Ultrasonic Testing Market with COVID-19 Impact by Type (Time-of Flight Diffraction, Immersion Testing) , Equipment (Flaw Detectors, Imaging System, and Bond Testers), Service, Vertical, and Geography - Global Forecast to 2026
The global ultrasonic testing market size is estimated to grow from USD 3.0 Billion in 2021 to USD 4.2 Billion by 2026, at a CAGR of 7.1%. Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are a few major factors driving the ultrasonic testing market growth. The high adoption of IoT devices and the rising need to assess the health of aging assets are the other factors that propel the development of the ultrasonic testing market.
“Based on type, the market for the phased array type to witness a high CAGR during the forecast period.”
The phased array testing type is expected to multiply during the forecast period from 2021 to 2026. This type is used to measure or identify the subsurface cracks & seams, flaws, crack depth, coating thickness, and permeability. Phased array type reduces the use of multiple elements to steer, focus, and scan beams with a single transducer assembly. It optimizes defect detection and minimizes inspection time. It is used widely in the power generation, construction and manufacturing verticals and service environments that inspect safety or quality-related issues. The phased array type is used to check surface-breaking cracks on metals and inspect discontinuities in metal tubes.
“Training services to grow at the highest CAGR during the forecast period.”
Training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers' changing demands is equally essential. The market for training services is expected to grow at the highest CAGR during the forecast period.
APAC to be the fastest-growing market for ultrasonic testing activities
Asia Pacific is likely to be the fastest-growing region in the ultrasonic testing market due to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China. The Make in India campaign promotion by the government and the development in the Smart Cities project provide lucrative opportunities for the players in the ultrasonic testing market in India. The market in India is expected to grow at the highest CAGR during the forecast period.
In-depth interviews have been conducted with C-level executives, managers, and other executives from various key organizations operating in the ultrasonic testing market.
Break-up of profiles of primary participants for the report is given below:
The report defines, describes, and forecasts the ultrasonic testing market based on type, equipment, service, vertical, and geography. It also analyzes competitive developments such as product launches and developments, agreements, partnerships, collaborations, mergers and acquisitions, and expansions carried out by key players to grow in the market.
Key Benefits of Buying the Report
1. This report segments the ultrasonic testing market comprehensively and provides the closest approximations of the overall market size and subsegments across different applications and regions.
2. The report would help stakeholders understand the market's pulse and provide them with information on key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market in the recent past.
“Based on type, the market for the phased array type to witness a high CAGR during the forecast period.”
The phased array testing type is expected to multiply during the forecast period from 2021 to 2026. This type is used to measure or identify the subsurface cracks & seams, flaws, crack depth, coating thickness, and permeability. Phased array type reduces the use of multiple elements to steer, focus, and scan beams with a single transducer assembly. It optimizes defect detection and minimizes inspection time. It is used widely in the power generation, construction and manufacturing verticals and service environments that inspect safety or quality-related issues. The phased array type is used to check surface-breaking cracks on metals and inspect discontinuities in metal tubes.
“Training services to grow at the highest CAGR during the forecast period.”
Training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers' changing demands is equally essential. The market for training services is expected to grow at the highest CAGR during the forecast period.
APAC to be the fastest-growing market for ultrasonic testing activities
Asia Pacific is likely to be the fastest-growing region in the ultrasonic testing market due to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China. The Make in India campaign promotion by the government and the development in the Smart Cities project provide lucrative opportunities for the players in the ultrasonic testing market in India. The market in India is expected to grow at the highest CAGR during the forecast period.
In-depth interviews have been conducted with C-level executives, managers, and other executives from various key organizations operating in the ultrasonic testing market.
Break-up of profiles of primary participants for the report is given below:
- By Company Type: Tier 1 – 26%, Tier 2 – 32%, and Tier 3 – 42%
- By Designation: C-Level Executives –52%, Directors – 23%, and Managers – 25%
- By Region: North America - 44%, Europe – 29%, APAC – 23%, and RoW – 4%
- Baker Hughes (US)
- Olympus Corporation (Japan)
- MISTRAS Group (US)
- Intertek (UK)
- Sonatest LTD (UK)
- Amerapex Corporation (US)
- Sonotron NDT (Israel)
- Tecscan Systems Inc (Canada)
- Ashtead Technology (Scotland)
- NDT Systems Inc (US)
- Eddyfi (Canada)
- Applied Technical Services Inc (US)
The report defines, describes, and forecasts the ultrasonic testing market based on type, equipment, service, vertical, and geography. It also analyzes competitive developments such as product launches and developments, agreements, partnerships, collaborations, mergers and acquisitions, and expansions carried out by key players to grow in the market.
Key Benefits of Buying the Report
1. This report segments the ultrasonic testing market comprehensively and provides the closest approximations of the overall market size and subsegments across different applications and regions.
2. The report would help stakeholders understand the market's pulse and provide them with information on key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market in the recent past.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 ULTRASONIC TESTING MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size using bottom-up approach (demand side)
FIGURE 3 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
(SUPPLY SIDE)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for arriving at market size by top-down analysis
(supply side)
FIGURE 5 TOP-DOWN APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
(DEMAND SIDE)
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
TABLE 1 ULTRASONIC TESTING MARKET, 2017-2026 (THOUSAND UNITS)
FIGURE 8 ULTRASONIC TESTING MARKET SIZE, 2017–2026 (USD MILLION)
TABLE 2 PRE- AND POST-COVID-19 IMPACT ANALYSIS FOR ULTRASONIC TESTING MARKET, 2017–2025 (USD MILLION)
