Global Ultrasonic Testing Equipment Market 2019-2023
Published: Jan 2019 | Pages: 117 | SKU: IRTNTR30744 |
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
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Oil and gas - Market size and forecast 2018-2023
- Power generation - Market size and forecast 2018-2023
- Aerospace & defense - Market size and forecast 2018-2023
- Automotive - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- Middle East and Africa - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Eddyfi
- GENERAL ELECTRIC
- OLYMPUS CORPORATION
- Sonatest
- SONOTEC Ultraschallsensorik Halle GmbH
PART 14: APPENDIX
- Research methodology
- List of abbreviations
PART 15: EXPLORE TECHNAVIO
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
- Off-the-shelf research reports
- Reports can be tailored to meet the customer's needs
- Trusted by more than 100 fortune 500 organizations
- Information about the market's key drivers, trends, and challenges
- Parent market analysis
- Every week, 50,000 people visit our subscription platform
- Detailed vendors report with competitive landscape
- Covid-19 impact and recovery analysis
- Data on revenue-generating market segments
- Details on the market shares of various regions
- Five-force market analysis