What is Acoustic Emission Testing Service?
Acoustic emission testing is a non-destructive testing and monitoring method to detect and locate hidden defects in LPG tanks, pressure equipment, among others in good time. Acoustic emission analysis offers overall information on the physical condition and leakproofness of the tested object. In order to locate and defects possible defects and leakages in the tested structure, AT applies a classical physical principle that is used to the industry’s advantage by means of state-of-the-art data reception and processing systems.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | TUV Rheinland (Germany), MISTRAS (United States), TUV Nord (Germany), Parker Hannifin (United States), TUV Austria (Austria), General Electric (United States), Acoustic Emission Consulting (AECUS), Vallen Systeme (Germany), KRN Services (United States) and CTLGroup (United States) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Inspection and Calibration) , by application (Storage Tank, Pipeline, Aging Aircraft, Structural Monitoring, Nuclear Tank, Tube Trailer, Turbine and Others) and major geographies. Research Analyst at AMA predicts that United States and German Manufacturers will contribute to the maximum growth of Global Acoustic Emission Testing Service market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Acoustic Emission Testing Service market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are TUV Rheinland (Germany), MISTRAS (United States), TUV Nord (Germany), Parker Hannifin (United States), TUV Austria (Austria), General Electric (United States), Acoustic Emission Consulting (AECUS), Vallen Systeme (Germany), KRN Services (United States) and CTLGroup (United States).
The bargaining power of the supplier within the market is expected to be high. This can be attributed to the rising demand for acoustic emission testing services across the various end-user industries. Several foremost players are already catering to a wide range of services within the industry. Most of the companies are adopting some organic and inorganic strategies such as merger, acquisition, expansion, among others in order to gain significant market share and also to take competitive advantage. Despite that, there are significant opportunities for new players during the forecast period.
Market Growth Drivers:
Growing Safety Concerns to Enhance Productivity, An Increasing Need for Asset Health Monitoring and Government Initiatives for the Implementation of NDT Solutions
Restraints:
Lack of Skilled Workforce
Opportunities:
Increasing Demand for Acoustic Emission Testing Services in the Power Generation Industry
Key highlights of the Global Acoustic Emission Testing Service market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Acoustic Emission Testing Service market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Acoustic Emission Testing Service market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Acoustic Emission Testing Service Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Acoustic Emission Testing Service market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Acoustic Emission Testing Service market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Acoustic Emission Testing Service Providers, Various End Users, Downstream Vendors, Regulatory & Government Bodies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.