The ultrasonic NDT equipment market is a fast-paced industry that is predicted to grow steadily over the next several years. The expansion of the aerospace and defence sector, the growth of the wind energy sector, and the creation of new avenues for natural gas market growth all influence market growth. Furthermore, the market is predicted to rise due to an increase in the sales of electric vehicles, the usage of array equipment in radiography, and the requirement for customization of ultrasonic NDT equipment over the forecast period.
On the negative side, a lack of competent staff and an increase in pipeline sabotage threats are limiting the market's growth.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | End-User, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | GE Inspection Technologies, Olympus Corporation, Sonatest, Danatronic, Eddyfi, James Instruments, NDT Systems, PaR systems, Qualitest International, Trinity NDT. |
Covid-19 Impact on Ultrasonic NDT Equipment Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Ultrasonic NDT Equipment Market Segment Overview
Based on End-User, the Aerospace and defense sector is one of the largest segments in the global Ultrasonic NDT Equipment market. In the aerospace sector, Non-destructive Testing (NDT) is a vital part of ensuring aircraft safety through the use of precise and efficient technologies. In addition, effective Non-Destructive Testing (NDT) helps the defence sector in ensuring the safe operation of military assets in order to serve and defend.
Ultrasonic NDT Equipment Market, By End-User
· Oil & Gas Industry
· Power Generation
· Aerospace and defense sector
· Automotive and Transportation industry
Ultrasonic NDT Equipment Market Regional Overview
Geographically, North America commanded a major share of the market and is predictable to maintain its supremacy over the forecast period. This is due to the rising focus of automotive manufacturers to increase their production processes in the U.S. Among other countries in North America, the U.S. is the most prominent country for ultrasonic NDT equipment and Canada is anticipated to grow in the coming years. Moreover, Europe is another major region for the market. Factors such as the growing safety regulations, rapid prototyping, and industrialization among others are majorly contributes to the development of the market in this region. Also, the expansion in the aerospace and defense sector is anticipated to boost the market. Additionally, the market in the Asia Pacific is expected to rise at a considerable rate in the forthcoming years.
Ultrasonic NDT Equipment Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Ultrasonic NDT Equipment Market, Key Players
· GE Inspection Technologies
· Olympus Corporation
· Sonatest
· Danatronic
· Eddyfi
· James Instruments
· NDT Systems
· PaR systems
· Qualitest International
· Trinity NDT
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Ultrasonic NDT Equipment market?
Q2. What are the restraining factors for the global Ultrasonic NDT Equipment market?
Q3. Which segment is projected to hold the largest share in the global Ultrasonic NDT Equipment Market?
Q4. Which region holds the largest share in the global Ultrasonic NDT Equipment market?
Q5. Which are the prominent players in the global Ultrasonic NDT Equipment Market?
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Ultrasonic NDT Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By End-User
- 5.2.1. Oil & Gas Industry
- 5.2.2. Power Generation
- 5.2.3. Aerospace and defense sector
- 5.2.4. Automotive and Transportation industry
- 5.3. Market Analysis, Insights and Forecast – By Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America, Middle East and Africa
6. North America Ultrasonic NDT Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By End-User
- 6.2.1. Oil & Gas Industry
- 6.2.2. Power Generation
- 6.2.3. Aerospace and defense sector
- 6.2.4. Automotive and Transportation industry
- 6.3. Market Analysis, Insights and Forecast – By Country
- 6.3.1. U.S.
- 6.3.2. Canada
7. Europe Ultrasonic NDT Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By End-User
- 7.2.1. Oil & Gas Industry
- 7.2.2. Power Generation
- 7.2.3. Aerospace and defense sector
- 7.2.4. Automotive and Transportation industry
- 7.3. Market Analysis, Insights and Forecast – By Country
- 7.3.1. UK
- 7.3.2. Germany
- 7.3.3. France
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Russia
- 7.3.7. Rest of Europe
8. Asia Pacific Ultrasonic NDT Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By End-User
- 8.2.1. Oil & Gas Industry
- 8.2.2. Power Generation
- 8.2.3. Aerospace and defense sector
- 8.2.4. Automotive and Transportation industry
- 8.3. Market Analysis, Insights and Forecast – By Country
- 8.3.1. China
- 8.3.2. India
- 8.3.3. Japan
- 8.3.4. Australia
- 8.3.5. South East Asia
- 8.3.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Ultrasonic NDT Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By End-User
- 9.2.1. Oil & Gas Industry
- 9.2.2. Power Generation
- 9.2.3. Aerospace and defense sector
- 9.2.4. Automotive and Transportation industry
- 9.3. Market Analysis, Insights and Forecast – By Country
- 9.3.1. Brazil
- 9.3.2. Saudi Arabia
- 9.3.3. UAE
- 9.3.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. GE Inspection Technologies
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Olympus Corporation
- 10.6. Sonatest
- 10.7. Danatronic
- 10.8. Eddyfi
- 10.9. James Instruments
- 10.10. NDT Systems
- 10.11. PaR systems
- 10.12. Qualitest International
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
