Global non destructive testing equipment market growth

Although NDT has been in the market for quite a few years now, it could not attract enough crowd to pursue NDT as a career, especially in the fastest growing market for NDT equipment and services, the Asia Pacific. This is encouraging many oil-dependent countries to resume their investments into exploratory activities.

Aerospace includes composite airframe manufacturing, aircraft engine part production, and maintenance. The market can be classified by services into consultation, rental, training, and inspection.

These equipment is organized to determine the characteristics of materials and constructions in terms of impact resistance, ultimate tensile strength ductility, fatigue strength and fracture toughness. Inspection services are sub-segmented into visual NDT, surface, eddy current, and ultrasonic inspection services.

Development of new materials, combination of two or more techniques for enhanced solutions, and rising customer expectations are the notable shift in trends for non-destructive testing equipment and services market.

North America led the global non-destructive testing equipment market in and is also expected to maintain its dominance in as well in this market.

United StatesZetec Inc. Guided wave type of ultrasonic testing methods along with phased array technology is expected to gain significant share and traditional technologies such as liquid penetrant testing and visual inspection are projected to remain stagnant by North America represents the largest market share of the non-destructive testing equipment market.

Asia Pacific is expected to be the fastest growing regional market for non-destructive testing equipment.

Lack of knowledge and skilled manpower continues to be a challenge for the acceptance of these machines. The increasing number of failures of oil and gas equipment and tools, especially of pipes are spurring the need of non-destructive testing equipment in this industry.

Automotive is expected to be the fastest growing end use industry in non-destructive testing equipment market followed by oil and gas industry. The report identifies the drivers and restraints affecting the industry and analyzes their impact over the forecast period.

Nondestructive Testing Equipment

Non-destructive testing equipment is used for inspection and assessment of various properties of components, materials, and assemblies. Equipment do not cause any damage to the materials that are subjected to assessment or evaluation. Non-destructive testing equipment are utilized in order to evaluate or inspect the materials, assemblies or components for discontinuities in their characteristics without affecting the serviceability of the part or system.

The equipment is effectively used to determine physical properties of materials including ductility, fatigue strength, impact resistance, fracture toughness, and ultimate tensile strength. Major companies that have in-house capabilities are also outsourcing the NDT activities to third-party companies due to lack of skilled labor.

Rising need for extending the life of aging assets and running the assets at high capacities along with the high costs involved in developing new infrastructure is projected to drive industry growth.

Market players focus on entering new markets by launching technologically advanced and cost-effective products, and acquiring new businesses. Proper containment and storage of these materials is the top priority safety issue to operators.

Lack of awareness within the end-users and high infrastructure costs may act as a challenge to growth. The recent trend of clean energy is creating a shift in power plant operation styles.The market for global nondestructive testing equipment market is anticipated to grow from $ million in to $ million bywith a CAGR of % between and The base year considered for the study is and the forecast period is between and The non-destructive testing (NDT) market is estimated to be USD Billion in and is projected to reach USD Billion byat a CAGR of % from to is considered as the base year and the.

The newly published report by analyzes various factors associated with the performance of the global laser marking machine market and envisages the growth trajectory of the market during the forecast period The Global Non-destructive Equipment Testing (NDT) market was valued at USD million in and is expected to reach a value of USD million byat a CAGR of % during the forecast period ( - ).

Global Non-Destructive Testing Equipment Market is estimated to reach $4, million by ; growing at a CAGR of % from to he global non-destructive testing equipment market has been segmented into testing method, technique, industry vertical, and geography.

The global Non-Destructive Testing Equipment Market covers whole industry on the basis of technology, verticals, application and geography. The technology section covers different contact and non-contact technologies with their current and future estimations.

Global non destructive testing equipment market growth
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