Global Ultrasonic NDT Equipment Market growing at a CAGR of 8.40% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Sep 2023
Key Market Overview
The Global Ultrasonic NDT Equipment Market was valued at USD 979.26 Million in 2022 and is expected to register a compound annual growth rate of 8.40% to reach USD 1,824.26 Million in 2030.
The report highlights the increasing demand for Ultrasonic NDT Equipment across different sectors is driving the market growth of ultrasonic NDT equipment. Consegic Business Intelligence provides an inclusive research report on the ultrasonic NDT equipment market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Ultrasonic NDT Equipment Market By Overview
The report analyses significant segments such as component, mode of operation, technology, end use, and region to identify emerging trends and potential opportunities. The end use segment is expected to grow due to rising demand for reliable infrastructure for growth and proper functioning of companies that will benefit overall sectors across the globe. Moreover, the power & energy segment is projected to drive the market growth for ultrasonic NDT equipment due to rising demand for renewable source of energy.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand for ultrasonic NDT equipment in energy and power sector is driving the market growth
- Strict regulations associated with safety of employee and equipment is driving the demand for ultrasonic NDT equipment in various end use industries
Restraints:
- Variable factors associated with ultrasonic non-destructive testing is hindering the market growth
Market Segmentation:
| Report Attributes | Report Details |
| By Component | Hardware and Software |
| By Mode of Operation | Manual and Automatic |
| By Technology | Phased Array Ultrasonic, Time of Flight Diffraction Technique, Automated Ultrasonic Backscatter Technique, Conventional Ultrasonic, Rapid Ultrasonic Gridding (RUG), Dry-Coupled Ultrasonic Testing, Others |
| By End Use | Automotive, Oil & Gas, Aerospace & Defense, Power & Energy, Construction, Chemical, Infrastructure, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global Ultrasonic NDT Equipment market is highly competitive due to the presence of major players such as Nanjing BKN Automation System Co., LTD., Magnetic Analysis Corporation, Unique Group, and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in ultrasonic NDT equipment market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Nanjing BKN Automation System Co., LTD.
- Magnetic Analysis Corporation
- Unique Group
- EVIDENT
- Modsonic Instruments Mfg. Co. (P) Ltd.
- Instrumart
- Honesdom International (HK) Limited
- OKOndt GROUP
- TWI Ltd.
- Baker Hughes Company
- Sonatest
- Aimil Ltd.