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Ultrasonic Testing Market to Grow at 6.3% CAGR and Expected Reach USD 6.52 Billion In Size | Professional Report By SWOT Analysis, Opportunities And Forecast By 2029
Based on previous market performance, the Ultrasonic Testing market is expected to reach USD 6.52 billion in size by 2029. With a 6.3% CAGR.Ultrasonic Testing Market Overview:
Ultrasonic testing is a highly beneficial method for quickly identifying and evaluating product flaws. As it enables the early detection of surface and subsurface flaws in finished and work-in-progress (WIP) goods, it is a crucial quality control tool in the manufacturing process. In industrial assets and public infrastructures like factory buildings, platforms, bridges, railway lines, piping systems, and industrial machinery, ultrasonic testing is used to find flaws and assess structural integrity.
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The market for ultrasonic testing is expanding significantly globally and is predicted to continue expanding over the coming years. The primary drivers of the market expansion for ultrasonic testing are rising machinery complexity, expanding demands for exact product usage standards, continued strict implementation of government regulations to safeguard the workforce's safety, and rising severe quality control needs.
Based on our expert's analysis the players that are leading the market includes: Mistras Group, Olympus Corporation, Baker Hughes, Intertek, Sonatest Ltd, Amerapex Corporation, Sonotron Ndt, Tecscan Systems Inc, Ashtead Technology and Ndt Systems Inc. and Others.
The whole market is segmented as follows:
Ultrasonic Testing Market By Type, 2020-2029, (USD Million) (Thousand Units)
Time-Of-Flight Diffraction
Phased Array
Immersion Testing
Guided-Wave Testing
Acoustography
Ultrasonic Testing Market By Equipment, 2020-2029, (USD Million) (Thousand Units)
Flaw Detectors
Thickness Gauges
Transducers & Probes
Industrial Scanners
Ultrasonic Testing Market By Vertical, 2020-2029, (USD Million) (Thousand Units)
Manufacturing
Oil & Gas
Aerospace
Automotive
Power Generation
Industry Developments:
Phoenix Powerscan HE solution, the first high-energy computed tomography system from Walgate Technologies, a Baker Hughes company and the market leader in inspection solutions, was released in December 2020.
A significant provider of pipeline integrity management software and services to energy transportation businesses, New Century Software (US), was bought by MISTRAS Group in September 2019.
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Ultrasonic Testing Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Ultrasonic Testing Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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