Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Acoustic Emission Testing: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Acoustic Emission Testing market is expected to experience significant growth, with an estimated value of $358.9 million in 2022, projected to reach $571.5 million by 2030.
This growth is driven by various factors, including the increasing demand for Non-Destructive Testing (NDT) solutions, government initiatives supporting effective NDT implementation, and the emerging application of Acoustic Emission Testing in various industries.
Key Market Trends:
Machine Health Monitoring: One of the major application areas of Acoustic Emission Testing is machine health monitoring. This technology is used to monitor the health and integrity of machines and equipment, helping detect potential issues and prevent breakdowns.
Government Initiatives: Government initiatives that support the effective implementation of Non-Destructive Testing solutions are favoring market growth. These initiatives aim to improve safety and reliability across industries.
Wind Power Industry: The global wind power market is a significant driver for Acoustic Emission Testing, with a focus on monitoring and maintaining wind turbines. This sector's growth contributes to the demand for testing equipment.
Aircraft Maintenance: The aircraft maintenance, repair, and overhaul market also drive demand for Acoustic Emission Testing. Ensuring the safety and reliability of aging aircraft is crucial, making AE testing equipment essential.
Safety Concerns: Rising safety concerns across industries, including power generation, infrastructure, and manufacturing, are driving the adoption of Acoustic Emission Testing. This technology helps identify potential failures and safety risks.
Aging Infrastructure: The urgent need to inspect aging infrastructure worldwide is spurring the growth of Acoustic Emission Testing equipment. It is essential for maintaining the integrity of critical structures and facilities.
Market Scope
This extensive analysis examines the global market for acoustic emission testing, covering a range of aspects. Firstly, it provides a historical review and future outlook for annual sales in US$ thousand for the years 2014 through 2030. Additionally, the analysis is broken down by geographic region, including the USA, Canada, Japan, China, Europe, Asia-Pacific, and the Rest of the World.
It offers insights into recent, current, and future trends, with a focus on annual sales figures in US$ thousand for the years 2022 through 2030, along with corresponding percentage Compound Annual Growth Rates (% CAGR).
Furthermore, the study presents a 16-year perspective, showing the percentage breakdown of value sales for the years 2014, 2023, and 2030 across various regions. The analysis extends to various equipment categories such as sensors, amplifiers, detection instruments, other equipment, storage tanks, turbines, pipelines, structural monitoring, aging aircraft, and other applications, each with its historical review, current analysis, and future outlook.
This comprehensive overview provides valuable insights into the acoustic emission testing market and its various components and applications.
Select Competitors (Total 21 Featured) -
- Acoustic Emission Consulting, Inc.
- General Electric Company
- KRN Services
- Parker Hannifin Corporation
- Score Atlanta
- Tuv Nord Group
- TUV Rheinland AG
- Vallen Systeme GmbH
What's New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 234 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $313.7 Million |
| Forecasted Market Value (USD) by 2027 | $469.6 Million |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/v0ui8d
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