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The rise of cities around the world has brought about improvements in many manufacturing industries like cars, buildings, oil & gas, power, aerospace & defense, and more. This progress includes advancements in technology, equipment, and systems. Many manufacturing companies globally use a technique called non-destructive testing (NDT) to check the quality of their products and find any issues in the materials or items they produce.
Ultrasonic NDT is one type of non-destructive testing. It uses sound waves to discover cracks and defects in the parts and materials of a product. In the market, you can find various tools and systems used in ultrasonic NDT, such as flaw detectors, thickness gauges, transducers, and scanners.
In 2018, the global market for ultrasonic NDT equipment was valued at USD 1010.8 million. Experts predict that it will grow at a rate of 7.31% from 2019 to 2025. Many factors contribute to this growth worldwide. One of the main drivers is the development of infrastructure and the increasing awareness of the importance of inspecting and ensuring the quality of materials in different industries.
The aerospace and defense industry plays a significant role in boosting the ultrasonic NDT market. This equipment helps inspect components for flaws and imperfections, reducing the risk of accidents and improving safety. Another contributing factor is the growing demand for renewable energy. With increased investments in renewable energy generation, there is a need for advanced and reliable methods to inspect products and parts before installation. Ultrasonic NDT methods are crucial for checking the overall infrastructure of wind turbines, from weld inspection to measuring wall thickness. They are also used to detect various issues like inclusions, invisible cracks, voids, and other discontinuities in metals, plastics, ceramics, and composites.
Inspecting wind turbine blades for damage is another vital application of ultrasonic NDT equipment. This method quickly, reliably, and effectively reveals any flaws, ensuring the proper functioning and safety of the wind turbines.
In summary, the growth of urbanization worldwide has led to advancements in manufacturing industries, and the use of ultrasonic NDT equipment is on the rise. This technology plays a crucial role in inspecting and ensuring the quality of products, with significant applications in industries like aerospace and defense and renewable energy. As these industries continue to grow, the demand for ultrasonic NDT equipment is expected to increase, driving further advancements in technology and ensuring the safety and reliability of various products and infrastructure.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 20 Billion |
| Market Size Value In 2023 | USD 28 Billion |
| Growth Rate | 9.2% (2023-2030) |
Ultrasonic NDT Equipment Market Highlights:
Global Ultrasonic NDT Equipment Market Overview
Ultrasonic NDT Equipment Market Size was valued at USD 21.8 Billion in 2023. The Ultrasonic NDT Equipment market industry is projected to grow from USD 23.8 Billion in 2024 to USD 47.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.10% during the forecast period (2024 - 2032). Industries are increasingly focusing on improving the overall production rate in recent times; energy optimization and cost efficiency are considered primary factors for any business sector and are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Ultrasonic NDT Equipment Market Trends
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Adoption of technology to boost the market growth
The potential benefits of the Ultrasonic NDT method include higher penetration power which enables to detection of even deeper flaws in the machinery part. The higher sensitivity of the Ultrasonic NDT allows the detection of even the tiny fractures and flaws. Additionally, the Ultrasonic NDT can be utilized to determine the alloy structure of the components that are possessing different acoustic properties. Therefore, several end-user industries prefer Ultrasonic NDT over other testing methods. They are considered the major driving factors of the Ultrasonic NDT equipment industry growth.
The Ultrasonic NDT is capable of providing the testing results with great accuracy therefore the industries that have a lower tolerance to errors highly utilize the Ultrasonic NDT method. Moreover, the non-hazardous property of the Ultrasonic NDT method ensures safety for the personnel operating it, additionally, the safety of the equipment and the material is also ensured.
The development of the end-user industries such as aerospace, defense, oil and gas, and manufacturing industries are highly influencing the overall growth of the Ultrasonic NDT equipment market. Ultrasonic testing is carried out for detecting corrosion and other flaws that potentially prevent the further degradation of the part or component. The early detection of the flaws significantly reduces the major costs of replacing the component or the entire equipment. Therefore industries are intensively utilizing the Ultrasonic NDT to cut their expenses. Such factors are presenting lucrative opportunities for the overall growth of the Ultrasonic NDT equipment industry. Therefore, such factors related to Ultrasonic NDT Equipment have enhanced the Ultrasonic NDT Equipment market CAGR across the globe in recent years.
Ultrasonic NDT Equipment Market Segment Insights
Ultrasonic NDT Equipment End User Insights
Based on end users, the Ultrasonic NDT Equipment Market segmentation includes Oil & Gas Industry, Power Generation, Aerospace and defense sector, and the Automotive and Transportation industry. The Oil & Gas Industry segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. The growth of this segment can be attributed to the increasing demand for non-destructive testing in the exploration and production of oil and gas, as well as the growing awareness of the benefits of ultrasonic testing in the industry. The Power Generation and Aerospace and Defense sectors are also expected to show significant growth due to the increasing demand for maintenance and inspection of power generation equipment and aerospace components, respectively. The Automotive and Transportation industry is also expected to show steady growth due to the increasing demand for ultrasonic testing in the production of vehicles and transportation equipment. these all factors for Ultrasonic NDT Equipment positively impact the market growth.
