Insights and Prediction of Non-Destructive Testing Equipment Global Market Report (2019-2026)
The newly Non-Destructive Testing Equipment market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
Product Information
Non-destructive testing is a testing of objects for their flaws and imperfections in accordance with some standard norms.
On the basis of products, the various types include X-Ray, Ultrasonic, Magnetic particle, Penetrant flaw detection, Eddy current test, and Other. In 2019, the ultrasonic segment is expected to dominate the market with a share of nearly 31.7 % and is expected to continue this trend till 2026.
On the basis of application, the Non-Destructive Testing Equipment market is segmented into Oil and gas, Automotive, Aerospace, and Other. The oil and gas industry hold the significant market share at present in the non-destructive testing equipment market. Non-destructive testing equipment are utilized in oil and gas operations on the critical assets such as tanks, vessels, heat exchangers and condensers, piping and rotating equipments to identify potential damage mechanisms. The increasing number of failures of oil and gas equipment and tools, especially of pipes are spurring the need of non-destructive testing equipment in this industry.
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Market Insights
According to a new research study, the Non-Destructive Testing Equipment market size is expected to reach USD 4,410 million by 2026 from USD 2,397 million in 2019, with a compound annual growth rate of 9.1% during the forecast period.
The major factors propelling the growth of the non-destructive testing equipment market are remote visual inspection in aerospace increases demand, stringent safety guidelines and government protocols, automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants. Nevertheless, lack of skilled equipment operators and high cost of NDT equipment slowing down acceptance can possibly act as a limitation for the development of non-destructive testing equipment market.
Regional Segment Analysis
The report focuses on detailed analysis of major regions like North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia), and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
North America represents the largest market share of the non-destructive testing equipment market. North America take about 28.53% of the global consumption volume in 2018 and share 29.62% of global total production. Large investments in energy verticals such as oil and gas are chiefly driving the market growth in North America. The Asia-Pacific holds the second largest market share in the non-destructive testing equipment market followed by Europe and Row respectively.
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Competitive Players
The Non-Destructive Testing Equipment market is full of competition due to the presence of many large and small companies and local manufacturers. The leading vendors in the market are GE Measurement & Control, Olympus Corporation, Magnaflux, YXLON, and Nikon Metrology NV. Other prominent vendors in the market are Zetec, Mistras, Karl deutsch, Proceq, Sonatest, Union, Dndt, Huari, Aolong, Zhongke Innovation, Quanrui, Hongxu, Siui, IDEA, Runqi, and others. The Asia-Pacific will remain the leading market for non-destructive testing equipments throughout the forecasted period due to the high growth in sectors like infrastructure, power generation and aerospace in countries like India and China.
Key questions answered in the report
l What will the market size and growth rate be in 2026?
l What segment or region will drive or lead the market growth and what are the reasons?
l How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
l What key strategies are used by top vendors to increase revenue?
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Target Audience for this Report
l Non-Destructive Testing Equipment manufacturers
l Non-Destructive Testing Equipment importers and exporters
l Raw material suppliers of Non-Destructive Testing Equipment
l Non-Destructive Testing Equipment industry associations
l Product managers, Non-Destructive Testing Equipment industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Government agencies and NGOs
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Non-Destructive Testing Equipment Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Non-Destructive Testing Equipment Market by Types
4 Segmentation of Non-Destructive Testing Equipment Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Non-Destructive Testing Equipment Market in Major Countries
7 North America Non-Destructive Testing Equipment Landscape Analysis
8 Europe Non-Destructive Testing Equipment Landscape Analysis
9 Asia Pacific Non-Destructive Testing Equipment Landscape Analysis
10 Latin America, Middle East & Africa Non-Destructive Testing Equipment Landscape Analysis
11 Major Players Profile
11.1 GE Measurement & Control
11.1.1 GE Measurement & Control Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Olympus Corporation
11.3 Magnaflux
11.4 YXLON
11.5 Nikon Metrology NV
11.6 Zetec
11.7 Mistras
11.8 Karl deutsch
11.9 Proceq
11.10 Sonatest
11.11 Union
11.12 Dndt
11.13 Huari
11.14 Aolong
11.15 Zhongke Innovation
11.16 Quanrui
11.17 Hongxu
11.18 Siui
11.19 IDEA
11.20 Runqi
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