Ultrasonic NDT Equipment Market Size and Key Trends in Terms of Volume and Value 2016-2026

Valley Cottage, NY -- (SBWire) -- 02/20/2018 --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. Ultrasonic NDT equipment is getting prominence in the market mainly in steel & aluminum, manufacturing, aerospace and defense industry. Growing demand from Industrial segment coupled with increasing requirement of safety regulation for quality control are expected to boost the demand for ultrasonic NDT equipment over the forecast period.

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Ultrasonic NDT Equipment Market: Drivers and Restraints

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.

Ultrasonic NDT Equipment Market: Segmentation

The global Ultrasonic NDT Equipment market can be segmented as follows:

Ultrasonic NDT Equipment Market, by component

Equipment
Service
Ultrasonic NDT Equipment Market, byend use industry

Oil & gas
Power Generation
Aerospace & defense
Automotive & Transportation
Others
Ultrasonic NDT Equipment Market: Regional Outlook

Geographically, the global ultrasonic NDT equipment market can be divided in major regions which include North America, Latin America, Western and Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). In terms of demand, North America dominates the global ultrasonic NDT equipment market and is expected to continue its dominance over the forecast period. North America due its growing investment in oil & gas industry has resulted in adoption of new & advanced technology for safe & security reason, which in turn is anticipated to propel the demand for North America ultrasonic NDT equipment market over the forecast period. Europe is expected to follow North America in ultrasonic NDT equipment market over the forecast period. Asia Pacific is anticipated to hold third place in global ultrasonic NDT equipment market. China due to its shale gas reserves is expected to show a significant growth over the forecast period in ultrasonic NDT equipment market.

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Ultrasonic NDT Equipment Market: Key Players

The key players in the global Ultrasonic NDT Equipment marketare

GE Inspection Technology
Olympus Corporation
YXLON International
Mistras Group
Zetec Inc.
Nikon metrology
Danatronics Corporation
Eddyfi
James Instruments
NDT System Inc.
PaR System Inc.
Qualitest International
Trinity NDT