Ultrasonic Testing Equipment Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Ultrasonic testing is a nondestructive test method that uses high sound frequency to make measurements and conduct examinations. Increasing the adoption of ultrasonic testing equipment in the oil & gas industry can result in a higher demand for ultrasonic testing equipment. The mounting focus on pipeline safety is growing the adoption of innovative technologies and best practices which, in turn, will boost the demand for the ultrasonic testing equipment market. In contrast to other alternative radiography examination methodology, ultrasonic testing is safe and less time-consuming.
MARKET DYNAMICS
The increasing stringency of regulations relating to the integrity and safety of oil & gas pipelines has is the significant factor driving the growth of the ultrasonic testing equipment market. However, non-suitability for all kinds of surfaces is one of the major factor restraining the growth of the ultrasonic testing equipment market. With the increasing need for power, both in the industrial and residential sectors, the demand for ultrasonic test equipment is anticipated to boost the growth of market.
MARKET SCOPE
The "Global Ultrasonic Testing Equipment Market Analysis to 2031" is a specialized and in-depth study of the ultrasonic testing equipment market with a special focus on the global market trend analysis. The report aims to provide an overview of ultrasonic testing equipment market with detailed market segmentation by product, component, technique, end-user. The global ultrasonic testing equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading ultrasonic testing equipment market players and offers key trends and opportunities in the ultrasonic testing equipment market.
MARKET SEGMENTATION
The global ultrasonic testing equipment market is segmented on the basis of product, component, technique, end-user. On the basis of product, the market is segmented as flaw detectors, thickness gauges, ultrasonic scanners, others. On the basis of component, the market is segmented as hardware, services. On the basis of technique, the market is segmented as conventional, advanced. On the basis of end-user, the market is segmented as oil and gas, aerospace and defense, power generation, automotive, manufacturing, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global ultrasonic testing equipment market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The ultrasonic testing equipment market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting ultrasonic testing equipment market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Ultrasonic testing equipment market in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global ultrasonic testing equipment market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The ultrasonic testing equipment market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting ultrasonic testing equipment market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Ultrasonic testing equipment market in these regions.
MARKET PLAYERS
The reports cover key developments in the ultrasonic testing equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from ultrasonic testing equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for ultrasonic testing equipment market. Below mentioned is the list of few companies engaged in the ultrasonic testing equipment market.
The report also includes the profiles of key ultrasonic testing equipment market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Amerapex Corporation
- Cygnus Instruments Inc.
- Eddyfi NDT Inc.
- NDT Systems. Inc.
- OLYMPUS CORPORATION
- Sonatest Ltd
- SONOTEC GmbH
- TecScan.ca
- Zeal International
- Zetec, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Ultrasonic Testing Equipment Market - By Product
1.3.2 Ultrasonic Testing Equipment Market - By Component
1.3.3 Ultrasonic Testing Equipment Market - By Technique
1.3.4 Ultrasonic Testing Equipment Market - By End-use
1.3.5 Ultrasonic Testing Equipment Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ULTRASONIC TESTING EQUIPMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. ULTRASONIC TESTING EQUIPMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ULTRASONIC TESTING EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. ULTRASONIC TESTING EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. ULTRASONIC TESTING EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ULTRASONIC TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. FLAW DETECTORS
