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Acoustic Emission Testing Market By Equipment Type (Sensors, Amplifiers, and Detection Instruments), Application (Storage Tank, Pipeline, Aging Aircraft, Structural Monitoring, and Others), Service (Inspection, and Calibration), and Industry Vertical (Chemical & Petrochemical, Oil & Gas, Energy & Power, Automotive, Food & Beverages, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 428 Views
 
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Acoustic Emission Testing Market Outlook – 2027 

The global acoustic emission testing market is experiencing significant growth and is expected to grow considerably in the next few years. Acoustic emission is a procedure, which is being used increasingly in the field of structural integrity assessment using fracture mechanics. 

The ability of acoustic emission (AE) to identify the mechanical energy discharged by steam flow can be utilized to get data about new development and growth for capturing the defects and their dynamic conduct, amidst the principal hydro-test and later consistent checking of intensity plant activity and requalification testing of atomic parts. 

In recent years, many AE processes, such as deformation, fatigue processes, slow crack growth, intergranular stress corrosion cracking, and leak monitoring, have been studied and considerable efforts have been taken in preparing guidelines, recommended practices, and standard procedures based on acoustic emission.

The global acoustic emission testing market is segmented on the basis of equipment type, application, service, industry vertical, and region. Based on equipment type, the acoustic emission testing market is divided into sensors, amplifiers, and detection instruments. In terms of application, the market is categorized into storage tank, pipeline, aging aircraft, structural monitoring, and others. 

On the basis of service, the acoustic emission testing market is bifurcated into inspection, and calibration. In terms of industry vertical, the market is segregated into chemical & petrochemical, oil & gas, energy & power, automotive, food & beverages, healthcare, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global acoustic emission testing industry include Arcadia Aerospace, Exova Group Limited, Acuren, COMET, Ashtead Technology, Eddyfi Inc., Sonatest, NDTS India (P) Ltd., Olympus Corporation, MISTRAS Group Inc., SGS SA, General Electric, X-R-I Testing, and Applus+. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global acoustic emission testing market. 

Top Impacting Factors 

Growing stress on improvement of production quality and the need to increase in productivity are expected to ramp up the market in the forecast period. Different manufacturers are focusing on opting for acoustic emission testing of their materials, which will promote the growth of the market over the forecast period. In addition, the growing awareness toward safety in plants as well as the requirement of asset health monitoring has increased in the past years. 

This trend is expected to continue over the coming years, thereby increasing the demand for acoustic emission testing services. Furthermore, governments of numerous countries are promoting the use of NDT solutions; this is expected to increase the growth of the acoustic emission testing market in the coming years. 

Furthermore, the demand for acoustic emission testing technology is growing significantly in the power generation industry from the past few years. This is expected to create opportunities for further augmentation of the market across the globe. Moreover, significant increase in aging infrastructure is leading to the need and demand for acoustic emission testing services, further fueling the market over the forecast period.

However, the high initial cost of acoustic emission testing system can hamper the market growth. Lack of a skilled workforce to operate the machinery is expected to further disrupt the growth of the market in the coming years.

Increasing Safety Concerns to Enhance Productivity

The health and safety improvements across the workplace can make a significant difference to productivity. Hence, many plant operators are adopting various strategies to increasingly focus on the safety concerns to enhance productivity of workers. Businesses can benefit from health & safety enhancements by implementing them incrementally and with accuracy. These factors fuel the market growth.

Rising Demand in Automotive and Industrial Applications 

Acoustic emission testing is used for the analysis and detection of acoustic signals to gain valuable information regarding discontinuity in material and its origin. Attributing to its versatility, acoustic emission testing has many industrial applications in assessing structural integrity, testing leaks, detecting flaws or monitoring weld quality. 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. Moreover, 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 resulting in growing the operational life of the component.

Key Benefits of the Report

  • This study presents the analytical depiction of the global acoustic emission testing market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global acoustic emission testing market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global acoustic emission testing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed acoustic emission testing market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019–2027

Base Year Considered

2019

Forecast Period

2020–2027

Forecast Unit

Value (USD)

Segments Covered

Equipment Type, Application, Service, Industry Vertical, and Region

Regions Covered

North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM), and Middle East & Africa

Companies Covered

Arcadia Aerospace, Exova Group Limited, Acuren, COMET, Ashtead Technology, Eddyfi Inc., Sonatest, NDTS India (P) Ltd., Olympus Corporation, MISTRAS Group Inc., SGS SA, General Electric, X-R-I Testing, and Applus+

 

COVID-19 Scenario Analysis

  • The global acoustic emission testing market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have slowed down, which have significant demand for system on module (SoM).
  • The global factories are struggling to manufacture as well as assemble new devices as workers have stayed in their homes and the available devices in various warehouses cannot be transported due to current rules & regulations, which disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production & supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase.
  • This is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve current products.

Acoustic Emission Testing Market Key Segments

Segments

Sub-Segments

Equipment Type

  • Sensors
  • Amplifiers
  • Detection Instruments

Application

  • Storage Tank
  • Pipeline
  • Aging Aircraft
  • Structural Monitoring
  • Others

Service

  • Inspection
  • Calibration

Industry Vertical

  • Chemical and Petrochemical
  • Oil and Gas
  • Energy and Power
  • Automotive
  • Food and Beverages
  • Healthcare
  • Others

 

Questions Answered in the Acoustic Emission Testing Market Research Report

  • Which are the leading market players active in the acoustic emission testing market?
  • What would be the detailed impact of COVID-19 on the acoustic emission testing market size?
  • How the current acoustic emission testing market trends that will influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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