FIGURE 9 PHASED ARRAY TECHNIQUE IS EXPECTED TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
FIGURE 10 ULTRASONIC TESTING MARKET, BY SERVICE (2021 VS. 2026)
FIGURE 11 POWER GENERATION VERTICAL TO EXHIBIT HIGHEST GROWTH BETWEEN 2021 AND 2026
FIGURE 12 NORTH AMERICA HELD LARGEST SHARE OF ULTRASONIC TESTING MARKET IN 2020
4 PREMIUM INSIGHTS
4.1 LUCRATIVE OPPORTUNITIES IN ULTRASONIC TESTING MARKET
FIGURE 13 POWER GENERATION SECTOR TO DRIVE ULTRASONIC TESTING MARKET FROM 2021 TO 2026
4.2 ULTRASONIC TESTING MARKET, BY SERVICE
FIGURE 14 INSPECTION SERVICES TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
4.3 ULTRASONIC TESTING MARKET, BY EQUIPMENT AND REGION
FIGURE 15 FLAW DETECTORS AND NORTH AMERICA HELD LARGEST SHARE OF ULTRASONIC TESTING EQUIPMENT MARKET IN 2020
4.4 ULTRASONIC TESTING MARKET, BY TYPE
FIGURE 16 PHASED ARRAY METHOD TO GROW AT HIGHEST RATE IN ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
4.5 ULTRASONIC TESTING MARKET, BY REGION
FIGURE 17 ULTRASONIC TESTING MARKET IN APAC TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
4.6 MARKET GROWTH RATE OF MAJOR COUNTRIES, 2021–2026
FIGURE 18 MEXICAN ULTRASONIC TESTING MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 ULTRASONIC TESTING MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Development of portable phased array ultrasonic testing equipment
5.2.1.2 Need for reliable non-destructive testing technique for fiberglass and carbon fiber composites in manufacturing
5.2.1.3 Growth in ultrasonic testing market services
5.2.1.4 Government mandates regarding employee safety and stringent quality control requirements
5.2.1.5 Maintenance needs of aging infrastructure
5.2.2 RESTRAINTS
5.2.2.1 Limitations of manual ultrasonic testing in detecting early stages of damage
5.2.2.2 High cost of automated ultrasonic testing equipment
5.2.3 OPPORTUNITIES
5.2.3.1 Growing infrastructure development in emerging economies
5.2.3.2 Opportunities in power generation sector
5.2.4 CHALLENGES
5.2.4.1 Decreasing oil and gas prices
5.2.4.2 Lack of skilled technicians
5.3 AVERAGE SELLING PRICE ANALYSIS
FIGURE 20 AVERAGE SELLING PRICE OF ULTRASONIC TESTING EQUIPMENT
FIGURE 21 AVERAGE SELLING PRICE, BY NDT TECHNOLOGY
5.4 LEADING ASSOCIATIONS, REGULATIONS, AND STANDARDS
5.4.1 THE AMERICAN SOCIETY FOR NON-DESTRUCTIVE TESTING
5.4.2 THE BRITISH INSTITUTE OF NON-DESTRUCTIVE TESTING
5.4.3 ASTM INTERNATIONAL
5.5 TARIFFS
TABLE 3 MFN TARIFFS FOR PARTS AND ACCESSORIES OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES EXPORTED BY US
TABLE 4 MFN TARIFFS ON PARTS AND ACCESSORIES OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES IMPORTED FROM CHINA
5.5.1 NEGATIVE IMPACT OF TARIFFS ON ULTRASONIC TESTING MARKET
5.5.2 POSITIVE IMPACT OF TARIFFS ON ULTRASONIC TESTING MARKET
5.6 CASE STUDIES
5.6.1 EVALUATION OF CRACKS IN PETROLEUM PIPELINE
5.6.2 IMAGE DATA PROCESSING IN AUTOMATED ULTRASONIC TESTING
5.7 PORTER’S FIVE FORCES ANALYSIS
TABLE 5 ULTRASONIC TESTING MARKET: PORTER’S FIVE FORCES ANALYSIS (2020)
5.7.1 THREAT OF NEW ENTRANTS
5.7.2 THREAT OF SUBSTITUTES
5.7.3 BARGAINING POWER OF SUPPLIERS
5.7.4 BARGAINING POWER OF BUYERS
5.7.5 INTENSITY OF COMPETITIVE RIVALRY
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 22 VALUE CHAIN ANALYSIS: ULTRASONIC TESTING MARKET – MAJOR VALUE IS ADDED DURING MANUFACTURING AND ASSEMBLY PHASES
6.2.1 CORE INDUSTRY SEGMENTS
6.2.1.1 Raw material providers
6.2.1.2 Component manufacturers
6.2.1.3 Assemblers
6.2.1.4 Sales and distribution and equipment services
6.2.1.5 End-use applications
6.3 KEY INDUSTRY TRENDS IN ULTRASONIC TESTING MARKET
6.4 PATENT ANALYSIS
TABLE 6 IMPORTANT INNOVATIONS AND PATENTS REGISTRATION
6.5 ECOSYSTEM/MARKET MAP
FIGURE 23 ULTRASONIC TESTING MARKET ECOSYSTEM
TABLE 7 ECOSYSTEM OF ULTRASONIC TESTING MARKET
6.6 TRADE ANALYSIS
6.6.1 IMPORT SCENARIO
FIGURE 24 IMPORT DATA OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES FOR TOP 5 COUNTRIES, 2016–2020 (THOUSAND UNITS)
6.6.2 EXPORTS SCENARIO
FIGURE 25 EXPORT DATA OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES, 2016–2020 (THOUSAND UNITS)
6.7 TECHNOLOGY ANALYSIS
6.7.1 KEY TECHNOLOGIES
6.7.1.1 Electromagnetic acoustic transducer (EMAT) technique
6.7.1.2 Long-range ultrasonic technique (LRUT)
6.7.2 COMPLEMENTARY TECHNOLOGIES
6.7.2.1 Dynamic thermography
6.7.2.2 Air-coupled ultrasound
6.7.3 ADJACENT TECHNOLOGIES
6.7.3.1 Positive metal identification technique
6.7.3.2 Dynamic interferometry
7 ULTRASONIC TESTING MARKET, BY TYPE
7.1 INTRODUCTION
FIGURE 26 ULTRASONIC TESTING MARKET, BY TYPE
TABLE 8 ULTRASONIC TESTING MARKET, BY TYPE, 2017–2020 (USD MILLION)
TABLE 9 ULTRASONIC TESTING MARKET, BY TYPE, 2021–2026 (USD MILLION)
FIGURE 27 PHASED ARRAY IS EXPECTED TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
7.2 PHASED ARRAY
7.2.1 FASTER ADOPTION RATE DUE TO HIGHER ACCURACY AND MINIMAL TIME CONSUMPTION IN INSPECTION AND DEFECT DETECTION
7.3 TIME-OF-FLIGHT DIFFRACTION
7.3.1 HIGH PRECISION WITH MINIMAL FAILURE RISK IS DRIVING TOFD SEGMENT
7.4 IMMERSION TESTING
7.4.1 CAPABILITY OF DETECTING SMALL DEFECTS IS DRIVING ADOPTION OF IMMERSION TESTING IN INDUSTRIAL AND MANUFACTURING SECTORS
7.5 GUIDED WAVE TESTING
7.5.1 HIGH ADOPTION RATE DUE TO LONG RANGE INSPECTION AND MONITORING CAPABILITIES
7.6 ACOUSTOGRAPHY
7.6.1 ULTRASONIC AREA INSPECTION TECHNIQUE IS ADOPTED FOR SINGLE-SIDE INSPECTION FOR IMAGING PROCESS
7.7 OTHERS
8 ULTRASONIC TESTING MARKET, BY EQUIPMENT
8.1 INTRODUCTION
FIGURE 28 ULTRASONIC TESTING MARKET, BY EQUIPMENT
TABLE 10 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 11 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 12 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2017–2020 (USD MILLION)
TABLE 13 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2021–2026 (USD MILLION)
FIGURE 29 FLAW DETECTORS TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
8.2 FLAW DETECTORS
8.2.1 UNIQUE IDENTIFICATION CAPABILITIES OF DISCONTINUITIES HAS INCREASED ADOPTION RATE OF FLAW DETECTORS IN DIVERSE VERTICALS
TABLE 14 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 15 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 16 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY REGION, 2017–2020 (USD MILLION)
TABLE 17 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY REGION, 2021–2026 (USD MILLION)
FIGURE 30 ULTRASONIC FLAW DETECTORS MARKET EXPECTED TO GROW AT HIGHEST CAGR IN APAC BETWEEN 2021 AND 2026
8.3 THICKNESS GAUGES
8.3.1 MEASUREMENT PRECISION DRIVES ADOPTION OF THICKNESS GAUGES IN OIL & GAS AND POWER GENERATION VERTICALS
TABLE 18 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 19 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 20 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY REGION, 2017–2020 (USD MILLION)
TABLE 21 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY REGION, 2021–2026 (USD MILLION)
8.4 TRANSDUCERS AND PROBES
8.4.1 CRITICAL INSPECTION CAPABILITIES ARE DRIVING ADOPTION OF TRANSDUCERS AND PROBES
TABLE 22 ULTRASONIC TESTING MARKET FOR TRANSDUCERS AND PROBES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 23 ULTRASONIC TESTING MARKET FOR TRANSDUCERS AND PROBES, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 31 POWER GENERATION EXPECTED TO DOMINATE ULTRASONIC TRANSDUCERS AND PROBES MARKET DURING FORECAST PERIOD
