Ultrasonic non-destructive testing equipment are used for various applications including flaw detection and thickness detection of components and structures such as pipes, pressure vessels, storage tanks, boilers, and others. The global demand for these equipment is driven by their ability to detect defects without harming the integrity of the product or component under inspection.
The global Ultrasonic Non Destructive Testing Equipment Market is estimated to be valued at US$ 818.3 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of ultrasonic non-destructive testing equipment across various industries such as aerospace, automotive, oil and gas, power generation and others is one of the major factors driving the market growth. Ultrasonic non-destructive testing provides various advantages such as high accuracy, ability to detect surface as well as subsurface defects at micron level, and portability which has resulted in their rising demand from manufacturing and maintenance industries. Furthermore, ongoing infrastructure development projects especially in developing economies is further propelling the market growth over the forecast period.
Segment Analysis
The global ultrasonic non-destructive testing equipment market is dominated by the flaw detection segment. This segment accounted for nearly 30% share of the overall market in 2023. Flaw detection equipment is widely used in manufacturing industries to inspect welds, casting and other components for surface and sub-surface defects. They helps detect cracks, voids or lack of fusion in materials, thereby ensuring product quality and safety. The flaw detection segment is expected to witness higher demand given stringent quality control requirements across various verticals.
Key Takeaways
The Global Ultrasonic Non Destructive Testing Equipment Market Demand is estimated to be valued at US$ 818.3 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to witness the fastest growth in the global ultrasonic non-destructive testing equipment market during the forecast period. This can be attributed to large manufacturing sectors in China and India and growing infrastructure development activities in the region. Countries like China, Japan and India are emphasizing on implementing advanced NDT techniques to enhance manufacturing output and ensure safety of critical infrastructure and components.
Key players operating in the ultrasonic non-destructive testing equipment market are Diageo, William Grant & Sons, Castle Brand, Jameson Irish whiskey, and The Old Bushmills Distillery Co. Diageo and William Grant & Sons capture a major share of the market owing to their diversified brand portfolio and global distribution network. These companies are focusing on developing portable ultrasonic systems with advanced analytics capabilities to expand in new verticals like aerospace and oil & gas.
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On the basis of technology, it is divided into ultrasonic testing, magnetic particle testing, radiography testing, electromagnetic testing, visual testing and others.
By end-use industry, the non-destructive testing equipment market is classified into oil & gas, power generation, automotive, aerospace and defense, manufacturing and others.Get Sample Copy of The Activated Alumina Market Report 2020@ https://brandessenceresearch.com/requestSample/PostId/387*The sample pages of this report is immediately accessible on-demand.
**Non-Destructive Testing Equipment Market is Valued at USD 2.48 Billion in 2018 and Expected to Reach USD 4.07 Billion by 2025 with a CAGR of 7.3% Over the Forecast Period.Market Analysis of Non-Destructive Testing Equipment-Non-destructive testing (NDT) is analysis technique used by engineers to detect defects in materials and structures, either during manufacturing or while in service without harming the object.
Non-destructive testing equipment are made up for quality control of materials and structures, while they are used to detect the defects caused by stress, wear, fatigue, corrosion and other factors, which are used in manufacturing, fabrication and service industries.The regions covered in this Non-Destructive Testing Equipment Market report are North America, Europe, Asia-Pacific and Rest of the World.
On the basis of country level, market of non-destructive testing equipment market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.Key Players–Global Non-Destructive Testing Equipment Market report covers prominent players likeMistras Group,SGS Group,Olympus Corporation,Bureau Veritas S.A., GE Inspection Technologies,YXLON International, Nikon Metrology,Eddyfi, Sonatest Ltd.,Magnaflux Corporation,Zetec Inc.
Stringent Government Regulations Regarding the Safety and Industries Standard are the key Growth Factors Driving the Global Non-Destructive Testing Equipment Market.Industries are focusing on improvement of quality of product and non defective products and for that non destructive testing are required and foster the market growth.
