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Ultrasonic NDT Equipment Market Share, Size Industry Trends, Global Competitors Strategy, Segments, Regional Analysis, Review, Key Players Profile, Statistics and Growth to 2023 Analysis
Posted on May 5 2021 9:01 AM
"The Ultrasonic NDT Equipment Market report provides insight into main drivers, challenges, opportunities and risk of the market and strategies of suppliers. Key players are profiled as well with their market shares in the global Ultrasonic NDT Equipment Market discussed. Overall, this report covers the historical situation, present status and the future prospects.
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Global Ultrasonic NDT Equipment Market Research Report covers segment data, including: type segment, industry segment, channel segment etc. cover different segment Ultrasonic NDT Equipment Market size, both volume and value. Also cover different industries client's information, which is very important for the manufacturers.The Ultrasonic NDT Equipment Market report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. the global Ultrasonic NDT Equipment Market revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period.
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Ultrasonic NDT Equipment Market Size (sales, revenue) forecast by regions and countries from 2021 to 2023 of Ultrasonic NDT Equipment industry.Ultrasonic NDT Equipment Market with respect to individual growth trends, future prospects, and their contribution to the total market. Ultrasonic NDT Equipment Market analysis have current study and addition to the potential feature of the market primarily depends upon the facet of the business which compete on the current market, high factors and appropriated analysis. Global Ultrasonic NDT Equipment Market report consumption (value and volume) by key regions/countries, product type and application.Ultrasonic NDT Equipment Market Report also mentions market share accrued by each product in the Ultrasonic NDT Equipment market, along with the production growth.
Ultrasonic NDT Equipment Market Report Focuses on the key global Ultrasonic NDT Equipment manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in forecast period.Ultrasonic NDT Equipment Market Report organizes across the globe into distinct portion based on industry standards. It also distinguishes the market based on geographical regions.
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The global ultrasonic NDT equipment market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the ultrasonic NDT equipment market is influenced by the expansion in the aerospace & defense sector, growth in the wind energy sector and emergence of new avenues for natural gas market. Furthermore, growth in the electrical vehicle sales, use of array equipment in radiography and the need for customization of ultrasonic NDT equipment are the factors expected to boost the growth of the market over the forecast period. However, lack of skilled manpower, rise in pipeline sabotage threats are the factors hindering the growth of ultrasonic NDT equipment market.
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.
Key Players
The key players of Ultrasonic NDT Equipment market include 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.
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Global Ultrasonic NDT Equipment Market Analysis & Forecast, from 2016 to 2023
To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Ultrasonic NDT Equipment market.
To provide insights about factors affecting the market growth.
To analyze the Ultrasonic NDT Equipment market based on porter’s five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment on the basis of output, technology and end user.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Ultrasonic NDT Equipment market.
Target Audience
Ultrasonic NDT Equipment Manufacturers
Distributors
Research firms
Consultancy firms
Vendors
Semiconductor Manufacturers
Stakeholders
End-user sectors
Technology Investors
Key Findings
The Global Ultrasonic NDT Equipment Market has been valued at USD 1,297.7 million in the year 2016 which is estimated to grow at USD 2,472.50 million by the end of year 2023.
The Global Ultrasonic NDT Equipment Market is expected to grow with 9.87% of compound annual growth rate from 2017 to 2023.
By Region-
o North America is dominating the market and has been valued at USD 475.63 million in the year 2016.
o North America Ultrasonic NDT Equipment Market is expected to grow at USD 917.71 million by 2023 with 10.06% of CAGR.
o Europe Ultrasonic NDT Equipment Market holds 32.19% of total market which has been valued at USD 417.79 million in the year 2016 and is estimated to reach at USD 741.91 million by the end of forecast period with 8.77% of CAGR.
o Asia Pacific has emerged as fastest growing market with 12.26% of CAGR and has been valued at USD 285.66 million in the year 2016 and is estimated to reach at USD 633.03 million by the end of forecast period.
By End Users
o Power Generation segment holds largest market share 26.49% in the year 2016 of Ultrasonic NDT Equipment Market and has been valued at USD 343.7 million. This market is expected to grow at USD 666.9 million by the end of year 2023 with 10.17% of CAGR from 2017 to 2023.
o Oil & Gas Industry segment holds second largest market share of 23.28% in the year 2016 and has been valued at USD 302.1 million in the year 2016 which is estimated to reach at USD 555.7 million by the end of year 2023 with 9.30% of CAGR from 2017 to 2023.
o Aerospace & Defense Sector has emerged as the fastest growing market with 12.12% of CAGR from 2017-2023 and has been valued at USD 278.7 million in the year 2016 which is estimated to reach at USD 612.2 million by the end of forecast period.
