Nondestructive Testing Equipment Market : Growing Demand Overview, Driver, Restraints, Opportunities Forecast 2019-2025- General Electric, Sonatest Ltd., Zetec, Nikon Metrology, Mistras Group
Non-destructive Testing Equipment Market outlook-2025
Nondestructive testing (NDT) is the application of measurement techniques to identify defect and discontinuity in material, component, or structure. Nondestructive testing market is expected to witness considerable growth due to continuous evolution in robotics, automation, oil & gas, and electronics industry coupled with growth in need for quality-assured machines.
North America is one of the major contributors to the global NDT equipment market. Improvements in the NDT process by means of new technologies have attracted key players of this equipment market from various regions. Construction and manufacturing activity in this region drive the growth of the non-destructive testing equipment market. The rapid growth of power generation, oil & gas, and aerospace & defense industries is one of the major factors that drives the growth of the market. Growth of the non-destructive equipment market in the U.S. is primarily attributed to the increase in demand for oil & gas and power generation industries with adoption of new technologies.
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The key players profiled in this report include Olympus Corporation, Intertek Group PLC, SGS SA, Ashtead Technology Inc., General Electric, Sonatest Ltd., Zetec, Inc., Nikon Metrology Inc., Mistras Group Inc., and Carestream Health.
The market growth is supplemented by increase in stringent safety government regulations across different geographic regions due to rise in incidences of infrastructural failures, increase in need for extending the life of obsolete infrastructure, maintenance optimization by various industries for efficient operations, and quality/safety assurance. However, high cost of equipment and lack of skilled technicians are the factors projected to impede the market growth.
The NDT equipment market is segmented based on testing method, technique, industry vertical, and region. Based on testing method, it is divided into ultrasonic testing, radiography testing, visual inspection testing, magnetic particle testing & electromagnetic testing, eddy-current testing, liquid penetrant testing, and others. Based on nondestructive examination (NDE) techniques, it is categorized into volumetric examination, surface examination, and others. Based on industry vertical, the market is categorized into oil & gas, energy & power, aerospace & defense, automotive & transportation, infrastructure, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key Benefits for Non-destructive Testing Equipment Market :
This study includes the analytical depiction of the global NDT equipment along with the current trends and future estimations to determine the imminent investment pockets.The report presents information regarding the key drivers, restraints, and opportunities.The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry. Non-destructive Testing Equipment Market Segmentation:
By Testing Method
Visual Inspection Testing
Magnetic Particle Testing & Electromagnetic Testing
Liquid Penetrant Testing
By Industry Vertical
Oil & Gas
Energy & power
Aerospace & Defense
Automotive & transportation
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Rest of Europe
Rest of Asia-Pacific