Acoustic Emission Testing Market by Equipment (Sensors, Amplifiers, Detection Instruments), Service (Inspection, Calibration), Application (Storage Tank, Pipeline, Aging Aircraft, Structural Monitoring, Turbine), and Geography - Global Forecast to 2023
The acoustic emission testing market is expected to be valued at USD 349.9 million by 2023, from USD 226.6 million in 2017, at a CAGR of 7.32% between 2018 and 2023. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.
Study Objectives
- To define, describe, and forecast the global acoustic emission testing market, in terms of value, segmented on the basis of equipment, service, application, and geography
- To forecast the market size, in terms of value, for the concerned segments with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To strategically analyze the micromarkets with regard to the individual growth trends, prospects, and contributions to the market
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
- To analyze opportunities in the market for stakeholders and details of the competitive landscape for the market leaders
- To provide a detailed overview of the acoustic emission testing value chain
- To analyze competitive developments such as partnerships, acquisitions, expansions, agreements, collaborations, contracts, and product launches, along with research and development (R&D), in the market
- To strategically profile the key players of the market and comprehensively analyze their market share and core competencies
Research Methodology
This acoustic emission testing research involves the use of secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the extensive technical, market-oriented, and commercial study of the acoustic emission testing market. Primary sources mainly comprise several industry experts from core and related industries, along with preferred suppliers, manufacturers, distributors, service providers, reimbursement providers, technology developers, alliances, standards, and certification organizations related to various parts of the value chain of the industry. In-depth interviews with various primary respondents, such as key industry participants, subject matter experts (SMEs), C-level executives of key players, and industry consultants, have been conducted to obtain and verify critical qualitative and quantitative information, as well as assess prospects. The breakdown of the profiles of primaries has been depicted in the figure below:
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In 2017, the acoustic emission testing market was dominated by TUV Rheinland (Germany), MISTRAS (US), TUV Nord (Germany), Parker Hannifin (US), TUV Austria (Austria), General Electric (GE, US), Acoustic Emission Consulting (AEC, US), Vallen Systeme (Germany), KRN Services (US), and Score Atlanta (US).
Key Target Audience in Acoustic Emission Testing Market
- Original equipment manufacturers (OEMs)
- Semiconductor component manufacturers and distributors
- Acoustic emission equipment distributors and suppliers
- Suppliers of related accessories for acoustic emission testing equipment
- Acoustic emission testing service providers
- Research organizations and consulting companies
- Government bodies such as regulatory authorities and policy-makers
- Venture capitalists and private equity firms
- Associations, organizations, and alliances related to acoustic emission testing
Acoustic Emission Testing Market Report Scope
The report categorizes the acoustic emission testing market into the following segments:
Acoustic Emission Testing Market, by Equipment
- Sensors
- Amplifiers
- Detection Instruments
- Calibrators
- Others (Cables, Terminal Blocks, and Connectors)
Acoustic Emission Testing Market, by Service
- Inspection
- Calibration
Acoustic Emission Testing Market, by Application
- Storage tank
- Pipeline
- Aging Aircraft
- Turbine
-
Structural monitoring
- Pressure Vessels
- Bridges
- Concrete Beams
- Others (Tunnels, Dams, and Buildings)
- Nuclear Tank
- Marine
- Tube Trailer
- Advanced Material
Acoustic Emission Testing Market, by Geography
-
North America
- US
- Canada
- Mexico
-
Europe
- UK
- France
- Germany
- Italy
- Austria
- Switzerland
- Rest of Europe
-
APAC
- China
- India
- Malaysia & Singapore
- Rest of APAC
-
RoW
- Middle East
- Africa
- South America
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Acoustic Emission Testing Market Analysis
- Further breakdown of the market on the basis of regions into various countries
Company Information
- Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain
The acoustic emission testing market is expected to be valued at USD 349.9 Million by 2023, from USD 245.8 Million in 2018, at a CAGR of 7.32% between 2018 and 2023. Increasing need for asset health monitoring, government initiatives for the implementation of NDT solutions, and growing safety concerns to enhance productivity are driving the growth of this market. AET is used to assess asset integrity, performance, and productivity by identifying the various possible damages.
This report segments the acoustic emission testing market on the basis of equipment, services, applications, and regions. Sensors held the largest share of the market in 2017. Sensors are an important part of acoustic emission measurement chain as they provide information related to physical aspects, which is necessary to monitor the behavior of structures or equipment.
