Drivers and Restraints:

The global market for ultrasonic NDT equipment is a dynamic market and is slated to witness stable growth over the review period. The expansion of the ultrasonic NDT equipment market is impacted by the development in the aerospace & defense industry, growth in the wind energy sector, and the emergence of new avenues for the natural gas market. Furthermore, the use of array equipment in radiography, an increase in the electric vehicle sales, and the need for modification of ultrasonic NDT equipment are the factors slated to boost the growth of the market over the forecast period.The rapid rise in urbanization and industrialization has generated massive demand for advanced technology in various sectors, leading to the expansion of the ultrasonic non-destructive testing equipment market on the global level. As an advanced non-destructive testing technology, the ultrasonic NDT equipment has established its importance in steel and aluminum, oil and gas, manufacturing, aerospace, and defense industries. the ultrasonic NDT equipment can be used on wood, concrete, and composites, along with metals and alloys, making it useful in the construction industry. The application of ultrasonic NDT equipment in all these industries is acting as a driving force for the global market for ultrasonic non-destructive testing equipment. The advancement of the automotive industry and strict safety regulations are fueling the growth of the global ultrasonic NDT equipment market.

Get Free Sample at: https://www.marketresearchfuture.com/sample_request/3632

On the other hand, lack of well-trained operators to carry out the test with appropriate reference standards and thorough analysis of the results and increase in pipeline sabotage threats are likely to hinder the growth of global ultrasonic non-destructive testing equipment market.

Market Overview:

As per the detailed report published by Market Research Future (MRFR), the global ultrasonic NDT equipment market is projected to attain a substantial market value of USD 2.47 billion at a moderate 9.87% CAGR over the review period.


Segmental Analysis:

The market for ultrasonic non-destructive testing equipment has been analyzed on the basis of end-users and region. the end-users, the ultrasonic NDT equipment market has been segmented into the oil and gas industry, aerospace and defense sector, power generation, and automotive and transportation industry.

Regional Analysis:

The geographical analysis of the global ultrasonic NDT equipment market has been conducted in four major regions, including Europe, North America, Asia Pacific, and the rest of the world (including Latin America and the Middle East and Africa).

Due to the growing investment in the oil and gas industry and the rapid deployment of innovative technology for safety purposes in North America, this region is slated to lead the global ultrasonic NDT equipment market. North America was the most significant market for ultrasonic NDT equipment market due to increasing focus by automotive manufacturers to improve its production processes in the U.S. Among other countries in North-America, U.S. is leading the ultrasonic NDT equipment, and Canada is projected to grow over the forecast period

Europe is anticipated to follow carefully behind North America in the global ultrasonic NDT equipment market. Europe is expanding at a stable rate over the forecast period with a CAGR of 8.77% over the review period. The region is attributed to rapid prototyping, increasing safety regulations, and industrialization, among others. Also, the development in the aerospace and defense sector is expected to boost the market.

The increasing population, energy consumption, and infrastructural development in the developing economies of the Asia-Pacific region are fueling the ultrasonic NDT equipment market in this region.

Competitive Analysis:

The prominent market players identified by MRFR in the global market are Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Sonatest (U.K.), Danatronic (U.S.), James Instruments (U.S.), Eddyfi (Canada), NDT Systems (U.S.), Qualitest International (Canada), PaR systems (U.S.), and Trinity NDT (India) among others.

Browse More Details on Report at: https://www.marketresearchfuture.com/reports/ultrasonic-ndt-equipment-market-3632

About Market Research Future:

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.

Contact:

+1 646 845 9312

Email: [email protected]