7.3.1. Overview
7.3.2. Flaw Detectors Market Forecast and Analysis
7.4. THICKNESS GAUGES
7.4.1. Overview
7.4.2. Thickness Gauges Market Forecast and Analysis
7.5. ULTRASONIC SCANNERS
7.5.1. Overview
7.5.2. Ultrasonic Scanners Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. ULTRASONIC TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. HARDWARE
8.3.1. Overview
8.3.2. Hardware Market Forecast and Analysis
8.4. SERVICES
8.4.1. Overview
8.4.2. Services Market Forecast and Analysis
9. ULTRASONIC TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - TECHNIQUE
9.1. OVERVIEW
9.2. TECHNIQUE MARKET FORECASTS AND ANALYSIS
9.3. CONVENTIONAL
9.3.1. Overview
9.3.2. Conventional Market Forecast and Analysis
9.4. ADVANCED
9.4.1. Overview
9.4.2. Advanced Market Forecast and Analysis
10. ULTRASONIC TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
10.1. OVERVIEW
10.2. END-USE MARKET FORECASTS AND ANALYSIS
10.3. OIL AND GAS
10.3.1. Overview
10.3.2. Oil and Gas Market Forecast and Analysis
10.4. AEROSPACE AND DEFENSE
10.4.1. Overview
10.4.2. Aerospace and Defense Market Forecast and Analysis
10.5. POWER GENERATION
10.5.1. Overview
10.5.2. Power Generation Market Forecast and Analysis
10.6. AUTOMOTIVE
10.6.1. Overview
10.6.2. Automotive Market Forecast and Analysis
10.7. MANUFACTURING
10.7.1. Overview
10.7.2. Manufacturing Market Forecast and Analysis
10.8. OTHERS
10.8.1. Overview
10.8.2. Others Market Forecast and Analysis
11. ULTRASONIC TESTING EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Ultrasonic Testing Equipment Market Overview
11.1.2 North America Ultrasonic Testing Equipment Market Forecasts and Analysis
11.1.3 North America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Product
11.1.4 North America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Component
11.1.5 North America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Technique
11.1.6 North America Ultrasonic Testing Equipment Market Forecasts and Analysis - By End-use
11.1.7 North America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Countries
11.1.7.1 United States Ultrasonic Testing Equipment Market
11.1.7.1.1 United States Ultrasonic Testing Equipment Market by Product
11.1.7.1.2 United States Ultrasonic Testing Equipment Market by Component
11.1.7.1.3 United States Ultrasonic Testing Equipment Market by Technique
11.1.7.1.4 United States Ultrasonic Testing Equipment Market by End-use
11.1.7.2 Canada Ultrasonic Testing Equipment Market
11.1.7.2.1 Canada Ultrasonic Testing Equipment Market by Product
11.1.7.2.2 Canada Ultrasonic Testing Equipment Market by Component
11.1.7.2.3 Canada Ultrasonic Testing Equipment Market by Technique
11.1.7.2.4 Canada Ultrasonic Testing Equipment Market by End-use
11.1.7.3 Mexico Ultrasonic Testing Equipment Market
11.1.7.3.1 Mexico Ultrasonic Testing Equipment Market by Product
11.1.7.3.2 Mexico Ultrasonic Testing Equipment Market by Component
11.1.7.3.3 Mexico Ultrasonic Testing Equipment Market by Technique
11.1.7.3.4 Mexico Ultrasonic Testing Equipment Market by End-use
11.2. EUROPE
11.2.1 Europe Ultrasonic Testing Equipment Market Overview
11.2.2 Europe Ultrasonic Testing Equipment Market Forecasts and Analysis
11.2.3 Europe Ultrasonic Testing Equipment Market Forecasts and Analysis - By Product
11.2.4 Europe Ultrasonic Testing Equipment Market Forecasts and Analysis - By Component
11.2.5 Europe Ultrasonic Testing Equipment Market Forecasts and Analysis - By Technique
11.2.6 Europe Ultrasonic Testing Equipment Market Forecasts and Analysis - By End-use
11.2.7 Europe Ultrasonic Testing Equipment Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Ultrasonic Testing Equipment Market
11.2.7.1.1 Germany Ultrasonic Testing Equipment Market by Product
11.2.7.1.2 Germany Ultrasonic Testing Equipment Market by Component
11.2.7.1.3 Germany Ultrasonic Testing Equipment Market by Technique
11.2.7.1.4 Germany Ultrasonic Testing Equipment Market by End-use
11.2.7.2 France Ultrasonic Testing Equipment Market
11.2.7.2.1 France Ultrasonic Testing Equipment Market by Product
11.2.7.2.2 France Ultrasonic Testing Equipment Market by Component
11.2.7.2.3 France Ultrasonic Testing Equipment Market by Technique
11.2.7.2.4 France Ultrasonic Testing Equipment Market by End-use
11.2.7.3 Italy Ultrasonic Testing Equipment Market