The acoustic emission testing market for inspection services is expected to grow at a higher CAGR during the forecast period. The defect detection process can be carried out during manufacturing using acoustic emission testing inspection services, instead of wasting time and money on further processing of faulty materials; it also helps in maintaining the uniform standard and quality of a product. Inspection services are useful for fixing up the defective components at the initial stage.
Storage tank held the largest share of the acoustic emission testing market in 2017. The growth of the market for storage tanks can be attributed to the real-time monitoring solution provided by AET for detecting flaws in tanks without halting the operation and evacuating the product. In storage tanks, AET detects flaws or leakages at an early stage and thus helps in reducing the subsequent environmental damage.
Acoustic Emission Monitor Market Insights and Growth Prospects
The acoustic emission monitor market is growing steadily, driven by the increasing need for real-time monitoring and safety measures in industries such as oil and gas, aerospace, and power generation. Acoustic emission testing is essential for detecting early signs of material degradation or damage in structures, offering early warnings that prevent catastrophic failures. Major players in the market, such as MISTRAS Group Inc., are enhancing their portfolios with advanced technologies like multichannel systems, online monitoring systems, and portable units. These solutions cater to critical applications like pipeline monitoring, turbine inspection, and aging aircraft safety.
The acoustic emission testing market in APAC is expected to grow at the highest CAGR during the forecast period. The growth of the AET market in APAC can be attributed to infrastructural developments and manufacturing of defense aircraft. Improvements in terms of economic growth, infrastructural developments, and the construction of power plants boost the market in APAC.
High system cost and lack of skilled workforce are inhibiting the growth of the acoustic emission testing market. The cost involved in AET includes the cost of hardware, software, and services, which depends mainly on the complexity of structures and construction cost. Highly complex structures require more instrumentation, which increases the overall cost. AET equipment requires a high level of technical know-how; it largely depends on a particular vertical and the type of flaws and errors being detected in the machinery.
The key players in the acoustic emission testing market include TUV Rheinland (Germany), MISTRAS (US), TUV Nord (Germany), Parker Hannifin (US), TUV Austria (Austria), General Electric (GE, US), Acoustic Emission Consulting (AEC, US), Vallen Systeme (Germany), KRN Services (US), and Score Atlanta (US). These players have adopted strategies such as partnerships, acquisitions, agreements, expansions, contracts, product launches, and collaborations to achieve growth in the acoustic emission testing market.
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Table of Contents
1 Introduction (Page No. - 13)
1.1 Study Objectives
1.2 Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for Study
1.4 Currency
1.5 Limitations
1.6 Market Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Major Secondary Sources
2.1.1.2 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
2.3 Market Ranking Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
3 Executive Summary (Page No. - 28)
4 Premium Insights (Page No. - 32)
4.1 Attractive Opportunities in Market
4.2 Market, By Equipment
4.3 Market, By Service and Country
4.4 Market, By Application
4.5 Country-Wise Analysis of Market
5 Market Overview (Page No. - 35)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Safety Concerns to Enhance Productivity
5.2.1.2 Increasing Need for Asset Health Monitoring
5.2.1.3 Government Initiatives for Implementation of Ndt Solutions
5.2.2 Restraints
5.2.2.1 High System Cost
5.2.2.2 Lack of Skilled Workforce
5.2.3 Opportunities
5.2.3.1 Advancements in Acoustic Emission Testing
5.2.3.2 Increasing Demand for Acoustic Emission Testing in Power Generation Industry
5.2.3.3 Critical Need to Inspect Aging Infrastructure
5.2.4 Challenges
5.2.4.1 Fluctuating Oil and Gas Prices
5.3 Acoustic Emission Testing Techniques
5.3.1 Introduction
5.3.2 Multichannel Source Location
