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London, United Kingdom, 2008/09/25 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report analysing the global ultrasonics market.
“Ultrasonics: Global Markets and Technologies” reports that this market was worth $10.8 billion in 2007. This is expected to increase to $12.4 billion in 2008 and reach $18.8 billion by 2013, experiencing a compound annual growth rate (CAGR) of 8.7%.
The report shows that the market is broken down into applications of ultrasonic motors, flowmeters and spares, ultrasonic medical technology, and ultrasonic assembling/processing technology.
Authors of the report highlight that, of these, the ultrasonic motors, flowmeters and spares segment is expected to have the highest value and growth rate over the study period. Worth an estimated $4.9 billion in 2008, it is expected to increase to $8.4 billion in 2013, a CAGR of 11.4%. This growth is anticipated mainly because of increased use of ultrasonic motors and actuators in various digital cameras and cell-phone cameras.
The second largest segment, ultrasonic medical technology, will be worth an estimated $3.8 billion in 2008 and reach almost $6.0 billion in 2013, a CAGR of 8.9%. The medical field has embraced ultrasonics, and new applications crop up regularly. The diagnostic ultrasound is a booming market with use of 3D and 4D imaging increasing in many new fields. Similarly, ultrasonic applications in various types of surgical and therapeutic fields are increasing.
The report further notes that the ultrasonic assembling/processing technology segment will increase at a CAGR of 4.4% over the study period. Worth an estimated $3.6 billion in 2008, it will reach $4.5 billion in 2013.
“Ultrasonics: Global Markets and Technologies” is available from Report Buyer. For more information see website.
Report Buyer product ID: BCC00225
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