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Ultrasonic Testing Market Size Grow with a CAGR of ~10.1%

Ultrasonic Testing Market

Research Nester’s recent market research analysis on “Ultrasonic Testing Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global ultrasonic testing market in terms of market segmentation by type, application, equipment, vertical, and by region.

Growing Concern for the Leakage of Equipment and Infrastructure Damage to Promote Global Market Share of Ultrasonic Testing

The global ultrasonic testing market is estimated to grow majorly on account of the increased use of medical devices in the healthcare sector with the rising number of diseases and patient populations across the world. The growing concern for rusting, leakage, and breakage of the pipelines in the food and beverages industry owing to the use of corrosive materials is likely to fuel the market value. The market size expansion contributed to the increasing use of rental ultrasonic equipment by small-scale industries to run the inspection on internal defects to progress production. The rise in the calibration needs in the laboratories and chemical industries is projected to propel the market share.

The requirement for standard certification from the government to get a license passing safety regulations is predicted to drive the market growth. The rising engineering activities in the construction and manufacturing sector are influencing market growth. The growing automotive industry needs clearance for no faults in the spare parts and components is estimated to promote growth opportunities. The increasing marine, textile, and aerospace industry around the globe is augmenting the market share.

Some of the major growth factors and challenges that are associated with the growth of the global ultrasonic testing market are:

Growth Drivers:

  • Surge in Construction Industry to Develop Infrastructures
  • Increasing Government Policies to Improve the Safety of People

Challenges:

The lack of skilled people and reduction in the oil and exploration activities are some of the major factors anticipated to hamper the global market size of ultrasonic testing. The high cost of ultrasonic instruments and the growing number of expensive parts used in ultrasonic equipment are hampering the market growth. Also, the rising investment cost of machinery that burdens small and medium enterprises is hindering market growth.

By equipment, the global ultrasonic testing market is segmented into flaw detectors, thickness gauges, industrial scanners, transducers & probes, bond testers, tube inspection systems, imaging systems, and others. The transducers & probes segment is to garner the highest revenue with a market share of 22% by the end of 2035 by growing at a significant CAGR over the forecast period. The transducers & probes segment growth is accounted for the rising application of flaw detectors in the various end-user sectors such as the aviation industry. The rising utilization of transducers & probes in the manufacturing sector to diagnose, and escalating use in material research and medical diagnosis is also estimated to boost the market segment size. The rising corrosion issues in the equipment of metal manufacturing and the growing demand for plastic, rubber, and other chemical substances are predicted to impact the transducers & probes market growth.

By region, the Asia Pacific ultrasonic testing market is to generate noteworthy revenue by the end of 2035. The rising railway sector in the region surges the demand for ultrasonic testing, as railway construction involves assembling many tracks, rods, and other joint links that require thorough monitoring from time to time to prevent accidents. The increasing application of ultrasonic testing with automation technology to evaluate the infrastructure facilities in the railways is expected to hike the market growth. Furthermore, the determination of faults such as bending, thermal defects, residual stress, and corrosion is anticipated to impact the market growth in a positive way.

Source: https://www.researchnester.com/reports/ultrasonic-testing-market/5020

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