Ultrasonic NDT Equipment Market – Global industry segment analysis, regional outlook, share, growth; ultrasonic ndt equipment market forecast 2016 to 2026 by future market insights. Ultrasonic NDT equipment is used to inspect or evaluate the discontinuities in character with respect to materials, assemblies or components without hampering or tearing down the serviceability of the part or system. These inspection or evaluation are primarily done to determine the physical properties of materials which includes impact resistance, ultimate tensile strength, ductility, fatigue strength and fracture toughness.
Amongst the benefit, ultrasonic NDT equipment helps in lowering the cost of production and maintain a uniform quality level. Ultrasonic NDT equipment is getting prominence in the market mainly in steel & aluminum, manufacturing, aerospace and defense industry.
Growing demand from Industrial segment coupled with increasing requirement of safety regulation for quality control are expected to boost the demand for ultrasonic NDT equipment over the forecast period.
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Ultrasonic NDT Equipment Market: Drivers and Restraints
Increasing investment in Oil & gas sector coupled with growing infrastructural development around the world is expected to fuel the demand for pipelines, these pipelines are regularly tested for leaks through ultrasonic NDT equipment, which in turn is anticipated to drive the market for ultrasonic NDT equipment market over the forecast period.
Additionally, growing industrialization and urbanization have led to the considerable rise in power consumption, which in turn has resulted into heavy loads during peak hours, the ability of ultrasonic NDT equipment to ensure a proper balance of loads is gaining preference from power generation industry and is expected to have significant growth over the forecast period.
Moreover, increasing demand from aerospace & defense sector for ensuring safety and technology advancement in ultrasonic NDT equipment such as testing of steel and other alloys is further expected to fuel the demand for ultrasonic NDT equipment over the forecast period.
Ultrasonic NDT Equipment Market: Regional Outlook
Geographically, the global ultrasonic NDT equipment market can be divided in major regions which include North America, Latin America, Western and Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). In terms of demand, North America dominates the global ultrasonic NDT equipment market and is expected to continue its dominance over the forecast period.
North America due its growing investment in oil & gas industry has resulted in adoption of new & advanced technology for safe & security reason, which in turn is anticipated to propel the demand for North America ultrasonic NDT equipment market over the forecast period.
Europe is expected to follow North America in ultrasonic NDT equipment market over the forecast period. Asia Pacific is anticipated to hold third place in global ultrasonic NDT equipment market. China due to its shale gas reserves is expected to show a significant growth over the forecast period in ultrasonic NDT equipment market.
Ultrasonic NDT Equipment Market: Key Players
The key players in the global Ultrasonic NDT Equipment marketare
- GE Inspection Technology
- Olympus Corporation
- YXLON International
- Mistras Group
- Zetec Inc.
- James Instruments
- NDT System Inc.
- PaR System Inc.
- Qualitest International
- Trinity NDT
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
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The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis include
- North America (U.S., Canada)
- Latin America (Brazil, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic countries)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC countries, S. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Ultrasonic NDT Equipment Market: Segmentation
The global Ultrasonic NDT Equipment market can be segmented as follows:
Ultrasonic NDT Equipment Market, by component
- Equipment
- Service
Ultrasonic NDT Equipment Market, byend use industry
- Oil & gas
- Power Generation
- Aerospace & defense
- Automotive & Transportation
- Others
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