Pune, India -- (SBWIRE) -- 05/16/2019 -- The Global Ultrasonic Testing Equipment Market is estimated to grow at CAGR above 7.5 % over the forecast time frame 2019-2026 and reach the market value around USD 1.8 billion by 2026.

According to the report, the demand for ultrasonic testing equipment for use in oil/gas industry inspections during the forecast period should continue to influence the world market. Similarly, the increased adoption of ultrasonic test technology for detecting defects, cracks, voids and discontinuities on the product or material also influences other industries, such as electricity generation, aerospace & defense, automotive, production, construction and medical. With this increased use of ultrasonic testing, the ultrasonic testing equipment market can be increased directly. North America, with demand at CAGR over 7 percent between 2019 and 2026, is expected to be a leader on the world market for ultrasonic test equipment. More investments are expected to drive the market during the revision period in the petrol and gas industry for safe transportation of pipelines and strict public regulations on safety and quality control.

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Strom generating equipment reliability is essential because system failure can negatively influence the Mole network infrastructure and pose serious safety risks. For inspecting energy production infrastructures, like boilers, compressors, turbines, pipelines, storage vessels and tanks, ultrasonic inspection is applied. Globally, both due to the growing population and industrialization, demand for power has been growing. With the introduction of new generation supply sources and the addition of new types of freight from the demand side, the landscape of the power generation industry evolves. The need to periodically maintain electricity assets has increased through these changes. Ultrasound testing can therefore detect finer defects, offering better inspection in comparison with other test methods. This is why power is growing. The stipulate for ultrasonic test equipment is also likely to increase, both in the industrial and residential sectors.

Growing Demand for Weld Technology for Use in Gas and Oil Pipelines

Due to increased demand for the use of welding technology in oil and gas pipelines, the global market for ultrasonic test equipment is expected to expand significantly during this forecast period. Oil and gas are transported mainly through four mediums worldwide, namely, rail, trucks, boats and pipelines. 100 %, due to the difficulty and cost to transform natural gas in liquid form, is transported by pipelines. Furthermore, the United States is shipping pipelines to 70% of crude oil or petroleum products. Requirements for the safe transport of these explosive gasses lead to high ultrasonic welding technology testing demands for pipelines. Different ultrasound testing devices are used throughout the world for this test. In addition to the oil and gas industries, in order to identify component manufacturing faults, ultrasonic testing equipment in different sectors is increasingly used, such as aerospace and defense, auto, medical and construction. This test ensures structural integrity and product quality. This can improve the efficiency and reliability of the product or system. The demand for ultrasonic testing equipment worldwide is expected to increase in the next few years.

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Key Players & Strategies

Key players in the global market of ultrasonic test equipment focus on the development and market entry of new products to achieve a competitive edge and improve their brand positioning on the market of two players i.e. at present. The maximum income is generated by Olympus Corporation and Sonatest Ltd. Baker Hughes (Ge) company, Amerapex Corporation, Ndt Systems Inc., LLC, TecScan System Inc., Ametek, Inc., Zeal International, and Eddyfi NDT Inc. are additionally operating on the markets.

With several companies on the market, the market appears to have been moderately concentrated. This report will help customers identify new growth opportunities and design unique growth strategies by providing an extensive market analysis and information on products offered by businesses.

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TABLE OF CONTENT

CHAPTER 1. INDUSTRY OVERVIEW

1.1. Definition and Scope
1.1.1. Definition of Ultrasonic Testing Equipment
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Ultrasonic Testing Equipment Market By Product
1.2.2.1. Global Ultrasonic Testing Equipment Market Revenue and Growth Rate Comparison By Product (2015-2026)
1.2.2.2. Global Ultrasonic Testing Equipment Market Revenue Share By Product in 2017
1.2.2.3. Flaw Detectors
1.2.2.4. Ultrasonic Scanners
1.2.2.5. Thickness Gauges
1.2.2.6. Others
1.2.3. Ultrasonic Testing Equipment Market By Component
1.2.3.1. Global Ultrasonic Testing Equipment Market Revenue and Growth Rate Comparison By Component (2015-2026)
1.2.3.2. Global Ultrasonic Testing Equipment Market Revenue Share By Component in 2017
1.2.3.3. Services
1.2.3.4. Hardware
1.2.4. Ultrasonic Testing Equipment Market By Technique
1.2.4.1. Global Ultrasonic Testing Equipment Market Revenue and Growth Rate Comparison By Technique (2015-2026)
1.2.4.2. Global Ultrasonic Testing Equipment Market Revenue Share By Technique in 2017
1.2.4.3. Conventional
1.2.4.4. Advanced
1.2.5. Ultrasonic Testing Equipment Market By End-use Industry
1.2.5.1. Global Ultrasonic Testing Equipment Market Revenue and Growth Rate Comparison By End-use Industry (2015-2026)
1.2.5.2. Global Ultrasonic Testing Equipment Market Revenue Share By End-use Industry in 2017
1.2.5.3. Oil & Gas
1.2.5.4. Power Generation
1.2.5.5. Aerospace & Defense
1.2.5.6. Manufacturing
1.2.5.7. Automotive
1.2.5.8. Others
1.2.6. Ultrasonic Testing Equipment Market by Geography
1.2.6.1. Global Ultrasonic Testing Equipment Market Revenue and Growth Rate Comparison by Geography (2015-2026)
1.2.6.2. North America Ultrasonic Testing Equipment Market Revenue and Growth Rate (2015-2026)
1.2.6.3. Europe Ultrasonic Testing Equipment Market Revenue and Growth Rate (2015-2026)
1.2.6.4. Asia-Pacific Ultrasonic Testing Equipment Market Revenue and Growth Rate (2015-2026)
1.2.6.5. Latin America Ultrasonic Testing Equipment Market Revenue and Growth Rate (2015-2026)
1.2.6.6. Middle East and Africa (MEA) Ultrasonic Testing Equipment Market Revenue and Growth Rate (2015-2026)

CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS

2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter's Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2017
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players

CHAPTER 3. MANUFACTURING PLANTS ANALYSIS

3.1. Capacity and Commercial Production Date of Global Ultrasonic Testing Equipment Major Manufacturers in 2017
3.2. Manufacturing Plants Distribution of Global Ultrasonic Testing Equipment Major Manufacturers in 2017
3.3. R&D Status and Technology Source of Global Ultrasonic Testing Equipment Major Manufacturers in 2017
3.4. Raw Materials Sources Analysis of Global Ultrasonic Testing Equipment Major Manufacturers in 2017

CHAPTER 4. ULTRASONIC TESTING EQUIPMENT MARKET BY PRODUCT

4.1. Global Ultrasonic Testing Equipment Revenue By Product
4.2. Flaw Detectors
4.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
4.3. Ultrasonic Scanners
4.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
4.4. Thickness Gauges
4.4.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.4.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
4.5. Others
4.5.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.5.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)

CHAPTER 5. ULTRASONIC TESTING EQUIPMENT MARKET BY COMPONENT

5.1. Global Ultrasonic Testing Equipment Revenue By Component
5.2. Services
5.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
5.3. Hardware
5.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)

CHAPTER 6. ULTRASONIC TESTING EQUIPMENT MARKET BY TECHNIQUE

6.1. Global Ultrasonic Testing Equipment Revenue By Technique
6.2. Conventional
6.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.3. Advanced
6.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)

CHAPTER 7. ULTRASONIC TESTING EQUIPMENT MARKET BY END-USE INDUSTRY

7.1. Global Ultrasonic Testing Equipment Revenue By End-use Industry
7.2. Oil & Gas
7.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
7.3. Power Generation
7.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
7.4. Aerospace & Defense
7.4.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.4.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
7.5. Manufacturing
7.5.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.5.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
7.6. Automotive
7.6.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.6.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
7.7. Others
7.7.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.7.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)

CHAPTER 8. NORTH AMERICA ULTRASONIC TESTING EQUIPMENT MARKET BY COUNTRY

8.1. North America Ultrasonic Testing Equipment Market Revenue and Growth Rate, 2015 - 2026 ($Million)
8.2. North America Ultrasonic Testing Equipment Market Revenue Share Comparison, 2015 & 2026 (%)
8.3. U.S.
8.3.1. U.S. Ultrasonic Testing Equipment Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
8.3.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.3.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
8.3.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
8.4. Canada
8.4.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
8.4.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.4.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
8.4.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
8.5. Mexico
8.5.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
8.5.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.5.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
8.5.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)

CHAPTER 9. EUROPE ULTRASONIC TESTING EQUIPMENT MARKET BY COUNTRY

9.1. Europe Ultrasonic Testing Equipment Market Revenue and Growth Rate, 2015 - 2026 ($Million)
9.2. Europe Ultrasonic Testing Equipment Market Revenue Share Comparison, 2015 & 2026 (%)
9.3. UK
9.3.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
9.3.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.3.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
9.3.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
9.4. Germany
9.4.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
9.4.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.4.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
9.4.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
9.5. France
9.5.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
9.5.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.5.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
9.5.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
9.6. Spain
9.6.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
9.6.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.6.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
9.6.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
9.7. Rest of Europe
9.7.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
9.7.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.7.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
9.7.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)

CHAPTER 10. ASIA-PACIFIC ULTRASONIC TESTING EQUIPMENT MARKET BY COUNTRY

10.1. Asia-Pacific Ultrasonic Testing Equipment Market Revenue and Growth Rate, 2015 - 2026 ($Million)
10.2. Asia-Pacific Ultrasonic Testing Equipment Market Revenue Share Comparison, 2015 & 2026 (%)
10.3. China
10.3.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
10.3.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.3.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
10.3.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
10.4. Japan
10.4.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
10.4.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.4.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
10.4.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
10.5. India
10.5.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
10.5.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.5.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
10.5.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
10.6. Australia
10.6.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
10.6.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.6.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
10.6.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
10.7. South Korea
10.7.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
10.7.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.7.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
10.7.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
10.8. Rest of Asia-Pacific
10.8.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
10.8.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.8.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
10.8.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)

