However, high initial cost of the acoustic emission testing system may have a negative impact on the investor confidence to invest in adopting such high end technology.
Rockville, MD -- (SBWIRE) -- 09/20/2019 -- Acoustic emission testing is used for the analysis and detection of acoustic signals in order to gain valuable information regarding discontinuity in a material and its origin. Acoustic emissions can have a serious impact on material properties and these emissions can be generated from natural events such as earthquakes, which can lead to the initialization of cracks, dislocation and slip movements, twinning, melting and phase transformations in metals. Attributing to its versatility, acoustic emission testing has many industrial applications in assessing structural integrity, testing leaks, detecting flaws or monitoring weld quality. Increasing emphasis on improving production quality and government initiatives on implementing NDT solutions are anticipated to drive the growth of the Acoustic Emission Testing Market in the coming years.
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Acoustic emission testing can be done through various equipment including amplifiers, sensors and detection equipment. Among all these equipment, acoustic emission testing sensors play a critical role in examining material behavior as they detect high frequencies generated due to leaks, corrosion and defects. Furthermore, acoustic emission inspection services account for a considerable share in the market, which can be attributed to the benefits provided by the inspection of components and eventually result in increasing the operational life of the component.
Acoustic Emission Testing Market: Dynamics
Increasing emphasis on improving production quality, coupled with the increase in productivity, is anticipated to ramp up the market in the coming years. Attributing to this, numerous manufacturers are focusing on opting for acoustic emission testing of their materials, which will subsequently promote the growth of the market over the assessment period. Moreover, with the increasing awareness towards safety in plants, the requirement of asset health monitoring has increased subsequently in the past years. The same trend is expected to continue over the next few years. This is anticipated to increase the demand for acoustic emission testing services. Moreover, the governments of numerous countries are promoting the use of NDT solutions. This is anticipated to further boost the growth of the acoustic emission testing market in the coming years. Moreover, the demand for acoustic emission testing technology is increasing significantly in the power generation industry from the past few years. This is anticipated to create opportunities for further augmentation of the market across the globe. Furthermore, with the significant increase in aging infrastructure, the demand and need of acoustic emission testing services is anticipated to grow manifold, which will further support the growth of the market over the assessment period.
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However, high initial cost of the acoustic emission testing system may have a negative impact on the investor confidence to invest in adopting such high end technology. Moreover, lack of skilled workforce to operate the machinery is anticipated to further derail the growth of the market in the coming years.
Acoustic Emission Testing Market: Regional Outlook
North America and Europe are anticipated to hold a significant share in the global acoustic emission testing market in the coming years. This can be attributed to the increase in government initiatives, aging infrastructure and need for structural monitoring in the region. Furthermore, with the increasing number of structurally deficit bridges in the developed economies of Europe and North America, the demand for acoustic emission testing services is anticipated to ramp up considerably. Moreover, with numerous companies planning to expand their footprint in Asia Pacific, the region is expected to become a manufacturing hub in the coming years. Key manufacturers in the region are focusing on improving their product quality in order to increase their brand value and gain potential customers. Attributing to this, the demand for acoustic emission testing technology is expected to ramp up over the coming years in Asia Pacific.
Acoustic Emission Testing Market: Key Participants
TÜV Nord Group. TÜV Rheinland Group, TÜV Austria Group, Mistras Group, Inc. Parker Hannifin Corporation, Vallen Systeme GmbH, Score Atlanta Inc. KRN Services, Inc. General Electric Co. Acoustic Emission Consulting, Inc. CTLGroup, Sievert Group of Companies
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