Ultrasonics: Technologies and Global Markets
The global ultrasonic market reached nearly $21.5 billion in 2013. This market is expected to grow to nearly $26.6 billion in 2015 and $45.2 billion in 2020 with a compound annual growth rate (CAGR) of 11.2% over the five-year period from 2015 to 2020.
- An overview of the global market for ultrasonics and related technologies and products.
- Analyses of global market trends, with data from 2013, estimates for 2015, and projections of compound annual growth rates (CAGRs) through 2020.
- Identification of viable technology drivers through a comprehensive look at various platform technologies for new and existing ultrasound products and application markets
- An evaluation of ultrasonic market opportunities to help develop targeted promotion plans
- Information on market player initiatives attempting to meet market demand for various types of ultrasonic products
- Profiles of major companies in the industry.
The report has been prepared in a simple format that can be easily understood with a number of tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for various types of ultrasonic technologies and products with reasons given for variations in the growth of the industry in certain regions.
The analyst of this report is a mechanical engineer with more than 40 years experience in designing factory layouts and setting up factories. He has set up factories for the production of weighing machines and dynamic balancing machines in India and has experience in the design, production and servicing of the above equipment. He was Senior Vice President of M/S Schenck Avery Ltd., an Indo-German joint venture, and set up the electronics department for manufacturing various types of electronic weighing and dynamic balancing equipment. He has authored several technology market research reports for BCC Research.
The global market for ultrasonic equipment in 2010 was nearly $16.4 billion and is estimated at $17.5 in 2011 and $27.7 billion in 2016. The compound annual growth rate (CAGR) for the 5-year period from 2011 to 2016 will be 9.6%.
- The global market for ultrasonics increased from $10.8 billion in 2007 to an estimated $12.4 billion by the end of 2008. It should reach $18.8 billion by 2013, a compound annual growth rate (CAGR) of 8.7%.
- The market segment for technology covering ultrasonic motors and flowmeters will have the highest growth rate of any segment, with a CAGR of 11.4% over the study period.
- The CAGR for ultrasonic flow-meters is expected to be 9.1% over the study period, from 2008 to the end of 2013.
The U.S. ultrasonics market in 2003 stands at $3.5 billion and is projected to rise at an average annual growth rate (AAGR) of 8.5%, to reach $5.35 billion by 2008.
Medical ultrasonics, the largest market segment, will see the fastest growth, experiencing an AAGR of 9.8%. New companies are being formed to exploit the technology in the areas of surgical ultrasonics and the nonsurgical therapeutic segments.
The transducers market segment is considered very mature, although new and innovative materials and new manufacturing techniques may be expected through continuing research.
High-power and low-power industrial applications also are well established. Ultrasonic nondestructive testing, ultrasonic cleaning and ultrasonic welding all are major mature applications.