Ultrasonic Technologies Market Top Innovations with a CAGR of 10.9% by 2030

Ultrasonic Technologies Market Growth, Segmentation and Key Companies by 2030

WILMINGTON, DELAWARE, UNITED STATES, July 25, 2024 /EINPresswire.com/ — The major driving factor of the global ultrasonic technologies is its high efficiency in maintenance of systems by inspecting, cleaning, and welding process wherever required. In addition, rapid industrialization in emerging countries has given rise to manufacturing activities. Furthermore, the industries such as oil and gas, chemical, healthcare, foods and beverages, and automobile are continuously developing, which has fostered the demand for installation of ultrasonic equipment in manufacturing industries that are rapidly growing in developing countries.

The ultrasonic technologies market size was valued at $1.3 billion in 2020, and is expected to reach $3.8 billion by 2030, registering a CAGR of 10.9% from 2021 to 2030.

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Ultrasonic technology is a form of sound wave that is used to detect objects and material that are not visible to human eyes. The system further transmits the data that depicts the presence of object or a material. In addition, welding process can be carried out using ultrasonic technology by creating high-frequency waves that produces heat. Ultrasonic technology is used in the manufacturing and process industries for applications such as welding, cleaning, inspection, and cutting. Ultrasonic technology is used for cleaning the surfaces of machines, pipelines, valves, and bearings. In addition, the welding application is used in automobile assemblies as well as in sealing food items. Similarly, inspection process is used in oil and gas, chemical and other process industries to detect leakage in pipelines.

However, high cost of installation of ultrasonic technology and the system that operates the system acts as restraint of the global market. Furthermore, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering ultrasonic technologies market growth. However, this situation is expected to improve in the near future, as governments have started relaxing norms around the world for resuming business activities.

In addition, the integration of IoT in the ultrasonic technologies makes them operate more efficiently, and is anticipated to open new avenues for the expansion of the ultrasonic technologies market during the forecast period.

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Top Players:

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 strengthen their foothold in the global ultrasonic technologies market.

Regional Analysis:

The 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 & 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).

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Key Findings Of The Study
• By application, the welding segment was the highest revenue contributor in 2020.
• On the basis of end-user industry, the food & beverage segment dominated the market in 2020.
• Depending on sales type, the new equipment sales segment led the market in 2020.
• Region wise, Asia-Pacific was the major revenue contributor in 2020.

David Correa
Allied Market Research
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