Acoustic Emission Testing Market by Equipment (Sensors, Amplifiers, Detection Instruments), Service (Inspection, Calibration), Application (Storage Tank, Pipeline, Aging Aircraft, Structural Monitoring, Turbine), and Geography - Global Forecast to 2023
Acoustic emission testing market to grow at a CAGR of 7.32% during forecast period
The acoustic emission testing market is expected to be worth USD 349.9 million by 2023, from USD 245.8 million in 2018, at a CAGR of 7.32% between 2018 and 2023. Growing safety concerns to enhance productivity, increasing need for asset health monitoring, and the government initiatives for the implementation of NDT solutions are driving this market growth. AET is used to assess asset integrity, performance, and productivity by identifying the various possible damages. The key restraining factors for the growth of this market are high system cost and lack of skilled workforce.
Sensors to hold largest share of acoustic emission testing market during forecast period
The sensors segment is expected to hold the largest share of this market during the forecast period. AE sensors convert the surface movement of elastic waves into an electrical signal, which is further processed by the measurement equipment. The growth of the acoustic emission testing market for sensors can be attributed to the information provided by sensors related to physical aspects, which is necessary to monitor the behavior of structures or equipment.
Storage tank application to hold largest share of acoustic emission testing market during forecast period
The storage tank application is expected to hold the largest share of the acoustic emission testing market during the forecast period. The growth of the acoustic emission testing market for storage tanks can be attributed to the real-time monitoring solution provided by AET for detecting flaws in tanks without halting the operation and evacuating the product. In storage tanks, AET detects flaws or leakages at an early stage and thus helps in reducing the subsequent environmental damage.
Acoustic emission testing market in APAC to grow at highest CAGR between 2018 and 2023
The acoustic emission testing market in APAC is expected to grow at the highest CAGR during 2018–2023. The growth of the AET market in APAC can be attributed to infrastructural developments and manufacturing of defense aircraft. Improvements in terms of economic growth, infrastructural developments, and the construction of power plants boost the acoustic emission testing market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with experts in the market. The breakup of the profiles of primary participants for the report has been shown below:
Research Coverage
This report categorizes the overall acoustic emission testing market on the basis of equipment, services, applications, and regions. Moreover, the report provides the value chain analysis of the acoustic emission testing market. The report also describes the major drivers, restraints, challenges, and opportunities pertaining to the market.
Key Benefits of Buying the Report
The report would help the leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall acoustic emission testing market and subsegments. This report would help stakeholders understand the competitive landscape better, gain more insights to position their businesses better in the market, and make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
The acoustic emission testing market is expected to be worth USD 349.9 million by 2023, from USD 245.8 million in 2018, at a CAGR of 7.32% between 2018 and 2023. Growing safety concerns to enhance productivity, increasing need for asset health monitoring, and the government initiatives for the implementation of NDT solutions are driving this market growth. AET is used to assess asset integrity, performance, and productivity by identifying the various possible damages. The key restraining factors for the growth of this market are high system cost and lack of skilled workforce.
Sensors to hold largest share of acoustic emission testing market during forecast period
The sensors segment is expected to hold the largest share of this market during the forecast period. AE sensors convert the surface movement of elastic waves into an electrical signal, which is further processed by the measurement equipment. The growth of the acoustic emission testing market for sensors can be attributed to the information provided by sensors related to physical aspects, which is necessary to monitor the behavior of structures or equipment.
Storage tank application to hold largest share of acoustic emission testing market during forecast period
The storage tank application is expected to hold the largest share of the acoustic emission testing market during the forecast period. The growth of the acoustic emission testing market for storage tanks can be attributed to the real-time monitoring solution provided by AET for detecting flaws in tanks without halting the operation and evacuating the product. In storage tanks, AET detects flaws or leakages at an early stage and thus helps in reducing the subsequent environmental damage.