5.3.3 Computed Source Location
5.3.4 Zone Location and Guard Techniques
6 Industry Trends (Page No. - 41)
6.1 Introduction
6.2 Value Chain Analysis
6.3 Emerging Trends: Acoustic Emission Testing Equipment Industry
6.3.1 Development of New Materials to Refurbish the Market
6.3.2 Increased Customer Expectations From AET Equipment Manufacturers
6.4 Regulations and Standards Related to Ndt
6.5 Leading Associations for AET
6.5.1 American Society for Nondestructive Testing (ASNT)
6.5.2 British Institute of Non-Destructive Testing (BINDT)
7 Acoustic Emission Testing Market Analysis, By Equipment (Page No. - 48)
7.1 Introduction
7.2 Sensors
7.3 Amplifiers
7.4 Detection Instruments
7.5 Calibrators
7.6 Others
8 Acoustic Emission Testing Market Analysis, By Service (Page No. - 57)
8.1 Introduction
8.2 Inspection
8.3 Calibration
9 Market Analysis, By Application (Page No. - 62)
9.1 Introduction
9.2 Storage Tank
9.3 Pipeline
9.4 Aging Aircraft
9.5 Turbine
9.6 Structural Monitoring
9.6.1 Pressure Vessels
9.6.2 Bridges
9.6.3 Concrete Beams
9.6.4 Others
9.7 Nuclear Tank
9.8 Marine
9.9 Tube Trailer
9.10 Advanced Material
10 Market Analysis, By Geography (Page No. - 80)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Austria
10.3.6 Switzerland
10.3.7 Rest of Europe
10.4 APAC
10.4.1 China
10.4.2 India
10.4.3 Malaysia & Singapore
10.4.4 Rest of APAC
10.5 RoW
10.5.1 Middle East
10.5.2 Africa
10.5.3 South America
11 Competitive Landscape (Page No. - 101)
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 Partnerships, Acquisitions, and Agreements
11.3.2 Expansions and Contracts
11.3.3 Product Launches and Collaborations
12 Company Profile (Page No. - 106)
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
12.1 TUV Rheinland
12.2 TUV Austria
12.3 TUV Nord
12.4 Mistras
12.5 General Electric
12.6 Parker Hannifin
12.7 Acoustic Emission Consulting
12.8 Vallen Systeme
12.9 KRN Services
12.10 Score Atlanta
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 127)
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3 Introducing RT: Real-Time Market Intelligence
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (66 Tables)
Table 1 Acoustic Emission Testing Market, By Equipment, 2015–2023 (USD Million)
Table 2 Market for Sensors, By Application, 2015–2023 (USD Thousand)
Table 3 Market for Sensors, By Region, 2015–2023 (USD Thousand)
Table 4 Market for Amplifiers, By Application, 2015–2023 (USD Thousand)
Table 5 Market for Amplifiers, By Region, 2015–2023 (USD Thousand)
Table 6 Market for Detection Instruments, By Application, 2015–2023 (USD Thousand)
Table 7 Market for Detection Instruments, By Region, 2015–2023 (USD Thousand)
Table 8 Market for Calibrators, By Application, 2015–2023 (USD Thousand)
Table 9 Market for Calibrators, By Region, 2015–2023 (USD Thousand)
Table 10 Market for Others, By Application, 2015–2023 (USD Thousand)
Table 11 Market for Others, By Region, 2015–2023 (USD Thousand)
Table 12 Market, By Service, 2015–2023 (USD Million)
Table 13 Market for Inspection Services, By Application, 2015–2023 (USD Thousand)
Table 14 Market for Inspection Services, By Region, 2015–2023 (USD Million)
Table 15 Market for Calibration Services, By Application, 2015–2023 (USD Thousand)
Table 16 Market for Calibration Services, By Region, 2015–2023 (USD Million)
Table 17 Market, By Application, 2015–2023 (USD Million)
Table 18 Market for Storage Tank, By Equipment, 2015–2023 (USD Thousand)
Table 19 Market for Storage Tank, By Service, 2015–2023 (USD Million)
Table 20 Market for Storage Tank, By Region, 2015–2023 (USD Thousand)
Table 21 Market for Pipeline, By Equipment, 2015–2023 (USD Thousand)
Table 22 Market for Pipeline, By Service, 2015–2023 (USD Million)
Table 23 Market for Pipeline, By Region, 2015–2023 (USD Thousand)
Table 24 Market for Aging Aircraft, By Equipment, 2015–2023 (USD Thousand)
Table 25 Market for Aging Aircraft, By Service, 2015–2023 (USD Million)
Table 26 Market for Aging Aircraft, By Region, 2015–2023 (USD Thousand)
Table 27 Market for Turbine, By Equipment, 2015–2023 (USD Thousand)
Table 28 Market for Turbine, By Service, 2015–2023 (USD Million)
Table 29 Market for Turbine, By Region, 2015–2023 (USD Thousand)
Table 30 Market for Structural Monitoring, By Type, 2015–2023 (USD Million)
Table 31 Market for Structural Monitoring, By Equipment, 2015–2023 (USD Thousand)
Table 32 Market for Structural Monitoring, By Service, 2015–2023 (USD Million)
