Press release
Ultrasonic NDT Equipment Market To Fetch Fortune of USD 2.47 billion with 9.87% CAGR during Forecast period 2017-2023
Market Highlights
The automobile sector has increased its investment for electrical vehicles. Ultrasonic NDT equipment technology is used for testing during the manufacturing process to detect flaws. The technology is widely used in this sector majorly due to safety measures. For instance, Olympus has introduced ultrasonic testing instruments for automobile industry to detect flaws, thickness gauges and disruptions. Asia-Pacific, Latin America, Middle East are the growth hubs for the automotive sector in the global ultrasonic NDT equipment market.
On the other hand, Ultrasonic NDT equipment technology is used in radiography. The technology uses a beam of wave length and frequency to detect flaws. For instance, magnetic particle testing is used to detect surface and sub-surface discontinuities. Also, ERESCO MF4 portable industrial X-ray generators are designed for reliability and operational productivity. Therefore, the application of ultrasonic NDT equipment in radiography is expected to boost the market in the future.
The global Ultrasonic NDT Equipment Market is expected to reach USD 2.47 billion by the end of 2023 with 9.87% CAGR during forecast period 2017-2023.
Taste the market data and market information presented through more than 50 market data tables and figures spread over 68 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Ultrasonic NDT Equipment Market Research Report -Forecast to 2023”.
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Key Players
The prominent players in the market of Ultrasonic NDT Equipment market are – GE Inspection Technologies (U.S.), Olympus Corporation (Japan), Sonatest (U.K.), Danatronic (U.S.), Eddyfi (Canada), James Instruments (U.S.), NDT Systems (U.S.), PaR systems (U.S.), Qualitest International (Canada) and Trinity NDT (India) among others.
Segments:
Global Ultrasonic NDT Equipment Market, End-User
Oil & Gas Industry
Power Generation
Aerospace and defense sector
Automotive and Transportation industry
Global Ultrasonic NDT Equipment Market, By Region
North America
Europe
Asia Pacific
RoW
Regional Analysis:
North America was the largest market for ultrasonic NDT equipment market due to increasing focus by automotive manufacturers to increase its production processes in U.S. Among other countries in North-America, U.S. is dominating the ultrasonic NDT equipment and Canada is expected to grow over the forecast period whereas Europe is growing at a stable rate over the forecast period with a CAGR of 8.77% from 2017 to 2023. The region is attributed to the increasing safety regulations, rapid prototyping and industrialization among others. Also, the expansion in the aerospace and defense sector is expected to boost the market. Whereas, factors such as lack of skilled workforce and the equipment being expensive for testing are stopping the market to grow in the European region.
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Intended Audience
Ultrasonic NDT Equipment Manufacturers
Distributors
Research firms
Consultancy firms
Vendors
Semiconductor Manufacturers
Stakeholders
End-user sectors
Technology Investors
About Us:
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.
Media Contact:
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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