The Post-pandemic Major Recovery in Operations and the Growth of the Composite Materials Market Fuel NDT Equipment Growth
COVID-19 brought about major changes for companies and industries globally, followed by a recovery of operations in 2021. 2022 began with the war between Russia and Ukraine, which created fears of a global recession and inflation, resulting in uncertainties among manufacturers to plan future investments. While Europe is likely to be affected more, other regions will also be impacted.
This study indicates that the market size was $2.91 billion in 2021, with a base year growth rate of 8.7%; by 2028, the market is likely to grow up to $4.34 billion, globally. In terms of regions, NALA accounts for the largest market share; however, APAC looks promising with the highest CAGR of 6.4%. This is because of high-growth industries in the region, including power generation, automotive, and electronics. Europe will be the slowest to recover with moderate growth during the forecast period due to the lingering fear of an imminent recession. In general, the energy crisis, supply chain disruptions, and uncertainties in CAPEX investments are some of the factors that could slow down the growth of this market. However, trends such as the increased use of composite materials and advancements in electronics and components that use emerging NDT techniques, such as THz, IR, laser shearography, and TFM, with enhanced testing capabilities, are expected to drive market growth.
Table of Contents
1 Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Global Non-destructive Testing (NDT) Equipment Market
- Growth Opportunities Fuel the Growth Pipeline Engine™
2 Growth Opportunity Analysis
- Scope of Analysis
- Key Competitors
- Growth Metrics
- Distribution Channels
- Growth Drivers
- Growth Driver Analysis
- Growth Restraints
- Growth Restraint Analysis
- Forecast Assumptions
- Revenue Forecast
- Revenue Forecast by Region
- Revenue Forecast by Country - NALA
- Revenue Forecast by Country - Europe
- Revenue Forecast by Country - APAC
- Revenue Forecast by Country - MEA
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Technology
- Revenue Forecast Analysis
3 Growth Opportunity Analysis: Ultrasonic Test Equipment
- Growth Metrics - Ultrasonic Test Equipment
- Revenue Forecast - Ultrasonic Test Equipment
- Revenue Forecast by Region - Ultrasonic Test Equipment
- Revenue Forecast by Industry Vertical - Ultrasonic Test Equipment
- Revenue Forecast by Technology - Ultrasonic Test Equipment
- Revenue Forecast - Portable Ultrasonic Test Equipment
- Revenue Forecast by Region - Portable Ultrasonic Test Equipment
- Revenue Forecast by Industry Vertical - Portable Ultrasonic Test Equipment
- Revenue Forecast Analysis - Portable Ultrasonic Test Equipment
- Revenue Forecast - Automated Ultrasonic Test Equipment
- Revenue Forecast by Region - Automated Ultrasonic Test Equipment
- Revenue Forecast by Industry Vertical - Automated Ultrasonic Test Equipment
- Revenue Forecast Analysis - Automated Ultrasonic Test Equipment
- Competitive Environment - Ultrasonic Test Equipment
- Revenue Share - Ultrasonic Test Equipment
- Revenue Share Analysis - Ultrasonic Test Equipment
4 Growth Opportunity Analysis: Magnetic and Electromagnetic Test Equipment
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Region
- Revenue Forecast by Industry Vertical
- Revenue Forecast Analysis
- Competitive Environment
- Revenue Share
- Revenue Share Analysis
- Growth Opportunity Analysis: Radiography Test Equipment
- Growth Metrics - Radiography Test Equipment
- Revenue Forecast - Radiography Test Equipment
- Revenue Forecast by Region - Radiography Test Equipment
- Revenue Forecast by Industry Vertical - Radiography Test Equipment
- Revenue Forecast by Technology - Radiography Test Equipment
- Revenue Forecast - Field Radiography Test Equipment
- Revenue Forecast by Region - Field Radiography Test Equipment
- Revenue Forecast by Industry Vertical - Field Radiography Test Equipment
- Revenue Forecast Analysis - Field Radiography Test Equipment
- Revenue Forecast - Lab Radiography Test Equipment
- Revenue Forecast by Region - Lab Radiography Test Equipment
- Revenue Forecast by Industry Vertical - Lab Radiography Test Equipment
- Revenue Forecast Analysis - Lab Radiography Test Equipment
- Revenue Forecast - Film Radiography Test Equipment
- Revenue Forecast by Region - Film Radiography Test Equipment
- Revenue Forecast by Industry Vertical - Film Radiography Test Equipment
- Revenue Forecast Analysis - Film Radiography Test Equipment
- Competitive Environment - Radiography Test Equipment
- Revenue Share - Radiography Test Equipment
- Revenue Share Analysis - Radiography Test Equipment
5 Growth Opportunity Analysis: Remote Visual Inspection
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Region
- Revenue Forecast Industry Vertical
- Revenue Forecast Analysis
- Competitive Environment
- Revenue Share
- Revenue Share Analysis
6 Growth Opportunity Analysis: Inspection Robots
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Region
- Revenue Forecast by Industry Vertical
- Revenue Forecast Analysis
- Competitive Environment
- Revenue Share
- Revenue Share Analysis
7 Growth Opportunity Universe
- Growth Opportunity 1: Energy Storage and Hydrogen Fuel Cells
- Growth Opportunity 2: Submersible/Underwater Crawlers and Wastewater Sewers
- Growth Opportunity 3: Immersion Tanks
8 Next Steps
- Your Next Steps
- About the Publisher
- List of Exhibits
- Legal Disclaimer