TABLE 24 ULTRASONIC TESTING MARKET SIZE FOR TRANSDUCERS AND PROBES, BY REGION, 2017–2020 (USD MILLION)
TABLE 25 ULTRASONIC TESTING MARKET SIZE FOR TRANSDUCERS AND PROBES, BY REGION, 2021–2026 (USD MILLION)
8.5 INDUSTRIAL SCANNERS
8.5.1 LOW COST AND IMPROVED QUALITY AND PRECISION IN SCANNING RESULTS HAS INCREASED ADOPTION OF INDUSTRIAL SCANNERS
TABLE 26 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 27 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 28 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY REGION, 2017–2020 (USD MILLION)
TABLE 29 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY REGION, 2021–2026 (USD MILLION)
8.6 TUBE INSPECTION SYSTEMS
8.6.1 LARGE-SCALE ADOPTION IN POWER GENERATION VERTICAL DUE TO HIGH-PRECISION DETECTION OF DAMAGES SUCH AS CORROSION AND CRACKS
TABLE 30 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 31 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 32 NORTH AMERICA TO DOMINATE ULTRASONIC MARKET FOR TUBE INSPECTION SYSTEMS DURING FORECAST PERIOD
TABLE 32 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
TABLE 33 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
8.7 BOND TESTERS
8.7.1 BOND TESTERS ARE BEING HIGHLY ADOPTED IN OIL & GAS AND AEROSPACE VERTICALS
TABLE 34 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 35 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 36 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY REGION, 2017–2020 (USD MILLION)
TABLE 37 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY REGION, 2021–2026 (USD MILLION)
8.8 IMAGING SYSTEMS
8.8.1 INCREASING ADOPTION RATE DUE TO QUALITY CONTROL AND PRECISE FLAW DETECTION CAPABILITIES
TABLE 38 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 39 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 40 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
TABLE 41 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
8.9 OTHERS
TABLE 42 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 43 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 44 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY REGION, 2017–2020 (USD MILLION)
TABLE 45 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY REGION, 2021–2026 (USD MILLION)
9 ULTRASONIC TESTING MARKET, BY SERVICE
9.1 INTRODUCTION
FIGURE 33 ULTRASONIC TESTING MARKET, BY SERVICE
TABLE 46 ULTRASONIC TESTING MARKET, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 47 ULTRASONIC TESTING MARKET, BY SERVICE, 2021–2026 (USD MILLION)
FIGURE 34 INSPECTION SERVICES TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
9.2 INSPECTION SERVICES
9.2.1 HIGH ADOPTION RATE DUE TO BETTER ACCURACY AND EFFICIENCY, FASTER INSPECTION, AND LOW COST
TABLE 48 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 49 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 35 POWER GENERATION IS EXPECTED TO DOMINATE ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES DURING FORECAST PERIOD
TABLE 50 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 51 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY REGION, 2021–2026 (USD MILLION)
9.3 EQUIPMENT RENTAL SERVICES
9.3.1 LOW COST AND APPROPRIATE AVAILABILITY AS PER NEED ARE DRIVING DEMAND FOR EQUIPMENT RENTAL SERVICES
TABLE 52 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 53 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 54 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 55 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY REGION, 2021–2026 (USD MILLION)
9.4 CALIBRATION SERVICES
9.4.1 INCREASING ADOPTION DUE TO ACCURACY IN MEASUREMENT BY REDUCING UNCERTAINTIES IN TESTING EQUIPMENT
TABLE 56 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 57 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 58 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 59 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY REGION, 2021–2026 (USD MILLION)
9.5 TRAINING SERVICES
9.5.1 GROWING DEMAND FOR ULTRASONIC TESTING EQUIPMENT AND SERVICES IS DRIVING NEED FOR TRAINING SERVICES IN APAC AND NORTH AMERICAN REGIONS
TABLE 60 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 61 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 62 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 63 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY REGION, 2021–2026 (USD MILLION)
FIGURE 36 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES EXPECTED TO GROW AT HIGHEST RATE IN APAC DURING FORECAST PERIOD
10 ULTRASONIC TESTING MARKET, BY VERTICAL
10.1 INTRODUCTION
FIGURE 37 ULTRASONIC TESTING MARKET, BY VERTICAL
TABLE 64 ULTRASONIC TESTING MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 65 ULTRASONIC TESTING MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 38 POWER GENERATION EXPECTED TO GROW AT HIGHEST RATE AND DOMINATE ULTRASONIC TESTING MARKET BY 2026
TABLE 66 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 67 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 68 ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 69 ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
10.2 MANUFACTURING
10.2.1 INCREASE IN ADOPTION RATE DUE TO NEED FOR MONITORING, INSPECTION, AND QUALITY CONTROL OF MATERIALS
TABLE 70 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 71 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 72 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 73 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.3 OIL & GAS
10.3.1 NEED FOR PRECISION, RELIABILITY, SAFETY, AND IMPROVED UTILIZATION OF MATERIALS LED TO HIGH ADOPTION RATE IN OIL & GAS VERTICAL
10.3.2 REFINING
10.3.3 SUBSEA PIPELINES
10.3.4 STORAGE TANKS
TABLE 74 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY EQUIPMENT, 2017–2026 (USD MILLION)
TABLE 75 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
FIGURE 39 ULTRASONIC FLAW DETECTORS TO HOLD LARGEST SIZE IN OIL & GAS VERTICAL DURING FORECAST PERIOD
TABLE 76 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 77 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.4 AEROSPACE
10.4.1 NEED FOR HIGH PRECISION, INCREASED SAFETY, AND QUALITY ASSURANCE AUGMENT ADOPTION OF ULTRASONIC TESTING EQUIPMENT IN AEROSPACE VERTICAL
10.4.2 AIRCRAFT ENGINE PART PRODUCTION TO BE KEY APPLICATION AREA OF ULTRASONIC TESTING
10.4.3 AIRPLANE MAINTENANCE APPLICATIONS
TABLE 78 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 79 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 80 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 81 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.5 GOVERNMENT INFRASTRUCTURE
10.5.1 RISING DEMAND FOR INFRASTRUCTURE DEVELOPMENT HAS LED TO INCREASE IN ADOPTION OF ULTRASONIC TESTING EQUIPMENT AND SERVICES
10.5.2 MILITARY & DEFENSE
10.5.3 RAILWAYS INDUSTRY
10.5.4 BRIDGES AND TUNNELS
TABLE 82 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 83 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 84 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 85 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.6 AUTOMOTIVE
