Underwater Magnetic Particle Inspection Equipment Market Share

On the basis of geographical analysis, the global underwater magnetic particle inspection equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe industry is expected to dominate majority revenue share by 2036, attributed to increasing research activities in developed countries, such as, the Netherlands, UK, Sweden, Denmark, and France, among others.

The market in the North America region is anticipated to gain the largest underwater magnetic particle inspection equipment market share throughout the forecast period owing to the increasing government investment in academic research activities, along growing demand for oil and shale gas. For instance, the United Nations established UN Ocean Science Decade for Sustainable Development for ocean research, monitoring and surveillance.