Ultrasonic Testing Market Size & Share, by Type (Time-Of-Flight Diffraction, Phased Array, Immersion Testing, Guided-Wave Testing, Acoustography); Application (Flaw Detection, Material Thickness, Dimensional Measurement); Equipment (Flaw Detectors, Thickness Gauges, Industrial Scanners); End-user (Manufacturing, Oil & Gas, Aerospace, Automotive) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5020
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Ultrasonic Testing Market size is stated to register USD 13.29 Billion by the end of 2035, witnessing around 10.1% CAGR during the forecast period i.e. 2023- 2035. In the year 2022, the industry size of ultrasonic testing was USD 4.19 Billion. There has been an increased usage of ultrasonic testing in the engineering industries to evaluate the properties of equipment, structures, components, and materials to prevent damage issues. Hence, the evaluation and analysis of the products in the end-user sector to reduce defects are driving market expansion.

Ultrasonic testing has various advantages, including the capacity to identify interior effects and the absence of radiation. This type of ultrasonic testing can also be utilized for evaluation or flaw discovery, high-speed rotating engine parts, material thickness, and dimensional measurement. The demand for quality control tools in the manufacturing industry to detect substance faults at an early stage to produce a finished product with better output is surging the demand for ultrasonic testing.


Ultrasonic Testing Market
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Ultrasonic Testing Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Number of Industries across the World with Rapid Urbanization – The increasing number of industries globally owing to strong demand from consumers is propelling the market growth. The market size expansion holds a significant share owing to the demand for monitoring, diagnosis, and detection of conditions of industrial assets.
  • Rise in the Construction Sector with Huge Infrastructure Development – The development of military, aerospace, and marine industries is anticipated to hike the construction sector which in turn propels the market growth. Moreover, an increase in residential, commercial, and public buildings is set to drive the market demand. The construction sector accounts for over 4% of the U.S. GDP as of 2022 and more than 1,400,000 new houses are constructed in the year 2023 with a rise of 12% from the base of 2022.
  • Government Policies to Enhance the Safety of the Public and Product Quality – The demand for safety checks in industries such as aircraft, roads, and highways to prevent unexpected accidents is positively impacting the market demand in the coming years.

Challenges

  • Increased Price of Ultrasonic Equipment – The rising cost of machinery, equipment, and instruments of the ultrasonic method owing to the presence of many sensors, highly expensive parts, and components is estimated to hamper the market expansion. The increasing automation technology in ultrasonic testing to monitor defects is hindering the market size. The development of new methods such as nanorobots that are built to inspect the faults in miniature pipelines of oil and gas sectors is limiting the market expansion.
  • Decrease in the Oil and Exploration Activities
  • Absence of Skilled and Experienced Professionals to Run Ultrasonic Testing Activities

Ultrasonic Testing Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 10.1%

Base Year Market Size (2022)

~ USD 4.19 Billion

Forecast Year Market Size (2035)

~ USD 13.29 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Ultrasonic Testing Segmentation

Type (Time-Of-Flight Diffraction, Phased Array, Immersion Testing, Guided-Wave Testing, Acoustography)

The time-of-flight diffraction (TOFD) segment is projected to hold over 30% share of the global ultrasonic testing market in the coming years. The growing need for a non-destructive method of evaluation for the faults in industries using sound waves is predicted to fuel the market segment growth. The increasingly aged instruments and the rise in strict inspection rules to prevent leakages in the pipelines to minimize explosions in the chemical & nuclear refineries are poised to augment the market segment growth. Further, the growing number of oil and gas industries with rising demand from the automobile industry and power generation sector is also estimated to promote growth chances to the time-of-flight diffraction segment in the coming years.

