New York, United States , Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Display Market Size is to Grow from USD 3.4 Billion in 2022 to USD 8.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.6% during the projected period.
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Ultrasonic testing (UT) is a non-destructive testing (NDT) technique that involves the transmission of ultrasonic waves through a surface or object. These high-frequency sound waves are transmitted into materials to assess their properties or identify flaws. It's used in a range of industries, including aluminum and steel construction, metallurgy, manufacturing, aerospace, automotive, and other transportation applications. Ultrasonic testing has a number of advantages, including the capacity to detect internal damage and the absence of radiation. This type of ultrasonic testing can also be utilized for inspection or flaw detection, as well as high-speed rotating engine parts, material thickness, and dimensional measurement. Ultrasonic testing has a number of advantages, including the capacity to detect internal damage and the absence of radiation. This type of ultrasonic testing can also be utilized for inspection or flaw detection, as well as high-speed rotating engine parts, material thickness, and dimensional measurement. Globally, a rising variety of industries are supporting market expansion, fueled by high consumer demand. Similarly, the growing relevance of the military, aerospace, and marine industries is predicted to increase the construction industry, driving market expansion. Additionally, rising investment in residential, commercial, and public buildings is predicted to drive market demand. Along with the deterioration of aging infrastructure and the rapid construction of new infrastructure, there is a growing demand for qualified NDT practitioners.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global Ultrasonic Testing Market Size, Share, and COVID-19 Impact Analysis, By Type (Immersion Testing, Guided Wave, Acoustography, Phased Array, Time-of-Flight Diffraction, Others), By Equipment (Bond Testers, Imaging Systems, Industrial Scanners, Flaw Detectors, Thickness Gauges, Transducers & Probes, Tube Inspection Systems, Others), By Services (Inspection, Training, Equipment Rental, Calibration, Others), By End-Users (Oil & Gas, Aerospace, Automotive, Manufacturing, Marine, Power Generation, Government Infrastructure, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The time-of-flight diffraction segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global ultrasonic testing market is segmented into the immersion testing, guided wave, acoustography, phased array, time-of-flight diffraction, and others. Among these, the time-of-flight diffraction segment is dominating the market with the largest revenue share of 38.6% over the forecast period. TOFD has evolved into one of the most dependable non-destructive testing methodologies for pre-service and in-service evaluation of welding operations. TOFD is widely used in conjunction with other non-destructive testing techniques, such as a phased array.
The flaw detectors segment is expected to hold the largest share of the Global Ultrasonic Testing Market during the forecast period.
Based on the equipment, the global ultrasonic testing market is classified into bond testers, imaging systems, industrial scanners, flaw detectors, thickness gauges, transducers & probes, tube inspection systems, and others. Among these, the flaw detectors segment is expected to hold the largest share of the Ultrasonic Testing market during the forecast period. Because of its versatility and fundamental reliance on fault identification across a wide range of industries, from aviation to infrastructure, it is an essential component of ultrasonic testing. Flaw detectors detect and analyze defects, ruptures, and anomalies in materials.
The training segment is witnessing significant CAGR growth over the forecast period.
On the basis of service, the global ultrasonic testing market is segmented into inspection, training, equipment rental, calibration, and others. Among these, the training segment is witnessing significant CAGR growth over the forecast period, due to the challenge of having a low number of skilled and trained technicians for conducting ultrasonic testing inspections. In addition, the demand for skilled NDT professionals is likely to rise in the coming years due to the rapid development of new infrastructure.
The oil & gas segment accounted for the largest revenue share of more than 34.6% over the forecast period.
On the basis of end-uses, the global ultrasonic testing market is segmented into oil & gas, aerospace, automotive, manufacturing, marine, power generation, government infrastructure, and others. Among these, the oil & gas segment is dominating the market with the largest revenue share of 34.6% over the forecast period. Ultrasonic testing is becoming increasingly important in the oil and gas industry. Given the enormous network of pipelines, storage facilities, and other critical facilities, as well as the inherent dangers and high stakes of the sector, it places a greater emphasis on frequent and detailed inspections.
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Asia-Pacific is predicted to grow at a higher CAGR of around 17.2% over the projected period
North America is dominating the market with more than 38.7% market share over the forecast period. The quick adoption of innovative technologies, the considerable oil and gas infrastructure, and the expansion of sectors that require severe testing methods have all contributed to North America's supremacy in the ultrasonic testing market. Furthermore, the region's continued emphasis on infrastructure construction and maintenance fuels the popularity of ultrasonic testing for structural evaluations, pipeline inspections, and other related responsibilities. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. This is owing to China's robust manufacturing sector and India's fast growth in the public infrastructure sector. Furthermore, Japan's domestic vehicle sector continues to foster market expansion. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the Major vendors in the Global Ultrasonic Testing Market include T.D. Williamson Inc., Bosello High Technology srl, Eddyfi, Magnaflux, Fischer Technology Inc., Cygnus Instruments Ltd., NDT Global GmbH, Acuren, LynX Inspection, Baker Hughes, Olympus Corporation, MISTRAS Group, Intertek, Sonatest, Zetec, Inc., Nikon Metrology, Ashtead Technology, General Electric, and many more.
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Recent Development
- On August 2023, Waygate Technologies, a global leader in non-destructive testing (NDT) solutions for industrial and energy inspection, has introduced Krautkrämer RotoArray comPAct, a portable roller probe for manual Phased Array (PA) ultrasonic inspection of large-scale composite materials. The Krautkrämer RotoArray comPAct features new Baker Hughes proprietary comPAct technology, allowing for lighter, simpler, and more cost-effective ultrasonic (UT) phased array applications.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Ultrasonic Testing Market based on the below-mentioned segments:
Ultrasonic Testing Market, Type Analysis
- Immersion Testing
- Guided Wave
- Acoustography
- Phased Array
- Time-of-Flight Diffraction
- Others
Ultrasonic Testing Market, Equipment Analysis
- Bond Testers
- Imaging Systems
- Industrial Scanners
- Flaw Detectors
- Thickness Gauges
- Transducers & Probes
- Tube Inspection Systems
- Others
Ultrasonic Testing Market, Services Analysis
- Inspection
- Training
- Equipment Rental
- Calibration
- Others
Ultrasonic Testing Market, End-Users Analysis
- Oil & Gas
- Aerospace
- Automotive
- Manufacturing
- Marine
- Power Generation
- Government Infrastructure
- Others
Ultrasonic Testing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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