Acoustic emission testing market in APAC to grow at highest CAGR between 2018 and 2023
The acoustic emission testing market in APAC is expected to grow at the highest CAGR during 2018–2023. The growth of the AET market in APAC can be attributed to infrastructural developments and manufacturing of defense aircraft. Improvements in terms of economic growth, infrastructural developments, and the construction of power plants boost the acoustic emission testing market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with experts in the market. The breakup of the profiles of primary participants for the report has been shown below:
- By Company Type: Tier 1 = 20 %, Tier 2 = 55%, and Tier 3 = 25%
- By Designation: C-Level Executives =50%, Directors = 25%, and Managers = 25%
- By Region: North America = 60%, Europe =20%, APAC = 10%, and RoW=10%
Research Coverage
This report categorizes the overall acoustic emission testing market on the basis of equipment, services, applications, and regions. Moreover, the report provides the value chain analysis of the acoustic emission testing market. The report also describes the major drivers, restraints, challenges, and opportunities pertaining to the market.
Key Benefits of Buying the Report
The report would help the leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall acoustic emission testing market and subsegments. This report would help stakeholders understand the competitive landscape better, gain more insights to position their businesses better in the market, and make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 SCOPE OF THE STUDY
1.3.1 MARKETS COVERED
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED FOR STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 MARKET STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Major secondary sources
2.1.1.2 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primaries
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for capturing market share by bottom-up analysis
(demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing market share by top-down analysis
(supply side)
2.3 MARKET RANKING ESTIMATION
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN ACOUSTIC EMISSION TESTING MARKET
4.2 ACOUSTIC EMISSION TESTING MARKET, BY EQUIPMENT
4.3 ACOUSTIC EMISSION TESTING MARKET, BY SERVICE AND COUNTRY
4.4 ACOUSTIC EMISSION TESTING MARKET, BY APPLICATION
4.5 COUNTRY-WISE ANALYSIS OF ACOUSTIC EMISSION TESTING MARKET
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing safety concerns to enhance productivity
5.2.1.2 Increasing need for asset health monitoring
5.2.1.3 Government initiatives for implementation of NDT solutions
5.2.2 RESTRAINTS
5.2.2.1 High system cost
5.2.2.2 Lack of skilled workforce
5.2.3 OPPORTUNITIES
5.2.3.1 Advancements in acoustic emission testing
5.2.3.2 Increasing demand for acoustic emission testing in power generation industry
5.2.3.3 Critical need to inspect aging infrastructure
5.2.4 CHALLENGES
5.2.4.1 Fluctuating oil and gas prices
5.3 ACOUSTIC EMISSION TESTING TECHNIQUES
5.3.1 INTRODUCTION
5.3.2 MULTICHANNEL SOURCE LOCATION
