DUBLIN--(BUSINESS WIRE)--The "Global Ultrasonic Testing Equipment Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The ultrasonic testing equipment market will register a CAGR of over 6% by 2023.
The reliability of power generation equipment is essential as the failure of systems might adversely affect the Mole power network infrastructure and pose serious safety risks. Ultrasonic testing is used for inspecting power generation infrastructures such as boilers, turbines, compressors, pipelines, tanks, and storage vessels. Power demand has been growing globally, both as a result of the rising population as well as industrialization.
The power generation industry's landscape is evolving with the introduction of new generation sources from the supply side and the addition of new types of loads from the demand side. These changes have increased the need for periodic maintenance of power generation assets. Ultrasonic testing as opposed to other testing methods can detect finer defects, thereby offering better inspection. Hence, with the rising need for power, both in the residential and industrial sectors, the demand for ultrasonic test equipment is also expected to grow.
Growing demand for ultrasonic testing in pipelines
Pipelines are one of the most important assets of the oil and gas midstream sector, connecting the upstream and downstream part. Their ability to transport high volumes makes them a popular choice for oil and gas transportation. However, pipeline design and maintenance are complex issues as pipelines operate under various operating environments and carry fluids such as crude oil, natural gas, refined products, and liquefied gases. They are highly prone to defects and corrosion as they carry different types of crude oils, which include corrosive fluids.
Surface limitations and need for skilled workforce
Ultrasonic testing is a technology that is gradually finding its use in different industrial applications. However, there are some limitations and drawbacks associated with the use of ultrasonic testing. One of the limitations of ultrasonic testing equipment is its non-suitability for all kinds of surfaces. Complex shapes or thin or irregular surfaces are not suitable for ultrasonic testing. Wood and paper products are not suitable for ultrasonic testing.
Competitive Landscape
The market appears to be moderately concentrated and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
- Eddyfi
- General Electric
- Olympus Corporation
- Sonatest
- SONOTEC Ultraschallsensorik Halle GmbH
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
PART 06: MARKET SEGMENTATION BY END-USER
- Comparison by end-user
- Oil and gas - Market size and forecast 2018-2023
- Power generation - Market size and forecast 2018-2023
- Aerospace & defense - Market size and forecast 2018-2023
- Automotive - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- North America - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- Middle East and Africa - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Eddyfi
- General Electric
- Olympus Corporation
- Sonatest
- SONOTEC Ultraschallsensorik Halle GmbH
For more information about this report visit https://www.researchandmarkets.com/research/v4m3ml/ultrasonic?w=4