Dublin, March 15, 2024 (GLOBE NEWSWIRE) -- The "Ultrasonic NDT Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Amidst a progressive industrial landscape, the global market for Ultrasonic Non-Destructive Testing (NDT) Equipment has been undergoing significant growth. A comprehensive analysis reveals that this market, valued at US$17.4 Billion in 2022, is on an upward trajectory, poised to reach an impressive US$26.2 Billion by the year 2030. This marks a compound annual growth rate (CAGR) of 5.3% throughout the forecast period from 2022 to 2030.
The report segments the market into various industries, with the Oil & Gas sector notable for its promising 5.1% CAGR, suggesting a market value of US$8.9 Billion by the conclusion of the analysis period. The sector's consistent investment in infrastructure expansion, maintenance, and adherence to stringent safety regulations underpins this estimated growth.
In the geographical analysis, the United States garners particular attention, being estimated at US$5.1 Billion in 2022. Concurrently, China's rapidly expanding economy is set to champion a 4.8% CAGR, with the potential to hit a projective US$4.6 Billion by 2030. Other geographical markets, such as Japan and Canada, are also expected to chart steadfast growth rates of 4.4% and 4.3% respectively over the eight-year period. Europe, with Germany at the forefront, is anticipated to witness a CAGR close to 4%.
The report intricately explores the competitive landscape, featuring a selection of notable players in the Ultrasonic NDT Equipment sphere, including:
- Cygnus Instruments Inc.
- Danatronics Corporation
- Eddyfi Technologies
- James Instruments, Inc.
- NDT Systems, Inc.
- Sonotron NDT
- Trinity NDT
Key Insights of the Report
Delving into current global events, the report includes special coverage on major geopolitical and economic phenomena such as the Russia-Ukraine war, international inflationary trends, and the normalization of China's COVID-19 policies. Furthermore, it examines the significant impact of supply chain disruptions, global trade relations, and looming recession risks.
From a market competitiveness standpoint, the report benchmarks the contribution of key players, their market share, and their operational presence across diverse geographies—ranging from strong and active to niche and trivial sectors. In keeping with the digital age, the report encompasses bespoke online collaborative updates and provides access to a robust digital archive and research platform. Clients will benefit from a year of complimentary updates, reflecting the dynamic nature of the market.
As business leaders, stakeholders, and strategists pivot to align with emerging market realities, this report serves as an instrumental tool in decision-making processes, empowering entities with actionable insights and a comprehensive understanding of the Ultrasonic NDT Equipment market trajectory towards 2030.
With detailed analysis, expert insights, and future forecast, the addition of this report to our research compendium underscores our commitment to providing the most relevant and incisive market data available, aligning with the constant pursuit of industry excellence and strategic knowledge acquisition.
Global Market Prespective
- Ultrasonic NDT Equipment Market Analysis:
- Detailed analysis by geographic region: USA, Canada, Japan, China, Europe, Asia-Pacific, and Rest of World.
- Analysis spans from 2014 to 2030.
- End-Uses Analyzed:
- Oil & Gas
- Power Generation
- Aerospace & Defense
- Automotive & Transportation
- Foundry
- Other End-Uses
- Market Presence and Key Competitors for Each Region.
- Annual Sales Figures in US$ Million provided for each year.
- Percentage CAGR provided for each segment and region.
- Historic Review and Future Analysis provided for comparison.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 196 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $17.4 Billion |
| Forecasted Market Value (USD) by 2030 | $26.2 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Cygnus Instruments Inc.
- Danatronics Corporation
- Eddyfi Technologies
- James Instruments, Inc.
- NDT Systems, Inc.
- Sonotron NDT
- Trinity NDT
For more information about this report visit https://www.researchandmarkets.com/r/nrwd8f
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