Ultrasonic NDT Equipment Market Research Report- Global Forecast 2027

Global Ultrasonic NDT Equipment Market, By End-User (Oil & Gas Industry, Power Generation, Aerospace and defense sector, Automotive and Transportation industry), By Geography (North-America, Europe, Asia-Pacific, RoW) - Forecast 2027

ID: MRFR/SEM/2443-CR | May, 2017 | Region : Global

Market Synopsis of Global Ultrasonic NDT Equipment Market:


Market Scenario:


The global ultrasonic NDT equipment market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the ultrasonic NDT equipment market is influenced by the expansion in the aerospace & defense sector, growth in the wind energy sector and emergence of new avenues for natural gas market. Furthermore, growth in the electrical vehicle sales, use of array equipment in radiography and the need for customization of ultrasonic NDT equipment are the factors expected to boost the growth of the market over the forecast period. However, lack of skilled manpower, rise in pipeline sabotage threats are the factors hindering the growth of ultrasonic NDT equipment market.


The global Ultrasonic NDT Equipment market is expected to reach USD 2.47 billion by the end of 2023 with 9.87% CAGR during forecast period 2017-2023


Key Players 


The prominent players in the market of Ultrasonic NDT Equipment 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.


Segments:


Global Ultrasonic NDT Equipment Market, End-User



  • Oil & Gas Industry

  • Power Generation

  • Aerospace and defense sector

  • Automotive and Transportation industry


Global Ultrasonic NDT Equipment Market, By Region



  • North America

  • Europe

  • Asia Pacific

  • RoW


Regional Analysis:


North America was the largest market for ultrasonic NDT equipment market due to increasing focus by automotive manufacturers to increase its production processes in U.S. Among other countries in North-America, U.S. is dominating the ultrasonic NDT equipment and Canada is expected to grow over the forecast period whereas Europe is growing at a stable rate over the forecast period with a CAGR of 8.77% from 2017 to 2023. The region is attributed to the increasing safety regulations, rapid prototyping and industrialization among others. Also, the expansion in the aerospace and defense sector is expected to boost the market. Whereas, factors such as lack of skilled workforce and the equipment being expensive for testing are stopping the market to grow in the European region.


 


Global Ultrasonic NDT Equipment Market, By Region (USD Million)