11.2.7.3.1 Italy Ultrasonic Testing Equipment Market by Product
11.2.7.3.2 Italy Ultrasonic Testing Equipment Market by Component
11.2.7.3.3 Italy Ultrasonic Testing Equipment Market by Technique
11.2.7.3.4 Italy Ultrasonic Testing Equipment Market by End-use
11.2.7.4 United Kingdom Ultrasonic Testing Equipment Market
11.2.7.4.1 United Kingdom Ultrasonic Testing Equipment Market by Product
11.2.7.4.2 United Kingdom Ultrasonic Testing Equipment Market by Component
11.2.7.4.3 United Kingdom Ultrasonic Testing Equipment Market by Technique
11.2.7.4.4 United Kingdom Ultrasonic Testing Equipment Market by End-use
11.2.7.5 Russia Ultrasonic Testing Equipment Market
11.2.7.5.1 Russia Ultrasonic Testing Equipment Market by Product
11.2.7.5.2 Russia Ultrasonic Testing Equipment Market by Component
11.2.7.5.3 Russia Ultrasonic Testing Equipment Market by Technique
11.2.7.5.4 Russia Ultrasonic Testing Equipment Market by End-use
11.2.7.6 Rest of Europe Ultrasonic Testing Equipment Market
11.2.7.6.1 Rest of Europe Ultrasonic Testing Equipment Market by Product
11.2.7.6.2 Rest of Europe Ultrasonic Testing Equipment Market by Component
11.2.7.6.3 Rest of Europe Ultrasonic Testing Equipment Market by Technique
11.2.7.6.4 Rest of Europe Ultrasonic Testing Equipment Market by End-use
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Ultrasonic Testing Equipment Market Overview
11.3.2 Asia-Pacific Ultrasonic Testing Equipment Market Forecasts and Analysis
11.3.3 Asia-Pacific Ultrasonic Testing Equipment Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Ultrasonic Testing Equipment Market Forecasts and Analysis - By Component
11.3.5 Asia-Pacific Ultrasonic Testing Equipment Market Forecasts and Analysis - By Technique
11.3.6 Asia-Pacific Ultrasonic Testing Equipment Market Forecasts and Analysis - By End-use
11.3.7 Asia-Pacific Ultrasonic Testing Equipment Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Ultrasonic Testing Equipment Market
11.3.7.1.1 Australia Ultrasonic Testing Equipment Market by Product
11.3.7.1.2 Australia Ultrasonic Testing Equipment Market by Component
11.3.7.1.3 Australia Ultrasonic Testing Equipment Market by Technique
11.3.7.1.4 Australia Ultrasonic Testing Equipment Market by End-use
11.3.7.2 China Ultrasonic Testing Equipment Market
11.3.7.2.1 China Ultrasonic Testing Equipment Market by Product
11.3.7.2.2 China Ultrasonic Testing Equipment Market by Component
11.3.7.2.3 China Ultrasonic Testing Equipment Market by Technique
11.3.7.2.4 China Ultrasonic Testing Equipment Market by End-use
11.3.7.3 India Ultrasonic Testing Equipment Market
11.3.7.3.1 India Ultrasonic Testing Equipment Market by Product
11.3.7.3.2 India Ultrasonic Testing Equipment Market by Component
11.3.7.3.3 India Ultrasonic Testing Equipment Market by Technique
11.3.7.3.4 India Ultrasonic Testing Equipment Market by End-use
11.3.7.4 Japan Ultrasonic Testing Equipment Market
11.3.7.4.1 Japan Ultrasonic Testing Equipment Market by Product
11.3.7.4.2 Japan Ultrasonic Testing Equipment Market by Component
11.3.7.4.3 Japan Ultrasonic Testing Equipment Market by Technique
11.3.7.4.4 Japan Ultrasonic Testing Equipment Market by End-use
11.3.7.5 South Korea Ultrasonic Testing Equipment Market
11.3.7.5.1 South Korea Ultrasonic Testing Equipment Market by Product
11.3.7.5.2 South Korea Ultrasonic Testing Equipment Market by Component
11.3.7.5.3 South Korea Ultrasonic Testing Equipment Market by Technique
11.3.7.5.4 South Korea Ultrasonic Testing Equipment Market by End-use
11.3.7.6 Rest of Asia-Pacific Ultrasonic Testing Equipment Market
11.3.7.6.1 Rest of Asia-Pacific Ultrasonic Testing Equipment Market by Product
11.3.7.6.2 Rest of Asia-Pacific Ultrasonic Testing Equipment Market by Component
11.3.7.6.3 Rest of Asia-Pacific Ultrasonic Testing Equipment Market by Technique
11.3.7.6.4 Rest of Asia-Pacific Ultrasonic Testing Equipment Market by End-use
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Ultrasonic Testing Equipment Market Overview
11.4.2 Middle East and Africa Ultrasonic Testing Equipment Market Forecasts and Analysis
11.4.3 Middle East and Africa Ultrasonic Testing Equipment Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Ultrasonic Testing Equipment Market Forecasts and Analysis - By Component
11.4.5 Middle East and Africa Ultrasonic Testing Equipment Market Forecasts and Analysis - By Technique
11.4.6 Middle East and Africa Ultrasonic Testing Equipment Market Forecasts and Analysis - By End-use
