Global Acoustic Emission Testing Market -Industry Trends and Forecast to 2025

Market Analysis: Global Acoustic Emission Testing Market

The Global Acoustic Emission Testing Market accounted for USD 227.1 billion in 2017 and is projected to grow at a CAGR of 7.5% the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Market Definition: Global Acoustic Emission Testing Market

Acoustic emission is a procedure that is being used increasingly in the field of structural integrity assessment using fracture mechanics. The ability of acoustic emission (AE) is to recognize, with high affectability, the mechanical energy discharged by steam flow, which might be utilized to get data about growth and new development, capturing of defects and their dynamic conduct, amidst the principal hydro-test and later requalification testing of atomic parts and consistent checking of intensity plant activity. In recent years, many AE processes such as deformation, slow crack growth, fatigue processes, 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 AE.

Market Drivers and Restraints:

Growing safety concerns to enhance productivity.
Increasing need for asset health monitoring.
Government initiatives for implementation.
High system cost.
Lack of skilled labor.

Market Segmentation: Global Acoustic Emission Testing Market

The global acoustic emission testing market can be segmented in equipment, service, application and geographical segments.
Based on equipment, the market can be segmented into sensors, amplifiers, detection instruments calibrators and others (cables, terminal blocks, and connectors).
Based on service, the market can be segmented into inspection and calibration.
Based on application, the market can be segmented into storage tank, pipeline, aging aircraft, turbine, structural monitoring, nuclear tank, marine, tube trailer and advanced material. Structural monitoring can be further sub segmented into pressure vessels and bridges, concrete beams, others (tunnels, dams, and buildings).
Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and Brazil among others.

Competitive Analysis: Global Acoustic Emission Testing Market

The global acoustic emission testing market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of fiber optics component market for global, Europe, North America, Asia Pacific and South America.

Key Players: Global Acoustic Emission Testing Market

The renowned players in acoustic emission testing market are Olympus Corporation, MISTRAS Group, Inc., SGS SA, General Electric, X-R-I Testing, Applus+, Arcadia Aerospace, Exova Group Limited, Acuren, COMET, Ashtead Technology, Eddyfi, Inc., Sonatest and NDTS India (p) Ltd., among others.

Research Methodology: Global Acoustic Emission Testing Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Acoustic Emission Testing Market -Industry Trends and Forecast to 2025