Asia-Pacific Emerged to Be the Fastest-Growing Market for Non-Destructive Inspection Equipment During the Review Period

Pune, India, Nov 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Non Destructive Inspection Equipment Market.

Asia-Pacific is expected to witness the highest demand for Non-Destructive Inspection Equipment. The continuously growing oil & gas industry and increasing initiatives to ensure the safety of the equipment such as pipelines, storage tanks, and others is expected to generate massive demand for non-destructive inspection equipment during the forecast period. Japan is the second-largest market for non-destructive inspection equipment. Japan is a technologically advanced country that provides advanced products in every sector. Similarly, Japan's aerospace industry has a stronghold in the field of R&D, and presently the industry is moving towards the commercialization of aerospace technology. Growing demand for advanced components for aerospace and satellite manufacturing is boosting its aerospace and aircraft manufacturing sector.

Amongst North America, the US holds the largest share within the Non-Destructive Inspection Equipment Market and is expected to retain dominance throughout the projected period. The US is expected to achieve significant growth for the North American market during the upcoming years. This can be attributed to the growing oil & gas, power & energy, aerospace & defense industries. The increasing demand and production of oil & gas, the growing presence of major oil & gas producers such as Exxon Mobil, Total SA, and others are expected to drive the adoption of non-destructive inspection equipment market during the forecast period.

Germany is the largest market for non-destructive inspection equipment in Europe. This can be attributed to the rapidly growing aerospace & defense industry in the country, increasing the adoption of non-destructive inspection equipment as the non-destructive testing technique is commonly used in the aerospace & defense industry to ensure aircraft safety. The UK holds the second-largest share owing to increasing government investment in the industries such as energy & power, oil & gas, and aerospace & defense. These industries are the prominent end-user of non-destructive inspection equipment. Due to increasing demand from various end-use verticals, Russia and France are expected to exhibit significant growth during the forecast period. Moreover, the Rest of Europe is expected to exhibit substantial growth during the projected period.

Brazil holds the largest share within the market owing to stringent government regulations regarding the safety of assets in the industries such as oil & gas, power & energy, aerospace & defense, and others. Non-destructive inspection equipment is widely used in these industries to detect flaws in the materials.

South Africa holds the largest share within the Non-Destructive Inspection Equipment Market owing to increased demand from end-use industries. Egypt and Saudi Arabia are significant markets for non-destructive inspection equipment. The oil & gas industry is the major contributing industry to the market. The prominent international players are expanding their manufacturing facilities in the Middle East & African countries.

Global Non-Destructive Inspection Equipment Market Share, by Region, 2021 (%)

Source: MRFR Analysis

Covid Impact Analysis

COVID-19 has negatively affected the Non-Destructive Inspection Equipment Market. The decline in oil and exploration projects, temporary shutdowns of production facilities, and a decrease in crude oil prices will hamper growth of the NOT and inspection market. There will be short-term negative impacts to market growth due to supply chain disruptions caused by the pandemic. Several production facilities worldwide have been shut down as a result of COVID-19.

Non-Destructive Inspection Equipment Market Segmentation

The global Non-Destructive Inspection Equipment Market has been segmented on the basis of Industry Vertical, and region.

The global Non-Destructive Inspection Equipment market, based on Industry Vertical, Non-Destructive Inspection Equipment is segmented into Railways & Transportation, Aerospace & Defense, Oil & Gas, Power & Energy, Healthcare, and Others.

The global Non-Destructive Inspection Equipment market, based on region is bifurcated into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Non-Destructive Inspection Equipment Market Key Players

Some of the prominent players operating in the global Non-Destructive inspection equipment market include Promag Technologies Development Limited, OKOndt GROUP, Labquip (Ireland) Limited, MFE Inspection Solutions, TWI Ltd, Stanlay, Nexxis, Non-Destructive Testing (NDT) Products Limited, Baker Hughes Company, Olympus Corporation, and Zetec, Inc.