Acoustic Emission Testing Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2028

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Acoustic Emission Testing Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2018 - 2028

Status : August, 2019 | Semiconductor & Electronics | PPT format

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Acoustic Emission Testing Market – Overview

Acoustic emission testing has been gaining grounds as an effective Non-destructive Technique for the examination of assets and health diagnosis of materials undergoing stress. Applications of acoustic emission testing have been growing for field inspections, tank bottom testing, corrosion detection, production quality control, evaluation of aging aircraft, and the inspection of nuclear components in numerous industries.

The acoustic emission testing market surpassed a value of US$ 230 Mn in 2017 and is estimated to grow at a steady pace. Rising emphasis on the need for effective solutions for the monitoring and inspection of material and infrastructures coupled with mandates legislated by government recommending the use of NDT solutions is likely to create a favorable growth scenario for the acoustic emission testing market. The versatility of the testing technique and aging infrastructure is envisaged to grow manifold, thereby reflecting on the size of the acoustic emission testing market in the upcoming years.

Acoustic Emission Testing Market – Competitive Landscape

The acoustic emission testing market generates revenue from the significant players functioning in this domain and some of them consist of TUV Rheinland, Score Atlanta, KRN Services, Vallen Systeme, Acoustic Emission Consulting, General Electric, TUV Austria, Parker Hannifin, TUV Nord, MISTRAS, Olympus Corporation, SGS SA, X-R-I Testing, Arcadia Aerospace, Applus+, Exova Group Limited, COMET, Acuren, Ashtead Technology, Sonatest, Eddyfi, Inc., and NDTS India (p) Ltd.

  • In July 2018, a leading German company TUV Rheinland announced the expansion of its testing services in Gurugram, India. The installation of the softlines testing facility will offer abundant opportunities to the manufacturers and exporters and enable them to develop quality assured products for their consumers.
  • In June 2018, Ashtead Technology teamed up with Cygnus Instruments and Aquatec Group with a future-oriented outlook to strengthen its footprint in non-destructive testing as well as inspection capabilities. The company will now be able to offer NDT services in multiple markets across the world.
  • Recently, Eddyfi Inc. announced the acquisition of a leading NDT Robotics Company Inuktun. The transaction will help in the expansion of the product portfolio and enlargement of the company’s customer base in parallel to broadening the scope of product development and adding skilled NDT inspection experts.

KRN Services

KRN Services was incorporated in 1991 and is based in Michigan. The company works with an objective to offer the best quality equipment that suits the need of the customers. Its offering ranges from resonant sensors with and without preamplifiers, specialty sensors, broadband sensors, to underwater sensors. The company also specializes in the development of custom-made acoustic emission testing equipment to meet the specific requirement of the customers.

NDTS India

NDTS India was founded in 2006 and is headquartered in Mumbai. The company works with an aim to help customers tackle challenges pertaining to Non-destructive testing and evaluation. It is dedicated to meeting the needs of the customers and surpassing their expectations in terms of quality. The offerings of the company range from inspection services, third-party inspection, consulting services, equipment rentals, to training and certification.

Applus+ Laboratories

Applus+ Laboratories was established in 1907 in Barcelona as a testing and research entity. The company boasts its expertise in the development of technical solutions to amplify the competitiveness of the product, fuel innovation, and extend its arms to underpin testing, product development, and quality services along with certification services.

Acoustic Emission Testing Market - Dynamics

Trend of Miniaturization of Acoustic Emission Testing Equipment to Lend Bigger Sales Prospects

Miniaturization trends will continue to cause a significant paradigm shift in the manufacturing of acoustic emission testing equipment. Manufacturers of the equipment realize the benefits of

portable devices such as material reduction, which further reduces the overall production cost. Lesser space requirement to carry inspection activities have been appealing the end-users and in turn, the sales of the acoustic emission testing equipment are on a notable surge. Convergence of artificial intelligence with inspection activities is anticipated to unlock new avenues for the advancement of the acoustic emission testing market.

Sales of Acoustic Emission Testing Equipment Tumble As Installation Cost Surges

End-users of acoustic testing equipment stick to the conventional NDT methods and exhibit a hesitance for adopting acoustic emission testing methods on account of their high installation costs. Acoustic emission testing equipment requires a quiet environment to function and even a little exposure to noise hamper their operation. Additionally, complexity in their functions demand skilled labors and incur large training cost per labor, which has caused a reluctance among the end-users for the adoption of the equipment. Poor quantitative results of the testing method in terms of size and depth of the inspection could affect the desirability of adoption among the end-users, thereby impacting the growth of the acoustic emission testing market.

North America to Hold a Sizeable Share of the Acoustic Emission Testing Market

Rising concerns pertaining to the aging infrastructures in the developed countries and the aftermaths post their collapse have generated a scope for effective asset health management solutions. With the technological advancements and enhanced capabilities of the systems, the modernistic acoustic emission testing equipment is employed for precise inspection of an area. Cost-effectiveness of the technique remains a significant driver augmenting the demand for acoustic emission testing techniques.

Growth of the acoustic emission testing market is likely to remain sustained on account of the favorable government policies and programs creating awareness pertaining to the health check of aging assets, which has bridged the information gap among the end-users of the developed countries. A cohort of these factors holds promising growth prospects for the acoustic emission testing market in North America.

Acoustic Emission Testing Market - Segmentation

The acoustic emission testing market can be divided on the basis of:

  • Equipment
  • Service
  • Application
  • Geography

Acoustic Emission Testing Market Segmentation – By Equipment

Based on the equipment, the acoustic emission testing market can be bifurcated into:

  • Sensors
  • Amplifiers
  • Detection Instruments
  • Calibrators
  • Others

Acoustic Emission Testing Market Segmentation – By Service

Depending on the service, the acoustic emission testing market can be classified into:

  • Inspection
  • Calibration

Acoustic Emission Testing Market Segmentation – By Application

On the basis of the application, the acoustic emission testing market can be fragmented on the basis of:

  • Storage Tank
  • Aging Aircraft
  • Pipeline
  • Turbine
  • Structural Monitoring
    • Concrete Beams
    • Bridges
    • Pressure Vessels
    • Others
  • Marine
  • Nuclear Tank
  • AdvancAdvanced Material
  • Tube Trailer

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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