10.6.1 ULTRASONIC TESTING EQUIPMENT DETECT FLAWS AND CORROSION IN LARGE AUTOMOTIVE COMPONENTS
TABLE 86 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 87 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 88 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 89 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.7 POWER GENERATION
10.7.1 RISING DEMAND FOR ENERGY HAS LED TO INCREASED USE OF ULTRASONIC TESTING EQUIPMENT AND SERVICES IN POWER PLANTS
10.7.2 NUCLEAR POWER DRIVES GROWTH OF ULTRASONIC TESTING IN POWER GENERATION
10.7.3 RENEWABLE ENERGY
10.7.4 FOSSIL FUEL ENERGY
TABLE 90 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 91 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 92 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY SERVICE 2017–2020 (USD MILLION)
TABLE 93 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY SERVICE 2021–2026 (USD MILLION)
FIGURE 40 INSPECTION SERVICES TO HOLD LARGEST SIZE IN ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL DURING FORECAST PERIOD
10.8 MARINE
10.8.1 ULTRASONIC INSPECTION SERVICES ARE USED IN MARINE SECTOR TO ENSURE INTEGRITY OF SHIPS AND THEIR COMPONENTS
TABLE 94 ULTRASONIC TESTING MARKET FOR MARINE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 95 ULTRASONIC TESTING MARKET FOR MARINE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 96 ULTRASONIC TESTING MARKET SIZE FOR MARINE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 97 ULTRASONIC TESTING MARKET SIZE FOR MARINE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.9 OTHERS
10.9.1 HEALTHCARE
10.9.2 PLASTICS AND POLYMERS
TABLE 98 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 99 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 100 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 101 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY SERVICE, 2021–2026 (USD MILLION)
11 GEOGRAPHIC ANALYSIS
11.1 INTRODUCTION
FIGURE 41 ULTRASONIC TESTING MARKET, BY COUNTRY
TABLE 102 ULTRASONIC TESTING MARKET, BY REGION, 2017–2020 (USD MILLION)
TABLE 103 ULTRASONIC TESTING MARKET, BY REGION, 2021–2026 (USD MILLION)
TABLE 104 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2017–2020 (USD MILLION)
TABLE 105 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2021–2026 (USD MILLION)
TABLE 106 ULTRASONIC TESTING MARKET FOR SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 107 ULTRASONIC TESTING MARKET FOR SERVICES, BY REGION, 2021–2026 (USD MILLION)
11.2 NORTH AMERICA
11.2.1 DEMAND FROM GOVERNMENT INFRASTRUCTURE AND MANUFACTURING VERTICALS DRIVES ULTRASONIC TESTING EQUIPMENT AND SERVICES MARKET
FIGURE 42 SNAPSHOT OF ULTRASONIC TESTING MARKET IN NORTH AMERICA
TABLE 108 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 109 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 110 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 111 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 112 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 113 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY SERVICE, 2021–2026 (USD MILLION)
FIGURE 43 INSPECTION SERVICES TO DOMINATE NORTH AMERICAN ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
11.2.2 US
11.2.2.1 US to hold largest share of ultrasonic testing market in
North America by 2026
11.2.3 CANADA
11.2.3.1 Growing demand for advanced materials testing to drive ultrasonic testing market in Canada
11.2.4 MEXICO
11.2.4.1 Mexican ultrasonic testing market to grow at highest CAGR in
North America during forecast period
11.3 EUROPE
11.3.1 RAPID INFRASTRUCTURAL DEVELOPMENT TO DRIVE ULTRASONIC EQUIPMENT AND SERVICES MARKET IN EUROPE
FIGURE 44 SNAPSHOT OF ULTRASONIC TESTING MARKET IN EUROPE
TABLE 114 ULTRASONIC TESTING MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 115 ULTRASONIC TESTING MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 116 ULTRASONIC TESTING MARKET IN EUROPE, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 117 ULTRASONIC TESTING MARKET IN EUROPE, BY EQUIPMENT, 2021–2026 (USD MILLION)
FIGURE 45 TUBE INSPECTION SYSTEMS TO GROW AT HIGHEST RATE IN EUROPEAN ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
TABLE 118 ULTRASONIC TESTING MARKET IN EUROPE, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 119 ULTRASONIC TESTING MARKET IN EUROPE, BY SERVICE, 2021–2026 (USD MILLION)
11.3.2 UK
11.3.2.1 Growing aerospace and power generation sector to drive ultrasonic testing market
11.3.3 GERMANY
11.3.3.1 Growing applications in aerospace & defense vertical to drive of ultrasonic testing market in Germany
11.3.4 FRANCE
11.3.4.1 Growing automobile vertical to drive ultrasonic testing market in France
11.3.5 ITALY
11.3.5.1 Increasing oil refining capabilities of Italy to drive ultrasonic testing market
11.3.6 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 CHINA TO DOMINATE ULTRASONIC TESTING MARKET IN APAC DUE TO INCREASED DEMAND FROM MANUFACTURING AND OIL & GAS VERTICALS
FIGURE 46 SNAPSHOT OF ULTRASONIC TESTING MARKET IN APAC
TABLE 120 ULTRASONIC TESTING MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 121 ULTRASONIC TESTING MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 122 ULTRASONIC TESTING MARKET IN APAC, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 123 ULTRASONIC TESTING MARKET IN APAC, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 124 ULTRASONIC TESTING MARKET IN APAC, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 125 ULTRASONIC TESTING MARKET IN APAC, BY SERVICE, 2021–2026 (USD MILLION)
11.4.2 CHINA
11.4.2.1 China accounts for largest share of ultrasonic testing market in APAC
11.4.3 JAPAN
11.4.3.1 Growth in nuclear power generation vertical in Japan to drive ultrasonic testing market
11.4.4 INDIA
11.4.4.1 Growth in domestic manufacturing industry to encourage demand for ultrasonic testing equipment and inspection services
11.4.5 REST OF APAC
11.5 REST OF THE WORLD
FIGURE 47 ROW: ULTRASONIC TESTING MARKET, 2021 VS. 2026
TABLE 126 ULTRASONIC TESTING MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)
TABLE 127 ULTRASONIC TESTING MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)
TABLE 128 ULTRASONIC TESTING MARKET IN ROW, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 129 ULTRASONIC TESTING MARKET IN ROW, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 130 ULTRASONIC TESTING MARKET IN ROW, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 131 ULTRASONIC TESTING MARKET IN ROW, BY SERVICE, 2021–2026 (USD MILLION)
11.5.1 SOUTH AMERICA
11.5.1.1 Oil & gas and power generation industries to drive demand for ultrasonic testing equipment and services in South America
11.5.2 MIDDLE EAST
11.5.2.1 Growing investments in infrastructure and oil & gas sectors to drive ultrasonic testing market in Middle East
11.5.3 AFRICA
11.5.3.1 Growth in marine vertical to drive African ultrasonic testing market
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 MARKET EVALUATION FRAMEWORK
TABLE 132 OVERVIEW OF STRATEGIES DEPLOYED BY PLAYERS IN
ULTRASONIC TESTING MARKET
12.2.1 PRODUCT PORTFOLIO
12.2.2 REGIONAL FOCUS
12.2.3 MANUFACTURING FOOTPRINT
12.2.4 ORGANIC/INORGANIC PLAY
12.3 MARKET SHARE ANALYSIS, 2020
