Underwater Magnetic Particle Inspection Equipment Market Size

Underwater Magnetic Particle Inspection Equipment Market size is likely to expand at significant growth rate during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing need for underwater mining, backed by the rising consumption of metals, and minerals. Moreover, the depleting resources on non-renewable minerals and ores on land is estimated to raise the demand for underwater inspection for mineral reserves. Along with this, the growing research and academic activities in the depths of oceans and seas, are projected to boost the market growth. Furthermore, the growing investment in the research and development activities across the globe is estimated to boost the market growth. According to the data by the World Bank, 2.203% of the global GDP was spent on research activities in 2018.