Table 33 Market for Structural Monitoring, By Region, 2015–2023 (USD Thousand)
Table 34 Market for Nuclear Tank, By Equipment, 2015–2023 (USD Thousand)
Table 35 Market for Nuclear Tank, By Service, 2015–2023 (USD Million)
Table 36 Market for Nuclear Tank, By Region, 2015–2023 (USD Thousand)
Table 37 Market for Marine, By Equipment, 2015–2023 (USD Thousand)
Table 38 Market for Marine, By Service, 2015–2023 (USD Million)
Table 39 Market for Marine, By Region, 2015–2023 (USD Thousand)
Table 40 Market for Tube Trailer, By Equipment, 2015–2023 (USD Thousand)
Table 41 Market for Tube Trailer, By Service, 2015–2023 (USD Million)
Table 42 Market for Tube Trailer, By Region, 2015–2023 (USD Thousand)
Table 43 Market for Advanced Material, By Equipment, 2015–2023 (USD Thousand)
Table 44 Market for Advanced Material, By Service, 2015–2023 (USD Million)
Table 45 Market for Advanced Material, By Region, 2015–2023 (USD Thousand)
Table 46 Market, By Region, 2015–2023 (USD Million)
Table 47 Market in North America, By Equipment, 2015–2023 (USD Thousand)
Table 48 Market in North America, By Service, 2015–2023 (USD Million)
Table 49 Market in North America, By Application, 2015–2023 (USD Thousand)
Table 50 Market in North America, By Country, 2015–2023 (USD Million)
Table 51 Market in Europe, By Equipment, 2015–2023 (USD Thousand)
Table 52 Market in Europe, By Service, 2015–2023 (USD Million)
Table 53 Market in Europe, By Application, 2015–2023 (USD Thousand)
Table 54 Market in Europe, By Country, 2015–2023 (USD Million)
Table 55 Market in APAC, By Equipment, 2015–2023 (USD Thousand)
Table 56 Market in APAC, By Service, 2015–2023 (USD Million)
Table 57 Market in APAC, By Application, 2015–2023 (USD Thousand)
Table 58 Market in APAC, By Country, 2015–2023 (USD Million)
Table 59 Market in RoW, By Equipment, 2015–2023 (USD Thousand)
Table 60 Market in RoW, By Service, 2015–2023 (USD Million)
Table 61 Market in RoW, By Application, 2015–2023 (USD Thousand)
Table 62 Acoustic Emission Testing in RoW, By Region, 2015–2023 (USD Million)
Table 63 Top 5 Players in Market (2017)
Table 64 Recent Partnerships, Acquisitions, and Agreements in Market
Table 65 Recent Expansions and Contracts in Market
Table 66 Recent Product Launches and Collaborations in Market
List of Figures (34 Figures)
Figure 1 Market: Research Design
Figure 2 Process Flow
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Assumptions for Research Study
Figure 7 Market for Sensors to Grow at Highest CAGR Between 2018 and 2023
Figure 8 Inspection Services to Hold Larger Share of Market Between 2018 and 2023
Figure 9 Market for Structural Monitoring to Grow at Highest CAGR Between 2018 and 2023
Figure 10 North America to Hold Largest Share of Market in 2018
Figure 11 Rising Infrastructural Developments Globally Driving Market
Figure 12 Sensors to Dominate Market During Forecast Period
Figure 13 US Held Largest Share of Market in North America in 2017
Figure 14 Market for Structural Monitoring to Grow at Highest CAGR During Forecast Period
Figure 15 Market in Mexico to Grow at Highest CAGR During Forecast Period
Figure 16 Increasing Need for Asset Or Machinery Health Monitoring Drives Market
Figure 17 Value Chain Analysis: Major Value Added During Raw Material Suppliers and Oems Phases of Market
Figure 18 Market for Sensors to Grow at Highest CAGR Between 2018 and 2023
Figure 19 Market for Inspection Services to Grow at Higher CAGR Between 2018 and 2023
Figure 20 Market for Structural Monitoring to Grow at Highest CAGR Between 2018 and 2023
Figure 21 Market for Bridges to Grow at Highest CAGR Between 2018 and 2023
Figure 22 Market: Geographic Snapshot
Figure 23 Overview of AET Market in North America
Figure 24 Overview of AET Market in Europe
Figure 25 Overview of AET Market in APAC
Figure 26 Overview of AET Market in RoW
Figure 27 Key Growth Strategies Adopted By Top Companies Between January 2015 and September 2017
Figure 28 Partnerships, Acquisitions, and Agreements – Key Strategies Adopted By Players Between January 2015 and September 2017
Figure 29 TUV Rheinland: Company Snapshot
Figure 30 TUV Austria: Company Snapshot
Figure 31 TUV Nord: Company Snapshot
Figure 32 Mistras: Company Snapshot
Figure 33 General Electric: Company Snapshot
Figure 34 Parker Hannifin: Company Snapshot
Growth opportunities and latent adjacency in Acoustic Emission Testing Market
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