5.3.3 COMPUTED SOURCE LOCATION
5.3.4 ZONE LOCATION AND GUARD TECHNIQUES
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.3 EMERGING TRENDS: ACOUSTIC EMISSION TESTING EQUIPMENT INDUSTRY
6.3.1 DEVELOPMENT OF NEW MATERIALS TO REFURBISH THE MARKET
6.3.2 INCREASED CUSTOMER EXPECTATIONS FROM AET EQUIPMENT MANUFACTURERS
6.4 REGULATIONS AND STANDARDS RELATED TO NDT
6.5 LEADING ASSOCIATIONS FOR AET
6.5.1 AMERICAN SOCIETY FOR NONDESTRUCTIVE TESTING (ASNT)
6.5.2 BRITISH INSTITUTE OF NON-DESTRUCTIVE TESTING (BINDT)
7 MARKET ANALYSIS, BY EQUIPMENT
7.1 INTRODUCTION
7.2 SENSORS
7.3 AMPLIFIERS
7.4 DETECTION INSTRUMENTS
7.5 CALIBRATORS
7.6 OTHERS
8 MARKET ANALYSIS, BY SERVICE
8.1 INTRODUCTION
8.2 INSPECTION
8.3 CALIBRATION
9 MARKET ANALYSIS, BY APPLICATION
9.1 INTRODUCTION
9.2 STORAGE TANK
9.3 PIPELINE
9.4 AGING AIRCRAFT
9.5 TURBINE
9.6 STRUCTURAL MONITORING
9.6.1 PRESSURE VESSELS
9.6.2 BRIDGES
9.6.3 CONCRETE BEAMS
9.6.4 OTHERS
9.7 NUCLEAR TANK
9.8 MARINE
9.9 TUBE TRAILER
9.10 ADVANCED MATERIAL
10 MARKET ANALYSIS, BY GEOGRAPHY
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.2 CANADA
10.2.3 MEXICO
10.3 EUROPE
10.3.1 UK
10.3.2 GERMANY
10.3.3 FRANCE
10.3.4 ITALY
10.3.5 AUSTRIA
10.3.6 SWITZERLAND
10.3.7 REST OF EUROPE
10.4 APAC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 MALAYSIA & SINGAPORE
10.4.4 REST OF APAC
10.5 ROW
10.5.1 MIDDLE EAST
10.5.2 AFRICA
10.5.3 SOUTH AMERICA
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 ACOUSTIC EMISSION TESTING MARKET RANKING ANALYSIS
11.3 COMPETITIVE SCENARIO
11.3.1 PARTNERSHIPS, ACQUISITIONS, AND AGREEMENTS
11.3.2 EXPANSIONS AND CONTRACTS
11.3.3 PRODUCT LAUNCHES AND COLLABORATIONS
12 COMPANY PROFILE
(Business overview, Products offered, Recent developments, MNM view, SWOT analysis)*
12.1 TUV RHEINLAND
12.2 TUV AUSTRIA
12.3 TUV NORD
12.4 MISTRAS
12.5 GENERAL ELECTRIC
12.6 PARKER HANNIFIN
12.7 ACOUSTIC EMISSION CONSULTING
12.8 VALLEN SYSTEME
12.9 KRN SERVICES
12.10 SCORE ATLANTA
*Business overview, Products offered, Recent developments, MNM view, SWOT analysis might not be captured in case of unlisted companies.
13 APPENDIX
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 SCOPE OF THE STUDY
1.3.1 MARKETS COVERED
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED FOR STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 MARKET STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Major secondary sources
2.1.1.2 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primaries
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for capturing market share by bottom-up analysis
(demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing market share by top-down analysis
(supply side)
2.3 MARKET RANKING ESTIMATION
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN ACOUSTIC EMISSION TESTING MARKET
4.2 ACOUSTIC EMISSION TESTING MARKET, BY EQUIPMENT
4.3 ACOUSTIC EMISSION TESTING MARKET, BY SERVICE AND COUNTRY
4.4 ACOUSTIC EMISSION TESTING MARKET, BY APPLICATION
4.5 COUNTRY-WISE ANALYSIS OF ACOUSTIC EMISSION TESTING MARKET
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing safety concerns to enhance productivity
