by Ultrasonic non-destructive testing equipment are instruments used to evaluate the properties of a material, component or structure without causing damage. Ultrasonic inspection provides real-time monitoring of products without dismantling the actual object. It is ideal for inspecting liquid-filled vessels, thick metal plates and concrete structures for internal defects. Common applications include inspection of aircraft components, turbine blades, pipes, pressure vessels and castings in industries such as oil & gas, aerospace and automotive. The global ultrasonic non-destructive testing equipment market is gaining traction owing to stringent quality control and safety testing regulations across all industrial verticals.
The global ultrasonic non-destructive testing equipment market is estimated to be valued at US$ 818.3 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing Demand from End Use Industries: One of the primary drivers for the growth of the global ultrasonic non-destructive testing equipment market is the increasing demand from industries such as oil & gas, aerospace and automotive. Stringent regulations regarding quality control and safety testing have increased dependency on advanced inspection techniques such as ultrasonic NDT. Especially in oil & gas industry where pipe integrity is crucial, ultrasonic equipment ensure early detection of hairline cracks and defects.
Stringent Quality Regulations: Governments across the world have implemented strict quality standards for critical components and infrastructure to ensure public safety. Regulatory bodies regularly mandate usage of non-destructive techniques for inspection. This is positively impacting the demand for ultrasonic NDT equipment. Innovation in ultrasonic techniques will further help companies comply with regulatory framework efficiently and strengthen overall market dynamics.
Segment Analysis
The global ultrasonic non destructive testing equipment market is segmented based on product type, technique, vertical and region. Based on product type, the market can be bifurcated into flaw detectors, thickness gauges, ultrasonic scanners, and others. Among these, flaw detectors hold a major share owing to their use in detecting flaws, cracks and defects in materials and components. Ultrasonic thickness gauges are also gaining traction due to their ability to accurately measure the wall thickness and corrosion levels of pipes, vessels and plate-like structures in end-use industries.
PEST Analysis
Political: Governments across countries are imposing stringent quality control and safety regulations to ensure product and industrial safety. This is promoting the adoption of advanced NDT equipment for quality inspection.
Economic: The global economy is witnessing gradual recovery. This is increasing manufacturing activities and infrastructure development projects, thereby driving demand for ultrasonic NDT equipment from industries.
Social: Growing awareness about workplace safety and asset integrity management is prompting companies to conduct regular inspection and maintenance using ultrasonic testing techniques.
Technological: Technological advances are leading to the development of automated and portable ultrasonic equipment with high resolution and sensitivity. Equipment with advanced data analytics capabilities are also gaining traction.
Key Takeaways
The Global Ultrasonic Non Destructive Testing Equipment Market Size is expected to witness high growth. The global ultrasonic non-destructive testing equipment market is estimated to be valued at US$ 818.3 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
Regional analysis comprises Asia Pacific dominates the market and is expected to maintain its lead over the forecast period. The region is anticipated to grow at a CAGR of around 8%. China dominates the Asia Pacific market owing to large manufacturing sector and rapidly increasing infrastructure development.
Key players operating in the ultrasonic non destructive testing equipment market are Diageo, William Grant & Sons, Castle Brand, Jameson Irish whiskey, and The Old Bushmills Distillery Co. Key players focus on new product launches and strategic collaborations to strengthen their market position. For instance, in 2022, Diageo partnered with BrewDog to launch a new line of beer and whiskey blends.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
