[FURL=https://www.industryarc.com/Research/Ultrasonic-Ndt-Testing-Equipment-Market-Research-509467?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Ultrasonic NDT Testing Equipment Market[/FURL] The Global Ultrasonic NDT Testing Equipment market size accounted for $3.2 billion in 2020 and is anticipated to witness significant market growth with a CAGR of 5.6% during the forecast period 2021-2026. Inspections are becoming more difficult as manufacturers create more sophisticated parts than ever before. Manufacturers can examine and measure these complex components and assemblies at the pace of production with industrial non-destructive testing systems, allowing innovation to continue. The evolution of Ultrasonic fault detector Equipment in the global market has been fuelled by technical developments and widespread use in numerous applications. The growing requirement for flaw detectors equipment, thickness measurement equipment.Key Takeaways
Deployment of ultrasonic NDT testing solutions across oil and gas industry to simplify complex inspections, improve productivity and make refineries safer. Thus, rising utilisation across the oil and gas vertical enhance the market growth.
With the advent of Industry 4.0, trends such as Industrial IoT (IIoT), smart manufacturing, smart factory, predictive manufacturing, industrial robots, there is a rise in demand for NDT fault detection solutions which in turn enhance the market growth.
North America held the highest market share in 2020. The market growth is attributed to increased construction activities, infrastructure development and others. Moreover, the presence of key market players in this region also benefits the market growth.
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Ultrasonic NDT Testing Equipment market Segment Analysis - By Geography
North America region held the highest market share in 2020 of around 36%. The United States dominates the non-destructive testing equipment market in North America, owing to the widespread use of NDT testing equipment across numerous industries. Furthermore, the region's market expansion is aided by the availability of NDT testing equipment training institutions and the high rate of growth in the building and industrial sectors. As per the United States Census Bureau, the total construction spending including both private and public infrastructures increased to $ 1,364,565 million in July 2020 as compared to $1,362,823 million in June 2020.
Ultrasonic NDT Testing Equipment Market Drivers
Increase in use of advanced NDT equipment
Rising penetration of machine learning
Ultrasonic NDT Testing Equipment Market Landscape
Ultrasonic NDT Testing Equipment top 10 companies include Danatronics Corporation, Eddyfi NDT Inc., GE Inspection Technologies GmbH, James Instruments Inc., Ndt Systems Inc., Olympus America, Inc., PaR Systems LLC, Qualitest International Inc., Sonatest Ltd, Trinity NDT and among others.
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