Ultrasonic Technologies Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, End-user Industry and Sales Type : Global Opportunity Analysis and Industry Forecast, 2021-2030

The Ultrasonic Technologies Market Size was valued at $1,345.9 Million in 2020, and is expected to reach $3,804.4 million by 2030, registering a CAGR of 10.9% from 2021 to 2030. Ultrasonic Technology is a process of using sound waves to detect certain objects or material and further transmit digital data. Ultrasonic Technology is used for a wide range of operations such as welding, inspection, cleaning, cutting, and sieving in industries such as healthcare, food and beverage, oil and gas, chemical, and automobile. Every application has a different method of operation that makes use of ultrasonic technology in its own unique way. For instance, the inspection technology uses piezoelectrictransducer connected to a flaw detector to detect leakage, whereas the cleaning technology uses high-frequency, high-intensity sound waves in a liquid to facilitate or enhance the removal of foreign contaminants from surfaces submerged in an ultrasonically activated liquid. Furthermore, several other ultrasonic technologies are used to carry out other operations in manufacturing industries. Similarly, ultrasonic welding is an industrial process where high-frequency ultrasonic acoustic vibrations are applied to workpieces being held together under pressure to create a solid-state weld.

Ultrasonic equipment can be used to inspect the places that people cannot reach or cannot inspect into. This can make inspections more thorough and simpler to perform. For instance, in the oil and gas industry, the ultrasonic detection technology is highly efficient in maintenance of systems. Moreover, rapid industrialization in emerging countries has given rise to manufacturing activities. The industries such as oil and gas, chemical, healthcare, foods and beverages, and automobile are continuously developing. Therefore, manufacturers are expanding their businesses in the emerging countries such as Brazil, India, China, and Argentina. These factors collectively contribute toward the growth of the global ultrasonic technologies market.

However, initial capital cost to set up ultrasonic technology and its operating system require high investment. Majorly, cost of the system is high due to high cost of software, which actually detects motion and interacts with systems through sensors and further analyzes command for motion of ultrasonic systems. This acts as a key deterrent factor of the global Ultrasonic Technologies Market. Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Moreover, offices and industries were closed, which led to decline in manufacturing of ultrasonic technologies as well as their demand in the market, thereby restraining ultrasonic technologies market growth. Conversely, industries are gradually resuming their regular manufacturing and services, which will lead to re-initiation of ultrasonic technologies companies at their full-scale capacities. This is expected to aid the ultrasonic technologies market to recover by end of 2021.

On the contrary, integration of IoT in ultrasonic systems helps to increase efficiency and prolongs the service life of ultrasonic systems. Upgrading of ultrasonic systems includes integration of IoT in ultrasonic systems to detect performance of the system, monitor the process, and to take correct measures to overcome issues occurring in the operating process. Thus, all these factors collectively are anticipated to provide remunerative opportunities to players in the ultrasonic technologies market in emerging countries during the forecast period.

The Global Ultrasonic Technologies Market is segmented into application, end-user industry, sales type, and region. By application, the market is segregated into welding, cleaning, inspections, and others. On the basis of end-user industry, it is categorized into food and beverage, automotive, healthcare, and others. Depending on sales type, it is fragmented into new equipment sales and aftermarket sales. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

On the basis of end-user industry, in 2020, the food & beverage segment dominated the ultrasonic technologies market, in terms of revenue, whereas the healthcare segment is expected to witness growth at the highest CAGR during the forecast period. By application, in 2020, the welding segment exhibited the highest growth, whereas the inspections segment is expected to register the highest CAGR in the future. Depending on sales type, the new equipment sales segment led the market in 2020, in terms of revenue; however, the aftermarket sales segment is anticipated to register highest CAGR during the forecast period. Region wise, Asia-Pacific garnered the highest revenue in 2020; however, LAMEA is anticipated to register highest CAGR during the forecast period.

Competition analysis

The major players profiled in the ultrasonic technologies market report include Advanced Sonics, LLC, Crest Ultrasonics Corp., DPR Ultrasonic Technologies, Emerson Electric Co. (Branson), International Ultrasonic Technologies, Mosca GmbH, MS Industrie AG, Sonotronic Nagel GmbH, Telsonic AG, and Ultrasonic Technologies, Inc. These players have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the ultrasonic technologies market.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current trends, future estimations, and dynamics of the ultrasonic technologies market.
• In-depth ultrasonic technologies market analysis is conducted by estimations for the key segments between 2021 and 2030.
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
• The ultrasonic technologies market forecast analysis from 2021 to 2030 is included in the report.
• The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the ultrasonic technologies industry.

  Ultrasonic Technologies Market Report Highlights

Aspects	Details
By Application	Welding Cleaning Inspections Others
By End-user Industry	Food & Beverage Automotive Healthcare Others
By Sales Type	New Equipment Sales Aftermarket Sales
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Spain, Rest of Europe) Asia-Pacific  (China, Japan, South Korea, India, Rest of Asia-Pacific) LAMEA  (Latin America, Middle East, Africa)
Key Market Players	International Ultrasonic Technologies, Advanced Sonics, LLC, DPR Ultrasonic Technologies, Crest Ultrasonics Corp., MS Industrie AG, Mosca GmbH, Ultrasonic Technologies, Inc., Emerson Electric Co. (Branson), Telsonic AG, Sonotronic Nagel GmbH

Analyst Review

The ultrasonic technologies market was valued at $1,345.9 million in 2020, and is expected to reach $3,804.4 million by 2030, registering a CAGR of 10.9% from 2021 to 2030.

Ultrasonic technologies are highly efficient in maintenance of mechanical systems that are installed in the food & beverage, oil & gas, and chemical industries, thus driving the market growth. In addition, industrialization in emerging countries has given rise to demand for ultrasonic systems in manufacturing industries, which fosters the market growth.

However, high initial investment of ultrasonic equipment and its operating systems acts as a major restraint of the global market. On the contrary, the introduction of IoT in ultrasonic equipment is expected to create opportunities for growth of the market during the forecast period.

Major companies in the market have adopted strategies such as product launch and business expansion to strengthen their foothold in the global market.

Author Name(s) : Digvijay Pawar | Sonia Mutreja

Related Tags

• Industrial Automation
• Manufacturing
• Engineering Equipment And Machinery