Dublin, Oct. 17, 2023 (GLOBE NEWSWIRE) -- 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.
For more information about this report visit https://www.researchandmarkets.com/r/4f3324
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