TABLE 133 ULTRASONIC TESTING MARKET: MARKET SHARE ANALYSIS, 2020
12.4 REVENUE ANALYSIS OF TOP 4 PLAYERS IN ULTRASONIC TESTING MARKET
FIGURE 48 FIVE-YEAR REVENUE ANALYSIS OF TOP FOUR PLAYERS IN ULTRASONIC TESTING MARKET
12.5 COMPANY EVALUATION QUADRANT
12.5.1 STAR
12.5.2 EMERGING LEADER
12.5.3 PERVASIVE
12.5.4 PARTICIPANT
FIGURE 49 ULTRASONIC TESTING MARKET: COMPANY EVALUATION QUADRANT, 2020
12.6 STARTUP/SME EVALUATION MATRIX
TABLE 134 LIST OF STARTUPS IN ULTRASONIC TESTING MARKET
12.6.1 PROGRESSIVE COMPANIES
12.6.2 RESPONSIVE COMPANIES
12.6.3 DYNAMIC COMPANIES
12.6.4 STARTING BLOCKS
FIGURE 50 ULTRASONIC TESTING MARKET: STARTUP/SME EVALUATION MATRIX, 2020
12.7 COMPANY FOOTPRINT
TABLE 135 COMPANY FOOTPRINT
TABLE 136 EQUIPMENT TYPE FOOTPRINT OF COMPANIES
TABLE 137 VERTICAL FOOTPRINT OF COMPANIES
TABLE 138 REGIONAL FOOTPRINT OF COMPANIES
12.8 COMPETITIVE SITUATION & TRENDS
FIGURE 51 STRATEGIES ADOPTED BY KEY PLAYERS FROM
JANUARY 2018 TO NOVEMBER 2020
12.8.1 PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 139 ULTRASONIC TESTING MARKET: PRODUCT LAUNCHES, JANUARY 2017– DECEMBER 2020
12.8.2 DEALS
TABLE 140 ULTRASONIC TESTING MARKET: DEALS, JANUARY 2017–NOVEMBER 2020
12.8.3 OTHERS
TABLE 141 ULTRASONIC TESTING MARKET: OTHERS, JANUARY 2017–DECEMBER 2020
13 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, COVID-19-related Development, and MnM View
(Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 KEY PLAYERS
13.1.1 MISTRAS GROUP
TABLE 142 MISTRAS GROUP: BUSINESS OVERVIEW
FIGURE 52 MISTRAS GROUP: COMPANY SNAPSHOT
13.1.2 OLYMPUS CORPORATION
TABLE 143 OLYMPUS CORPORATION: BUSINESS OVERVIEW
FIGURE 53 OLYMPUS CORPORATION: COMPANY SNAPSHOT
13.1.3 BAKER HUGHES (A SUBSIDIARY OF GE COMPANY)
TABLE 144 BAKER HUGHES: BUSINESS OVERVIEW
FIGURE 54 BAKER HUGHES: COMPANY SNAPSHOT
13.1.4 INTERTEK
TABLE 145 INTERTEK: BUSINESS OVERVIEW
13.1.5 SONATEST LTD
TABLE 146 SONATEST LTD: BUSINESS OVERVIEW
13.1.6 AMERAPEX CORPORATION
TABLE 147 AMERAPEX CORPORATION: BUSINESS OVERVIEW
13.1.7 SONOTRON NDT
TABLE 148 SONOTRON NDT: BUSINESS OVERVIEW
13.1.8 TECSCAN SYSTEMS INC
TABLE 149 TECSCAN SYSTEMS INC: BUSINESS OVERVIEW
13.1.9 ASHTEAD TECHNOLOGY
TABLE 150 ASHTEAD TECHNOLOGY: BUSINESS OVERVIEW
13.1.10 NDT SYSTEMS INC
TABLE 151 TABLE: NDT SYSTEMS INC: BUSINESS OVERVIEW
13.1.11 EDDYFI
TABLE 152 EDDYFI: BUSINESS OVERVIEW
13.1.12 APPLIED TECHNICAL SERVICES INC
TABLE 153 APPLIED TECHNICAL SERVICES INC: BUSINESS OVERVIEW
13.2 OTHER KEY PLAYERS
13.2.1 NDT GLOBAL GMBH LTD & CO.KG
13.2.2 TD WILLIAMSON INC
13.2.3 LABQUIP NDT LIMITED
13.2.4 IPROMAR PTE LIMITED
13.2.5 FPRIMEC SOLUTIONS INC
13.2.6 CYGNUS INSTRUMENTS LTD
13.2.7 ACUREN INSPECTION INC
13.2.8 DEKRA
13.2.9 ELEMENT MATERIALS TECHNOLOGY
13.2.10 FISCHER TECHNOLOGY INC
13.2.11 LYNX INSPECTION
13.2.12 CARESTREAM
13.2.13 ZETEC INC
*Details on Business Overview, Products Offered, Recent Developments, COVID-19-related Development, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS OF INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 AVAILABLE CUSTOMIZATIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 ULTRASONIC TESTING MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size using bottom-up approach (demand side)
FIGURE 3 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
(SUPPLY SIDE)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for arriving at market size by top-down analysis
(supply side)
FIGURE 5 TOP-DOWN APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
(DEMAND SIDE)
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
TABLE 1 ULTRASONIC TESTING MARKET, 2017-2026 (THOUSAND UNITS)
FIGURE 8 ULTRASONIC TESTING MARKET SIZE, 2017–2026 (USD MILLION)
TABLE 2 PRE- AND POST-COVID-19 IMPACT ANALYSIS FOR ULTRASONIC TESTING MARKET, 2017–2025 (USD MILLION)
FIGURE 9 PHASED ARRAY TECHNIQUE IS EXPECTED TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
FIGURE 10 ULTRASONIC TESTING MARKET, BY SERVICE (2021 VS. 2026)
FIGURE 11 POWER GENERATION VERTICAL TO EXHIBIT HIGHEST GROWTH BETWEEN 2021 AND 2026
FIGURE 12 NORTH AMERICA HELD LARGEST SHARE OF ULTRASONIC TESTING MARKET IN 2020
4 PREMIUM INSIGHTS
4.1 LUCRATIVE OPPORTUNITIES IN ULTRASONIC TESTING MARKET
FIGURE 13 POWER GENERATION SECTOR TO DRIVE ULTRASONIC TESTING MARKET FROM 2021 TO 2026
4.2 ULTRASONIC TESTING MARKET, BY SERVICE
FIGURE 14 INSPECTION SERVICES TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
4.3 ULTRASONIC TESTING MARKET, BY EQUIPMENT AND REGION
FIGURE 15 FLAW DETECTORS AND NORTH AMERICA HELD LARGEST SHARE OF ULTRASONIC TESTING EQUIPMENT MARKET IN 2020
4.4 ULTRASONIC TESTING MARKET, BY TYPE
FIGURE 16 PHASED ARRAY METHOD TO GROW AT HIGHEST RATE IN ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
4.5 ULTRASONIC TESTING MARKET, BY REGION
FIGURE 17 ULTRASONIC TESTING MARKET IN APAC TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
4.6 MARKET GROWTH RATE OF MAJOR COUNTRIES, 2021–2026
FIGURE 18 MEXICAN ULTRASONIC TESTING MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 ULTRASONIC TESTING MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Development of portable phased array ultrasonic testing equipment
5.2.1.2 Need for reliable non-destructive testing technique for fiberglass and carbon fiber composites in manufacturing
5.2.1.3 Growth in ultrasonic testing market services
5.2.1.4 Government mandates regarding employee safety and stringent quality control requirements
5.2.1.5 Maintenance needs of aging infrastructure
5.2.2 RESTRAINTS
5.2.2.1 Limitations of manual ultrasonic testing in detecting early stages of damage
5.2.2.2 High cost of automated ultrasonic testing equipment
5.2.3 OPPORTUNITIES
5.2.3.1 Growing infrastructure development in emerging economies
5.2.3.2 Opportunities in power generation sector
5.2.4 CHALLENGES
5.2.4.1 Decreasing oil and gas prices
5.2.4.2 Lack of skilled technicians
5.3 AVERAGE SELLING PRICE ANALYSIS
FIGURE 20 AVERAGE SELLING PRICE OF ULTRASONIC TESTING EQUIPMENT
FIGURE 21 AVERAGE SELLING PRICE, BY NDT TECHNOLOGY
5.4 LEADING ASSOCIATIONS, REGULATIONS, AND STANDARDS
5.4.1 THE AMERICAN SOCIETY FOR NON-DESTRUCTIVE TESTING
5.4.2 THE BRITISH INSTITUTE OF NON-DESTRUCTIVE TESTING
5.4.3 ASTM INTERNATIONAL
5.5 TARIFFS
TABLE 3 MFN TARIFFS FOR PARTS AND ACCESSORIES OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES EXPORTED BY US
TABLE 4 MFN TARIFFS ON PARTS AND ACCESSORIES OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES IMPORTED FROM CHINA
5.5.1 NEGATIVE IMPACT OF TARIFFS ON ULTRASONIC TESTING MARKET
5.5.2 POSITIVE IMPACT OF TARIFFS ON ULTRASONIC TESTING MARKET
5.6 CASE STUDIES
5.6.1 EVALUATION OF CRACKS IN PETROLEUM PIPELINE
5.6.2 IMAGE DATA PROCESSING IN AUTOMATED ULTRASONIC TESTING
5.7 PORTER’S FIVE FORCES ANALYSIS
TABLE 5 ULTRASONIC TESTING MARKET: PORTER’S FIVE FORCES ANALYSIS (2020)
5.7.1 THREAT OF NEW ENTRANTS
5.7.2 THREAT OF SUBSTITUTES
5.7.3 BARGAINING POWER OF SUPPLIERS
5.7.4 BARGAINING POWER OF BUYERS
5.7.5 INTENSITY OF COMPETITIVE RIVALRY
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 22 VALUE CHAIN ANALYSIS: ULTRASONIC TESTING MARKET – MAJOR VALUE IS ADDED DURING MANUFACTURING AND ASSEMBLY PHASES
6.2.1 CORE INDUSTRY SEGMENTS
6.2.1.1 Raw material providers
