(MENAFN- GlobeNewsWire - Nasdaq) 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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global market for non-destructive test (ndt) equipment
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