The Asia Pacific Non Destructive Testing (NDT) Market is projected to grow at a CAGR of around 15% during 2023-28, citing a recent study published by MarkNtel Advisors. This report discusses extensively about the key growth factors, challenges, opportunities, restraints, market trends, & competitive landscape considering the following:
- Historical Period: 2018-2021
- Base Year: 2022
- Forecast Years: 2023-2028
- Units: USD Million/Billion
The report further sheds light on the latest developments by the leading companies in the Asia Pacific Non Destructive Testing (NDT) Market, their growth strategies, product portfolio, financials, & presence in different geographies. The major restraints that may pose risks to the market expansion in the forecast years are also covered in the study. Both primary & secondary research methods have been used to attain precise & thorough information.
Moreover, some useful insights on the unexplored opportunities and market challenges, along with notable suggestions to help companies prepare for unforeseen situations that may arise in the future are also presented in the study.
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Key Questions Answered in the Study:
- What is the estimated size, share, & CAGR of the Asia Pacific Non Destructive Testing (NDT) Market during 2023-28?
- What are the different segments & sub-segments considered in the Asia Pacific Non Destructive Testing (NDT) Market Research study?
- Who are the key stakeholders and players operating in the Asia Pacific Non Destructive Testing (NDT) Market?
- What are the key trends projected to affect Asia Pacific Non Destructive Testing (NDT) Market during 2023-28?
- What would be the impact of strategic developments on the Asia Pacific Non Destructive Testing (NDT) Market in the mid to long term?
Dynamic of Asia Pacific Non Destructive Testing (NDT) Market
Growth Driver – With the boom in tourism, the Asian wave, and other factors, the Aerospace industry is experiencing a continuous rise in the ASPAC region. The aerospace industry ensures the best quality structure, material, and strength standards, thus, implementing Non-Destructive Testing. Non Destructive Testing Industry would grow given the solemnity required in the industry to detect and avoid failures in surface, cracks, etc., which could lead to numerous risks, including fatal accidents. Furthermore, since aircraft components are highly susceptible to fatigue cracks that could become hazardous, continuous application and modification of the NDT industry are guaranteed, which would further grow the market.
Upcoming Challenges – NDT can only be profitable when done by high-valued, skilled and qualified professionals along with the help of advanced instrumentations. Furthermore, it requires high accuracy to find the flaws, leakages and troubleshooting to test advanced machinery. Thus, the need for more qualified and high-skilled professionals to operate the testing equipment and gather accurate results could restrain the industry’s growth. In addition, the higher cost of NDT training and certification hinders the market growth.
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Market Competitor Landscape:
This section of the study covers the key participants in the Asia Pacific Non Destructive Testing (NDT) Market, with information about their profiles, investments, market share, key strategies adopted, strengths & weaknesses, product/service launch, etc. All insights in this section are gathered after a thorough analysis of both the leading companies operating at a global level as well as the new entrants in the market.
- – Acuren Inspection, Inc. (Rockwood Service Corporation)
- – Applus Services, S.A.
- – Bureau Veritas S.A.
- – Fujifilm Corporation
- – Intertek Group Plc.
- – NCS Testing Technology Co., Limited
- – Nikon Metrology NV
- – Olympus Corporation
- – SGS Group
- – YXLON International Gmbh (COMET Group)
- – Others
The segmentation analysis comprises the size & volume of the Asia Pacific Non Destructive Testing (NDT) Market as per the below-cited segments & sub-segments to help our readers identify the major factors attributing to the industry’s growth and strategize their investments to expand the brand visibility, product portfolio, customer base, and generate significant profits during the forecast period.
- By Testing Technique (Ultrasonic Testing, Visual Inspection Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiography Testing, Acoustic Emission Testing)
- By Method (Visual Inspection, Surface Inspection, Volumetric Inspection)
- By End User (Manufacturing, Oil & Gas, Automotive, Construction, Power Generation, Aerospace & Defense, Others (Public Infrastructure, etc.))
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Market Geographical Data
On the geographical front, the Asia Pacific Non Destructive Testing (NDT) industry expands across countries:
- South Korea
- Rest of Asia Pacific
Here Japan dominates the Asia-Pacific non-destructive testing equipment market owing to the region’s domestic manufacturing industry and technological advancements. Furthermore, growing market players, such as Nikon Metrology NV and Olympus Corporation, are anticipated to fuel the regional market growth projection during the forecasting period.
Full Table of Content
- Product Definition
- Research Process
- Market Segmentation
- Executive Summary
- Impact of COVID-19 on Asia Pacific Non Destructive Testing (NDT) Market
- Asia Pacific Non Destructive Testing (NDT) Market Trends & Insights
- Asia Pacific Non Destructive Testing (NDT) Market Dynamics
- Asia Pacific Non Destructive Testing (NDT) Market Hotspots & Opportunities
- Asia Pacific Non Destructive Testing (NDT) Market Outlook, 2018-2028
Key Scope of This Report:
- The “Asia Pacific Non-Destructive Testing (NDT) Market Research Report Analysis, 2023” intends to deliver an extensive & precise analysis of the changing dynamics of the industry during 2023-28 in order to help stakeholders identify key growth prospects in the future.
- Impact of recent developments on the market growth trajectory.
- Key operations, crucial tactics, and upcoming projects of the key competitors in the Asia Pacific Non Destructive Testing (NDT) Market.
- Accurate & trustworthy insights to assess the benefits & drawbacks of investing in the industry across different geographies.
- Supply-demand gaps, import-export figures, and the regulatory landscape of different regions/countries are discussed in the Asia Pacific Non Destructive Testing (NDT) Market report.
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