Vertical (Manufacturing, Oil & Gas, Aerospace, Automotive, Public Infrastructure, Power Generation)

The manufacturing segment in the ultrasonic testing market is projected to register a noteworthy growth rate of 29% during the forecast period. The increasing application of ultrasonic testing methods to identify faults in machinery, equipment, and end-product of the production unit rises the market segment demand. The growing need to evaluate the old machinery and infrastructure of the manufacturing units and the increasing demand for goods and products with rising populations across the globe will drive the market segment growth. The increasing demand for hardware tools, devices, clothes, food, and many other daily products such as shoes, electronics, cars, and buses enhance the need for the manufacturing sector and in turn, rising the opportunity for the segment growth.

Our in-depth analysis of the global market includes the following segments:

        Type

  • Time-of-Flight Diffraction
  • Phased Array
  • Immersion Testing
  • Guided-Wave Testing
  • Acoustography

        Application

  • Flaw Detection
  • Material Thickness
  • Dimensional Measurement

 

        Equipment

  • Flaw Detectors
  • Thickness Gauges
  • Industrial Scanners
  • Transducers & Probes
  • Bond Testers
  • Tube Inspection Systems
  • Imaging System

         Vertical

  • Manufacturing
  • Oil & Gas
  • Aerospace
  • Automotive
  • Public Infrastructure
  • Power Generation

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Ultrasonic Testing Industry- Regional Synopsis

North American Market Forecast

The North America ultrasonic testing market is set is account for around 30% of the revenue share by 2035. The increasing welding works in the region with the development of infrastructure is fueling the market size. The hike in the market growth is accounted for by the expansion of the aviation sector with growing tourists and migration of people for jobs, education, and other business purposes. The aviation of U.S. each day operates more than 20,000 flights with over 2 million passengers across 80 countries and over 60,000 tons of cargo across about 200 countries.

APAC Market Statistics

Asia Pacific ultrasonic testing market is estimated to register a noteworthy market size with market revenue of about 26% through 2035. The rising railway infrastructure development with the expansion of the railway sector is estimated to hike the growth of the market. The increase in the need for tracking the faults, and uneven structures to prevent the destruction of rail accidents in the region is driving the market growth. The growing use of ultrasonic testing for industrial assets and public infrastructures is expected to rise the market demand.

Research Nester
Ultrasonic Testing Market Size
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Top Featured Companies Dominating the Ultrasonic Testing Landscape

top-features-companies
    • Baker Hughes
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Olympus Corporation
    • MISTRAS Group
    • Eddyfi/NDT
    • T.D. Williamson Inc.
    • Bosello High Technology Srl.

    Fischer Technology Inc.

    • Cygnus Instruments Ltd.
    • NDT Global GmbH
    • LynX Inspection

In-the-news

In The News

  • Baker Hughes declared the order of liquified natural gas from the company QatarEnergy to deliver two main refrigerant compressors for the North Field South project. The project is estimated to enhance the production capacity of Qatar’s LNG unit from 110 million tons to 126 million tons by the end of 2027. The order includes main refrigerant compressors with six gas turbines and twelve centrifugal compressors.
  • Eddyfi/NDT announced that finished the transaction to acquire Zetec, Inc. Zetec was promoted by the Eddyfi company to develop the brand in prominent sectors such as power generation, aerospace, defense, rail, and manufacturing. The inclusion of the Zetec company enhances the experience and expands the market benefiting the business by doubling the sales increasing providing new prospects. 

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5020
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rise in the construction sector with huge infrastructure development, and the rising number of industries across the world with rapid urbanization are the major factors driving the market growth.

The market size of ultrasonic testing is anticipated to attain a CAGR of ~10.1% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Baker Hughes, Olympus Corporation, MISTRAS Group, Eddyfi/NDT, T.D. Williamson Inc., Bosello High Technology Srl., Fischer Technology Inc., Cygnus Instruments Ltd., NDT Global GmbH, LynX Inspection, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, equipment, vertical, and by region.

The manufacturing segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Absence of skilled and experienced professionals to run ultrasonic testing activities is estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ultrasonic Testing Market Report Scope
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