Ultrasonic Pulse Velocity Tester Market By Frequency Range (Less Than 50kHz, Above 150 kHz), By Applications (Void And Crack Detection, Non-destructive Strength Measurements, Infrastructure And Construction Testing, Elasticity Measurements, Material Science And Research, Other), By End Users (Construction Industry, Chemicals And Petrochemicals, Oil And Gas Refineries, Aerospace And Defence, Research Institutes, Other) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

Globally, the ultrasonic pulse velocity tester market is expected to grow at a CAGR of 5.9% during the forecast period from 2019 to 2027, starting from US$ 510.0 million in 2018. The ultrasonic velocity test is an augmented testing technology that is used to check the strength and quality of concrete.

The ultrasonic velocity testers are used to transmit ultrasonic pulses through the rock and measure its velocity to define the structure or rock construction. The growing adoption of automation in the construction industry is the key driving factor for the ultrasonic pulse velocity tester market. In addition, the rapidly developing construction industry in several developed and underdeveloped countries is anticipated to fuel market growth over the forecast period.

The ultrasonic velocity tester market is gaining popularity in materials testing. They are primarily used to obtain information about the properties of materials, including timber, ceramics, and refractories.

The reliable and accurate information delivered by ultrasonic velocity testers is escalating the growth of the ultrasonic velocity tester market worldwide. On the other hand, the lack of expert technicians to perform the ultrasonic pulse velocity test is expected to hamper the market's growth. Additionally, the growing integration of advanced technology to overcome manual operations is projected to create various growth opportunities in this market in the near future.

Market Synopsis

The growing use of nondestructive tests in the construction industry is continuing to dominate the market.

In 2018, the overall ultrasonic pulse velocity tester market was led by the construction industry in its end-user segment, which contributed over 32% of the total revenue generated globally. The continuous development in the construction sector and the government initiative to invest in infrastructural developments are the primary factors that drive the growth of this segment.

Additionally, the acceptance of ultrasonic pulse velocity testing over other methods is likely to propel market growth in the upcoming years. Additionally, by application, Void, nondestructive strength measurements, and crack detection applications hold a considerable market share owing to the growing demand for efficient and cost-effective building construction.

North America Dominates the Market by Region

North America holds the largest market share in the ultrasonic pulse velocity market, followed by Europe. It is anticipated to be the dominant region through the forecast period. The growing demand for new and advanced technologies in construction and material testing is the major factor that drives the growth of the North American ultrasonic pulse velocity market.

In addition, the presence of several major manufacturers in the North American region is contributing to the growth of the ultrasonic pulse velocity tester market in this region. Furthermore, Asia Pacific is projected to be the fastest-growing region in this market owing to the growing adoption of nondestructive testing in material testing and the integration of advanced technologies into the ultrasonic pulse velocity tester.

Some of the prominent players operating in the ultrasonic pulse velocity tester market include Mitech Co., Ltd., Canopus Instruments, Proceq Group, Aimil Ltd., Novotest, Olson Instruments Inc., Impact Test Equipment Ltd., Qualitest International Inc., James Instruments Inc., Cygnus Instruments, Stanley, Papworths Construction Testing Equipment, Humboldt Mfg. Co., Controls S.p.A., and other companies.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The ultrasonic pulse velocity tester market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global ultrasonic pulse velocity tester market based on technology, application, end-user, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of ultrasonic pulse velocity testers in 2018, and what is the forecast up to 2027?
• Which is the largest regional market for automotive industry applications?
• What are the major trends followed in the ultrasonic pulse velocity tester market across different regions?
• Who are the key ultrasonic pulse velocity tester companies leading the market?
• What are the key strategies adopted by the leading ultrasonic pulse velocity tester companies in the market?

Unique data points of this report

• Statistics on ultrasonic pulse velocity tester penetration and spending worldwide
• Recent trends across different regions in terms of the adoption of the ultrasonic pulse velocity tester for various vehicles
• Notable developments are going on in the magnetic sensor market.
• Attractive investment propositions for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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