Market Scenario

Ultrasonic non-destructive testing (NDT) is a method of determining the physical properties of a test piece such as ductility, impact resistance, fracture toughness, ultimate tensile strength and others. The Ultrasonic NDT equipment uses high-frequency sound waves for flaw detection or evaluation, material characterization, dimensional measurements and more. Rapid rise in urbanization and industrialization has generated massive demand for advanced technology in various sectors, leading to the expansion of the ultrasonic non-destructive testing equipment market on the global level.

Market Research Future (MRFR) has recently published a detailed report asserting that the global Ultrasonic NDT Equipment Market may reach USD 8.12 Billion by 2030. It can expand at a noteworthy CAGR of 8.5% from 2022 to 2030 (forecast period).

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Competitive Analysis:

The innovative initiatives and advanced products introduced by the prominent players in the global ultrasonic NDT equipment market is expected to increase the competition among the players. In April 2018, Sonatest (U.K.) has launched new software for their equipment in order to provide higher resolution results along with other noteworthy features. In May 2018, Danatronic (U.S.) has introduced a new feature, Auto Phase Reversal Detection Alarm, to their ECHO 7 gages that enables accurate detection of change in phase in a test piece.

The prominent players in this market are GE Inspection Technologies (U.S.), Olympus Corporation (Japan), Sonatest (U.K.), Danatronic (U.S.), Eddyfi (Canada), James Instruments (U.S.), NDT Systems (U.S.), PaR systems (U.S.), Qualitest International (Canada) and Trinity NDT (India) among others.

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Market Segmentation

the worldwide ultrasonic NDT equipment market has been segmented into end-user

By end-user, the global ultrasonic NDT equipment market has been segmented into Oil & Gas Industry, Power Generation, Aerospace and defense sector, Automotive and Transportation industry.

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Regional Analysis

On the basis of region, the global ultrasonic NDT equipment market is segmented into North America, Europe, Asia-Pacific and the rest of the world. Due to the growing investment in oil and gas industry and rapid adoption of advanced technology for safety purposes in North America, this region is observed to be dominating the global ultrasonic NDT equipment market. Europe is anticipated to follow North America in the global ultrasonic NDT equipment market. Increasing population, energy consumption and infrastructural development in the developing economies of Asia-Pacific region are driving the ultrasonic NDT equipment market in this region.