Los Angeles, CA -- (SBWire) -- 03/22/2019 --Ultrasonic NDT equipment is used to inspect or evaluate the discontinuities in character with respect to materials, assemblies or components without hampering or tearing down the serviceability of the part or system. These inspection or evaluation are primarily done to determine the physical properties of materials which includes impact resistance, ultimate tensile strength, ductility, fatigue strength and fracture toughness. Amongst the benefit, ultrasonic NDT equipment helps in lowering the cost of production and maintain a uniform quality level.
North America is estimated to be the major revenue contributor to the market throughout the forecast period. Factors such as the constant demand for crude oil from countries such as the US, Canada, and Mexico and the focus of automotive manufacturers in the US toward enhancing their production processes will fuel market growth in this region.
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Increasing investment in Oil & gas sector coupled with growing infrastructural development around the world is expected to fuel the demand for pipelines, these pipelines are regularly tested for leaks through ultrasonic NDT equipment, which in turn is anticipated to drive the market for ultrasonic NDT equipment market over the forecast period. Additionally, growing industrialization and urbanization have led to the considerable rise in power consumption, which in turn has resulted into heavy loads during peak hours, the ability of ultrasonic NDT equipment to ensure a proper balance of loads is gaining preference from power generation industry and is expected to have significant growth over the forecast period. Moreover, increasing demand from aerospace & defense sector for ensuring safety and technology advancement in ultrasonic NDT equipment such as testing of steel and other alloys is further expected to fuel the demand for ultrasonic NDT equipment over the forecast period.
The global Ultrasonic NDT Equipment market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Ultrasonic NDT Equipment volume and value at global level, regional level and company level. From a global perspective, this report represents overall Ultrasonic NDT Equipment market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
GE Measurement & Control
Olympus Corporation
Magnaflux
Zetec
Proceq
Sonatest
Huari
Zhongke Innovation
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Ultrasonic NDT Equipment Market Segment by Regions
North America
Europe
China
Japan
Ultrasonic NDT Equipment Market Segment by Type
Portable Equipment
Standby Equipment
Ultrasonic NDT Equipment Market Segment by Application
Electricity
Oil and Gas
Automotive
Aerospace
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Ultrasonic NDT Equipment Market Analysis by Significant Development Factors, Market Viewpoint and Prediction Till 2025