- Report ID: BMRC 387 | Number of pages: 193 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Non-destructive testing equipment market is segmented on the basis of technology, end-use industry and region & country level. On the basis of technology, it is divided into ultrasonic testing, magnetic particle testing, radiography testing, electromagnetic testing, visual testing and others. By end-use industry, the non-destructive testing equipment market is classified into oil & gas, power generation, automotive, aerospace and defense, manufacturing and others.
Non-Destructive Testing Equipment Market is Valued at USD 2.48 Billion in 2018 and Expected to Reach USD 4.07 Billion by 2025 with a CAGR of 7.3% Over the Forecast Period.
Non-destructive testing (NDT) is analysis technique used by engineers to detect defects in materials and structures, either during manufacturing or while in service without harming the object. Non-destructive testing (NDT) is done by several methods like visual inspection, ultrasonic, dye penetrant, acoustic emission, electromagnetic, radiography and magnetic particle. For non-destructive testing of materials and structures testing equipment are needed. Non-destructive testing equipment are made up for quality control of materials and structures, while they are used to detect the defects caused by stress, wear, fatigue, corrosion and other factors, which are used in manufacturing, fabrication and service industries.
The regions covered in this Non-Destructive Testing Equipment Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of non-destructive testing equipment market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Non-Destructive Testing Equipment Market report covers prominent players like Mistras Group, SGS Group, Olympus Corporation, Bureau Veritas S.A., GE Inspection Technologies, YXLON International, Nikon Metrology, Eddyfi, Sonatest Ltd., Magnaflux Corporation, Zetec Inc. and others.
Stringent Government Regulations Regarding the Safety and Industries Standard are the key Growth Factors Driving the Global Non-Destructive Testing Equipment Market.
Industries are focusing on improvement of quality of product and non defective products and for that non destructive testing are required and foster the market growth. Non-destructive testing equipment are also help to reduce maintenance and repair costs of equipment for the long which is also supplementing the market growth. In addition, technological advancement in robotics, electronics and automation & development of user-friendly software has made this equipment more attractive. However, the lack of skilled work force for non destructive test may hamper the growth of NDT testing equipment market. In house training of freshers is not effective as much as on field training. Moreover, increasing number of training institutes and certification boards in the developing countries are expected to reduce lack of skilled work forcein the near forecast period. Technological development of laser and automatic based testing equipment are also expected to create new growth opportunities for non-destructive testing equipment market in the forecast period.
North America is Expected to Dominate the Global Non-Destructive Testing Equipment Market
North America is expected to capture the largest market share of global non-destructive testing equipment market within the forecast period. Increasing investments in the oil and gas sector is anticipated to encourage the growth of the North America market within the forecast period. Europe is expected to gain second largest share of global non-destructive testing equipment market due to industries standards and regulations regarding the safety and quality of product are increasing in this region. Increasing modernization of power generation, oil and gas sectors and automotive industry in the European region are further expected to accelerate the growth of non destructive equipment market throughout the forecast period.
Key Benefits for Market Report-
By End-Use Industry:
By Regional & Country Analysis:
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Non-Destructive Testing Equipment Market Size 2020: Insights & Deep Analysis, Future Scenario Till 2025