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Ultrasonic Testing Market worth $4.2 billion by 2026, at a CAGR of 7.1%

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Ultrasonic Testing Market worth $4.2 billion by 2026, at a CAGR of 7.1%

April 27
01:12 2021
Ultrasonic Testing Market worth $4.2 billion by 2026, at a CAGR of 7.1%

Ultrasonic Testing Market
[259 Pages] Ultrasonic Testing Market categrizes the Global market by Type (Time-of Flight Diffraction, Immersion Testing) , Equipment (Flaw Detectors, Imaging System, and Bond Testers), Service, Vertical, and Geography. COVID-19 Impact on Ultrasonic Testing Industry.

According to a research report 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″, published by MarketsandMarkets, the global ultrasonic testing market size is estimated to grow from USD 3.0 billion in 2021 to USD 4.2 billion by 2026, growing at a CAGR of 7.1%. Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are among a few major factors driving the NDT and inspection markets growth. The high adoption of IoT devices and rising need to assess aging assets health also propel the development of the ultrasonic testing market.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=131229239

Baker Hughes (US), Olympus Corporation(Japan), MISTRAS Group (US), Intertek (UK), Amerapex Corporation (US), Sonatest (UK), Sonotron NDT (Israel), Tecscan System Inc (Canada), (Italy), Eddyfi (Canada), Ashtead Technology (Scotland) and Magnaflux (US), Fischer Technology Inc. (US), Cygnus Instruments Ltd. (UK), NDT Global GmBH (Germany), Acuren (US), and LynX Inspection (Canada) are the key players in the ultrasonic testing market.

Browse 153 market data Tables and 54 Figures spread through 159 Pages and in-depth TOC on “Ultrasonic Testing Market – Global Forecast to 2026”

Ultrasonic Testing Market

“The ultrasonic testing (UT) technique to hold the largest share of the NDT and inspection market in 2021”

Ultrasonic testing is expected to account for the largest market share in 2021. It is presently the most popular ultrasonic testing technique owing to its ability to identify defects and determine their severity accurately. Some advanced techniques such as ultrasonic immersion testing and guided-wave ultrasonic testing can also be used for critical applications in the oil & gas and aerospace industries. Ultrasonic testing has evolved considerably over the last few decades and is the most important NDT technique for identifying and quantifying surface and subsurface defects. Ultrasonic testing and inspection can be conducted by using a wide range of methods, a few of which are manual and cost-effective, while others need advanced automated equipment for determining faults in critical applications. This technique can also be deployed to inspect objects that are not easily accessible through direct contact, such as inspecting the piping system buried under the earths surface.

The market for the manufacturing vertical expected to grow at the highest CAGR during the forecast period

The manufacturing sector is expected to be the fastest-growing vertical in the ultrasonic testing market from 2021 to 2026. This sector is receiving a boost from emerging markets such as China, India, and South Africa due to their growing manufacturing and industrial base. The ultrasonic testing technique is widely used in manufacturing to ensure the integrity of components produced. This technique is primarily employed for preventive maintenance and failure analysis and the post-care of the damages.

North America expected to hold the largest market share during the forecast period

North America is expected to hold the largest share of the overall ultrasonic testing market by 2026. The rapid growth of automotive, power generation, oil & gas, and aerospace & defense industries in the region are the major reason for the growing adoption of ultrasonic testing equipment and rising demand for related services in North America.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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