Failure Analysis Market 2021 Strategic Assessments and Business Scenario – Presto Engineering Inc., IBM Corporation (IBM Global Services), Rood Microtec GmbH, EAG Inc., MASER Engineering BV

The Failure Analysis Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The market for failure analysis was valued at USD 7.65 billion in 2019, and is expected to reach USD 11.79 billion by the end of 2025, registering a CAGR of 7.50% during the forecast period.

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Competitive Landscape:

Top Companies: Presto Engineering Inc., IBM Corporation (IBM Global Services), Rood Microtec GmbH, EAG Inc., MASER Engineering BV, NanoScope Services Ltd, CoreTest Technologies, TEC Materials Testing, McDowell Owens Engineering Inc., Leonard C Quick & Associates Inc., Crane Engineering, Exponent Inc.

Market Overview:

- Failure analysis is a process in which a failed product is investigated/examined to determine what caused it to fail. There are several methods that failure analysts use, for example, failure modes and effects analysis (FMEA), Ishikawa fishbone diagrams or fault-tree analysis (FTA).
- Understanding what caused one product to fail may help in improving next-generation versions of the product or other products. By performing a failure analysis on a product, critical information about the design process, manufacturing processes, material properties, or actual service conditions can be determined, in order to make the product safer or improve the next iteration.

Scope of the Report

Failure analysis is the systematic investigation of a part failure with the objectives of determining the root causes of failure and the corrective actions needed to prevent future failures. The failure analysis techniques are used in various end-user verticals like automotive, oil and gas, defense, etc.

Industry News and Updates:

- March 2018 - Intertek launched the commercial laundering testing services for textiles. These services simulate real-world commercial laundering conditions to determine the best care for repeatedly heavily laundered textiles.
- January 2018 - Elements acquired Metals Testing Company (MTC) to strengthen the Groups aerospace non-destructive testing platform.

Key Market Trends:

North America occupies the Largest Market Share
- North America, majorly owing to the United States is one of the earliest adopters of failure analysis techniques, originally introduced to ensure no major disruptions occur in the existing business models.
- The country is home to a majority of the dominant industries. For instance, the automotive sector in the country is ruled by General Motors and Ford, who rely heavily on automation.
- Furthermore, the United States is one the leaders in terms of crude oil production and has several oil rigs spread out across the North American continent. After the devastating effects of various oil rig accidents, the most notable being the Deepwater Horizon oil spill that occurred in 2010, discharging over 4.5 million barrels of oil into the sea due to a mechanical failure, the need for failure analysis techniques is being felt more acutely.

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What are the market influences that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Failure Analysis Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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