Ultrasonic Testing Equipment Market Growth, Trends, and Forecast, 2019 - 2027

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Ultrasonic Testing Equipment Market Growth Set To Surge Signi몭cantly During 2019 – 2027 By Transparency Market Research Published January 5, 2022

According to a new market research report titled ‘Ultrasonic Testing Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ published by Transparency Market Research , the global ultrasonic testing equipment market is expected to reach value of US$ 1,868.3 Mn by 2027, expanding at a CAGR of 7.8% from 2019 to 2027. According to the report, the global market is expected to be in몭uenced by continuously rising demand for ultrasonic test equipment for use in the inspection of pipelines in the oil & gas industry during the forecast period. Similarly, other industries, such as power generation, aerospace & defense, automotive, manufacturing, construction, and medical, are also in몭uenced by increased adoption of the ultrasonic testing technology to detect 몭aws, cracks, voids, and discontinuity in the product or material. This increased adoption of ultrasonic testing can directly augment the ultrasonic testing equipment market. In terms of demand, North America is projected to lead the global market for ultrasonic testing equipment, with the market in the region expanding at a CAGR of 7.8% between 2019 and 2027. Increasing investments in the oil & gas industry for safe transportation of oil and gases through pipelines and stringent government regulations about safety and quality controls are anticipated to signi몭cantly drive the market during the forecast period. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? 몭ag=B&rep_id=65396

Rising demand for weld technology for use in oil and gas pipelines The global ultrasonic testing equipment market is projected to expand at a signi몭cant rate during the forecast period, due to increasing demand for use of the weld technology in oil and gas pipelines. At the global level, oil and gases are primarily transported by four mediums: rail, trucks, boats, and pipelines. Among these, 100% of natural gas is transported by pipelines, owing to di몭culty in and the cost of transforming natural gas into liquid form. Also, 70% of crude oil and petroleum products are shipped by pipelines in the U.S. Demand for safe transportation of these explosive gases leads to high demand for ultrasonic testing of the weld technology for pipelines. For this testing, various ultrasonic testing equipment are used across the globe. Apart from the oil & gas industry, ultrasonic testing equipment are increasingly being used in various sectors, such as aerospace & defense, automotive, medical, and construction, in order to identify faults, if any, in the manufacture of components. This testing ensures structural integrity and quality of products. This can make the product or system more e몭cient in terms of performance and reliability. This is projected to augment the demand for ultrasonic testing equipment across the world in the next few years. Global Ultrasonic Testing Equipment Market: Scope of Report The global ultrasonic testing equipment market has been broadly segmented based on product, component, technique, end-use industry, and region. In terms of product, the market has been divided into 몭aw detectors, thickness gauges, ultrasonic scanners, and others. Among these, the 몭aw detectors segment holds a signi몭cant share of the market, owing to portability and ease of use offered by 몭aw detectors. Ultrasonic 몭aw detectors are small-sized, portable, microprocessorbased instruments suitable for both shop and 몭eld use. They generate and display an ultrasonic waveform that enables a trained operator to locate and categorize 몭aws in test pieces, often with the aid of analysis software. The 몭aw detectors segment is anticipated to expand at a CAGR of 7.9% during the forecast period. In terms of component, the ultrasonic testing equipment market has been classi몭ed into hardware and services. Among these, the hardware segment held a prominent share of the global market in 2018 and is further expected to maintain its dominance throughout the forecast period. In terms of technique, the market has been categorized into conventional and advanced. The advanced segment comprises several testing techniques such as time-of-몭ight diffraction, phased array, long-range ultrasonic testing (LRUT), and others. Owing to continuous

innovations in ultrasonic testing techniques, the advanced segment is anticipated to hold ~80% share towards the end of the forecast period. Based on end-use industry, the global ultrasonic testing equipment market has been classi몭ed into oil & gas, aerospace & defense, power generation, automotive, manufacturing, and others. The oil & gas segment is expected to consistently lead the ultrasonic testing equipment market owing to increasing investments in the oil & gas industry. In terms of geography, the global ultrasonic testing equipment market has been segmented into North America, Europe, Asia Paci몭c, Middle East & Africa, and South America. In 2018, North America was the leading market, followed by Europe. The market in Asia Paci몭c is expected to expand at a highest CAGR of 8.2% from 2019 to 2027. Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php? rep_id=65396&ltype=S Global Ultrasonic Testing Equipment Market: Competition Scenario Key players operating in the global ultrasonic testing equipment market are focusing on the development of new products and their introduction in the market so as to gain a competitive edge and improve their brand positioning in the market. Currently, two players i.e. Olympus Corporation and Sonatest Ltd. generate the maximum revenue. Other players operating in the market are Baker Hughes, LLC (a GE company), TecScan System Inc., Ndt Systems Inc., Cygnus Instruments Inc., Amerapex Corporation, Zeal International, Ametek, Inc., and Eddy몭 NDT Inc. The global ultrasonic testing equipment market has been segmented as follows: Global Ultrasonic Testing Equipment Market, by Product Flaw Detectors Thickness Gauges Ultrasonic Scanners Others Global Ultrasonic Testing Equipment Market, by Component Hardware

Services Global Ultrasonic Testing Equipment Market, by Technique Conventional Advanced Global Ultrasonic Testing Equipment Market, by End-use Industry Oil & Gas Aerospace & Defense Power Generation Automotive Manufacturing Others TMR Latest News Publication: https://www.einpresswire.com/article/557408364/test-automation-systems-forpowertrain-dynamometer-market-cutting-edge-test-automation-systems-todrive-demand About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail 몭exible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the uni몭ed market intelligence engine. Sign Up for a 7 day free trial! Contact Rohit Bhisey Transparency Market Research

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In this article: Latest Industry News, Ultrasonic Testing Equipment Market Analysis , Ultrasonic Testing Equipment Market Demands , Ultrasonic Testing Equipment Market Forecasts , Ultrasonic Testing Equipment Market Growth , Ultrasonic Testing Equipment Market Key Players , Ultrasonic Testing Equipment Market Manufacturers , Ultrasonic Testing Equipment Market Opportunities , Ultrasonic Testing Equipment Market Overview , Ultrasonic Testing Equipment Market Report , Ultrasonic Testing Equipment Market Research , Ultrasonic Testing Equipment Market Share , Ultrasonic Testing Equipment Market Size , Ultrasonic Testing Equipment Market Trends

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