Rising Safety Regulations to push Non-Destructive Testing Equipment Market Grow at a Positive 6.2% CAGR & Attain Stupendous Revenue During the Forecast Period of 2022-32 - Future Market Insights, Inc.
NEWARK, Del., Nov. 1, 2022 /PRNewswire/ -- The global non-destructive testing equipment market is anticipated to reach a valuation of US$ 31574.6 Mn in 2032, with demand growing at a positive CAGR of 6.2% from 2022 to 2032. Driven by an upsurge in safety regulations for the safe and reliable performance of machines and for quality control purposes, the target market will likely reach an estimated US$ 17324 Mn by the end of 2022. As non-destructive testing equipment is used to evaluate and inspect various aspects of materials, components, and assemblies, the market for this equipment is expected to observe a heightened demand during the forecast period.
- With a growing emphasis on enhancing the quality and durability of various materials, the demand for non-destructive testing equipment is also anticipated to grow in the international market.
- The use of non-destructive testing equipment has been shown to ultimately lessen maintenance and repair costs, thus, driving the demand for the non-destructive testing equipment market during the forecast period.
- The non-destructive testing equipment market in North America will hold about 28.5% of the global market share in 2022.
- Besides, Europe too will demonstrate notable growth by accounting for 23.8% of the global non-destructive testing equipment market shares.