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As per the report published by Allied Market Research, titled, "Acoustic Emission Equipment Market by Product Type (AE Systems, Hand-held Systems, and Standalone Systems), Technique (Multiple Channel Source Location Technique, Linear Source Technique, Zonal Source Technique, and Point Source Technique), and End User (EPC, Transportation, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2027," the global acoustic emission equipment industry generated $108.0 million in 2019, and is estimated to generate $130.8 million in 2027, registering a CAGR of 3.2% from 2020 to 2027.The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Aging infrastructure, increase in network densification, rise in standards of quality in developing countries, and surge in number of new infrastructural projects augment the growth of the global acoustic emission equipment market. On the other hand, lack of quantitative analysis in commercial acoustic emission testing and weak signals in noisy operating environments impede the market growth. Nevertheless, rise in investments in smart cities and big data analytics are anticipates to usher multiple opportunities in the coming years.
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The key market players in the report include Campbell Scientific, Inc., Acoustic Monitoring International, Inc., Dodson Technical Services, Inc., Score Atlanta Inc., Siemens AG, Vallen Systeme GmbH, Wabtec Corporation, Mistras Group, Inc., Parker-Hannifin Corporation, and Schmitt Europe Ltd.
Key Benefits For Stakeholders
This study comprises analytical depiction of the global acoustic emission equipment market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall acoustic emission equipment market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current acoustic emission equipment market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the acoustic emission equipment market.
The report includes the acoustic emission equipment market share of key vendors and industry trends.
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The global acoustic emission equipment market is segmented by product type, technique, end user, and region.
Based on product type, the AE systems segment contributed to the highest share in 2019, accounting for more than three fourths of the global acoustic emission equipment market, and is expected to maintain its lead position during the forecast period. On the other hand, the hand held systems segment is expected to witness the highest CAGR of 6.1% from 2020 to 2027. The report also analyzes standalone sensors segment.
Based on region, North America held the highest market share with more than one-third of the global acoustic emission equipment market in 2019, and is expected to maintain its dominant position by 2027. Nevertheless, the Asia-Pacific region is expected to grow at the fastest CAGR of 4.9% from 2020 to 2027. Furthermore, regions including LAMEA and Europe are also analyzed in the report.
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Based on technique, the linear location segment accounted for nearly two-fifths of the total market share in 2019, and is projected to maintain its leadership throughout the forecast period. In addition, this segment is estimated to portray the fastest CAGR of 3.8% from 2020 to 2027. The report also analyzes segments including multiple channel source location technique, zonal location technique, and point location technique.
Covid-19 Scenario:
The manufacturing processes for acoustic emission equipment have been affected due to lockdown. In addition, the supply chain disruptions further hampered the market growth as it led to huge shortage of raw materials.
Nevertheless, the companies in various regions have reinitiated their working processes, with concern to the regulation policies issued by the government bodies.
Read More at https://www.globenewswire.com/news-release/2020/09/02/2087796/0/en/Acoustic-Emission-Equipment-Market-Size-to-Grow-130-8-Million-by-2027-AMR.html
Contact Info:
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Organization: Allied Market Research
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