Ultrasonics: Global Markets and Technologies
- 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.
- Identify viable technology drivers through a comprehensive look at various platform technologies for ultrasound products and their markets.
- Obtain a complete understanding of the major ultrasound markets—industrial, medical, processing, and miscellaneous uses—from their basic principles to their applications.
- Discover feasible market opportunities by identifying high-growth applications in different areas, with a focus on the biggest and expanding markets.
- Focus on global industry development through an in-depth analysis of the major world markets for ultrasonic technologies and products, including forecasts for growth.
- Establish the essentials of the ultrasonic technologies and products market, including definitions, processes, and trends.
- Marketing managers to identify newer market opportunities and develop targeted promotion plans for the company’s ultrasonic products.
- Research and development professionals to stay on top of competitor initiatives and explore demand for various types of ultrasonic products and to develop new products and for newer applications
- Business development executives to understand the dynamics of the market and identify possible new markets.
- Information and research center librarians to provide market researchers and brand and product managers with the information they need to do their jobs more effectively.
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.