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Ultrasonic NDT Equipment Market Size, Analytical Overview, Competitive Landscape, Opportunity Assessment and Trends by Forecast 2023

Dec 06, 2017 (AB Digital via COMTEX) --

Market Scenario:

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.

The global Ultrasonic NDT Equipment Market is expected to reach USD 2.47 billion by the end of 2023 with 9.87% CAGR during forecast period 2017-2023

Key Players

The prominent players in the market of Ultrasonic NDT Equipment 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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Segments:

Global Ultrasonic NDT Equipment Market, End-User

  • Oil & Gas Industry
  • Power Generation
  • Aerospace and defense sector
  • Automotive and Transportation industry

Global Ultrasonic NDT Equipment Market, By Region

  • North America
  • Europe
  • Asia Pacific
  • RoW

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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Intended Audience

  • Ultrasonic NDT Equipment Manufacturers
  • Distributors
  • Research firms
  • Consultancy firms
  • Vendors
  • Semiconductor Manufacturers
  • Stakeholders
  • End-user sectors
  • Technology Investors

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members

Media Contact
Company Name: Market Research Future
Contact Person: Akash Anand
Email: akash.anand@marketresearchfuture.com
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Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune -
City: Pune
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