Baker Hughes declared the order of liquified natural gas from the company QatarEnergy to deliver two main refrigerant compressors for the North Field South project. The project is estimated to enhance the production capacity of Qatar’s LNG unit from 110 million tons to 126 million tons by the end of 2027. The order includes main refrigerant compressors with six gas turbines and twelve centrifugal compressors.
Eddyfi/NDT announced that finished the transaction to acquire Zetec, Inc. Zetec was promoted by the Eddyfi company to develop the brand in prominent sectors such as power generation, aerospace, defense, rail, and manufacturing. The inclusion of the Zetec company enhances the experience and expands the market benefiting the business by doubling the sales increasing providing new prospects.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 5020
Published Date: Jun 14, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Rise in the construction sector with huge infrastructure development, and the rising number of industries across the world with rapid urbanization are the major factors driving the market growth.
The market size of ultrasonic testing is anticipated to attain a CAGR of ~10.1% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Baker Hughes, Olympus Corporation, MISTRAS Group, Eddyfi/NDT, T.D. Williamson Inc., Bosello High Technology Srl., Fischer Technology Inc., Cygnus Instruments Ltd., NDT Global GmbH, LynX Inspection, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, equipment, vertical, and by region.
The manufacturing segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Absence of skilled and experienced professionals to run ultrasonic testing activities is estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.