According to the new research report published by The Insight Partners, titled “Industrial Ultrasonic Transducer Market Global Analysis and Forecast to 2027”, the global industrial ultrasonic transducer market is expected to reach US$ 1,064.1 Mn in 2027, registering a CAGR of 6.7% during the forecast period 2019-2027.

Top Key Players

The players in the market have integrated several technological innovations in the nondestructive testing systems over the years. The North American manufacturers are still innovating and integrating the system with various robust systems and technologies in order to sever their clients with the best nondestructive testing systems and comply with changing regulatory norms.

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The industrial ultrasonic transducers are characterized by the reliability and outstanding versatility. Ultrasonic transducers can be used to solve even the most complex tasks involving object detection or level measurement with millimeter precision, because their measuring method works reliably under almost every situation. The growth of various sectors such as energy and power, pharmaceuticals, oil and gas, and others is opportunistic for the market growth. Along with growth of international trade due to trade liberalization, and development of overall infrastructure is expected to increase the demand of industrial ultrasonic transducers.

Key findings of the study:

The demand for ultrasonic transducer is growing substantially owing to the increasing automation and the use of technologically advanced components across various countries. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period owing to the presence of highly automated countries such as Japan and South Korea and increasing the adoption of new technologies in countries such as India and China. The market for ultrasonic transducers is expected to grow at a significant rate owing to the strong oil & gas industry and government initiatives regarding the digitization of the industrial sector.

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