Acoustic Emission Testing Market

TUV Rheinland (Germany) and MISTRAS Group Inc. (US) are the Key Players in the Acoustic Emission Testing Market

The acoustic emission testing market is expected to reach USD 349.9 Million by 2023, from USD 245.8 Million in 2018, at a CAGR of 7.32% during the forecast period. In 2017, this market was dominated by TUV Rheinland (Germany), MISTRAS (US), TUV Nord (Germany), Parker Hannifin (US), TUV Austria (Austria), and General Electric (GE, US), among others.

TUV Rheinland (Germany) held the first position in the acoustic emission testing market in 2017. The company has more than 20 years of experience in NDT techniques and services. The company’s nondestructive solution portfolio includes acoustic emission, corrosion mapping, computed radiography, high-temperature inspection, nondestructive testing of welds, pulsed eddy current (PEC), and others. The company provides acoustic emission testing for various applications, such as containers and tanks for gas stations, spherical reservoirs, reservoirs of hydrogen and gas, fiber-reinforced materials, and tubes and tanks. The company operates its business globally, delivering services in more than 65 countries. The company aims to strengthen its market presence through product launches, partnerships, and expansions. In June 2017, the company entered into a partnership with AMEC Foster Wheeler and Element (UK) and Tecnatom (Spain) to enhance and ensure the quality of test components and elements for nuclear power plants. In June 2016, the company launched a novel sensor. This new launch is the result of a joint industry project with RWE Power (Germany). The sensor helps determine the behavior of thermal loaded components, such as headers, in the water/steam cycle.

MISTRAS Group Inc. (US) ranked second in the acoustic emission testing market in 2017. The company is engaged in the design and manufacture of acoustic emission testing components. MISTRAS’ product portfolio includes acoustic emission, ultrasonic, and vibration & predictive maintenance (PdM). Under the acoustic emission portfolio, the company offers calibrators, multichannel systems, online monitoring systems, and portable systems. The company offers its products and services for various applications, such as oil & gas, chemicals, nuclear and other power generation sources, aerospace & defense, pharmaceuticals, and metals. The company has 120 offices in 14 countries. The company has adopted inorganic growth strategies to expand its business offerings and geographic footprint. For instance, in April 2017, the company acquired Semiray Inspection Services (US), a nondestructive testing service provider, to expand its customer base in the Southwestern US. In August 2016, the company entered into an agreement with Safran Group (France). Under this agreement, the company will provide both nondestructive and destructive testing services to Safran Aircraft Engines.

Related 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

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Report Code
SE 6001
Published ON
Feb, 2018
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