Penetrant NDT Equipment Market 2022 Analysis and Precise Outlook - CHiNDT, YG-NDT, Jebsen Industrial, Helling Gmbh, Ril-Chemie, Spectronics, LCNDT

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The global non-destructive testing equipment market was valued at USD 2,058.7 million in 2020, and it is projected to be worth USD 3,042.3 million by 2026, registering a CAGR of 7.23% during the forecast period (2022 - 2029). 

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Market Overview-

Non-Destructive testing methods are used for safety assessment and quality control purposes. Their usage has wide advantages over applications, like in aerospace (inspecting the aircraft), automotive, maintaining quality assurance, and others. The method is based on the same principle as medical radiography in a hospital. It is widely used in chemical and petrochemical and building industries for radiographic inspection of pipes, boilers, and structures. It is employed to inspect metal welding, vehicle parts, aircraft parts, and, in the airport, to examine both hold luggage and carry-on hand luggage.
The need for maintenance optimization for efficient operations and quality/safety assurance is further helping the adoption of NDT testing equipment. Moreover, factors, such as safety, increased service intervals, reducing tolerance to disruption, small emission targets, and innovative materials have further contributed to the rising demand for NDT techniques in the aerospace and defense sectors.
Key Highlights-
Power and Energy Generation Industry to Witness Strong Growth
The NDT equipment market witnessed an increased demand from the power generation industry, as most of these plants established have aged and were designed and constructed using the standards, materials, and components, thus, meeting industrial practices prevalent at the time of construction. Exposure to operating and environmental conditions can cause damages to unforeseen. NDT serves that purpose to check any such flaws and help solve the problem before it elevates.
The main scope of NDT applications in the energy and power industry is to help ensure the safety, integrity, and reliability of plant equipment, such as pressure vessels, boilers, heat exchangers, pipework, and pipelines. The inspection of concrete structures is a part of plant life assessment, as these materials often form an essential part of the construction of such plant equipment.

Key Players-

CHiNDT, YG-NDT, Jebsen Industrial, Helling Gmbh, Ril-Chemie, Spectronics, LCNDT and Others.

Market Segmentation-

By Type-

Potable Equipment

Standby Equipment

By Application-

Electricity

Oil and gas

Automotive

Aerospace

Others

Regional Analysis-

Asia Pacific is Expected to Witness Significant Growth.
Currently, China is the world's largest producer of electricity. The energy demand of the country is expected to increase, thereby provoking the growth in energy production. NDT application in the fossil fuel segment dominates the market. Also there has been an increased count in aging infrastructure in the country, making it essential for the use of NDT equipment to identify and secure the integrity of these structures. As a result, the NDT service in the country is expected to grow rapidly over the forecast period.

 Major TOC Of the Penetrant NDT Equipment Market-

Chapter 1- Penetrant NDT Equipment Market Overview

Chapter 2- Global Economic Impact on Industry

Chapter 3- Global Penetrant NDT Equipment Market Competition by Manufacturers

Chapter 4-Global Production, Revenue (Value) by Region

Chapter 5 -Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6- Global Production, Revenue (Value), Price Trend by Type

Chapter 7 -Global Penetrant NDT Equipment Market Analysis by Application

Chapter 8- Manufacturing Cost Analysis

Chapter 9 -Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10- Marketing Strategy Analysis, Distributors/Traders

Chapter 11- Penetrant NDT Equipment Market Effect Factors Analysis

Chapter 12- Global Penetrant NDT Equipment Market Forecast

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Reasons to Buy this Report-

This report provides pin-point analysis for changing competitive dynamics.
It provides a forward looking perspective on different factors driving or restraining market growth.
It provides a six-year forecast assessed on the basis of how the Penetrant NDT Equipment market is predicted to grow.
It helps in understanding the key product segments and their future.
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors.
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments.
It provides distinctive graphics and exemplified SWOT analysis of major market segments.

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