Ultrasonic Testing Market Analysis

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

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 â€“ 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 Analysis