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Ultrasonic NDT Equipment Market Forecast 2023

Ultrasonic NDT Equipment Market Report-Forecast 2023

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Ultrasonic NDT Equipment Market Forecast 2023

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Ultrasonic NDT Equipment Market Forecast 2023

Summary The global ultrasonic NDT equipment market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the Ultrasonic NDT Equipment Market is influenced by the expansion in the aerospace & defense sector, growth in the wind energy sector and emergence of new avenues for natural gas market. Furthermore, growth in the electrical vehicle sales, use of array equipment in radiography and the need for customization of ultrasonic NDT equipment are the factors expected to boost the growth of the market over the forecast period. However, lack of skilled manpower, rise in pipeline sabotage threats are the factors hindering the growth of ultrasonic NDT equipment market.

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Ultrasonic NDT Equipment Market Forecast 2023

Major Key Players: The prominent players in this market are GE Inspection Technologies (U.S.), Olympus Corporation (Japan), Sonatest (U.K.), Danatronic (U.S.), Eddyfi (Canada), James Instruments (U.S.), NDT Systems (U.S.), PaR systems (U.S.), Qualitest International (Canada) and Trinity NDT (India) among others.

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Ultrasonic NDT Equipment Market Forecast 2023

Segmentation: The global ultrasonic non-destructive testing equipment market has been segmented on the basis of end-users and region. On the basis of end-users, the utrasonic NDT equipment market has been segmented into oil and gas industry, power generation, aerospace and defense sector, and automotive and transportation industry.

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Ultrasonic NDT Equipment Market Forecast 2023

Regional Analysis: North America was the largest market for ultrasonic NDT equipment market due to increasing focus by automotive manufacturers to increase its production processes in U.S. Among other countries in North-America, U.S. is dominating the ultrasonic NDT equipment and Canada is expected to grow over the forecast period whereas Europe is growing at a stable rate over the forecast period with a CAGR of 8.77% from 2017 to 2023. The region is attributed to the increasing safety regulations, rapid prototyping and industrialization among others. Also, the expansion in the aerospace and defense sector is expected to boost the market. Whereas, factors such as lack of skilled workforce and the equipment being expensive for testing are stopping the market to grow in the European region.

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Global Ultrasonic NDT Equipment Market  

Global Ultrasonic NDT Equipment Market, By End-User (Oil & Gas Industry, Power Generation, Aerospace and defense sector, Automotive and Tran...

Global Ultrasonic NDT Equipment Market  

Global Ultrasonic NDT Equipment Market, By End-User (Oil & Gas Industry, Power Generation, Aerospace and defense sector, Automotive and Tran...

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