11.4.7 Middle East and Africa Ultrasonic Testing Equipment Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Ultrasonic Testing Equipment Market
11.4.7.1.1 South Africa Ultrasonic Testing Equipment Market by Product
11.4.7.1.2 South Africa Ultrasonic Testing Equipment Market by Component
11.4.7.1.3 South Africa Ultrasonic Testing Equipment Market by Technique
11.4.7.1.4 South Africa Ultrasonic Testing Equipment Market by End-use
11.4.7.2 Saudi Arabia Ultrasonic Testing Equipment Market
11.4.7.2.1 Saudi Arabia Ultrasonic Testing Equipment Market by Product
11.4.7.2.2 Saudi Arabia Ultrasonic Testing Equipment Market by Component
11.4.7.2.3 Saudi Arabia Ultrasonic Testing Equipment Market by Technique
11.4.7.2.4 Saudi Arabia Ultrasonic Testing Equipment Market by End-use
11.4.7.3 U.A.E Ultrasonic Testing Equipment Market
11.4.7.3.1 U.A.E Ultrasonic Testing Equipment Market by Product
11.4.7.3.2 U.A.E Ultrasonic Testing Equipment Market by Component
11.4.7.3.3 U.A.E Ultrasonic Testing Equipment Market by Technique
11.4.7.3.4 U.A.E Ultrasonic Testing Equipment Market by End-use
11.4.7.4 Rest of Middle East and Africa Ultrasonic Testing Equipment Market
11.4.7.4.1 Rest of Middle East and Africa Ultrasonic Testing Equipment Market by Product
11.4.7.4.2 Rest of Middle East and Africa Ultrasonic Testing Equipment Market by Component
11.4.7.4.3 Rest of Middle East and Africa Ultrasonic Testing Equipment Market by Technique
11.4.7.4.4 Rest of Middle East and Africa Ultrasonic Testing Equipment Market by End-use
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Ultrasonic Testing Equipment Market Overview
11.5.2 South and Central America Ultrasonic Testing Equipment Market Forecasts and Analysis
11.5.3 South and Central America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Product
11.5.4 South and Central America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Component
11.5.5 South and Central America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Technique
11.5.6 South and Central America Ultrasonic Testing Equipment Market Forecasts and Analysis - By End-use
11.5.7 South and Central America Ultrasonic Testing Equipment Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Ultrasonic Testing Equipment Market
11.5.7.1.1 Brazil Ultrasonic Testing Equipment Market by Product
11.5.7.1.2 Brazil Ultrasonic Testing Equipment Market by Component
11.5.7.1.3 Brazil Ultrasonic Testing Equipment Market by Technique
11.5.7.1.4 Brazil Ultrasonic Testing Equipment Market by End-use
11.5.7.2 Argentina Ultrasonic Testing Equipment Market
11.5.7.2.1 Argentina Ultrasonic Testing Equipment Market by Product
11.5.7.2.2 Argentina Ultrasonic Testing Equipment Market by Component
11.5.7.2.3 Argentina Ultrasonic Testing Equipment Market by Technique
11.5.7.2.4 Argentina Ultrasonic Testing Equipment Market by End-use
11.5.7.3 Rest of South and Central America Ultrasonic Testing Equipment Market
11.5.7.3.1 Rest of South and Central America Ultrasonic Testing Equipment Market by Product
11.5.7.3.2 Rest of South and Central America Ultrasonic Testing Equipment Market by Component
11.5.7.3.3 Rest of South and Central America Ultrasonic Testing Equipment Market by Technique
11.5.7.3.4 Rest of South and Central America Ultrasonic Testing Equipment Market by End-use
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. ULTRASONIC TESTING EQUIPMENT MARKET, KEY COMPANY PROFILES
13.1. AMERAPEX CORPORATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. CYGNUS INSTRUMENTS INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. EDDYFI NDT INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. NDT SYSTEMS. INC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. OLYMPUS CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. SONATEST LTD
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. SONOTEC GMBH
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. TECSCAN.CA
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. ZEAL INTERNATIONAL
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. ZETEC, INC.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Amerapex Corporation
2. Cygnus Instruments Inc.
3. Eddyfi NDT Inc.
4. NDT Systems. Inc.
5. OLYMPUS CORPORATION
6. Sonatest Ltd
7. SONOTEC GmbH
8. TecScan.ca
9. Zeal International
10. Zetec, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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