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Global Non-destructive Testing (NDT) Equipment Growth Opportunities—Forecast to 2028
Global Non-destructive Testing (NDT) Equipment Growth Opportunities—Forecast to 2028
The Post-pandemic Major Recovery in Operations and the Growth of the Composite Materials Market Fuel NDT Equipment Growth
RELEASE DATE
23-Dec-2022
23-Dec-2022
REGION
Global
Global
Deliverable Type
Market Research
Market Research
Research Code: K554-01-00-00-00
SKU: TM00721-GL-MT_27332
$4,950.00
Special Price $4,207.50 save 15 %
In stock
SKU
TM00721-GL-MT_27332
COVID-19 brought about major changes for companies and industries globally, followed by a recovery of operations in 2021. 2022 began with the war between Russia and Ukraine, which created fears of a global recession and inflation, resulting in uncertainties among manufacturers to plan future investments. While Europe is likely to be affected more, other regions will also be impacted.
This Frost & Sullivan study indicates that the market size was $2.91 billion in 2021, with a base year growth rate of 8.7%; by 2028, the market is likely to grow up to $4.34 billion, globally. In terms of regions, NALA accounts for the largest market share; however, APAC looks promising with the highest CAGR of 6.4%. This is because of high-growth industries in the region, including power generation, automotive, and electronics. Europe will be the slowest to recover with moderate growth during the forecast period due to the lingering fear of an imminent recession. In general, the energy crisis, supply chain disruptions, and uncertainties in CAPEX investments are some of the factors that could slow down the growth of this market. However, trends such as the increased use of composite materials and advancements in electronics and components that use emerging NDT techniques, such as THz, IR, laser shearography, and TFM, with enhanced testing capabilities, are expected to drive market growth.
Author: Srividhya Murali
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Global Non-destructive Testing (NDT) Equipment Market
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Scope of Analysis (continued)
Key Competitors
Growth Metrics
Distribution Channels
Growth Drivers
Growth Driver Analysis
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Restraints
Growth Restraint Analysis
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Forecast Assumptions
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Country—NALA
Revenue Forecast by Country—Europe
Revenue Forecast by Country—APAC
Revenue Forecast by Country—MEA
Revenue Forecast by Industry Vertical
Revenue Forecast by Technology
Revenue Forecast Analysis
Growth Metrics—Ultrasonic Test Equipment
Revenue Forecast—Ultrasonic Test Equipment
Revenue Forecast by Region—Ultrasonic Test Equipment
Revenue Forecast by Industry Vertical—Ultrasonic Test Equipment
Revenue Forecast by Technology—Ultrasonic Test Equipment
Revenue Forecast—Portable Ultrasonic Test Equipment
Revenue Forecast by Region—Portable Ultrasonic Test Equipment
Revenue Forecast by Industry Vertical—Portable Ultrasonic Test Equipment
Revenue Forecast Analysis —Portable Ultrasonic Test Equipment
Revenue Forecast—Automated Ultrasonic Test Equipment
Revenue Forecast by Region—Automated Ultrasonic Test Equipment
Revenue Forecast by Industry Vertical—Automated Ultrasonic Test Equipment
Revenue Forecast Analysis—Automated Ultrasonic Test Equipment
Competitive Environment—Ultrasonic Test Equipment
Revenue Share—Ultrasonic Test Equipment
Revenue Share Analysis—Ultrasonic Test Equipment
Growth Metrics
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Industry Vertical
Revenue Forecast Analysis
Competitive Environment
Revenue Share
Revenue Share Analysis
Growth Metrics—Radiography Test Equipment
Revenue Forecast—Radiography Test Equipment
Revenue Forecast by Region—Radiography Test Equipment
Revenue Forecast by Industry Vertical—Radiography Test Equipment
Revenue Forecast by Technology—Radiography Test Equipment
Revenue Forecast—Field Radiography Test Equipment
Revenue Forecast by Region—Field Radiography Test Equipment
Revenue Forecast by Industry Vertical—Field Radiography Test Equipment
Revenue Forecast Analysis—Field Radiography Test Equipment
Revenue Forecast—Lab Radiography Test Equipment
Revenue Forecast by Region—Lab Radiography Test Equipment
Revenue Forecast by Industry Vertical—Lab Radiography Test Equipment
Revenue Forecast Analysis—Lab Radiography Test Equipment
Revenue Forecast Analysis—Lab Radiography Test Equipment (continued)
Revenue Forecast—Film Radiography Test Equipment
Revenue Forecast by Region—Film Radiography Test Equipment
Revenue Forecast by Industry Vertical—Film Radiography Test Equipment
Revenue Forecast Analysis—Film Radiography Test Equipment
Revenue Forecast Analysis—Film Radiography Test Equipment (continued)
Competitive Environment—Radiography Test Equipment
Revenue Share—Radiography Test Equipment
Revenue Share Analysis—Radiography Test Equipment
Revenue Share Analysis—Radiography Test Equipment (continued)
Growth Metrics
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast Industry Vertical
Revenue Forecast Analysis
Competitive Environment
Revenue Share
Revenue Share Analysis
Growth Metrics
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Industry Vertical
Revenue Forecast Analysis
Revenue Forecast Analysis (continued)
Competitive Environment
Revenue Share
Revenue Share Analysis
Growth Opportunity 1: Energy Storage and Hydrogen Fuel Cells
Growth Opportunity 1: Energy Storage and Hydrogen Fuel Cells (continued)
Growth Opportunity 2: Submersible/Underwater Crawlers and Wastewater Sewers
Growth Opportunity 2: Submersible/Underwater Crawlers and Wastewater Sewers (continued)
Growth Opportunity 3: Immersion Tanks
Growth Opportunity 3: Immersion Tanks (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
Purchase includes:
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Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
COVID-19 brought about major changes for companies and industries globally, followed by a recovery of operations in 2021. 2022 began with the war between Russia and Ukraine, which created fears of a global recession and inflation, resulting in uncertainties among manufacturers to plan future investments. While Europe is likely to be affected more, other regions will also be impacted.
This Frost & Sullivan study indicates that the market size was $2.91 billion in 2021, with a base year growth rate of 8.7%; by 2028, the market is likely to grow up to $4.34 billion, globally. In terms of regions, NALA accounts for the largest market share; however, APAC looks promising with the highest CAGR of 6.4%. This is because of high-growth industries in the region, including power generation, automotive, and electronics. Europe will be the slowest to recover with moderate growth during the forecast period due to the lingering fear of an imminent recession. In general, the energy crisis, supply chain disruptions, and uncertainties in CAPEX investments are some of the factors that could slow down the growth of this market. However, trends such as the increased use of composite materials and advancements in electronics and components that use emerging NDT techniques, such as THz, IR, laser shearography, and TFM, with enhanced testing capabilities, are expected to drive market growth.
Author: Srividhya Murali
| Deliverable Type | Market Research |
|---|---|
| Author | Srividhya Murali |
| Industries | Test and Measurement Instrumentation |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Non-Destructive Testing Market |
| Keyword 2 | Non-Destructive Testing Equipment Market |
| Keyword 3 | NDT Market |
| Podcast | No |
| WIP Number | K554-01-00-00-00 |