CHAPTER 11. LATIN AMERICA ULTRASONIC TESTING EQUIPMENT MARKET BY COUNTRY

11.1. Latin America Ultrasonic Testing Equipment Market Revenue and Growth Rate, 2015 - 2026 ($Million)
11.2. Latin America Ultrasonic Testing Equipment Market Revenue Share Comparison, 2015 & 2026 (%)
11.3. Brazil
11.3.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
11.3.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
11.3.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
11.3.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
11.4. Argentina
11.4.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
11.4.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
11.4.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
11.4.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
11.5. Rest of Latin America
11.5.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
11.5.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
11.5.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
11.5.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)

CHAPTER 12. MIDDLE EAST ULTRASONIC TESTING EQUIPMENT MARKET BY COUNTRY

12.1. Middle East Ultrasonic Testing Equipment Market Revenue and Growth Rate, 2015 - 2026 ($Million)
12.2. Middle East Ultrasonic Testing Equipment Market Revenue Share Comparison, 2015 & 2026 (%)
12.3. Saudi Arabia
12.3.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
12.3.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
12.3.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
12.3.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
12.4. UAE
12.4.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
12.4.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
12.4.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
12.4.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
12.5. Rest of Middle East
12.5.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
12.5.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
12.5.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
12.5.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)

CHAPTER 13. AFRICA ULTRASONIC TESTING EQUIPMENT MARKET BY COUNTRY

13.1. Africa Ultrasonic Testing Equipment Market Revenue and Growth Rate, 2015 - 2026 ($Million)
13.2. Africa Ultrasonic Testing Equipment Market Revenue Share Comparison, 2015 & 2026 (%)
13.3. South Africa
13.3.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
13.3.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
13.3.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
13.3.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
13.4. Egypt
13.4.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
13.4.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
13.4.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
13.4.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)
13.5. Rest of Africa
13.5.1. Market Revenue and Forecast By Product, 2015 - 2026 ($Million)
13.5.2. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
13.5.3. Market Revenue and Forecast By Technique, 2015 - 2026 ($Million)
13.5.4. Market Revenue and Forecast By End-use Industry, 2015 - 2026 ($Million)

CHAPTER 14. COMPANY PROFILE

14.1. Olympus Corporation
14.1.1. Company Snapshot
14.1.2. Overview
14.1.3. Financial Overview
14.1.4. Product Portfolio
14.1.5. Key Developments
14.1.6. Strategies
14.2. Sonatest Ltd
14.2.1. Company Snapshot
14.2.2. Overview
14.2.3. Financial Overview
14.2.4. Product Portfolio
14.2.5. Key Developments
14.2.6. Strategies
14.3. Baker Hughes
14.3.1. Company Snapshot
14.3.2. Overview
14.3.3. Financial Overview
14.3.4. Product Portfolio
14.3.5. Key Developments
14.3.6. Strategies
14.4. Amerapex Corporation
14.4.1. Company Snapshot
14.4.2. Overview
14.4.3. Financial Overview
14.4.4. Product Portfolio
14.4.5. Key Developments
14.4.6. Strategies
14.5. Ndt Systems Inc.
14.5.1. Company Snapshot
14.5.2. Overview
14.5.3. Financial Overview
14.5.4. Product Portfolio
14.5.5. Key Developments
14.5.6. Strategies
14.6. LLC (a GE company)
14.6.1. Company Snapshot
14.6.2. Overview
14.6.3. Financial Overview
14.6.4. Product Portfolio
14.6.5. Key Developments
14.6.6. Strategies
14.7. TecScan System Inc.
14.7.1. Company Snapshot
14.7.2. Overview
14.7.3. Financial Overview
14.7.4. Product Portfolio
14.7.5. Key Developments
14.7.6. Strategies
14.8. Ametek, Inc.
14.8.1. Company Snapshot
14.8.2. Overview
14.8.3. Financial Overview
14.8.4. Product Portfolio
14.8.5. Key Developments
14.8.6. Strategies
14.9. Zeal International
14.9.1. Company Snapshot
14.9.2. Overview
14.9.3. Financial Overview
14.9.4. Product Portfolio
14.9.5. Key Developments
14.9.6. Strategies
14.10. Eddyfi NDT Inc.
14.10.1. Company Snapshot
14.10.2. Overview
14.10.3. Financial Overview
14.10.4. Product Portfolio
14.10.5. Key Developments
14.10.6. Strategies
14.11. Others
14.11.1. Company Snapshot
14.11.2. Overview
14.11.3. Financial Overview
14.11.4. Product Portfolio
14.11.5. Key Developments
14.11.6. Strategies

CHAPTER 15. RESEARCH APPROACH

15.1. Research Methodology
15.1.1. Initial Data Search
15.1.2. Secondary Research
15.1.3. Primary Research
15.2. Assumptions and Scope

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