Ultrasonic NDT Equipment Market 


Intended Audience



  • Ultrasonic NDT Equipment Manufacturers

  • Distributors

  • Research firms

  • Consultancy firms

  • Vendors

  • Semiconductor Manufacturers

  • Stakeholders

  • End-user sectors

  • Technology Investors

1 Executive Summary

1.1 Key Market Highlights 9

2 Scope of the Report

2.1 Market overview 10

2.2 Scope of the Study 10

2.3 Assumptions 10

2.4 Market Structure 10

2.5 Top Vendor Offerings 11

3 Market Research Methodology

3.1 Research Process 13

3.2 Primary Research 14

3.3 Secondary Research 14

3.4 Market Size Estimation 14

3.5 Forecast Model 15

4 Market Dynamics

4.1 Introduction 16

4.2 Drivers 17

4.2.1 Expanding aerospace and defense sector 17

4.2.2 Growth in wind energy market 18

4.2.3 Emergence of new avenues for natural gas market 20

5 Challenges

5.1 Necessity for price-sensitive and multiple-technology solutions 21

5.2 Lack of skilled manpower 21

5.3 Approval of different standards to use new technology 21

5.4 Rise in pipeline sabotage threats 21

6 Impact of Drivers and Challenges

7 Trends

7.1 Growth In Electrical Vehicle Sales 23

7.2 Use of Phased Array Equipment in Lieu of Radiography 25

7.3 Miniaturization and Need for Customization of Ultrasonic NDT Equipment 25

7.4 Ultrasonic Testing for Case-Hardened Components and Laser-Welded Tailored Blanks 25

7.5 Porter’s Five Forces Analysis 25

7.5.1 Introduction 25

8 Ultrasonic NDT Equipment Market, By End-User

8.1 Overview 27

8.1.1 Oil & Gas Industry 28

8.1.2 Power Generation 30

8.1.3 Aerospace and defense sector 35

8.1.4 Automotive and Transportation industry 37

8.1.5 Others 38

9 Geographical Segmentation

9.1 Introduction 40

9.2 North-America 41

9.3 Europe 43

9.4 Asia-Pacific 46

9.5 Rest of the World 48

10 Vendor Landscape

10.1 Competitive Scenario 50

10.2 Other Prominent Vendors 51

11 Key Vendor Analysis

1.1 GE Inspection Technologies 52

11.1.1 Overview 52

11.1.2 Product/Services Offering 52

11.1.3 Strategy 53

11.1.4 SWOT Analysis 54

11.2 Olympus Corporation 55

11.2.1 Overview 55

11.2.2 Product/Services Offering 55

11.2.3 Strategy 56

11.2.4 SWOT Analysis 57

11.3 Sonatest 58

11.3.1 Overview 58

11.3.2 Product/Services Offering 58

11.4 Danatronics 59

11.4.1 Overview 59

11.4.2 Product/Services Offering 59

11.5 Eddyfi 60

11.5.1 Overview 60

11.5.2 Product/Services Offering 60

11.6 James Instruments 61

11.6.1 Overview 61

11.6.2 Product/Services Offering 61

11.7 NDT Systems 62

11.7.1 Overview 62

11.7.2 Product/Services Offering 62

11.8 PaR Systems 64

11.8.1 Overview 64

11.8.2 Product/Services Offering 64

11.9 Qualitest International 65

11.9.1 Overview 65

11.9.2 Product/Services Offering 65

11.10 Trinity NDT 67

11.10.1 Overview 67

11.10.2 Product/Services Offering 67

12 Appendix

12.1 List of abbreviations 68

13 List of Tables

TABLE 1 KEY COUNTRIES IN EACH REGION 11

TABLE 2 TOP VENDOR OFFERINGS 11

TABLE 3 ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 27

TABLE 4 OIL & GAS INDUSTRY MARKET, BY REGION (USD MILLION) 28

TABLE 5 POWER GENERATION MARKET, BY REGION (USD MILLION) 30

TABLE 6 BENEFITS OF NUCLEAR POWER 32

TABLE 7 POWER REACTORS UNDER CONSTRUCTION 32

TABLE 8 AEROSPACE & DEFENSE SECTOR MARKET, BY REGION (USD MILLION) 35

TABLE 9 AUTOMOTIVE & TRANSPORTATION INDUSTRY MARKET, BY REGION (USD MILLION) 37

TABLE 10 OTHERS MARKET, BY REGION (USD MILLION) 38

TABLE 11 GLOBAL ULTRASONIC NDT EQUIPMENT MARKET, BY REGION (USD MILLION) 40

TABLE 12 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 41

TABLE 13 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 42

TABLE 14 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 44

TABLE 15 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 45

TABLE 16 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 46

TABLE 17 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 47

TABLE 18 REST OF THE WORLD ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 49


14 List of Figures

FIGURE 1 MARKET RESEARCH FUTURE RESEARH PROCESS 13

FIGURE 2 DRIVERS, CHALLENGES AND TRENDS 16

FIGURE 3 DRIVERS & CHALLENGES 17

FIGURE 4 WORLDWIDE AIRCRAFT PRODUCTION, 2020-2027 18

FIGURE 5 MAJOR DRIVERS FOR AEROSPACE AND DEFENSE 18

FIGURE 6 WORLD RENEWABLE ENERGY CONSUMPTION (% OF TOTAL FINAL ENERGY CONSUMPTION), 2020-2027 19

FIGURE 7 GLOBAL CUMULATIVE WIND INSTALLED CAPACITY 2020-2020 (GW) 19

FIGURE 8 GLOBAL CUMULATIVE OFFSHORE WIND INSTALLATION CAPACITY 2020-2027 (MW) 20

FIGURE 9 IMPACT OF DRIVERS AND CHALLENGES 22

FIGURE 10 WORLD ELECTRICAL VEHICLES PRODUCTION (2020) 23

FIGURE 11 US PHEV CAR SALES 2020-2027 (SALES IN THOUSANDS) 24

FIGURE 12 GLOBAL EV SALES OUTLOOK 2020-2027 (MILLIONS OF UNITS) 24

FIGURE 13 GLOBAL ULTRASONIC NDT EQUIPMENT MARKET: PORTER’S FIVE FORCES ANALYSIS 26

FIGURE 14 ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 28

FIGURE 15 OIL & GAS INDUSTRY MARKET, BY REGION (USD MILLION) 29

FIGURE 16 PIPELINE TRANSPORTATION 29

FIGURE 17 ROAD TANKER TRANSPORTATION 30

FIGURE 18 POWER GENERATION MARKET, BY REGION (USD MILLION) 31

FIGURE 19 GLOBAL ELECTRICITY GENERATION BY SOURCE (2020) 31

FIGURE 20 GLOBAL POWER OUTLOOK 34

FIGURE 21 SOURCE OF POWER, 2020 34

FIGURE 22 AEROSPACE & DEFENSE SECTOR MARKET, BY REGION (USD MILLION) 36

FIGURE 23 GLOBAL COMMERCIAL AIRCRAFT DELIVERY 2020-2034 36

FIGURE 24 AUTOMOTIVE & TRANSPORTATION INDUSTRY MARKET, BY REGION (USD MILLION) 38

FIGURE 25 OTHERS MARKET, BY REGION (USD MILLION) 39

FIGURE 26 GLOBAL ULTRASONIC NDT EQUIPMENT MARKET, BY REGION (USD MILLION) 41

FIGURE 27 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 42

FIGURE 28 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 43

FIGURE 29 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 44

FIGURE 30 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 45

FIGURE 31 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 47

FIGURE 32 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 48

FIGURE 33 REST OF THE WORLD ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 49

Ultrasonic NDT Equipment Market