Ultrasonic Non-Destructive Testing (NDT) Equipment Market Analysis
Ultrasonic Non-destructive Testing (NDT) Equipment Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Ultrasonic testing is type of non-destructive inspection equipment that helps detecting the discontinuity in the sample material without harming the material. This methodology utilizes high frequency sound incidence on the material of the frequency ranging around 500 KHz-200 MHz to conduct examinations and measurements. Owing to the requirement of NDT in industries that include oil & gas, power generation, aerospace & defense, automotive and transportation and fabrication industries.
Fast and accurate volumetric and discontinuity at affordable costs are expected to be the primary growth drivers for increased adoption
In comparison to other alternative radiography examination methodologies, this technology is relatively safer and less time consuming. Less ownership costs, fast throughputs, better detection capability and usability even in non-screened off areas are anticipated to provide increased application in end use industries. Moreover, these also help in examining the internal structure and thickness, in conjunction with highly reliable results are few additional advantages that will drive the ultrasonic non-destructive testing equipment market over the forecast period.
Ultrasonic Non-Destructive Testing (NDT) Market Taxonomy
On the basis of equipment, the global ultrasonic non-destructive testing (NDT) market is classified into:
On the basis of component, the global ultrasonic non-destructive testing (NDT) market is classified into:
On the basis of end use industry, the global ultrasonic non-destructive testing (NDT) market is classified into:
On the basis of regions, the global ultrasonic non-destructive testing (NDT) market is classified into:
Natural gas exploration is anticipated to be the most prominent factor contributing to the overall growth of the industry
Increasing usage of fossil fuels has led to an exponential surge in hydrocarbon acquisition costs and has also led to paradigm shift of the exploration activities. This has led to increased focus on the oil & gas production and exploration companies on identifying additional avenues of exploration. Moreover, according to Coherent Market Insights, utilization of natural gas is expected to register significant demand growth over the forecast period, which will in turn boost the growth of ultrasonic non-destructive testing equipment market growth, primarily for the examination of gas pipeline properties without causing any physical damage.
Lack of skilled workforce to handle the operations is expected to majorly hamper the industry growth over the forecast period
Manual flaw examination requires close scrutiny by the experienced technicians. Requirement to undergo extensive training in order to gain appropriate knowledge and experience regarding the usage is expected to present substantial challenge to the business growth. Moreover, lack of discontinuity detection in case non homogenous and irregular shapes, and discontinuity in the immediate layer below the surface is still a prominent limitation, which is expected to hamper the overall ultrasonic non-destructive testing equipment market over the forecast period.
Making the software and user interface (UI) intuitive and enhancing the training the workforce for such technologies may help the participants counter the drawback of skilled workforce, however, technical limitations are expected to continue to impact the overall growth.
Among end-use industry segments, the oil and gas industry accounted for the largest market share and are is expected to continue its dominance over the next few years. They find various applications in different oil and gas exploration phases such as refining, transportation and in manufacturing of several related equipment parts that includes pressure vessels, boilers, reactors, heat exchangers, and storage tanks. Growing investments in pipeline transportation and upstream activities will propel the growth of ultrasonic non-destructive testing equipment market during the next few years.
Global Ultrasonic Non-destructive Testing (NDT) Equipment Market: Key Players
Major players operating in the global ultrasonic non-destructive testing (NDT) equipment market includes, Olympus, GE Inspection Technologies, Sonatest, Danatronics, James Instruments, Eddyfi, NDT Systems, Qualitest International, PaR Systems, and Trinity NDT.
Global Ultrasonic Non-destructive Testing (NDT) Equipment Market: Key Developments