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The market for Acoustic Emission-based NDT is expected to reach US$1.7 billion by 2028, growing at a CAGR of 8.5% from 2022 to 2028. The growth of this market is attributed to the increasing demand for preventive maintenance and real-time monitoring of infrastructure and machinery to avoid unexpected downtimes and repair costs. Additionally, the adoption of Industry 4.0 technologies, such as the Internet of Things (IoT), artificial intelligence, and machine learning, is expected to propel the growth of this market further.
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Persistence Market Research released new market research on the acoustic emission-based NDT market, which covers the global industry forecast for 2018-2028 and an analysis of 2013-2017. The report explores the global acoustic emission-based NDT market and provides an in-depth analysis for the coming years from 2018 to 2028.
The Acoustic Emission-based Non-Destructive Testing (NDT) Market is experiencing significant growth due to the increasing demand for safe and reliable infrastructure, especially in the oil and gas, aerospace, and defense industries. Acoustic Emission-based NDT technology detects and monitors the emission of stress waves and microcracks that occur in materials, which can indicate potential defects or failures. This technology offers a non-invasive and non-destructive way to evaluate the integrity of structures and components, making it an essential tool for maintaining safety and preventing catastrophic failures.
This research report provides an in-depth analysis of the Acoustic Emission-based NDT market, including market segmentation, key drivers and challenges, competitive landscape, and future opportunities.
Key Companies-
• MISTRAS Group, Inc.
• General Electric
• KRN Services, Inc.
• Score Atlanta
• TÜV Rheinland
• Parker Hannifin Ltd.
• Vallen Systeme GmBH
• Cygnus Instruments
• Cybernetics
• Arudra Engineers Pvt. Ltd.
• SIEVERT - A Bureau Veritas group company
• Beijing Softland Times Scientific & Technology Co. Ltd. and more.
Market Segmentation:
The market for Acoustic Emission-based NDT is segmented by type, application, end-user industry, and geography.
By type, the market is segmented into hardware, software, and services. Hardware holds the largest market share owing to the high demand for sensors, amplifiers, and signal processors. However, the services segment is expected to witness the highest growth rate due to the increasing demand for maintenance, repair, and calibration services.
By application, the market is segmented into structural health monitoring, pressure vessel testing, turbine blade testing, pipeline monitoring, and others. The structural health monitoring segment holds the largest market share due to the high demand for continuous monitoring and maintenance of bridges, buildings, and other critical infrastructure.
By end-user industry, the market is segmented into oil and gas, aerospace and defense, power generation, automotive, and others. The oil and gas industry holds the largest market share, owing to the high demand for preventive maintenance of pipelines and storage tanks to prevent accidents and leaks.
The market is geographically segmented into North America, Europe, Asia Pacific, and the rest of the World. Asia Pacific is expected to witness the highest growth rate due to the increasing demand for infrastructure development and the adoption of Industry 4.0 technologies in countries like China and India.
Key Drivers and Challenges:
The key drivers of the Acoustic Emission-based NDT market include the increasing demand for preventive maintenance, the growing focus on safety and reliability, and the adoption of Industry 4.0 technologies. The market's major challenge is the high equipment cost and the need for skilled professionals to operate and interpret the data.
Future Opportunities:
The Acoustic Emission-based NDT market offers significant growth opportunities in the coming years, owing to the increasing demand for real-time monitoring and predictive maintenance, the adoption of Industry 4.0 technologies, and the need for safe and reliable infrastructure. The development of portable and wireless sensors, the integration of AI and machine learning, and the use of cloud-based platforms are expected to drive the growth of this market.
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