The key market drivers of Ultrasonic NDT equipment are expanding Aerospace and Defense sector, high development and growth in the energy market and Emergence of new avenues for natural gas market whereas the major challenges of the market have been identified as Necessity for price-sensitive and multiple technology solutions, Lack of skilled manpower, Approval of different standards to use new technology and Rise in pipeline sabotage threats.
The key trends of this market have been identified as Ultrasonic testing for case-hardened components and laser-welded tailored blanks, Growth in electrical vehicle sales and Use of phased array equipment in lieu of radiography among others.
Regional and Country Analysis of Ultrasonic NDT Equipment Market Estimation and Forecast
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..
The reports also cover country level analysis:
North America
o US
o Canada
o Mexico
o Others
Europe
o Germany
o UK
o France
o Rest of the Europe
Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
Rest of the World
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The global Ultrasonic NDT Equipment market Growth is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2023. In 2021, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.Ultrasonic NDT Equipment Market provides sizing and growth opportunities for the period 2021-2023. Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market. Report Includes a detailed analysis of growth drivers, challenges, and investment opportunities. Delivers a complete overview of segments and the regional outlook of the market. Ultrasonic NDT Equipment Market Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
Ultrasonic NDT Equipment Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.Ultrasonic NDT Equipment Market Forecast by regions, type and application, with sales and revenue, from 2021 to 2023.Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Total Chapters in Ultrasonic NDT Equipment Market Report are:
Chapter 1 Overview of Ultrasonic NDT Equipment Market
Chapter 2 Global Market Status and Forecast by Regions
Chapter 3 Global Market Status and Forecast by Types
Chapter 4 Global Market Status and Forecast by Downstream Industry
Chapter 5 North America Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 6 Europe Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 7 Asia Pacific Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 8 Latin America Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 9 Middle East and Africa Market Status by Countries, Type, Manufacturers and Downstream Industry
Chapter 10 Market Driving Factor Analysis of Low End Servers
Chapter 11 Ultrasonic NDT Equipment Market Competition Status by Major Manufacturers
Chapter 12 Ultrasonic NDT Equipment Major Manufacturers Introduction and Market Data
Chapter 13 Upstream and Downstream Market Analysis of Ultrasonic NDT Equipment Market
Chapter 14 Cost and Gross Margin Analysis of Ultrasonic NDT Equipment Market
And Continued…
Detailed TOC of Global Ultrasonic NDT Equipment Market Analysis & Forecast
1 Executive Summary
2 Market Dynamics
2.1 Market Growth Factors
2.1.1 Rising Security and Safety Concern
2.1.2 Ultrasonic NDT Equipment in Developing Countries
2.1.3 Enhanced Business Productivity
2.2 Market Restraints
2.3 Ultrasonic NDT Equipment Supply Chain Process
2.4 Porter's Five Forces Analysis
3 Global Ultrasonic NDT Equipment Market, By Type
3.1 Introduction
3.2 Sub-segment
4 Global Ultrasonic NDT Equipment Market, By Component
4.1 Introduction
4.2 Sub-segment
4.2.1 Ultrasonic NDT Equipment Components
5 Global Ultrasonic NDT Equipment Market, By Verticals
5.1 Introduction
6 Global Ultrasonic NDT Equipment Market, By Region
6.1 Introduction
6.2 Market, By Regions
6.2.1 North America
6.2.1.1 U.S. 33
6.2.1.2 Canada
6.2.1.3 Mexico
6.2.2 Europe
6.2.3 U.K.
6.2.3.1 Germany
6.2.3.2 France
6.2.3.3 Rest of Europe
6.2.4 Asia-Pacific
6.2.5 China
6.2.6 Japan
6.2.7 India
6.2.7.1 Rest of Asia-pacific
6.2.8 Rest of the World (RoW)
6.2.8.1 Middle East & Africa
6.2.8.2 Latin Countries
7 Competitive Landscape
7.1 Introduction
7.2 Market Share Analysis
7.3 Company Profiles
7.3.1.1 Business Overview
7.3.1.2 Product/Service Portfolio
7.3.1.3 Business Strategy
7.3.1.4 SWOT Analysis
8 Appendix
8.1 Scope of the Study
8.1.1 Research Objective
8.1.2 Assumption
8.1.3 Limitation
8.2 Market Structure
9 Research Methodologies
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
9.4 Market Size Estimation
9.5 Forecast Model
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