Global Ultrasonic Non Destructive Testing Equipment Market Expected to Reach US$764.8 Mn in 2022
Ultrasonic Non Destructive Testing Equipment Market |
Market Overview:
The global Ultrasonic Non Destructive Testing Equipment market is estimated to
be valued at US$764.8 Mn in 2022 and
is expected to exhibit a CAGR of 7.0% over
the forecast period 2023-2030,
according to a new report published by Coherent Market Insights. Ultrasonic non
destructive testing equipment is widely used to detect flaws or defects in
various materials without causing any damage. This equipment offers several
advantages such as high accuracy, reliability, and faster testing results. The
need for such equipment is primarily driven by industries such as oil and gas,
aerospace, automotive, and construction, where ensuring the integrity of
materials and components is critical.
Market Key Trends:
The key trend observed in the Ultrasonic Non Destructive Testing Equipment
market is the growing adoption of automated and portable devices. With
advancements in technology, ultrasonic non destructive testing equipment has
become more compact and portable, allowing for easy transportation and usage in
various locations. These devices are increasingly being used in field
inspections and on-site testing, eliminating the need for laboratory testing
and reducing downtime. The integration of automation and robotics in these
devices has further improved testing efficiency and accuracy, making them highly
desirable in industries with harsh or remote working environments.
Overall, the global Ultrasonic Non Destructive Testing Equipment market is
expected to witness significant growth in the coming years, driven by the need
for reliable and efficient testing methods in industries that require quality
assurance and safety measures. The adoption of automated and portable devices
is likely to contribute to the market's expansion, enabling quick and accurate
testing in diverse settings.
Segment Analysis:
The Ultrasonic
Non Destructive Testing Equipment Market can be segmented based on
end-user industry and type of equipment. In terms of end-user industry, the
market is dominated by the oil and gas industry. This dominance can be
attributed to the extensive use of ultrasonic non-destructive testing equipment
in oil refineries, pipelines, and storage facilities for detecting defects and
ensuring safety. The oil and gas industry requires regular inspections and
maintenance to prevent accidents and ensure optimal performance, which drives
the demand for ultrasonic non-destructive testing equipment.
In terms of equipment type, the flaw detectors segment dominates the market.
Flaw detectors are used to detect and assess defects such as cracks, voids, and
inclusions in materials. These defects can compromise the structural integrity
of a component or product, and flaw detectors enable early detection and
preventive measures. The flaw detectors segment is expected to continue
dominating the market due to the increasing need for quality control and safety
in various industries, including aerospace, automotive, and manufacturing.
Key Takeaways:
The global ultrasonic non-destructive testing equipment market is expected to
witness high growth, exhibiting a CAGR
of 7.0% over the forecast period. This growth can be attributed to the
increasing need for quality control and safety in various industries, including
oil and gas, aerospace, and automotive. The oil and gas industry, in
particular, is expected to drive the market due to the extensive use of
ultrasonic non-destructive testing equipment in ensuring safe operations and
preventing accidents.
In terms of regional analysis, North America is the fastest-growing and
dominating region in the market. This dominance can be attributed to the
presence of key players in the region, technological advancements, and strict
safety regulations. The region is witnessing significant investments in
infrastructure development, particularly in the oil and gas industry, which
further drives the demand for ultrasonic non-destructive testing equipment.
Key players operating in the ultrasonic non-destructive testing equipment
market include ROSEN Group, Johnson and Allen Ltd., Advanced NDT Ltd., Olympus
Corporation, Intertek Group PLC, Baker Hughes, GE Measurement and Control, and
Russell Fraser Sales Pty Ltd., among others. These key players have a strong
market presence and offer a wide range of ultrasonic non-destructive testing
equipment. They focus on product development, partnerships, and acquisitions to
maintain their market position and cater to the growing demand for advanced
testing equipment.
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