Rapid expansion of industries would stimulate the demand for ultrasonic transducers

 

Latest market study on "Industrial Ultrasonic Transducer Market to 2027 by Type (Contact Transducer, Dual Element Transducer, Immersion Transducer, Shear Wave Transducer, Delay Line Transducer, and Others); Application (Level & Measurement, Non-destructive Testing, Process Control, and Others); Industry Vertical (Oil & Gas, Energy & Power, Pharmaceutical, Pulp & Paper, Metallurgy & Engineering, and Others); - Global Analysis and Forecast", the industrial ultrasonic transducer market is estimated to reach US$ 1,064.1 Mn by 2027 from US$ 609.5 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

 

The global manufacturing and oil & gas industries are rapidly expanding as more and newer regions are investing in adopting manufacturing plants in their localities. The expansion in the manufacturing and oil & gas industry is expected to embrace technological advancements to enhance plant productivity, maintain the edge with the customers, and gain competitive advantage. The development in these industries is driven by economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory.

 

In October 2018, the North American manufacturing purchasing managers index (PMI) accounted for 52.4. The PMI is expected to remain strong in North America, signifying a strong recovery of the manufacturing sector, increasing industrial advancement in emerging Mexico, and intensifying commodities prices. Steady and consistent economic growth in these industries is a major driving factor for the development and advancements globally. Further, these industries are presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. For instance, the Government of India has started the “Make in India” initiative to boost the growth of various sectors such as automobiles, textiles, and other industries. The Indian Government is launching Make in India 2.0, which is the next round of make in India, and this initiative will focus on turning India into a global manufacturing hub. The positive outlook of these industries across the globe is driving the adoption of the ultrasonic transducer within the process lines of the manufacturing unit as well as oil & gas sector. China, US, Japan, Germany, India, South Korea, UAE, and the UK are some of the prominent countries of manufacturing and oil & gas industries.

 

Geographically, North America region holds the largest share in the industrial ultrasonic transducer market for the current year. Further Asia Pacific region is projected to witness the highest growth rate over the forecast period 2019 to 2027. The market for industrial ultrasonic transducer has been segmented on the basis of type, application, industry vertical, and geography. The industrial ultrasonic transducer market based on type is sub-segmented into contact transducer, dual element transducer, immersion transducer, shear wave transducer, delay line transducer, and others. The contact transducer segment is expected to hold the prime market share in the industrial ultrasonic transducer market. The industrial ultrasonic transducer market on the basis of application is segmented into level & measurement, non-destructive testing, process control, and others. The non-destructive testing segment led the industrial ultrasonic transducer market and it is anticipated to continue its dominance during the forecast period. The market for industrial ultrasonic transducer by application is further segmented into Oil & Gas, Energy & Power, Pharmaceutical, Pulp & Paper, Metallurgy & Engineering, and Others. The Oil & Gas sector is expected to hold the lion’s share in the year 2018 and is expected to continue its dominance till 2027.

The major companies operating in industrial ultrasonic transducer market include APC International, Ltd, Audiowell Electronics (Guangdong) Co., Ltd., Crest Ultrasonics Corporation, Olympus Corporation, Optel, Piezo Technologies, Sonotec GMBH, Weber Ultrasonics AG, Weber Ultrasonics AG, and Siemens AG among others. Several other companies are also offering these industrial ultrasonic transducer products and solutions for various organisations, which is facilitating the market to propel over the years.

Industrial Ultrasonic Transducer Market - Geographic Breakdown, 2018 

Industrial Ultrasonic Transducer Market - Geographic Breakdown, 2018

The report segments the global industrial ultrasonic transducer market as follows:

Global Industrial Ultrasonic Transducer Market - By Type

  • Contact Transducer
  • Dual Element Transducer
  • Immersion Transducer
  • Shear Wave Transducer
  • Delay Line Transducer
  • Others

Global Industrial Ultrasonic Transducer Market - By Application

  • Level and Measurement
  • Non-destructive Testing
  • Process Control
  • Others

Global Industrial Ultrasonic Transducer Market - By Industry Vertical

  • Oil & Gas
  • Energy & Power
  • Pharmaceutical
  • Pulp & Paper
  • Metallurgy & Engineering
  • Others

Global Industrial Ultrasonic Transducer Market - By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

 

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