Market Overview:
The global weld inspection equipment market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for weld inspection equipment from various end-use industries, such as oil and gas, industrial, aerospace, automotive and others. In addition, the increasing awareness about safety and quality standards is also driving the demand for weld inspection equipment globally. Based on type, radiography testing is expected to hold a major share of the global weld inspection equipment market during the forecast period. This can be attributed to its ability to detect discontinuities in thick materials effectively.
Product Definition:
Weld inspection equipment is used to inspect welds for defects. The importance of weld inspection equipment is that it helps ensure the quality of the welds, which can affect the structural integrity of a structure.
Radiography Testing:
Radiography testing is a diagnostic medical procedure used to create images of internal body organs or tissues using X-rays. The test is performed by placing the patient under a large X-ray machine and taking multiple pictures from different angles with the help of special films. These films are then studied by radiologists, who analyze the shape and density of various parts of the body to determine any abnormalities in them.
Ultrasonic Testing:
Ultrasonic testing is a non-destructive process used for the inspection of welds. It produces high frequency sound waves which are directed towards the part to be inspected. The sound waves cause vibrations in the metal and weak spots due to their small size, shape and number are more likely to show up during this process.
Application Insights:
The oil and gas segment accounted for the largest market share in 2017. The growth of this application is attributed to the rising demand for energy as well as material resources across various end-use industries such as chemicals, petrochemicals, and energy. Welds play a significant role in the production of oil and gas equipment owing to their ability to resist corrosion and other damage caused by stress or pressure. Thus, inspection plays an important role in ensuring high-quality welds that can withstand high temperatures without causing any damage or defect on account of cracks or spatter.
The industrial segment is expected register a CAGR exceeding 11% from 2018 to 2030 due to increasing investments from governments across various countries including China India Japan South Korea Australia Mexico Brazil Germany France UK U.S.
Regional Analysis:
North America accounted for the largest market share in 2017. The region is expected to continue its dominance over the forecast period owing to presence of major companies such as General Electric, Honeywell, and Emerson Electric. In addition, growing demand for energy resources coupled with increasing offshore drilling activities in U.S., which is one of the key reasons responsible for high product penetration in this region will drive growth further.
Asia Pacific is anticipated to be one of the fastest-growing regions during the forecast period owing to rising number of construction projects across various sectors such as oil and gas, aerospace manufacturing industries etc., especially in India and China along with other emerging economies are projected to boost industry expansion over next eight years at a significant rate thereby driving overall market growth positively.
Growth Factors:
- Increasing demand for high-quality welds in end-use industries
- Growing popularity of automated welding processes
- Rising investments in welding research and development
- Proliferation of advanced welding technologies and equipment
- Increasing demand for quality weld inspection and testing services
Scope Of The Report
Report Attributes
Report Details
Report Title
Weld Inspection Equipment Market Research Report
By Type
Radiography Testing, Ultrasonic Testing, Eddy Current Testing, Others
By Application
Oil and Gas, Industrial, Aerospace, Automotive, Others
By Companies
Mistras Group, IPG Photonics (Genesis Systems), Duerr-NDT, Olympus Corporation, GE, Gould Bass-Magnetech, Institut Dr. Foerster, NDTS India Pvt Ltd., Nikon Metrology, Magnaflux, Sonatest Ltd., Zetec Inc., Sonotron NDT
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
229
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Weld Inspection Equipment Market Report Segments:
The global Weld Inspection Equipment market is segmented on the basis of:
Types
Radiography Testing, Ultrasonic Testing, Eddy Current Testing, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil and Gas, Industrial, Aerospace, Automotive, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Mistras Group
- IPG Photonics (Genesis Systems)
- Duerr-NDT
- Olympus Corporation
- GE
- Gould Bass-Magnetech
- Institut Dr. Foerster
- NDTS India Pvt Ltd.
- Nikon Metrology
- Magnaflux
- Sonatest Ltd.
- Zetec Inc.
- Sonotron NDT
Highlights of The Weld Inspection Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Radiography Testing
- Ultrasonic Testing
- Eddy Current Testing
- Others
- By Application:
- Oil and Gas
- Industrial
- Aerospace
- Automotive
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Weld Inspection Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Weld inspection equipment is used to inspect welds for quality and defects. Weld inspection can be done visually or using specialized equipment that detects flaws in the weld.
Some of the major players in the weld inspection equipment market are Mistras Group, IPG Photonics (Genesis Systems), Duerr-NDT, Olympus Corporation, GE, Gould Bass-Magnetech, Institut Dr. Foerster, NDTS India Pvt Ltd., Nikon Metrology, Magnaflux, Sonatest Ltd., Zetec Inc., Sonotron NDT.
The weld inspection equipment market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Weld Inspection Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Weld Inspection Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Weld Inspection Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Weld Inspection Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Weld Inspection Equipment Market Size & Forecast, 2020-2028
4.5.1 Weld Inspection Equipment Market Size and Y-o-Y Growth
4.5.2 Weld Inspection Equipment Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Radiography Testing
5.2.2 Ultrasonic Testing
5.2.3 Eddy Current Testing
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oil and Gas
6.2.2 Industrial
6.2.3 Aerospace
6.2.4 Automotive
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Weld Inspection Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Weld Inspection Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Radiography Testing
9.6.2 Ultrasonic Testing
9.6.3 Eddy Current Testing
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oil and Gas
9.10.2 Industrial
9.10.3 Aerospace
9.10.4 Automotive
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Radiography Testing
10.6.2 Ultrasonic Testing
10.6.3 Eddy Current Testing
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oil and Gas
10.10.2 Industrial
10.10.3 Aerospace
10.10.4 Automotive
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Radiography Testing
11.6.2 Ultrasonic Testing
11.6.3 Eddy Current Testing
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oil and Gas
11.10.2 Industrial
11.10.3 Aerospace
11.10.4 Automotive
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Radiography Testing
12.6.2 Ultrasonic Testing
12.6.3 Eddy Current Testing
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oil and Gas
12.10.2 Industrial
12.10.3 Aerospace
12.10.4 Automotive
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Radiography Testing
13.6.2 Ultrasonic Testing
13.6.3 Eddy Current Testing
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oil and Gas
13.10.2 Industrial
13.10.3 Aerospace
13.10.4 Automotive
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Weld Inspection Equipment Market: Competitive Dashboard
14.2 Global Weld Inspection Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mistras Group
14.3.2 IPG Photonics (Genesis Systems)
14.3.3 Duerr-NDT
14.3.4 Olympus Corporation
14.3.5 GE
14.3.6 Gould Bass-Magnetech
14.3.7 Institut Dr. Foerster
14.3.8 NDTS India Pvt Ltd.
14.3.9 Nikon Metrology
14.3.10 Magnaflux
14.3.11 Sonatest Ltd.
14.3.12 Zetec Inc.
14.3.13 Sonotron NDT
