Guided Wave Ultrasonic Testing Market size is estimated to be USD 620 Million in 2024 and is expected to reach USD 1.2 Billion by 2033 at a CAGR of 8% from 2026 to 2033.
The global Guided Wave Ultrasonic Testing (GWUT) market was valued at approximately USD 450 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2030. The demand for GWUT is increasing due to its application in non destructive testing (NDT), especially for monitoring pipelines, storage tanks, and pressure vessels in various industries, including oil & gas, aerospace, and power generation. The North American market led the global market share in 2022, accounting for over 35% of the total revenue, primarily driven by the growing adoption of GWUT in oil & gas pipeline inspection and stringent regulations regarding infrastructure safety. The European market followed closely, contributing a substantial share, and is expected to expand due to increasing investments in maintenance and safety practices across industries.
Regionally, the Asia Pacific market for GWUT is anticipated to experience the highest growth during the forecast period, with a CAGR of over 9%. This growth is attributed to the rapid industrialization in countries such as China and India, coupled with rising demand for effective maintenance and testing solutions. Additionally, the Middle East & Africa (MEA) region is expected to witness steady growth, driven by the expansion of oil and gas exploration activities. Latin America is also anticipated to show significant growth in the GWUT market, owing to the ongoing development of infrastructure in countries such as Brazil. The increasing need for pipeline monitoring and risk mitigation is set to enhance the market expansion in these regions.
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Applus+
Echo NDE
IRISNDT
Acuren
Eddyfi Technologies
Innerspec Technologies
TWI
Blue Horizon
Open Guided Waves
Intertek
Versa Integrity Group
MHT GROUP
Olympus
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Guided Wave Ultrasonic Testing Market
Time-of-Flight Diffraction (TOFD)
Pulse-Echo Testing
Guided Wave Testing (GWT)
Array Ultrasonic Testing
Pipelines
Storage Tanks
Pressure Vessels
Railway Tracks
Aerospace Components
Oil & Gas
Power Generation
Manufacturing
Aerospace
Transportation
Ultrasonic Transducers
Analyzers
Software
Calibration Systems
Analog Detectors
Digital Detectors
Photoelectric Detectors
Piezoelectric Detectors
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Guided Wave Ultrasonic Testing Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Guided Wave Ultrasonic Testing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Guided Wave Ultrasonic Testing Market, By Type
6. Global Guided Wave Ultrasonic Testing Market, By Application
7. Global Guided Wave Ultrasonic Testing Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Guided Wave Ultrasonic Testing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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