Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Ultrasonic Testing Market size was valued at USD 3.32 billion in 2024 and is expected to reach USD 8.1 billion by 2037, registering around 7.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ultrasonic testing is assessed at USD 3.71 billion.
There has been an increased usage of ultrasonic testing in the engineering industries to evaluate the properties of equipment, structures, components, and materials to prevent damage issues. Hence, the evaluation and analysis of the products in the end-user sector to reduce defects are driving market expansion.
Ultrasonic testing has various advantages, including the capacity to identify interior effects and the absence of radiation. This type of ultrasonic testing can also be utilized for evaluation or flaw discovery, high-speed rotating engine parts, material thickness, and dimensional measurement. The demand for quality control tools in the manufacturing industry to detect substance faults at an early stage to produce a finished product with better output is surging the demand for ultrasonic testing.
Ultrasonic Testing Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Number of Industries across the World with Rapid Urbanization – The increasing number of industries globally owing to strong demand from consumers is propelling the market growth. The market size expansion holds a significant share owing to the demand for monitoring, diagnosis, and detection of conditions of industrial assets.
- Rise in the Construction Sector with Huge Infrastructure Development – The development of military, aerospace, and marine industries is anticipated to hike the construction sector which in turn propels the market growth. Moreover, an increase in residential, commercial, and public buildings is set to drive the market demand. The construction sector accounts for over 4% of the U.S. GDP as of 2022 and more than 1,400,000 new houses are constructed in the year 2023 with a rise of 12% from the base of 2022.
- Government Policies to Enhance the Safety of the Public and Product Quality – The demand for safety checks in industries such as aircraft, roads, and highways to prevent unexpected accidents is positively impacting the market demand in the coming years.
Challenges
- Increased Price of Ultrasonic Equipment – The rising cost of machinery, equipment, and instruments of the ultrasonic method owing to the presence of many sensors, highly expensive parts, and components is estimated to hamper the market expansion. The increasing automation technology in ultrasonic testing to monitor defects is hindering the market size. The development of new methods such as nanorobots that are built to inspect the faults in miniature pipelines of oil and gas sectors is limiting the market expansion.
- Decrease in the Oil and Exploration Activities
- Absence of Skilled and Experienced Professionals to Run Ultrasonic Testing Activities
Ultrasonic Testing Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.1% |
|
Base Year Market Size (2024) |
USD 3.32 billion |
|
Forecast Year Market Size (2037) |
USD 8.1 billion |
|
Regional Scope |
|
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Customize this ReportUltrasonic Testing Industry- Regional Synopsis
North American Market Forecast
North America industry is predicted to dominate majority revenue share of 30% by 2037, owing to increasing welding works in the region with the development of infrastructure. The hike in the market growth is accounted for by the expansion of the aviation sector with growing tourists and migration of people for jobs, education, and other business purposes. The aviation of U.S. each day operates more than 20,000 flights with over 2 million passengers across 80 countries and over 60,000 tons of cargo across about 200 countries.
APAC Market Statistics
Asia Pacific ultrasonic testing market is estimated to register a noteworthy market size with market revenue of about 26% through 2037. The rising railway infrastructure development with the expansion of the railway sector is estimated to hike the growth of the market. The increase in the need for tracking the faults, and uneven structures to prevent the destruction of rail accidents in the region is driving the market growth. The growing use of ultrasonic testing for industrial assets and public infrastructures is expected to rise the market demand.
Top Featured Companies Dominating the Ultrasonic Testing Landscape
- Baker Hughes
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Olympus Corporation
- MISTRAS Group
- Eddyfi/NDT
- T.D. Williamson Inc.
- Bosello High Technology Srl.
- Cygnus Instruments Ltd.
- NDT Global GmbH
- LynX Inspection
Fischer Technology Inc.
In the News
- Baker Hughes declared the order of liquified natural gas from the company QatarEnergy to deliver two main refrigerant compressors for the North Field South project. The project is estimated to enhance the production capacity of Qatar’s LNG unit from 110 million tons to 126 million tons by the end of 2027. The order includes main refrigerant compressors with six gas turbines and twelve centrifugal compressors.
- Eddyfi/NDT announced that finished the transaction to acquire Zetec, Inc. Zetec was promoted by the Eddyfi company to develop the brand in prominent sectors such as power generation, aerospace, defense, rail, and manufacturing. The inclusion of the Zetec company enhances the experience and expands the market benefiting the business by doubling the sales increasing providing new prospects.
Author Credits: Abhishek Verma
- Report ID: 5020
- Published Date: Dec 20, 2024
- Report Format: PDF, PPT
