Asia-Pacific Non-Destructive Testing Equipment Market, By Type (Radiography Testing Equipment, Ultrasonic Testing Equipment, Magnetic Particle Testing Equipment, Liquid Penetrant Testing Equipment, Visual Inspection Equipment, Eddy Current Equipment, Other Technologies), Method (Visual Inspection, Surface Inspection, Volumetric Inspection), Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), Vertical (Manufacturing, Oil and Gas, Aerospace and Defence, Public Infrastructure, Automotive, Power Generation), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific)- Industry Trends and Forecast to 2029
The non-destructive testing equipment market is expected to witness market growth at a rate of 6.05% in the forecast period of 2022 to 2029. Data Bridge Market Research report on non-destructive testing equipment market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in healthcare sector globally is escalating the growth of non-destructive testing equipment market.
Non-destructive testing (NDT) instruments are defined as the instruments that are utilized for scanning, corrosions, inspecting, and quantifying flaws, and other material conditions without permanently altering or damaging the examined product or part. NDT equipment consist set of equipment, such as visual inspection devices, thickness gages, eddy current instruments, flaw detectors, material condition testers and acoustic emission testers, among others.
The presence of stringent safety government regulations across the region acts as one of the major factors driving the growth of non-destructive testing equipment market. The presence of wide advantages over applications, such as in automotive, aerospace (inspecting the aircraft), maintaining quality assurance, and others, and rise in need for extending the life of obsolete infrastructure accelerate the market growth. The growth as end-user industries, such as automotive, oil and gas, and construction and need for maintenance optimization for efficient operations and quality/safety assurance further influence the market. Additionally, growth of e-commerce and retail sector, growth in population, new power generation projects, rapid urbanization and digitization, and surge in disposable income positively affect the non-destructive testing equipment market. Furthermore, demand for third-party inspection service providers and technological advancements extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, lack of qualified technicians and high cost associated with the equipment are expected to obstruct the market growth. Lack of awareness about new NDT inspection methods is projected to challenge the non-destructive testing equipment market in the forecast period of 2022-2029.
This non-destructive testing equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on non-destructive testing equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Non-Destructive Testing Equipment Market Scope and Market Size
The non-destructive testing equipment market is segmented on the basis of type, method, services, and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the non-destructive testing equipment market is segmented into ultrasonic testing, visual testing, magnetic particle testing, liquid penetrant testing, eddy current testing, radiographic testing, and acoustic emission testing.
- On the basis of method, the non-destructive testing equipment market is segmented into visual inspection, surface inspection, and volumetric inspection.
- On the basis of services, the non-destructive testing equipment market has been segmented into inspection services, equipment rental services, calibration services, and training services.
- On the basis of vertical, the non-destructive testing equipment market has been segmented into manufacturing, oil and gas, aerospace and defence, public infrastructure, automotive, and power generation.
Asia-Pacific Non-Destructive Testing Equipment Market Country Level Analysis
The non-destructive testing equipment market is analyzed and market size insights and trends are provided by country, type, method, services, and vertical as referenced above.
The countries covered in the Asia-Pacific non-destructive testing equipment market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Japan dominates the Asia-Pacific non-destructive testing equipment market owning to the technological advancements in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Non-Destructive Testing Equipment Market Share Analysis
The non-destructive testing equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to non-destructive testing equipment market.
Some of the major players operating in the non-destructive testing equipment market report are GENERAL ELECTRIC COMPANY, Fujilim Corporation, Ashtead Group plc, MISTRAS Group plc, Nikon Corporation, Sonatest, Bosello High Technology srl, SOCOMORE, Zetex, Inc., and Magnaflux, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.