5.2.1.2 Increasing need for asset health monitoring
5.2.1.3 Government initiatives for implementation of NDT solutions
5.2.2 RESTRAINTS
5.2.2.1 High system cost
5.2.2.2 Lack of skilled workforce
5.2.3 OPPORTUNITIES
5.2.3.1 Advancements in acoustic emission testing
5.2.3.2 Increasing demand for acoustic emission testing in power generation industry
5.2.3.3 Critical need to inspect aging infrastructure
5.2.4 CHALLENGES
5.2.4.1 Fluctuating oil and gas prices
5.3 ACOUSTIC EMISSION TESTING TECHNIQUES
5.3.1 INTRODUCTION
5.3.2 MULTICHANNEL SOURCE LOCATION
5.3.3 COMPUTED SOURCE LOCATION
5.3.4 ZONE LOCATION AND GUARD TECHNIQUES
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.3 EMERGING TRENDS: ACOUSTIC EMISSION TESTING EQUIPMENT INDUSTRY
6.3.1 DEVELOPMENT OF NEW MATERIALS TO REFURBISH THE MARKET
6.3.2 INCREASED CUSTOMER EXPECTATIONS FROM AET EQUIPMENT MANUFACTURERS
6.4 REGULATIONS AND STANDARDS RELATED TO NDT
6.5 LEADING ASSOCIATIONS FOR AET
6.5.1 AMERICAN SOCIETY FOR NONDESTRUCTIVE TESTING (ASNT)
6.5.2 BRITISH INSTITUTE OF NON-DESTRUCTIVE TESTING (BINDT)
7 MARKET ANALYSIS, BY EQUIPMENT
7.1 INTRODUCTION
7.2 SENSORS
7.3 AMPLIFIERS
7.4 DETECTION INSTRUMENTS
7.5 CALIBRATORS
7.6 OTHERS
8 MARKET ANALYSIS, BY SERVICE
8.1 INTRODUCTION
8.2 INSPECTION
8.3 CALIBRATION
9 MARKET ANALYSIS, BY APPLICATION
9.1 INTRODUCTION
9.2 STORAGE TANK
9.3 PIPELINE
9.4 AGING AIRCRAFT
9.5 TURBINE
9.6 STRUCTURAL MONITORING
9.6.1 PRESSURE VESSELS
9.6.2 BRIDGES
9.6.3 CONCRETE BEAMS
9.6.4 OTHERS
9.7 NUCLEAR TANK
9.8 MARINE
9.9 TUBE TRAILER
9.10 ADVANCED MATERIAL
10 MARKET ANALYSIS, BY GEOGRAPHY
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.2 CANADA
10.2.3 MEXICO
10.3 EUROPE
10.3.1 UK
10.3.2 GERMANY
10.3.3 FRANCE
10.3.4 ITALY
10.3.5 AUSTRIA
10.3.6 SWITZERLAND
10.3.7 REST OF EUROPE
10.4 APAC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 MALAYSIA & SINGAPORE
10.4.4 REST OF APAC
10.5 ROW
10.5.1 MIDDLE EAST
10.5.2 AFRICA
10.5.3 SOUTH AMERICA
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 ACOUSTIC EMISSION TESTING MARKET RANKING ANALYSIS
11.3 COMPETITIVE SCENARIO
11.3.1 PARTNERSHIPS, ACQUISITIONS, AND AGREEMENTS
11.3.2 EXPANSIONS AND CONTRACTS
11.3.3 PRODUCT LAUNCHES AND COLLABORATIONS
12 COMPANY PROFILE
(Business overview, Products offered, Recent developments, MNM view, SWOT analysis)*
12.1 TUV RHEINLAND
12.2 TUV AUSTRIA
12.3 TUV NORD
12.4 MISTRAS
12.5 GENERAL ELECTRIC
12.6 PARKER HANNIFIN
12.7 ACOUSTIC EMISSION CONSULTING
12.8 VALLEN SYSTEME
12.9 KRN SERVICES
12.10 SCORE ATLANTA
*Business overview, Products offered, Recent developments, MNM view, SWOT analysis might not be captured in case of unlisted companies.
13 APPENDIX
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
LIST OF TABLES
Table 1 ACOUSTIC EMISSION TESTING MARKET, BY EQUIPMENT, 2015–2023 (USD MILLION)
Table 2 ACOUSTIC EMISSION TESTING MARKET FOR SENSORS, BY APPLICATION, 2015–2023 (USD THOUSAND)
Table 3 ACOUSTIC EMISSION TESTING
Table 1 ACOUSTIC EMISSION TESTING MARKET, BY EQUIPMENT, 2015–2023 (USD MILLION)
Table 2 ACOUSTIC EMISSION TESTING MARKET FOR SENSORS, BY APPLICATION, 2015–2023 (USD THOUSAND)
Table 3 ACOUSTIC EMISSION TESTING