6.2.1.2 Component manufacturers
6.2.1.3 Assemblers
6.2.1.4 Sales and distribution and equipment services
6.2.1.5 End-use applications
6.3 KEY INDUSTRY TRENDS IN ULTRASONIC TESTING MARKET
6.4 PATENT ANALYSIS
TABLE 6 IMPORTANT INNOVATIONS AND PATENTS REGISTRATION
6.5 ECOSYSTEM/MARKET MAP
FIGURE 23 ULTRASONIC TESTING MARKET ECOSYSTEM
TABLE 7 ECOSYSTEM OF ULTRASONIC TESTING MARKET
6.6 TRADE ANALYSIS
6.6.1 IMPORT SCENARIO
FIGURE 24 IMPORT DATA OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES FOR TOP 5 COUNTRIES, 2016–2020 (THOUSAND UNITS)
6.6.2 EXPORTS SCENARIO
FIGURE 25 EXPORT DATA OF APPLIANCES USED FOR TESTING MECHANICAL PROPERTIES, 2016–2020 (THOUSAND UNITS)
6.7 TECHNOLOGY ANALYSIS
6.7.1 KEY TECHNOLOGIES
6.7.1.1 Electromagnetic acoustic transducer (EMAT) technique
6.7.1.2 Long-range ultrasonic technique (LRUT)
6.7.2 COMPLEMENTARY TECHNOLOGIES
6.7.2.1 Dynamic thermography
6.7.2.2 Air-coupled ultrasound
6.7.3 ADJACENT TECHNOLOGIES
6.7.3.1 Positive metal identification technique
6.7.3.2 Dynamic interferometry
7 ULTRASONIC TESTING MARKET, BY TYPE
7.1 INTRODUCTION
FIGURE 26 ULTRASONIC TESTING MARKET, BY TYPE
TABLE 8 ULTRASONIC TESTING MARKET, BY TYPE, 2017–2020 (USD MILLION)
TABLE 9 ULTRASONIC TESTING MARKET, BY TYPE, 2021–2026 (USD MILLION)
FIGURE 27 PHASED ARRAY IS EXPECTED TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
7.2 PHASED ARRAY
7.2.1 FASTER ADOPTION RATE DUE TO HIGHER ACCURACY AND MINIMAL TIME CONSUMPTION IN INSPECTION AND DEFECT DETECTION
7.3 TIME-OF-FLIGHT DIFFRACTION
7.3.1 HIGH PRECISION WITH MINIMAL FAILURE RISK IS DRIVING TOFD SEGMENT
7.4 IMMERSION TESTING
7.4.1 CAPABILITY OF DETECTING SMALL DEFECTS IS DRIVING ADOPTION OF IMMERSION TESTING IN INDUSTRIAL AND MANUFACTURING SECTORS
7.5 GUIDED WAVE TESTING
7.5.1 HIGH ADOPTION RATE DUE TO LONG RANGE INSPECTION AND MONITORING CAPABILITIES
7.6 ACOUSTOGRAPHY
7.6.1 ULTRASONIC AREA INSPECTION TECHNIQUE IS ADOPTED FOR SINGLE-SIDE INSPECTION FOR IMAGING PROCESS
7.7 OTHERS
8 ULTRASONIC TESTING MARKET, BY EQUIPMENT
8.1 INTRODUCTION
FIGURE 28 ULTRASONIC TESTING MARKET, BY EQUIPMENT
TABLE 10 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 11 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 12 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2017–2020 (USD MILLION)
TABLE 13 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2021–2026 (USD MILLION)
FIGURE 29 FLAW DETECTORS TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
8.2 FLAW DETECTORS
8.2.1 UNIQUE IDENTIFICATION CAPABILITIES OF DISCONTINUITIES HAS INCREASED ADOPTION RATE OF FLAW DETECTORS IN DIVERSE VERTICALS
TABLE 14 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 15 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 16 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY REGION, 2017–2020 (USD MILLION)
TABLE 17 ULTRASONIC TESTING MARKET FOR FLAW DETECTORS, BY REGION, 2021–2026 (USD MILLION)
FIGURE 30 ULTRASONIC FLAW DETECTORS MARKET EXPECTED TO GROW AT HIGHEST CAGR IN APAC BETWEEN 2021 AND 2026
8.3 THICKNESS GAUGES
8.3.1 MEASUREMENT PRECISION DRIVES ADOPTION OF THICKNESS GAUGES IN OIL & GAS AND POWER GENERATION VERTICALS
TABLE 18 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 19 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 20 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY REGION, 2017–2020 (USD MILLION)
TABLE 21 ULTRASONIC TESTING MARKET FOR THICKNESS GAUGES, BY REGION, 2021–2026 (USD MILLION)
8.4 TRANSDUCERS AND PROBES
8.4.1 CRITICAL INSPECTION CAPABILITIES ARE DRIVING ADOPTION OF TRANSDUCERS AND PROBES
TABLE 22 ULTRASONIC TESTING MARKET FOR TRANSDUCERS AND PROBES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 23 ULTRASONIC TESTING MARKET FOR TRANSDUCERS AND PROBES, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 31 POWER GENERATION EXPECTED TO DOMINATE ULTRASONIC TRANSDUCERS AND PROBES MARKET DURING FORECAST PERIOD
TABLE 24 ULTRASONIC TESTING MARKET SIZE FOR TRANSDUCERS AND PROBES, BY REGION, 2017–2020 (USD MILLION)
TABLE 25 ULTRASONIC TESTING MARKET SIZE FOR TRANSDUCERS AND PROBES, BY REGION, 2021–2026 (USD MILLION)
8.5 INDUSTRIAL SCANNERS
8.5.1 LOW COST AND IMPROVED QUALITY AND PRECISION IN SCANNING RESULTS HAS INCREASED ADOPTION OF INDUSTRIAL SCANNERS
TABLE 26 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 27 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 28 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY REGION, 2017–2020 (USD MILLION)
TABLE 29 ULTRASONIC TESTING MARKET SIZE FOR INDUSTRIAL SCANNERS, BY REGION, 2021–2026 (USD MILLION)
8.6 TUBE INSPECTION SYSTEMS
8.6.1 LARGE-SCALE ADOPTION IN POWER GENERATION VERTICAL DUE TO HIGH-PRECISION DETECTION OF DAMAGES SUCH AS CORROSION AND CRACKS
TABLE 30 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 31 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 32 NORTH AMERICA TO DOMINATE ULTRASONIC MARKET FOR TUBE INSPECTION SYSTEMS DURING FORECAST PERIOD
TABLE 32 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
TABLE 33 ULTRASONIC TESTING MARKET FOR TUBE INSPECTION SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
8.7 BOND TESTERS
8.7.1 BOND TESTERS ARE BEING HIGHLY ADOPTED IN OIL & GAS AND AEROSPACE VERTICALS
TABLE 34 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 35 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 36 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY REGION, 2017–2020 (USD MILLION)
TABLE 37 ULTRASONIC TESTING MARKET FOR BOND TESTERS, BY REGION, 2021–2026 (USD MILLION)
8.8 IMAGING SYSTEMS
8.8.1 INCREASING ADOPTION RATE DUE TO QUALITY CONTROL AND PRECISE FLAW DETECTION CAPABILITIES
TABLE 38 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 39 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 40 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
TABLE 41 ULTRASONIC TESTING MARKET FOR IMAGING SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
8.9 OTHERS
TABLE 42 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 43 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 44 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY REGION, 2017–2020 (USD MILLION)
TABLE 45 ULTRASONIC TESTING MARKET FOR OTHER EQUIPMENT, BY REGION, 2021–2026 (USD MILLION)
9 ULTRASONIC TESTING MARKET, BY SERVICE
9.1 INTRODUCTION
FIGURE 33 ULTRASONIC TESTING MARKET, BY SERVICE
TABLE 46 ULTRASONIC TESTING MARKET, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 47 ULTRASONIC TESTING MARKET, BY SERVICE, 2021–2026 (USD MILLION)
FIGURE 34 INSPECTION SERVICES TO DOMINATE ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
9.2 INSPECTION SERVICES
9.2.1 HIGH ADOPTION RATE DUE TO BETTER ACCURACY AND EFFICIENCY, FASTER INSPECTION, AND LOW COST
TABLE 48 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 49 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 35 POWER GENERATION IS EXPECTED TO DOMINATE ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES DURING FORECAST PERIOD
TABLE 50 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 51 ULTRASONIC TESTING MARKET FOR INSPECTION SERVICES, BY REGION, 2021–2026 (USD MILLION)
9.3 EQUIPMENT RENTAL SERVICES
