Global Nondestructive Testing Equipment Market 2023-2027

Global Nondestructive Testing (NDT) Equipment Market 2023-2027

Technavio has been monitoring the nondestructive testing (NDT) equipment market and is forecast to grow by $848.26 mn during 2022-2027, accelerating at a CAGR of 5.95% during the forecast period. Our report on the nondestructive testing (NDT) equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in oil and gas and power generation projects, growing regulatory compliance requirements for preventing accidents, and growing demand for RVI in aerospace industry.

Technavio's nondestructive testing (NDT) equipment market is segmented as below:

By Product Type

• Ultrasonic testing equipment
• Radiography testing equipment
• Visual testing equipment
• Others

By End-user

• Oil and gas
• Power generation
• Aerospace and defense
• Automotive and transportation
• Others

By Geography

• North America
• APAC
• Europe
• South America
• Middle East and Africa

This study identifies the rising demand for ultrasonic testing equipment as one of the prime reasons driving the nondestructive testing (NDT) equipment market growth during the next few years. Also, advent of new types of materials for manufacturing will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the nondestructive testing(NDT) equipment market covers the following areas:

• Nondestructive testing (NDT) equipment market sizing
• Nondestructive testing (NDT) equipment market forecast
• Nondestructive testing (NDT) equipment market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading nondestructive testing (NDT) equipment market vendors that include Acuren, Ashtead technology, Carl Zeiss AG, Eddyfi NDT Inc., FPrimeC Solutions Inc., FUJIFILM Corp., General Electric Co., HELMUT FISCHER GMBH INSTITUT FUR ELEKTRONIK UND MESSTECHNIK, Illinois Tool Works Inc., Labquip NDT Ltd., Mistras Group Inc., MME Group, Nikon Corp., Roper Technologies Inc., Sonatest Inc., TWI Ltd., YXLON International GmbH, Zetec Inc., Cygnus Instruments Ltd., and Olympus Corp. Also, the nondestructive testing (NDT) equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.