HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: February 2018
Report Code: SE 6001

 

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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 acoustic emission testing market
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the acoustic emission testing 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 acoustic emission testing market
  • To strategically profile the key players of the acoustic emission testing market and comprehensively analyze their market share and core competencies

Research Methodology

This 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:

Acoustic Emission Testing Market

To know about the assumptions considered for the study, download the pdf brochure

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

  • 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

Scope of the Report

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

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 Acoustic Emission Testing Market
    4.2 Acoustic Emission Testing Market, By Equipment
    4.3 Acoustic Emission Testing Market, By Service and Country
    4.4 Acoustic Emission Testing Market, By Application
    4.5 Country-Wise Analysis of Acoustic Emission Testing 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 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 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 Acoustic Emission Testing 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 Acoustic Emission Testing Market for Sensors, By Application, 2015–2023 (USD Thousand)
Table 3 Acoustic Emission Testing Market for Sensors, By Region, 2015–2023 (USD Thousand)
Table 4 Acoustic Emission Testing Market for Amplifiers, By Application, 2015–2023 (USD Thousand)
Table 5 Acoustic Emission Testing Market for Amplifiers, By Region, 2015–2023 (USD Thousand)
Table 6 Acoustic Emission Testing Market for Detection Instruments, By Application, 2015–2023 (USD Thousand)
Table 7 Acoustic Emission Testing Market for Detection Instruments, By Region, 2015–2023 (USD Thousand)
Table 8 Acoustic Emission Testing Market for Calibrators, By Application, 2015–2023 (USD Thousand)
Table 9 Acoustic Emission Testing Market for Calibrators, By Region, 2015–2023 (USD Thousand)
Table 10 Acoustic Emission Testing Market for Others, By Application, 2015–2023 (USD Thousand)
Table 11 Acoustic Emission Testing Market for Others, By Region, 2015–2023 (USD Thousand)
Table 12 Acoustic Emission Testing Market, By Service, 2015–2023 (USD Million)
Table 13 Acoustic Emission Testing Market for Inspection Services, By Application, 2015–2023 (USD Thousand)
Table 14 Acoustic Emission Testing Market for Inspection Services, By Region, 2015–2023 (USD Million)
Table 15 Acoustic Emission Testing Market for Calibration Services, By Application, 2015–2023 (USD Thousand)
Table 16 Acoustic Emission Testing Market for Calibration Services, By Region, 2015–2023 (USD Million)
Table 17 Acoustic Emission Testing Market, By Application, 2015–2023 (USD Million)
Table 18 Acoustic Emission Testing Market for Storage Tank, By Equipment, 2015–2023 (USD Thousand)
Table 19 Acoustic Emission Testing Market for Storage Tank, By Service, 2015–2023 (USD Million)
Table 20 Acoustic Emission Testing Market for Storage Tank, By Region, 2015–2023 (USD Thousand)
Table 21 Acoustic Emission Testing Market for Pipeline, By Equipment, 2015–2023 (USD Thousand)
Table 22 Acoustic Emission Testing Market for Pipeline, By Service, 2015–2023 (USD Million)
Table 23 Acoustic Emission Testing Market for Pipeline, By Region, 2015–2023 (USD Thousand)
Table 24 Acoustic Emission Testing Market for Aging Aircraft, By Equipment, 2015–2023 (USD Thousand)
Table 25 Acoustic Emission Testing Market for Aging Aircraft, By Service, 2015–2023 (USD Million)
Table 26 Acoustic Emission Testing Market for Aging Aircraft, By Region, 2015–2023 (USD Thousand)
Table 27 Acoustic Emission Testing Market for Turbine, By Equipment, 2015–2023 (USD Thousand)
Table 28 Acoustic Emission Testing Market for Turbine, By Service, 2015–2023 (USD Million)
Table 29 Acoustic Emission Testing Market for Turbine, By Region, 2015–2023 (USD Thousand)
Table 30 Acoustic Emission Testing Market for Structural Monitoring, By Type, 2015–2023 (USD Million)
Table 31 Acoustic Emission Testing Market for Structural Monitoring, By Equipment, 2015–2023 (USD Thousand)
Table 32 Acoustic Emission Testing Market for Structural Monitoring, By Service, 2015–2023 (USD Million)
Table 33 Acoustic Emission Testing Market for Structural Monitoring, By Region, 2015–2023 (USD Thousand)
Table 34 Acoustic Emission Testing Market for Nuclear Tank, By Equipment, 2015–2023 (USD Thousand)
Table 35 Acoustic Emission Testing Market for Nuclear Tank, By Service, 2015–2023 (USD Million)
Table 36 Acoustic Emission Testing Market for Nuclear Tank, By Region, 2015–2023 (USD Thousand)
Table 37 Acoustic Emission Testing Market for Marine, By Equipment, 2015–2023 (USD Thousand)
Table 38 Acoustic Emission Testing Market for Marine, By Service, 2015–2023 (USD Million)
Table 39 Acoustic Emission Testing Market for Marine, By Region, 2015–2023 (USD Thousand)
Table 40 Acoustic Emission Testing Market for Tube Trailer, By Equipment, 2015–2023 (USD Thousand)
Table 41 Acoustic Emission Testing Market for Tube Trailer, By Service, 2015–2023 (USD Million)
Table 42 Acoustic Emission Testing Market for Tube Trailer, By Region, 2015–2023 (USD Thousand)
Table 43 Acoustic Emission Testing Market for Advanced Material, By Equipment, 2015–2023 (USD Thousand)
Table 44 Acoustic Emission Testing Market for Advanced Material, By Service, 2015–2023 (USD Million)
Table 45 Acoustic Emission Testing Market for Advanced Material, By Region, 2015–2023 (USD Thousand)
Table 46 Acoustic Emission Testing Market, By Region, 2015–2023 (USD Million)
Table 47 Acoustic Emission Testing Market in North America, By Equipment, 2015–2023 (USD Thousand)
Table 48 Acoustic Emission Testing Market in North America, By Service, 2015–2023 (USD Million)
Table 49 Acoustic Emission Testing Market in North America, By Application, 2015–2023 (USD Thousand)
Table 50 Acoustic Emission Testing Market in North America, By Country, 2015–2023 (USD Million)
Table 51 Acoustic Emission Testing Market in Europe, By Equipment, 2015–2023 (USD Thousand)
Table 52 Acoustic Emission Testing Market in Europe, By Service, 2015–2023 (USD Million)
Table 53 Acoustic Emission Testing Market in Europe, By Application, 2015–2023 (USD Thousand)
Table 54 Acoustic Emission Testing Market in Europe, By Country, 2015–2023 (USD Million)
Table 55 Acoustic Emission Testing Market in APAC, By Equipment, 2015–2023 (USD Thousand)
Table 56 Acoustic Emission Testing Market in APAC, By Service, 2015–2023 (USD Million)
Table 57 Acoustic Emission Testing Market in APAC, By Application, 2015–2023 (USD Thousand)
Table 58 Acoustic Emission Testing Market in APAC, By Country, 2015–2023 (USD Million)
Table 59 Acoustic Emission Testing Market in RoW, By Equipment, 2015–2023 (USD Thousand)
Table 60 Acoustic Emission Testing Market in RoW, By Service, 2015–2023 (USD Million)
Table 61 Acoustic Emission Testing 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 Acoustic Emission Testing Market (2017)
Table 64 Recent Partnerships, Acquisitions, and Agreements in Acoustic Emission Testing Market
Table 65 Recent Expansions and Contracts in Acoustic Emission Testing Market
Table 66 Recent Product Launches and Collaborations in Acoustic Emission Testing Market


List of Figures (34 Figures)

Figure 1 Acoustic Emission Testing 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 Acoustic Emission Testing Market for Sensors to Grow at Highest CAGR Between 2018 and 2023
Figure 8 Inspection Services to Hold Larger Share of Acoustic Emission Testing Market Between 2018 and 2023
Figure 9 Acoustic Emission Testing Market for Structural Monitoring to Grow at Highest CAGR Between 2018 and 2023
Figure 10 North America to Hold Largest Share of Acoustic Emission Testing Market in 2018
Figure 11 Rising Infrastructural Developments Globally Driving Acoustic Emission Testing Market
Figure 12 Sensors to Dominate Acoustic Emission Testing Market During Forecast Period
Figure 13 US Held Largest Share of Acoustic Emission Testing Market in North America in 2017
Figure 14 Acoustic Emission Testing Market for Structural Monitoring to Grow at Highest CAGR During Forecast Period
Figure 15 Acoustic Emission Testing Market in Mexico to Grow at Highest CAGR During Forecast Period
Figure 16 Increasing Need for Asset Or Machinery Health Monitoring Drives Acoustic Emission Testing Market
Figure 17 Value Chain Analysis: Major Value Added During Raw Material Suppliers and Oems Phases of Acoustic Emission Testing Market
Figure 18 Acoustic Emission Testing Market for Sensors to Grow at Highest CAGR Between 2018 and 2023
Figure 19 Acoustic Emission Testing Market for Inspection Services to Grow at Higher CAGR Between 2018 and 2023
Figure 20 Acoustic Emission Testing Market for Structural Monitoring to Grow at Highest CAGR Between 2018 and 2023
Figure 21 Acoustic Emission Testing Market for Bridges to Grow at Highest CAGR Between 2018 and 2023
Figure 22 Acoustic Emission Testing 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

The acoustic emission testing (AET) 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 acoustic emission testing 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 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 acoustic emission testing 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.

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 acoustic emission testing market in APAC.

Acoustic Emission Testing Market

High system cost and lack of skilled workforce are inhibiting the growth of the AET 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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