Global Non-Destructive Test (NDT) Equipment Market Analysis Report 2023: Market to Reach $5.6 Billion by 2030 - Ultrasonic Testing Projected to Account for $1.8 Billion

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Oct 18, 2023, 10:45 ET

DUBLIN, Oct. 18, 2023 /PRNewswire/ -- The "Non-Destructive Test (NDT) Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Non-Destructive Test (NDT) Equipment Market to Reach $5.6 Billion by 2030

The global market for Non-Destructive Test (NDT) Equipment estimated at US$3.3 Billion in the year 2022, is projected to reach a revised size of US$5.6 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2022-2030.

Ultrasonic Testing, one of the segments analyzed in the report, is projected to record 7.8% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the Radiography Testing segment is estimated at 6.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 8% CAGR

The Non-Destructive Test (NDT) Equipment market in the U.S. is estimated at US$1.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$728.6 Million by the year 2030 trailing a CAGR of 8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

Non-Destructive Test (NDT) Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
How Manufacturing, Logistics & Transport, and Automotive Have & Continue to be Impacted by the Pandemic & What's the New Normal?
Manufacturing & Machinery End-Use Industry
Global Machine Tools Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Global Manufacturing Automation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Transportation & Logistics End-Use Sector
Global Transportation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Automotive End-Use Industry
Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
An Introduction to Non-Destructive Test (NDT) Equipment
Comparison of Key NDT Techniques
Global Market Prospects & Outlook
Analysis by Technique
Global Non-Destructive Test (NDT) Equipment Market by Technique (2021 & 2027): Percentage Breakdown of Sales for Ultrasonic Testing, Radiography Testing, Magnetic Particle Testing & Electromagnetic Testing, Visual Inspection Testing, Eddy-Current Testing, Liquid Penetrant Testing, and Other Techniques
Analysis by End-Use
Global Non-Destructive Test (NDT) Equipment Market by End-Use (2021 & 2027): Percentage Breakdown of Sales for Manufacturing, Oil & Gas, Power Generation, Construction, Automotive & Transportation, Aerospace & Defense, and Other End-Uses
Regional Analysis
World Non-Destructive Test (NDT) Equipment Market by Region (2021 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
World Non-Destructive Test (NDT) Equipment Market - Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
Competitive Scenario
Recent Market Activity

MARKET TRENDS & DRIVERS

Sustained Opportunities in the Power Generation Sector
Growing Emphasis on Renewable Energy to Widen the Addressable Market
A Review of Current Trends in Solar & Wind Power Verticals
Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
Continued Investments in Nuclear Energy to Boost Market Prospects
Established Image of NDT in Oil & Gas Sector Bodes Well
Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
Global Oil & Gas E&P Industry Spending (in US$ Billion) for 2015-2021
Shale Gas Exploration & Production to Fuel Future Growth
Established Use Case in Aerospace Sector to Underpin Future Growth
Defense Sector Presents Steady Growth Prospects
Healthy Defense Spending to Amplify the Need for NDT Equipment: Projected Defense Budget (In US$ Billion) for the Years 2019, 2021 and 2023
Military Expenditure as a % of GDP in Select Countries
Critical Importance of Parts & Components Testing Maintains Momentum in Automotive Applications
Breakdown of Automotive Material Mix: 2020
Tire Retreading Businesses Rely on NDT
Metals & Foundry Enterprises Leverage NDT
Uptrend in Demand for High-Quality NDT Services Revs Up Market Expansion
Growing Preference of NDT Equipment in Marine Industry Bodes Well
Technology Trends Influence Direction & Pace of NDT Equipment Market
Ongoing Technological Innovations Set to Widen the Scope & Span of NDT
New Emerging Techniques to Accelerate Future Growth

FOCUS ON SELECT PLAYERS (Total 173 Featured)

Bruker Corporation
AMETEK, Inc.
Carestream Health, Inc.
A&D Company, Limited
Cognex Corporation
Chemetall (Australasia) Pty., Ltd.
Ashtead Technology Ltd.
Bureau Veritas SA
Amerapex Corporation
Applied Technical Services, Inc.
Criterion NDT, Inc.
Cygnus Instruments Inc.
Cobra Scientific
Class Instrumentation Ltd
Central NDT, Inc.

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