Failure Analysis Market analysis and growth drivers by 2023

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According to the new market research report by IndustryARC titled "Failure Analysis Market By Test (Contamination, Fractography, Mechanical, Chemical,Corrosion, Others) By Technique (FMEA, FMECA, FTA, Others) ByIndustry (Oil and Gas, Automotive, Construction, Industrial,Defense, Others): Forecast (2018-2023)", the market is driven by the increasing demand of the failure analysis of equipment in wireless communication and electronics manufacturing industries.

Americas to dominate the Failure Analysis Market during the forecast period

Americas is expected to have the highest growth in the Failure Analysis Market due to the increaseduse of failure analysis methods across the oil and gas industries and shale oil refineries. The region is expected to reach a revenue of $2.7Billionby 2023 with a CAGR of 6.8%. Focus on improved quality testing of products in the South American market will lead to a high growth due to the increased adoption of equipment and NDT. The growing healthcare sector in the region also requires improved quality assurance of medical equipment owing to the strict laws that govern the use of the equipment.

Selected Analysis done in the full Report:

In the oil and gas industry, failure analysis helps to find the cause of failures and helps to improve the performance of the product or components associated, thereby reducing the future occurrences of failures. Various failure and damage analysis services across the oil and gas industries include material assessment, corrosion investigation, and mitigation, where an investigation is due to the damage caused by fire, fractography, etc. The technical failure analysis services include forensic engineering, pipeline failure assessment, stress analysis, and trace evidence analysis.

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Excerpts on Market Growth Factors

• The growth of the Biosciences industry drives the demand for the fault tree analysis during the forecast period.

• Increase in the maintenance and service cost for the equipment in the manufacturing sector enhances the growth of common mode failure analysis.

• Quality and product differentiation at early stages of the value chain are the factors responsible for sustainable manufacturing.

Key players of the Failure Analysis Market

The key players of the Failure Analysis Market are Thermofisher, FEI Company, and Carl Zeiss SMT GmbH. Thermofisher Scientific is the global leading company that accelerates life sciences research, solves complex analytical challenges, and improves laboratory productivity.FEI Company provides new products that enhance the advanced process control, root cause failure analysis for changing the device functionality. Carl Zeiss SMT GmbH has launched ZEISS MeRiT neXT system for repairing the next generation defects.

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Media Contact:Mr. Venkat ReddySales ManagerEmail 1: [email protected] Email 2: [email protected] Sales: +1-614-588-8538 (Ext-101)

About IndustryARC:

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.

posted in: Failure Analysis Market Forecast, Failure Analysis Market Growth, Failure Analysis Market, Failure Analysis Market Research Report, Failure Analysis Market Size

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