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Ultrasound Testing Equipment Market By Type (Time-of-flight Diffraction, Phased Array Techniques, Ultrasonic Immersion Testing, Guided Wave Ultrasonic, and Others), Component Type (Hardware and Services), Technique (Volumetric Examination, Surface Examination, and others), Product Type (Thickness Gauges, Digital Flaw Detectors, Thickness Gauges, Ultrasonic Scanner, Bond Tester, and Others), and Industry Vertical (Automotive, Oil & Gas, Mining, Aerospace & Defense, Transportation, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Ultrasound Testing Equipment Market Outlook - 2027

Ultrasonic testing equipment is a type of inspection device that uses high frequency sound energy ranging around 500Khz–20MHz to detect thickness or internal structure of a test piece without harming the material. This non-destructive testing equipment is used to detect cracks or discontinuity in sample material by analyzing capture and quantification of high-frequency sound waves after reflection. 

Ultrasonic testing equipment are used in large scale in energy and power industries for internal, hidden flaw detection of high-speed rotating engine parts as it offers high sensitivity as well as high penetrating power. This testing equipment can be used in accurate inspection of thick walls, cracks in pipelines, storage vessels in harsh operating environment as it is safe, less time consuming, user-friendly along with less ownership cost, and better detection capabilities. These highly automated, small, portable, microprocessor-based devices provide reliable, immediate, highly accurate results by estimating size, orientation, nature of defects, which enhances product quality standards in the market. Improvements in structural integrity incorporated by huge, top notch touchscreen with equipment are anticipated to boost the ultrasound testing equipment market growth.

Market Scope and Structure Analysis:

                Report Metric

                                            Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast Period

  2021–2027

  Forecast Unit

  Value ($)

  Segments Covered

Type, Component Type, Technique, Product Type, Industry Vertical, and Region

  Region Covered

North America ( the U.S., Canada), Europe (Germany, the UK, France, Russia, and rest of Europe), Asia Pacific (India, Japan, and rest of Asia Pacific) and LAMEA (Latin America, the Middle East, and Africa)

  Companies Covered

Olympus Corp., Ashtead Technology, Mistras Group Inc., Sonatest Ltd., TecScan System Inc., Zeal International, Ametek Inc., Ndt Systems Inc., Amerapex Corp. and Cygnus Instruments Inc.

 

COVID-19 SCENARIO ANALYSIS:

  • The COVID-19, now a global pandemic, has caused a negative impact on the economy as nations worldwide have shutdown all non-essential business. On the contrary use of ultrasound testing equipment that falls between essential and non-essential equipment are experiencing, exceptionally high demand in the healthcare sector for triage, monitoring, and diagnosis of COVID-19 patients.
  • Existing installed base of ultrasound systems is being deployed in ICUs for continuous monitoring of COVID-19 infected patients to frequently being used to image organs such as heart, lungs, liver, and kidneys. In April 2020, IEEE spectrum, flagship magazine devoted to engineering and applied sciences, reported that hospitals are relying on lung ultrasound to admit to hospital emergency room, or ICUs. Companies such as Philips, Siemens, Canon, and Butterfly Network Inc. are receiving huge orders of this inexpensive handheld ultrasound device from healthcare units.
  • There is high demand of ultrasound devices in point-of-care (POC) and primary care systems, however, supply of equipment would be limited to meet the needs. The presence of COVID-19 on patient population has resulted in shutdown of vast portion of global economy, limited raw materials, and workforce accompanied by slowed or stopped manufacturing.
  • In April 2020, Omnia Health, the global medical directory, reported that low cost of POC and primary care systems comprise only 11% of overall ultrasound testing equipment revenues and the remaining 89% is still at a struggling stage experiencing low demand. This is anticipated to result in short-term decline of the ultrasound market. 

