Ultrasonic Testing Market Size

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.

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 Size