Figure 2: Ultrasonic NDT Equipment Market, by Distribution Channels, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Ultrasonic NDT Equipment Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Ultrasonic NDT Equipment market is growing rapidly and is projected to be the fastest-growing region in the coming years. This growth can be attributed to the increasing demand for ultrasonic NDT equipment in rapidly developing countries, particularly in China and India, driven by the growing industrial sector, increasing infrastructure development, and the increasing demand for non-destructive testing in various industries, including oil and gas, power generation, and transportation. The growing awareness of the benefits of ultrasonic testing and the increasing focus on safety and quality control are also driving the growth of the market in the Asia-Pacific region. The presence of a large number of key players and the increasing investment in research and development activities are expected to further boost the growth of the market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: ULTRASONIC NDT EQUIPMENT MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s Ultrasonic NDT Equipment market accounts for the second-largest market share. This is mainly due to the presence of well-established industrial sectors and the increasing demand for non-destructive testing in various industries, including aerospace and defense, power generation, and oil and gas. The growing awareness of the benefits of ultrasonic testing and the increasing focus on safety and quality control are also driving the growth of the market in Europe. The presence of several key players in the region and the increasing investment in research and development activities are expected to further boost the growth of the market in Europe. Further, the Germany Ultrasonic NDT Equipment market held the largest market share, and the UK Ultrasonic NDT Equipment market was the fastest-growing market in the European region.
North American, Ultrasonic NDT Equipment market, is expected to be the largest from 2023 to 2030. The dominance of North America can be attributed to the presence of a large number of key players in the region and the increasing demand for ultrasonic NDT equipment in various industries, particularly in the Oil & Gas and Power Generation industries. Moreover, the U.S. Ultrasonic NDT Equipment market held the largest market share, and the Canada Ultrasonic NDT Equipment market was the fastest-growing market in the North American region.
Ultrasonic NDT Equipment Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Ultrasonic NDT Equipment market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Ultrasonic NDT Equipment industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Ultrasonic NDT Equipment. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Ultrasonic NDT Equipment industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Ultrasonic NDT Equipment industry to benefit customers and expand the market sector. Major Ultrasonic NDT Equipment market players, including GE Inspection Technologies, Olympus Corporation, Sonatest, Intertek’s, Eddyfi, James Instruments, NDT Systems, PaR systems, Qualitest International and Trinity NDT, and others, are attempting to increase market demand by funding R&D initiatives.
GE Inspection Technologies is a subsidiary of General Electric (GE) that specializes in the development and manufacturing of ultrasonic and eddy current non-destructive testing (NDT) equipment. The company provides a wide range of NDT equipment, including handheld and benchtop ultrasonic flaw detectors, phased array systems, and eddy current inspection systems. GE Inspection Technologies caters to various industries, including oil and gas, power generation, aerospace and defense, and automotive. With its extensive product portfolio, the company offers innovative solutions for the inspection and testing of various components, including pipelines, pressure vessels, castings, and forgings. The company operates globally and has a strong presence in major markets, including Europe, North America, and Asia-Pacific.
Olympus Corporation is a multinational company headquartered in Tokyo, Japan that specializes in the manufacture of optical and digital imaging products, scientific solutions, and medical equipment. The company has a strong presence in the non-destructive testing (NDT) market, offering a wide range of ultrasonic testing equipment, including handheld and benchtop ultrasonic flaw detectors, phased array systems, and ultrasonic thickness gauges. Olympus Corporation caters to various industries, including oil and gas, aerospace, power generation, and automotive. The company has a strong global presence, with its NDT products being used in various applications, including the inspection of pipelines, pressure vessels, castings, and forgings.
Key Companies in the Ultrasonic NDT Equipment market include
- GE Inspection Technologies
- Olympus Corporation
- Sonatest
- Intertek’s
- Eddyfi
- James Instruments
- NDT Systems
- PaR Systems
- Qualitest International
- Trinity NDT among others
Ultrasonic NDT Equipment Industry Developments
October 2021: Intertek's announced the addition of an X-ray computed tomography (CT) scanner to the company's extensive laboratory of advanced technology.
Ultrasonic NDT Equipment Market Segmentation
Ultrasonic NDT Equipment End User Outlook
- Oil & Gas Industry
- Power Generation
- Aerospace and defense sector
- Automotive and Transportation industry
Ultrasonic NDT Equipment Regional Outlook
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North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
- Middle East
- Africa
- Latin America
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