Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Global Ultrasonic Testing Market is valued at US$ 2.4 billion in 2023 and is expected to grow at a significant CAGR of over 6.0% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Ultrasonic testing, often abbreviated as UT, is a non-destructive testing (NDT) technique used to assess the properties and integrity of materials and structures by employing high-frequency sound waves. It is commonly used for detecting flaws, such as cracks, voids, and discontinuities, as well as for measuring material thickness. Ultrasonic testing is widely applied in various industries, including manufacturing, construction, aerospace, and medicine, to ensure the quality and safety of components and products.
Continuous advancements in ultrasonic testing equipment, including the development of more sophisticated transducers, imaging capabilities, and data analysis software, have improved the accuracy, efficiency, and reliability of ultrasonic testing. This encourages industries to adopt the latest ultrasonic testing techniques.
- According to a deep-dive market assessment by RationalStat, the global ultrasonic testing market has been analyzed on the basis of market segments, including type, equipment type, end user, services and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global ultrasonic testing market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global ultrasonic testing market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Ultrasonic Testing Market: Segmental and Market Share Analysis
- On the basis of services, inspection services is expected to dominate the ultrasonic testing market by services.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.4 billion |
| Market Size Forecast | US$ 3.6 billion |
| Growth Rate | 6.0% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global ultrasonic testing market include,
- In September 2022, Waygate Technologies, part of Baker Hughes introduced Krautkrämer SpotVision. The Krautkrämer SpotVision is a phased array ultrasonic solution intended for spot weld inspection.
- In February 2022, Olympus launched OmniScan™ X3 64-channel flaw detector. The OmniScan™ X3 64-channel flaw detector enhances the company’s PAUT product line.
Some of the prominent players and suppliers operating and contributing significantly to the global ultrasonic testing market growth include MISTRAS Group, Baker Hughes Company, Olympus Corporation, General Electric, Zetec, Inc., NDT Global, Sonatest, Intertek Group plc, Eddyfi Technologies, KARL DEUTSCH Prüf- und Messgerätebau GmbH + Co KG, Oceaneering International, Inc., and Eclipse Scientific, among others.
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RationalStat has segmented the global ultrasonic testing market based on type, equipment type, end user, services and region
- Global Ultrasonic Testing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Guided Wave
- Acoustography
- Immersion Testing
- Time-of-Flight Diffraction
- Phased Array
- Others
- Global Ultrasonic Testing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Services
- Inspection Services
- Calibration Services
- Training Services
- Others
- Global Ultrasonic Testing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Equipment Type
- Transducers & Probes
- Flaw Detectors
- Thickness Gauges
- Automated UT System
- Others
- Global Ultrasonic Testing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Automotive
- Electronics
- Aerospace
- Oil & Gas
- Power Generation
- Others
- Global Ultrasonic Testing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Ultrasonic Testing Market
- US
- Canada
- Latin America Ultrasonic Testing Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Ultrasonic Testing Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Ultrasonic Testing Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Ultrasonic Testing Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Ultrasonic Testing Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Ultrasonic Testing Market
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Key Questions Answered in the Ultrasonic Testing Report:
- What will be the market value of the global ultrasonic testing market by 2030?
- What is the market size of the global ultrasonic testing market?
- What are the market drivers of the global ultrasonic testing market?
- What are the key trends in the global ultrasonic testing market?
- Which is the leading region in the global ultrasonic testing market?
- What are the major companies operating in the global ultrasonic testing market?
- What are the market shares by key segments in the global ultrasonic testing market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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