Top Impacting Factors: Market Scenario Analysis, Trends, Driver, and Impact analysis

Surge in necessity to detect leaks or mid-wall anomalies in energy production infrastructure such as pipelines, boilers, turbines to generate system reliability under harsh operating environments and increasing natural gas exploration are primary factors propelling ultrasound testing equipment market share. However, lack of skilled workforce to handle this non-destructive testing method and lack of discontinuity detection in non-homogeneous and irregular shapes hamper the overall ultrasound testing equipment market growth.

On the contrary, phased array ultrasonic testing equipment by emitting computer-controlled ultrasonic waves at different angles can inspect complex geometries such as muscles, joints, vessels and internal subcutaneous body structures for diagnostic sonography in the healthcare sector. Technological advancements allowing digital storage of data and high investments in this non-destructive testing method is anticipated to boost revenue and present new pathways to ultrasonic testing equipment industry.

New product launches to flourish the market:

Leading market players have adopted necessary steps to integrate breakthroughs in deep learning into the world of image detection, characterization, staging, and treatment.

In April 2020, Olympus Corporation, Japanese manufacturer of optics and reprography products, launched the new EVIS X1, an advanced endoscopy system with a view to enhance outcome from disorders of stomach, colon and esophagus. It can detect and prevent gastro-intestinal disorders such as colorectal cancer through features such as Extended Depth of Field (EDOF), Red Dichromatic Imaging (RDI), Texture and Colour Enhancement Imaging (TXI) as well as Narrow Band Imaging (NBI). In addition, EVIS X1 features Artificial Intelligence (AI) and offers endoscopists a range of innovative tools to carry out minimally invasive, precise and effective procedures.

Surge in use in industrial and automotive application

Ultrasonic testing equipment are widely used for non-destructive testing on common engineering materials such as metals, plastics, composites, and ceramics to characterize the internal structure of the test piece. By analyzing the reflection of high frequency sound waves this equipment detects hidden internal flaws such as leakage, porosity cracking and detect quality of pipelines, compressors or other critical parts among industrial applications.

In May 2020, Sonotec Ultrasonic Solutions, launched the SEMIFLOW EX1 set, a new product category of intrinsically safe ultrasonic flow sensors with control gear for non-contact liquid flow measurement on small and medium rigid plastic tubes. This device is incorporated with SEMIFLOW CO.66 PI Ex1 sensors that are protected against explosion hazard by fluids (gas, vapor, and liquids), which ensures safe operation in hazardous environment. Barrier Box ST Ex1 limits the energy supplied to the ultrasonic device to avoid ignition. This equipment is safe to be used in explosive gas atmosphere such as in oil and gas industries as well as provides necessary power and data interfaces to operators outside Ex-Zone. 0

Key segments covered:

              Segments

                                           Subsegments

  Type

  • Time-of-flight Diffraction
  •  Phased Array Techniques
  •  Ultrasonic Immersion Testing
  •  Guided Wave Ultrasonic
  • Others

  Component Type

  • Hardware
  • Service

  Technique

  • Volumetric Examination
  •  Surface Examination
  •  Others

  Product Type

  • Thickness Gauges
  • Digital Flaw Detectors
  •  Thickness gauges
  •  Ultrasonic Scanner
  •  Bond Tester
  •  Others

  Industry Vertical

  • Automotive
  • Oil and Gas
  •  Mining
  •  Aerospace and Defense
  •  Transportation
  •  Construction
  •  Others

 

Key benefits of the stakeholders:

  • The study gives an analytical overview of ultrasound testing equipment market forecast with current trends and future estimations to determine imminent investment pockets.
  • The report provides information related to key drivers, restraints, and opportunities along with detailed overall ultrasound testing equipment market analysis.
  • The current ultrasound testing equipment market trends are quantitatively analyzed from 2021 to 2027.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

Questions answered in the ultrasound testing equipment market research report:

  • Who are the leading players in the ultrasound testing equipment market?
  • What are the current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
  • What would be the detailed impact of COVID-19 on the market?
 
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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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