Some of the key findings from our ultrasonic testing equipment market forecast report are summarized below
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
Global ultrasonic testing equipment industry overview
Pipelines have high importance in the oil and gas industry because of their ability to transport large volumes of fluids. However, pipelines are highly prone to corrosion and defects as they operate under harsh operating environments and carry corrosive liquids. Any leakage or rupture in the pipelines can adversely affect the surrounding environment. Hence, regular maintenance is required to identify any leaks or corrosion. Long range ultrasonic testing can help in the accurate inspection of thick walls and detecting cracks and mid-wall anomalies in pipelines. The growing focus on pipeline safety is increasing the adoption of innovative technologies and best practices which, in turn, is driving the demand for ultrasonic testing equipment for pipeline inspection.
Phased array ultrasonic testing equipment has multiple transducers which emit ultrasonic waves at different angles and provides a more detailed and accurate representation than conventional ultrasonic testing equipment. By using computer-controlled ultrasonic waves, phased array testing equipment can inspect complex geometries which are not possible through conventional ultrasonic testing methods. Moreover, phased array testing equipment allows digital storage of the collected data. These advantages of phased array ultrasonic testing over other ultrasonic testing methods are expected to increase its demand during the forecast period and drive the growth of the market at a CAGR of over 6%.
Top ultrasonic testing equipment companies covered in this market research report
The global ultrasonic testing equipment market is moderately concentrated. To help clients improve their revenue shares in the market, this research report provides an analysis of the market’s competitive landscape and contains information on the products offered by various leading companies. Additionally, this ultrasonic testing equipment market analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.
The report offers a detailed analysis of several leading companies including:
- Eddyfi
- GENERAL ELECTRIC
- OLYMPUS CORPORATION
- Sonatest
- SONOTEC Ultraschallsensorik Halle GmbH
Ultrasonic testing equipment market segmentation based on end-user
- Oil and gas
- Power generation
- Aerospace and defense
- Automotive
- Others
The oil and gas segment will account for the highest share of the ultrasonic testing equipment market because of the increasing construction of pipelines and refineries and growing safety regulations in the oil and gas industry. This report provides an accurate prediction of the contribution of all the segments to the growth of the ultrasonic testing equipment market size.
Ultrasonic testing equipment market segmentation based on geographic region
- The Middle East and Africa
- APAC
- Europe
- North America
- South America
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the ultrasonic testing equipment market throughout the forecast period. The growth of the oil and gas industry and high demand for pipelines in North America are some of the factors driving ultrasonic testing equipment market growth in this region.
Key highlights of the global ultrasonic testing equipment market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the ultrasonic testing equipment market during the next five years
- Precise estimation of the global ultrasonic testing equipment market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ultrasonic testing equipment industry across the Middle East and Africa, APAC, Europe, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of ultrasonic testing equipment companies
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