Ultrasonic Non Destructive Testing Equipment Market Size to Worth USD 1,314.0 Mn By 2030

Press Releases

May 22, 2024

BURLINGAME, Calif., May 22, 2024 /PRNewswire/ — The global Ultrasonic Non Destructive Testing Equipment Market size is calculated at USD 818.3 million in 2023 and is expected to be worth around USD 1,314.0 million by 2030, growing at a CAGR of 7% from 2023 to 2030, according to Coherent Market Insights. Growing commercial aircraft fleet sizes and increasing development of renewable energy sources are creating new growth opportunities for ultrasonic NDT solutions outside their traditional usage in oil & gas and manufacturing industries.

Ultrasonic NDT Testing Equipment Market Report Coverage

Report Coverage	Details
Market Revenue in 2023	$818.3 million
Estimated Value by 2030	$1,314.0 million
Growth Rate	Poised to grow at a CAGR of 7%
Historical Data	2017–2021
Forecast Period	2023–2030
Forecast Units	Value (USD Million/Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type Of Equipment, By Component, By End Use Industry
Geographies Covered	North America, Europe, Asia Pacific, and Rest of World
Growth Drivers	• Rapid growth of the oil & gas industry • Stringent safety rules and regulations
Restraints & Challenges	• High cost of NDT testing equipment • Lack of skilled labor or professionals

Market Dynamics:

Increased adoption of ultrasonic non destructive testing equipment across various end-use industries such as oil & gas, aerospace, and manufacturing is a major factor driving the market growth. Ultrasonic non destructive testing equipment helps detect flaws or discontinuities in materials or components without damaging the part itself. They are widely used for weld inspection, material thickness checking, deformation detection and quality control in these industries. Moreover, stringent government regulations regarding quality control and safety has increased reliance on non destructive testing techniques and equipment. Rapid industrialization and expanding manufacturing sector globally has further augmented the demand.

The Full Study is Readily Available | Get Sample Pages of this Report: https://www.coherentmarketinsights.com/insight/request-sample/646

Market Trends:

Growing automation in non-destructive testing is the key trend witnessed in the market. Integration of advanced technologies like artificial intelligence, machine learning, and robotics have automated many manual processes and enabled extraction of more useful information from data. This has improved inspection accuracy and reduced human dependency. Furthermore, miniaturization of ultrasonic non-destructive testing equipment has gained traction. Manufacturers are developing compact and portable devices to meet demand from on-field applications and ensure lightweight and easier transportation. This has increased equipment utilization in industries like aerospace with stringent accessibility requirements.

Market Opportunities:

Thickness gauges find widespread application in industries like oil & gas, automotive, and aerospace where accurate thickness measurement is critical. These gauges use ultrasonic pulses to determine the thickness of materials non-destructively. Rapid industrialization and infrastructure development are driving the need for thickness monitoring of equipment, pipelines, vessels, and other critical components. Strict quality control regulations also mandate regular thickness measurement. The ability of ultrasonic thickness gauges to detect even minute thickness variations is spurring their adoption across industries.

Digital flaw detectors or phased arrays provide high resolution imaging for inspection of complex geometries and detection of internal flaws. They are gaining popularity as they offer advantages like enhanced accuracy, multi-element probes for full matrix capture, and integrated data analytics software. Sectors like aviation and power where failure can lead to catastrophic consequences are major consumers. Stringent aviation safety norms mandate thorough aircraft inspection through digital ultrasonic detectors. Their ability to inspect thick sections non-destructively without compromising integrity is a major factor boosting sales.

Customize this study as per your requirement@ https://www.coherentmarketinsights.com/insight/request-customization/646

Key Developments:

In October 2021 – Intertek’s non-destructive testing (NDT) experts in Derby, United Kingdom, added an X-ray computed tomography (CT) scanner to the company’s extensive laboratory of advanced technology. The scanner has 240 kV microfocus and 450 kV mini focus capability.

In September 2021 – Bureau Veritas acquired AET France, which is specialized in laboratory testing, product development, and sustainable testing. This acquisition has strengthened BV’s position in the European consumer goods retail industry.

Key Market Takeaways:

The global ultrasonic non-destructive testing equipment market is anticipated to witness a CAGR of 7.0% during the forecast period 2023-2030, owing to stringent quality control regulations across industries.

On the basis of type of equipment, the digital flaw detectors segment is expected to hold a dominant position, accounting for over 40% of the market share by 2030, due to their ability to provide high resolution imaging of complex components.

By component, the equipment segment is expected to hold a dominant position over the forecast period, owing to periodic replacement of existing machinery with newer technologies.

Regionally, North America is expected to hold a dominant position over the forecast period, due to stringent aviation safety norms and presence of major players in the region.

Key players operating in the ultrasonic non-destructive testing equipment market include ROSEN Group, Olympus Corporation, GE Measurement & Control, Sonatest, and YD, Inc. Strategic acquisitions and regional expansion are some of the key strategies adopted by these players.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.coherentmarketinsights.com/insight/buy-now/646

Detailed Segmentation:

By Type of Equipment:

Thickness gauges
Digital flaw detectors
Phased array flaw detectors
Test machines
Others

By Component:

Equipment
Service

By End Use Industry:

Oil & gas
Power Generation
Aerospace & defense
Automotive & Transportation
Others

By Region:

North America
- U.S.
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa

Browse More Insights:

Drilling Fluids Market: The global drilling fluids market size was valued at US$ 8.03 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 5% from 2023 to 2030.
EPC Consulting Market: The EPC consulting market size is expected to reach US$ 20.32 Bn by 2030, from US$ 11.40 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 8.6% during the forecast period.
Industrial Hand Protection Gloves Market: The global industrial hand protection gloves market is estimated to be valued at US$ 11,485.1 million in 2021 and is expected to exhibit a CAGR of 11.20% over the forecast period (2021-2028).
Laser Safety Glasses Market: The global Laser Safety Glasses Market accounted for US$ 626.0 Mn in terms of value in 2023 and is expected to grow at a CAGR of 10.9% during the forecast period (2023-2030).

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights

Phone:

US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter