Market Overview:
The global liquid penetrant inspection equipment market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for quality products and components across various industries, such as aerospace, chemical and petrochemical, manufacturing, metals production, power generation and transportation security. In addition, the growing awareness about safety and security among consumers is also contributing to the growth of this market.
Product Definition:
Liquid penetrant inspection equipment is used to detect surface-level discontinuities in a material. These discontinuities can be caused by manufacturing defects, damage, or corrosion. The importance of liquid penetrant inspection equipment is that it can help identify and fix these issues before they cause more serious problems.
Surface Inspection:
Surface inspection is a technique used to detect the presence of defects on a surface by analyzing the reflected light from an object. It is also known as optical inspection or non-destructive testing. The objects inspected can be made of glass, plastic, rubber, and other materials that are malleable or ductile in nature.
Volumetric Inspection:
Volumetric inspection is a method of testing or measuring the internal condition of an object by filling it with a known volume of fluid and then determining any variation in the height at which the liquid level meets resistance. The most common form involves using oil as a test medium.
The major benefit provided by this technique is that it provides accurate results even when there are changes in conditions such as temperature, pressure, and other factors that may affect conventional tests.
Application Insights:
The manufacturing industries segment dominated the global liquid Penetrant Inspection Equipment market in 2017, accounting for a share of over 30.0% in terms of revenue. The growth can be attributed to the increasing demand from various manufacturing sectors such as automotive, aerospace and defense, electronics and semiconductor among others.
Liquid penetration is used for inspecting blind holes, cracks or crevices in various metalworking processes such as cold-forming or press-forming along with other processes like welding that require inspection before assembly or final product processing. Liquid penetration aids are also used on critical components where visual inspection cannot occur due to space constraints or visibility issues including but not limited to inside narrow spaces between components where corrosion may have taken place unnoticed by visual means alone.
Regional Analysis:
Asia Pacific liquid Penetrant inspection equipment market is expected to grow at the highest CAGR over the forecast period. The growth of this region can be attributed to increasing foreign investments in India and China. For instance, in July 2017, Ssangyong Motor Company invested USD X million for expanding its automotive manufacturing plant in Pusan, South Korea. The company planned to increase production capacity from 300 thousand units per annum to 400 thousand units per annum by 2018.
North America accounted for a significant share of revenue owing to early adoption of these technologies coupled with presence of major aircraft manufacturers such as Boeing and Lockheed Martin which have adopted LPI systems across their facilities worldwide including United States.
Growth Factors:
- Increasing demand from end-use industries such as automotive, aerospace, and defense
- Growing popularity of non-destructive testing methods
- Technological advancements in liquid penetrant inspection equipment
- Rising demand for quality control and inspection services
- Growing awareness about the benefits of liquid penetrant inspection
Scope Of The Report
Report Attributes
Report Details
Report Title
Liquid Penetrant Inspection Equipment Market Research Report
By Type
Surface Inspection, Volumetric Inspection, Other Methods
By Application
Aerospace Industry, Chemical and Petrochemical Industries, Manufacturing Industries, Metals Production Industries, Power Generation Industries, Transportation Security
By Companies
General Electric, Olympus Corporation, Ashtead Technology, Mistras Group, Nikon Corporation, Magnaflux Corporation, Zetec Inc, Sonatest Ltd, Bosello High Tech SRL
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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Liquid Penetrant Inspection Equipment Market Report Segments:
The global Liquid Penetrant Inspection Equipment market is segmented on the basis of:
Types
Surface Inspection, Volumetric Inspection, Other Methods
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
Aerospace Industry, Chemical and Petrochemical Industries, Manufacturing Industries, Metals Production Industries, Power Generation Industries, Transportation Security
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:
- General Electric
- Olympus Corporation
- Ashtead Technology
- Mistras Group
- Nikon Corporation
- Magnaflux Corporation
- Zetec Inc
- Sonatest Ltd
- Bosello High Tech SRL
Highlights of The Liquid Penetrant 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:
- Surface Inspection
- Volumetric Inspection
- Other Methods
- By Application:
- Aerospace Industry
- Chemical and Petrochemical Industries
- Manufacturing Industries
- Metals Production Industries
- Power Generation Industries
- Transportation Security
- 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 Liquid Penetrant 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
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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?
Liquid penetrant inspection equipment is a type of inspection equipment that uses a liquid to penetrate the surface of an object being inspected. The liquid can be used to detect hidden defects or weaknesses in the object's surface.
Some of the major players in the liquid penetrant inspection equipment market are General Electric, Olympus Corporation, Ashtead Technology, Mistras Group, Nikon Corporation, Magnaflux Corporation, Zetec Inc, Sonatest Ltd, Bosello High Tech SRL.
The liquid penetrant inspection equipment market is expected to grow at a compound annual growth rate of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Liquid Penetrant Inspection Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Liquid Penetrant Inspection Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Liquid Penetrant Inspection Equipment Market - Supply Chain
4.5. Global Liquid Penetrant Inspection Equipment Market Forecast
4.5.1. Liquid Penetrant Inspection Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Liquid Penetrant Inspection Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Liquid Penetrant Inspection Equipment Market Absolute $ Opportunity
5. Global Liquid Penetrant Inspection Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Type
5.3.1. Surface Inspection
5.3.2. Volumetric Inspection
5.3.3. Other Methods
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Liquid Penetrant Inspection Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Application
6.3.1. Aerospace Industry
6.3.2. Chemical and Petrochemical Industries
6.3.3. Manufacturing Industries
6.3.4. Metals Production Industries
6.3.5. Power Generation Industries
6.3.6. Transportation Security
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Liquid Penetrant Inspection Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Liquid Penetrant Inspection Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Liquid Penetrant Inspection Equipment Demand Share Forecast, 2019-2026
9. North America Liquid Penetrant Inspection Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Application
9.4.1. Aerospace Industry
9.4.2. Chemical and Petrochemical Industries
9.4.3. Manufacturing Industries
9.4.4. Metals Production Industries
9.4.5. Power Generation Industries
9.4.6. Transportation Security
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Type
9.7.1. Surface Inspection
9.7.2. Volumetric Inspection
9.7.3. Other Methods
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Liquid Penetrant Inspection Equipment Demand Share Forecast, 2019-2026
10. Latin America Liquid Penetrant Inspection Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Application
10.4.1. Aerospace Industry
10.4.2. Chemical and Petrochemical Industries
10.4.3. Manufacturing Industries
10.4.4. Metals Production Industries
10.4.5. Power Generation Industries
10.4.6. Transportation Security
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Type
10.7.1. Surface Inspection
10.7.2. Volumetric Inspection
10.7.3. Other Methods
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Liquid Penetrant Inspection Equipment Demand Share Forecast, 2019-2026
11. Europe Liquid Penetrant Inspection Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Application
11.4.1. Aerospace Industry
11.4.2. Chemical and Petrochemical Industries
11.4.3. Manufacturing Industries
11.4.4. Metals Production Industries
11.4.5. Power Generation Industries
11.4.6. Transportation Security
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Type
11.7.1. Surface Inspection
11.7.2. Volumetric Inspection
11.7.3. Other Methods
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Liquid Penetrant Inspection Equipment Demand Share, 2019-2026
12. Asia Pacific Liquid Penetrant Inspection Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Application
12.4.1. Aerospace Industry
12.4.2. Chemical and Petrochemical Industries
12.4.3. Manufacturing Industries
12.4.4. Metals Production Industries
12.4.5. Power Generation Industries
12.4.6. Transportation Security
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Type
12.7.1. Surface Inspection
12.7.2. Volumetric Inspection
12.7.3. Other Methods
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Liquid Penetrant Inspection Equipment Demand Share, 2019-2026
13. Middle East & Africa Liquid Penetrant Inspection Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Liquid Penetrant Inspection Equipment Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Application
13.4.1. Aerospace Industry
13.4.2. Chemical and Petrochemical Industries
13.4.3. Manufacturing Industries
13.4.4. Metals Production Industries
13.4.5. Power Generation Industries
13.4.6. Transportation Security
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Liquid Penetrant Inspection Equipment Market Size and Volume Forecast by Type
13.7.1. Surface Inspection
13.7.2. Volumetric Inspection
13.7.3. Other Methods
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Liquid Penetrant Inspection Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Liquid Penetrant Inspection Equipment Market: Market Share Analysis
14.2. Liquid Penetrant Inspection Equipment Distributors and Customers
14.3. Liquid Penetrant Inspection Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. General Electric
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Olympus Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Ashtead Technology
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Mistras Group
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Nikon Corporation
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Magnaflux Corporation
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Zetec Inc
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sonatest Ltd
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Bosello High Tech SRL
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
