develop advanced ultrasonic cleaning machine to cater to the growing demand across industrial applications.
Industry Development:
- January 2020 – Guyson International, a leading U.K.-based industrial finishing equipment manufacturer, announced the launch of its extensive range of benchtop ultrasonic cleaning equipment. According to the company, the ultrasonic bath range offers reliable, powerful, and affordable solutions that are ideal for workshops or laboratories, wherein precision cleaning is required.
List of the Companies Operating in the Ultrasonic Cleaning Equipment Market:
- SharperTek (Michigan, United States)
- Mettler Electronics Corp. (California, United States)
- L&R Manufacturing (New Jersey, United States)
- Elma Schmidbauer GmbH (Singen, Germany)
- Luneau Technology Group (Pont-de-l'Arche, France)
- Steelco S.p.A. (Treviso, Italy)
- Emerson Electric Co. (Missouri, United States)
- GT Sonic (Shenzhen, China)
- Kemet International Limited (Maidstone, United Kingdom)
- Crest Ultrasonics Corporation. (New Jersey, United States)
- Blue Wave Ultrasonics (Iowa, United States
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Major Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Ultrasonic Cleaning Equipment Market Share Analysis and Matrix, 2019
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Primary Interview Responses
- Annexure / Appendix
- Global Ultrasonic Cleaning Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Type (Value)
- Standalone
- Benchtop
- Multistage
- By Application (Value)
- Automotive
- Healthcare
- Electrical & Electronics
- Aerospace & Defence
- Others
- By Region (Value)
- North America
- South America
- Europe
- Middle East and Africa
- Asia Pacific
- By Type (Value)
- Global Ultrasonic Cleaning Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
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