Request Sample Inquiry
Non-Destructive Testing Equipment Market

Non-Destructive Testing Equipment Market

Non-Destructive Testing Equipment Market Global Industry Assessment & Forecast

# Pages:

160

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0294

Segments Covered
  • By Type X-Ray, Ultrasonic, Magnetic particle, Penetrant flaw detection, Eddy current test, Other
  • By Application Oil and gas, Automotive, Aerospace, Other
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 2,058 Million
Revenue 2028Revenue 2028: 3,042.30
Revenue CAGRRevenue CAGR (2022 - 2028): 7.2
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Non-Destructive Testing Equipment market was valued at USD 2,058 Million in 2020 and is projected to reach USD 3,042.30 by 2028, growing at a CAGR of 7.2% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2028
Annual Market Size (2028) $3,042.30
Annual Market Size (2021)
CAGR (2021 - 2028) 7.2%

Overview and Description

NDT (Non-Destructive Testing) refers to an array of inspection techniques that allow inspectors to collect data about a material without damaging the specimen. It refers to an array of inspection methods that allow inspectors to evaluate and collect data about a material, system, or component without permanently altering it.


This report provides an analysis of the Non-Destructive Testing Equipment market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers a thorough insights on various tools such as SWOT analysis, PEST analysis, value chain analysis, Porter’s five forces analysis, pricing analysis, and technology roadmap among others. These assessments aid the industry stakeholders to analyze the Non-Destructive Testing Equipment market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.

Yearly Infographics 2,058 Million 3,042.30

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. The Non-Destructive Testing Equipment market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:


o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The report covers exhaustive analysis on the global Non-Destructive Testing Equipment industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.


The rise in environmental and population safety considerations causes high-quality models in the products, this tendency in the products is increasing the demand for Non-Destructive Testing Equipment Market.

Increasing emphasis on energy efficiency, energy recovery, and reduction of CO2 emissions is driving the Non-Destructive Testing Equipment Market. 

The cost of raw materials is steadily increasing thus leading to a shift in the type of raw material usage is hindering the Non-Destructive Testing Equipment Market.

Global Non-Destructive Testing Equipment Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Type, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Aolong, Zetec, Magnaflux, Hongxu, Mistras, Olympus Corporation, Union, Proceq, Runqi, IDEA, Siui, Karl deutsch, Nikon Metrology NV, YXLON, Sonatest, Quanrui, GE Measurement & Control, Huari, Zhongke Innovation, Dndt.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Type, Application, and region. The report will cover market estimations and forecast for each segment by region for the years 20156–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Type, the market is divided into X-Ray, Ultrasonic, Magnetic particle, Penetrant flaw detection, Eddy current test, Other. Lorry Tank held the largest share in 2020 and is projected to witness substantial growth during the forecast period.

Based on Application, the market is divided into Oil and gas, Automotive, Aerospace, Other. Energy & Mining attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Global Non-Destructive Testing Equipment Market: Type Segment Analysis

    • X-Ray
    • Ultrasonic
    • Magnetic particle
    • Penetrant flaw detection
    • Eddy current test
    • Other

Global Non-Destructive Testing Equipment Market: Application Segment Analysis

    • Oil and gas
    • Automotive
    • Aerospace
    • Other

Regional Analysis: Preview

Based on the geography, the global Non-Destructive Testing Equipment market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2016–2028. The regional analysis section also provides qualitative analysis comprising of regional trends such as drivers, restraints, opportunities and regulatory norms. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market. 

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Non-Destructive Testing Equipment Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The global Non-Destructive Testing Equipment market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Non-Destructive Testing Equipment market are Aolong, Zetec, Magnaflux, Hongxu, Mistras, Olympus Corporation, Union, Proceq, Runqi, IDEA, Siui, Karl deutsch, Nikon Metrology NV, YXLON, Sonatest, Quanrui, GE Measurement & Control, Huari, Zhongke Innovation, Dndt.. This section of the report comprising of a thorough profiling of companies based on various parameters such as company/business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.  

FAQ
Frequently Asked Question
  • The global Non-Destructive Testing Equipment valued at 2,058 Million in 2020 and is expected to reach 3,042.30 in 2028 growing at a CAGR of 7.2%.

  • The prominent players in the market are Aolong, Zetec, Magnaflux, Hongxu, Mistras, Olympus Corporation, Union, Proceq, Runqi, IDEA, Siui, Karl deutsch, Nikon Metrology NV, YXLON, Sonatest, Quanrui, GE Measurement & Control, Huari, Zhongke Innovation, Dndt..

  • The market is project to grow at a CAGR of 7.2% between 2021 and 2028.

  • The driving factors of the Non-Destructive Testing Equipment include

    • The rise in environmental and population safety considerations causes high-quality models in the products, this tendency in the products is increasing the demand for Non-Destructive Testing Equipment Market.
    • Increasing emphasis on energy efficiency, energy recovery, and reduction of CO2 emissions is driving the Non-Destructive Testing Equipment Market.

  • Asia Pacific was the leading regional segment of the Non-Destructive Testing Equipment in 2020.