Non-Destructive Test (NDT) Equipment Global Market Report 2023: Growing Emphasis On Renewable Energy To Widen The Addressable Market

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Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- The "non-destructive test (ndt) equipment: global strategic business report" report has been added to ResearchAndMarkets.com's offering.
Global Non-Destructive Test (NDT) Equipment Market to Reach $5.6 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Non-Destructive Test (NDT) Equipment estimated at US$3.3 Billion in the year 2022, is projected to reach a revised size of US$5.6 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2022-2030. Ultrasonic Testing, one of the segments analyzed in the report, is projected to record a 7.8% CAGR and reach US$1.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Radiography Testing segment is readjusted to a revised 6.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 8% CAGR
The Non-Destructive Test (NDT) Equipment market in the U.S. is estimated at US$1.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$728.6 Million by the year 2030 trailing a CAGR of 8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$621.5 Million by the year 2030.
Select Competitors (Total 173 Featured) -

• Applus+ Services SA
• Baker Hughes Company
• Bureau Veritas S.A.
• Controle Mesure Systemes SAS
• FUJIFILM Corporation
• Innospection Limited
• Intertek Group plc
• Magnaflux Corporation
• Mistras Group, Inc.
• Nikon Metrology NV
• OKOndt Group LLC
• Olympus Corporation
• YXLON International GmbH

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Attributes:

Report Attribute	Details
No. of Pages	674
Forecast Period	2022 - 2030
Estimated Market Value (USD) in 2022	$3.3 Billion
Forecasted Market Value (USD) by 2030	$5.6 Billion
Compound Annual Growth Rate	6.8%
Regions Covered	Global

Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW

• Non-Destructive Test (NDT) Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• How Manufacturing, Logistics & Transport, and Automotive Have & Continue to be Impacted by the Pandemic & What's the New Normal?
• Manufacturing & Machinery End-Use Industry
• Global Machine Tools Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• Global Manufacturing Automation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• Transportation & Logistics End-Use Sector
• Global Transportation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• Automotive End-Use Industry
• Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• An Introduction to Non-Destructive Test (NDT) Equipment
• Comparison of Key NDT Techniques
• Global Market Prospects & Outlook
• Analysis by Technique
• Global Non-Destructive Test (NDT) Equipment Market by Technique (2021 & 2027): Percentage Breakdown of Sales for Ultrasonic Testing, Radiography Testing, Magnetic Particle Testing & Electromagnetic Testing, Visual Inspection Testing, Eddy-Current Testing, Liquid Penetrant Testing, and Other Techniques
• Analysis by End-Use
• Global Non-Destructive Test (NDT) Equipment Market by End-Use (2021 & 2027): Percentage Breakdown of Sales for Manufacturing, Oil & Gas, Power Generation, Construction, Automotive & Transportation, Aerospace & Defense, and Other End-Uses
• Regional Analysis
• World Non-Destructive Test (NDT) Equipment Market by Region (2021 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
• World Non-Destructive Test (NDT) Equipment Market - Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
• Competitive Scenario
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS

• Sustained Opportunities in the Power Generation Sector
• Growing Emphasis on Renewable Energy to Widen the Addressable Market
• A Review of Current Trends in Solar & Wind Power Verticals
• Targets for Electricity Production from Renewable Energy Sources Worldwide by Country
• Continued Investments in Nuclear Energy to Boost Market Prospects
• Established Image of NDT in Oil & Gas Sector Bodes Well
• Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
• Global Oil & Gas E&P Industry Spending (in US$ Billion) for 2015-2021
• Shale Gas Exploration & Production to Fuel Future Growth
• Established Use Case in Aerospace Sector to Underpin Future Growth
• Defense Sector Presents Steady Growth Prospects
• Healthy Defense Spending to Amplify the Need for NDT Equipment: Projected Defense Budget (In US$ Billion) for the Years 2019, 2021 and 2023
• Military Expenditure as a % of GDP in Select Countries
• Critical Importance of Parts & Components Testing Maintains Momentum in Automotive Applications
• Breakdown of Automotive Material Mix: 2020
• Tire Retreading Businesses Rely on NDT
• Metals & Foundry Enterprises Leverage NDT
• Uptrend in Demand for High-Quality NDT Services Revs Up Market Expansion
• Growing Preference of NDT Equipment in Marine Industry Bodes Well
• Technology Trends Influence Direction & Pace of NDT Equipment Market
• Ongoing Technological Innovations Set to Widen the Scope & Span of NDT
• New Emerging Techniques to Accelerate Future Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION
A selection of companies mentioned in this report includes

• Applus+ Services SA
• Baker Hughes Company
• Bureau Veritas S.A.
• Controle Mesure Systemes SAS
• FUJIFILM Corporation
• Innospection Limited
• Intertek Group plc
• Magnaflux Corporation
• Mistras Group, Inc.
• Nikon Metrology NV
• OKOndt Group LLC
• Olympus Corporation
• YXLON International GmbH

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