Ultrasonic NDT Equipment Market Revenue, Opportunity, Forecast and Value Chain 2016-2026
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Ultrasonic NDT Equipment Market: Drivers and Restraints
Increasing investment in Oil & gas sector coupled with growing infrastructural development around the world is expected to fuel the demand for pipelines, these pipelines are regularly tested for leaks through ultrasonic NDT equipment, which in turn is anticipated to drive the market for ultrasonic NDT equipment market over the forecast period. Additionally, growing industrialization and urbanization have led to the considerable rise in power consumption, which in turn has resulted into heavy loads during peak hours, the ability of ultrasonic NDT equipment to ensure a proper balance of loads is gaining preference from power generation industry and is expected to have significant growth over the forecast period. Moreover, increasing demand from aerospace & defense sector for ensuring safety and technology advancement in ultrasonic NDT equipment such as testing of steel and other alloys is further expected to fuel the demand for ultrasonic NDT equipment over the forecast period.
Ultrasonic NDT Equipment Market: Segmentation
The global Ultrasonic NDT Equipment market can be segmented as follows:
Ultrasonic NDT Equipment Market, by component
Ultrasonic NDT Equipment Market, byend use industry
Oil & gas
Aerospace & defense
Automotive & Transportation
Ultrasonic NDT Equipment Market: Regional Outlook
Geographically, the global ultrasonic NDT equipment market can be divided in major regions which include North America, Latin America, Western and Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). In terms of demand, North America dominates the global ultrasonic NDT equipment market and is expected to continue its dominance over the forecast period. North America due its growing investment in oil & gas industry has resulted in adoption of new & advanced technology for safe & security reason, which in turn is anticipated to propel the demand for North America ultrasonic NDT equipment market over the forecast period. Europe is expected to follow North America in ultrasonic NDT equipment market over the forecast period. Asia Pacific is anticipated to hold third place in global ultrasonic NDT equipment market. China due to its shale gas reserves is expected to show a significant growth over the forecast period in ultrasonic NDT equipment market.
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Ultrasonic NDT Equipment Market: Key Players
The key players in the global Ultrasonic NDT Equipment marketare
GE Inspection Technology
NDT System Inc.
PaR System Inc.
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