9.3.1 LOW COST AND APPROPRIATE AVAILABILITY AS PER NEED ARE DRIVING DEMAND FOR EQUIPMENT RENTAL SERVICES
TABLE 52 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 53 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 54 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 55 ULTRASONIC TESTING MARKET FOR EQUIPMENT RENTAL SERVICES, BY REGION, 2021–2026 (USD MILLION)
9.4 CALIBRATION SERVICES
9.4.1 INCREASING ADOPTION DUE TO ACCURACY IN MEASUREMENT BY REDUCING UNCERTAINTIES IN TESTING EQUIPMENT
TABLE 56 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 57 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 58 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 59 ULTRASONIC TESTING MARKET FOR CALIBRATION SERVICES, BY REGION, 2021–2026 (USD MILLION)
9.5 TRAINING SERVICES
9.5.1 GROWING DEMAND FOR ULTRASONIC TESTING EQUIPMENT AND SERVICES IS DRIVING NEED FOR TRAINING SERVICES IN APAC AND NORTH AMERICAN REGIONS
TABLE 60 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 61 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 62 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 63 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES, BY REGION, 2021–2026 (USD MILLION)
FIGURE 36 ULTRASONIC TESTING MARKET FOR TRAINING SERVICES EXPECTED TO GROW AT HIGHEST RATE IN APAC DURING FORECAST PERIOD
10 ULTRASONIC TESTING MARKET, BY VERTICAL
10.1 INTRODUCTION
FIGURE 37 ULTRASONIC TESTING MARKET, BY VERTICAL
TABLE 64 ULTRASONIC TESTING MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 65 ULTRASONIC TESTING MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 38 POWER GENERATION EXPECTED TO GROW AT HIGHEST RATE AND DOMINATE ULTRASONIC TESTING MARKET BY 2026
TABLE 66 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 67 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 68 ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 69 ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL, 2021–2026 (USD MILLION)
10.2 MANUFACTURING
10.2.1 INCREASE IN ADOPTION RATE DUE TO NEED FOR MONITORING, INSPECTION, AND QUALITY CONTROL OF MATERIALS
TABLE 70 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 71 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 72 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 73 ULTRASONIC TESTING MARKET FOR MANUFACTURING VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.3 OIL & GAS
10.3.1 NEED FOR PRECISION, RELIABILITY, SAFETY, AND IMPROVED UTILIZATION OF MATERIALS LED TO HIGH ADOPTION RATE IN OIL & GAS VERTICAL
10.3.2 REFINING
10.3.3 SUBSEA PIPELINES
10.3.4 STORAGE TANKS
TABLE 74 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY EQUIPMENT, 2017–2026 (USD MILLION)
TABLE 75 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
FIGURE 39 ULTRASONIC FLAW DETECTORS TO HOLD LARGEST SIZE IN OIL & GAS VERTICAL DURING FORECAST PERIOD
TABLE 76 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 77 ULTRASONIC TESTING MARKET FOR OIL & GAS VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.4 AEROSPACE
10.4.1 NEED FOR HIGH PRECISION, INCREASED SAFETY, AND QUALITY ASSURANCE AUGMENT ADOPTION OF ULTRASONIC TESTING EQUIPMENT IN AEROSPACE VERTICAL
10.4.2 AIRCRAFT ENGINE PART PRODUCTION TO BE KEY APPLICATION AREA OF ULTRASONIC TESTING
10.4.3 AIRPLANE MAINTENANCE APPLICATIONS
TABLE 78 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 79 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 80 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 81 ULTRASONIC TESTING MARKET FOR AEROSPACE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.5 GOVERNMENT INFRASTRUCTURE
10.5.1 RISING DEMAND FOR INFRASTRUCTURE DEVELOPMENT HAS LED TO INCREASE IN ADOPTION OF ULTRASONIC TESTING EQUIPMENT AND SERVICES
10.5.2 MILITARY & DEFENSE
10.5.3 RAILWAYS INDUSTRY
10.5.4 BRIDGES AND TUNNELS
TABLE 82 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 83 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 84 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 85 ULTRASONIC TESTING MARKET FOR GOVERNMENT INFRASTRUCTURE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.6 AUTOMOTIVE
10.6.1 ULTRASONIC TESTING EQUIPMENT DETECT FLAWS AND CORROSION IN LARGE AUTOMOTIVE COMPONENTS
TABLE 86 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 87 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 88 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 89 ULTRASONIC TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.7 POWER GENERATION
10.7.1 RISING DEMAND FOR ENERGY HAS LED TO INCREASED USE OF ULTRASONIC TESTING EQUIPMENT AND SERVICES IN POWER PLANTS
10.7.2 NUCLEAR POWER DRIVES GROWTH OF ULTRASONIC TESTING IN POWER GENERATION
10.7.3 RENEWABLE ENERGY
10.7.4 FOSSIL FUEL ENERGY
TABLE 90 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 91 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 92 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY SERVICE 2017–2020 (USD MILLION)
TABLE 93 ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL, BY SERVICE 2021–2026 (USD MILLION)
FIGURE 40 INSPECTION SERVICES TO HOLD LARGEST SIZE IN ULTRASONIC TESTING MARKET FOR POWER GENERATION VERTICAL DURING FORECAST PERIOD
10.8 MARINE
10.8.1 ULTRASONIC INSPECTION SERVICES ARE USED IN MARINE SECTOR TO ENSURE INTEGRITY OF SHIPS AND THEIR COMPONENTS
TABLE 94 ULTRASONIC TESTING MARKET FOR MARINE VERTICAL, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 95 ULTRASONIC TESTING MARKET FOR MARINE VERTICAL, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 96 ULTRASONIC TESTING MARKET SIZE FOR MARINE VERTICAL, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 97 ULTRASONIC TESTING MARKET SIZE FOR MARINE VERTICAL, BY SERVICE, 2021–2026 (USD MILLION)
10.9 OTHERS
10.9.1 HEALTHCARE
10.9.2 PLASTICS AND POLYMERS
TABLE 98 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 99 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 100 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 101 ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY SERVICE, 2021–2026 (USD MILLION)
11 GEOGRAPHIC ANALYSIS
11.1 INTRODUCTION
FIGURE 41 ULTRASONIC TESTING MARKET, BY COUNTRY
TABLE 102 ULTRASONIC TESTING MARKET, BY REGION, 2017–2020 (USD MILLION)
TABLE 103 ULTRASONIC TESTING MARKET, BY REGION, 2021–2026 (USD MILLION)
TABLE 104 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2017–2020 (USD MILLION)
TABLE 105 ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY REGION, 2021–2026 (USD MILLION)
TABLE 106 ULTRASONIC TESTING MARKET FOR SERVICES, BY REGION, 2017–2020 (USD MILLION)
TABLE 107 ULTRASONIC TESTING MARKET FOR SERVICES, BY REGION, 2021–2026 (USD MILLION)
11.2 NORTH AMERICA
11.2.1 DEMAND FROM GOVERNMENT INFRASTRUCTURE AND MANUFACTURING VERTICALS DRIVES ULTRASONIC TESTING EQUIPMENT AND SERVICES MARKET
FIGURE 42 SNAPSHOT OF ULTRASONIC TESTING MARKET IN NORTH AMERICA
TABLE 108 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 109 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 110 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 111 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 112 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 113 ULTRASONIC TESTING MARKET IN NORTH AMERICA, BY SERVICE, 2021–2026 (USD MILLION)
