Ultrasonic Testing Equipment Market is anticipated to reach value of US$ 1,868.3 Mn by 2027 from US$ 955.9 Mn in 2017

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According to a new market research report titled ‘Ultrasonic Testing Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ published by Transparency Market Research , the global ultrasonic testing equipment market is expected to reach value of US$ 1,868.3 Mn by 2027, expanding at a CAGR of 7.8% from 2019 to 2027. According to the report, the global market is expected to be influenced by continuously rising demand for ultrasonic test equipment for use in the inspection of pipelines in the oil & gas industry during the forecast period.
Similarly, other industries, such as power generation, aerospace & defense, automotive, manufacturing, construction, and medical, are also influenced by increased adoption of the ultrasonic testing technology to detect flaws, cracks, voids, and discontinuity in the product or material. This increased adoption of ultrasonic testing can directly augment the ultrasonic testing equipment market. In terms of demand, North America is projected to lead the global market for ultrasonic testing equipment, with the market in the region expanding at a CAGR of 7.8% between 2019 and 2027.
ultrasonic testing equipment market

Rising demand for weld technology for use in oil and gas pipelines
The global ultrasonic testing equipment market is projected to expand at a significant rate during the forecast period, due to increasing demand for use of the weld technology in oil and gas pipelines. At the global level, oil and gases are primarily transported by four mediums: rail, trucks, boats, and pipelines. Among these, 100% of natural gas is transported by pipelines, owing to difficulty in and the cost of transforming natural gas into liquid form.
Also, 70% of crude oil and petroleum products are shipped by pipelines in the U.S. Demand for safe transportation of these explosive gases leads to high demand for ultrasonic testing of the weld technology for pipelines. For this testing, various ultrasonic testing equipment are used across the globe. Apart from the oil & gas industry, ultrasonic testing equipment are increasingly being used in various sectors, such as aerospace & defense, automotive, medical, and construction, in order to identify faults, if any, in the manufacture of components.

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