Global Nondestructive Testing (NDT) Equipment Market 2021-2025

Global Nondestructive Testing Equipment Market 2021-2025

Technavio has been monitoring the nondestructive testing equipment market and it is poised to grow by $ 6.14 bn during 2021-2025, progressing at a CAGR of 10% during the forecast period. Our reports on nondestructive testing equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increase in number of oil and gas and power generation projects and growing demand for RVI in aerospace industry. In addition, increase in number of oil and gas and power generation projects is anticipated to boost the growth of the market as well.

The nondestructive testing equipment market analysis includes product segment, end-user segment and geographical landscapes.

Technavio's nondestructive testing equipment market is segmented as below:

By Product

• Ultrasonic
• Radiography
• Visual
• Others

By End-user

• Oil and gas
• Power generation
• Aerospace
• Automotive
• Others

By Geographical Landscapes

• North America
• Europe
• APAC
• MEA
• South America

This study identifies growing regulatory compliance requirements for preventing accidents as one of the prime reasons driving the nondestructive testing equipment market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on nondestructive testing equipment market covers the following areas:

• Nondestructive testing equipment market sizing
• Nondestructive testing equipment market forecast
• Nondestructive testing equipment market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading nondestructive testing equipment market vendors that include Carl Zeiss AG, Eddyfi NDT Inc., FUJIFILM Holdings Corp., General Electric Co., Illinois Tool Works Inc., Mistras Group Inc., Nikon Corp., Olympus Corp., Roper Technologies Inc., and YXLON International GmbH. Also, the nondestructive testing equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.