FIGURE 43 INSPECTION SERVICES TO DOMINATE NORTH AMERICAN ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
11.2.2 US
11.2.2.1 US to hold largest share of ultrasonic testing market in
North America by 2026
11.2.3 CANADA
11.2.3.1 Growing demand for advanced materials testing to drive ultrasonic testing market in Canada
11.2.4 MEXICO
11.2.4.1 Mexican ultrasonic testing market to grow at highest CAGR in
North America during forecast period
11.3 EUROPE
11.3.1 RAPID INFRASTRUCTURAL DEVELOPMENT TO DRIVE ULTRASONIC EQUIPMENT AND SERVICES MARKET IN EUROPE
FIGURE 44 SNAPSHOT OF ULTRASONIC TESTING MARKET IN EUROPE
TABLE 114 ULTRASONIC TESTING MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 115 ULTRASONIC TESTING MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 116 ULTRASONIC TESTING MARKET IN EUROPE, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 117 ULTRASONIC TESTING MARKET IN EUROPE, BY EQUIPMENT, 2021–2026 (USD MILLION)
FIGURE 45 TUBE INSPECTION SYSTEMS TO GROW AT HIGHEST RATE IN EUROPEAN ULTRASONIC TESTING MARKET DURING FORECAST PERIOD
TABLE 118 ULTRASONIC TESTING MARKET IN EUROPE, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 119 ULTRASONIC TESTING MARKET IN EUROPE, BY SERVICE, 2021–2026 (USD MILLION)
11.3.2 UK
11.3.2.1 Growing aerospace and power generation sector to drive ultrasonic testing market
11.3.3 GERMANY
11.3.3.1 Growing applications in aerospace & defense vertical to drive of ultrasonic testing market in Germany
11.3.4 FRANCE
11.3.4.1 Growing automobile vertical to drive ultrasonic testing market in France
11.3.5 ITALY
11.3.5.1 Increasing oil refining capabilities of Italy to drive ultrasonic testing market
11.3.6 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 CHINA TO DOMINATE ULTRASONIC TESTING MARKET IN APAC DUE TO INCREASED DEMAND FROM MANUFACTURING AND OIL & GAS VERTICALS
FIGURE 46 SNAPSHOT OF ULTRASONIC TESTING MARKET IN APAC
TABLE 120 ULTRASONIC TESTING MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 121 ULTRASONIC TESTING MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
TABLE 122 ULTRASONIC TESTING MARKET IN APAC, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 123 ULTRASONIC TESTING MARKET IN APAC, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 124 ULTRASONIC TESTING MARKET IN APAC, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 125 ULTRASONIC TESTING MARKET IN APAC, BY SERVICE, 2021–2026 (USD MILLION)
11.4.2 CHINA
11.4.2.1 China accounts for largest share of ultrasonic testing market in APAC
11.4.3 JAPAN
11.4.3.1 Growth in nuclear power generation vertical in Japan to drive ultrasonic testing market
11.4.4 INDIA
11.4.4.1 Growth in domestic manufacturing industry to encourage demand for ultrasonic testing equipment and inspection services
11.4.5 REST OF APAC
11.5 REST OF THE WORLD
FIGURE 47 ROW: ULTRASONIC TESTING MARKET, 2021 VS. 2026
TABLE 126 ULTRASONIC TESTING MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)
TABLE 127 ULTRASONIC TESTING MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)
TABLE 128 ULTRASONIC TESTING MARKET IN ROW, BY EQUIPMENT, 2017–2020 (USD MILLION)
TABLE 129 ULTRASONIC TESTING MARKET IN ROW, BY EQUIPMENT, 2021–2026 (USD MILLION)
TABLE 130 ULTRASONIC TESTING MARKET IN ROW, BY SERVICE, 2017–2020 (USD MILLION)
TABLE 131 ULTRASONIC TESTING MARKET IN ROW, BY SERVICE, 2021–2026 (USD MILLION)
11.5.1 SOUTH AMERICA
11.5.1.1 Oil & gas and power generation industries to drive demand for ultrasonic testing equipment and services in South America
11.5.2 MIDDLE EAST
11.5.2.1 Growing investments in infrastructure and oil & gas sectors to drive ultrasonic testing market in Middle East
11.5.3 AFRICA
11.5.3.1 Growth in marine vertical to drive African ultrasonic testing market
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 MARKET EVALUATION FRAMEWORK
TABLE 132 OVERVIEW OF STRATEGIES DEPLOYED BY PLAYERS IN
ULTRASONIC TESTING MARKET
12.2.1 PRODUCT PORTFOLIO
12.2.2 REGIONAL FOCUS
12.2.3 MANUFACTURING FOOTPRINT
12.2.4 ORGANIC/INORGANIC PLAY
12.3 MARKET SHARE ANALYSIS, 2020
TABLE 133 ULTRASONIC TESTING MARKET: MARKET SHARE ANALYSIS, 2020
12.4 REVENUE ANALYSIS OF TOP 4 PLAYERS IN ULTRASONIC TESTING MARKET
FIGURE 48 FIVE-YEAR REVENUE ANALYSIS OF TOP FOUR PLAYERS IN ULTRASONIC TESTING MARKET
12.5 COMPANY EVALUATION QUADRANT
12.5.1 STAR
12.5.2 EMERGING LEADER
12.5.3 PERVASIVE
12.5.4 PARTICIPANT
FIGURE 49 ULTRASONIC TESTING MARKET: COMPANY EVALUATION QUADRANT, 2020
12.6 STARTUP/SME EVALUATION MATRIX
TABLE 134 LIST OF STARTUPS IN ULTRASONIC TESTING MARKET
12.6.1 PROGRESSIVE COMPANIES
12.6.2 RESPONSIVE COMPANIES
12.6.3 DYNAMIC COMPANIES
12.6.4 STARTING BLOCKS
FIGURE 50 ULTRASONIC TESTING MARKET: STARTUP/SME EVALUATION MATRIX, 2020
12.7 COMPANY FOOTPRINT
TABLE 135 COMPANY FOOTPRINT
TABLE 136 EQUIPMENT TYPE FOOTPRINT OF COMPANIES
TABLE 137 VERTICAL FOOTPRINT OF COMPANIES
TABLE 138 REGIONAL FOOTPRINT OF COMPANIES
12.8 COMPETITIVE SITUATION & TRENDS
FIGURE 51 STRATEGIES ADOPTED BY KEY PLAYERS FROM
JANUARY 2018 TO NOVEMBER 2020
12.8.1 PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 139 ULTRASONIC TESTING MARKET: PRODUCT LAUNCHES, JANUARY 2017– DECEMBER 2020
12.8.2 DEALS
TABLE 140 ULTRASONIC TESTING MARKET: DEALS, JANUARY 2017–NOVEMBER 2020
12.8.3 OTHERS
TABLE 141 ULTRASONIC TESTING MARKET: OTHERS, JANUARY 2017–DECEMBER 2020
13 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, COVID-19-related Development, and MnM View
(Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 KEY PLAYERS
13.1.1 MISTRAS GROUP
TABLE 142 MISTRAS GROUP: BUSINESS OVERVIEW
FIGURE 52 MISTRAS GROUP: COMPANY SNAPSHOT
13.1.2 OLYMPUS CORPORATION
TABLE 143 OLYMPUS CORPORATION: BUSINESS OVERVIEW
FIGURE 53 OLYMPUS CORPORATION: COMPANY SNAPSHOT
13.1.3 BAKER HUGHES (A SUBSIDIARY OF GE COMPANY)
TABLE 144 BAKER HUGHES: BUSINESS OVERVIEW
FIGURE 54 BAKER HUGHES: COMPANY SNAPSHOT
13.1.4 INTERTEK
TABLE 145 INTERTEK: BUSINESS OVERVIEW
13.1.5 SONATEST LTD
TABLE 146 SONATEST LTD: BUSINESS OVERVIEW
13.1.6 AMERAPEX CORPORATION
TABLE 147 AMERAPEX CORPORATION: BUSINESS OVERVIEW
13.1.7 SONOTRON NDT
TABLE 148 SONOTRON NDT: BUSINESS OVERVIEW
13.1.8 TECSCAN SYSTEMS INC
TABLE 149 TECSCAN SYSTEMS INC: BUSINESS OVERVIEW
13.1.9 ASHTEAD TECHNOLOGY
TABLE 150 ASHTEAD TECHNOLOGY: BUSINESS OVERVIEW
13.1.10 NDT SYSTEMS INC
TABLE 151 TABLE: NDT SYSTEMS INC: BUSINESS OVERVIEW
13.1.11 EDDYFI
TABLE 152 EDDYFI: BUSINESS OVERVIEW
13.1.12 APPLIED TECHNICAL SERVICES INC
TABLE 153 APPLIED TECHNICAL SERVICES INC: BUSINESS OVERVIEW
13.2 OTHER KEY PLAYERS
13.2.1 NDT GLOBAL GMBH LTD & CO.KG
13.2.2 TD WILLIAMSON INC
13.2.3 LABQUIP NDT LIMITED
13.2.4 IPROMAR PTE LIMITED
13.2.5 FPRIMEC SOLUTIONS INC
13.2.6 CYGNUS INSTRUMENTS LTD
13.2.7 ACUREN INSPECTION INC
13.2.8 DEKRA
13.2.9 ELEMENT MATERIALS TECHNOLOGY
13.2.10 FISCHER TECHNOLOGY INC
13.2.11 LYNX INSPECTION
13.2.12 CARESTREAM
13.2.13 ZETEC INC
*Details on Business Overview, Products Offered, Recent Developments, COVID-19-related Development, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS OF INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 AVAILABLE CUSTOMIZATIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
