Ultrasonic Testing Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Albany, NY -- (SBWire) -- 05/21/2019 --According to a new market research report titled 'Ultrasonic Testing Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,' published by Transparency Market Research , the global ultrasonic testing equipment market is expected to reach value of US$ 1,868.3 Mn by 2027, expanding at a CAGR of 7.8% from 2019 to 2027. According to the report, the global market is expected to be influenced by continuously rising demand for ultrasonic test equipment for use in the inspection of pipelines in the oil & gas industry during the forecast period. Similarly, other industries, such as power generation, aerospace & defense, automotive, manufacturing, construction, and medical, are also influenced by increased adoption of the ultrasonic testing technology to detect flaws, cracks, voids, and discontinuity in the product or material. This increased adoption of ultrasonic testing can directly augment the ultrasonic testing equipment market.

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Rising demand for weld technology for use in oil and gas pipelines

The global ultrasonic testing equipment market is projected to expand at a significant rate during the forecast period, due to increasing demand for use of the weld technology in oil and gas pipelines. At the global level, oil and gases are primarily transported by four mediums: rail, trucks, boats, and pipelines. Among these, 100% of natural gas is transported by pipelines, owing to difficulty in and the cost of transforming natural gas into liquid form. Also, 70% of crude oil and petroleum products are shipped by pipelines in the U.S. Demand for safe transportation of these explosive gases leads to high demand for ultrasonic testing of the weld technology for pipelines. For this testing, various ultrasonic testing equipment are used across the globe.

Apart from the oil & gas industry, ultrasonic testing equipment are increasingly being used in various sectors, such as aerospace & defense, automotive, medical, and construction, in order to identify faults, if any, in the manufacture of components. This testing ensures structural integrity and quality of products. This can make the product or system more efficient in terms of performance and reliability. This is projected to augment the demand for ultrasonic testing equipment across the world in the next few years.

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Global Ultrasonic Testing Equipment Market: Scope of Report

The global ultrasonic testing equipment market has been broadly segmented based on product, component, technique, end-use industry, and region. In terms of product, the market has been divided into flaw detectors, thickness gauges, ultrasonic scanners, and others. Among these, the flaw detectors segment holds a significant share of the market, owing to portability and ease of use offered by flaw detectors. Ultrasonic flaw detectors are small-sized, portable, microprocessor-based instruments suitable for both shop and field use. They generate and display an ultrasonic waveform that enables a trained operator to locate and categorize flaws in test pieces, often with the aid of analysis software.