Non-Destructive Testing Equipment - Global Market Outlook (2016-2022)

Non-Destructive Testing Equipment - Global Market Outlook (2016-2022)

Published: January 2017 ID: SMRC16264
Published: January 2017 ID: SMRC16264

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Non-Destructive Testing Equipment Market is valued at $6.1 billion in 2015 and is expected to reach $13.8 billion by 2022 growing at a CAGR of 12.3% from 2015 to 2022. The major factors that are driving market growth are Government safety regulations for increasing demand to improve quality and longevity of the machines, quality control and user friendly software. Moreover, factors such as continuous advancement in electronics, automation and robotics, safety and reliable performance of the machines, and assured return on investment are also influencing the market growth. Lack of skilled technicians and high infrastructure cost are the factors restricting the market growth.

Ultrasonic testing segment dominated the global market. Radiography is identified as one of the emerging NDT method and is anticipated to witness major technological innovations over the next decade. The power generation segment has accounted for largest share of the non-destructive testing equipment market in 2014. Increasing number of nuclear power plants and the subsequent increasing demand for machines used in power generation plants are the major factors driving this growth. Oil and gas segment was the second largest vertical segment in global market. North America was the largest regional segment driven by huge investments in energy verticals. Europe is the second largest market, mainly due to growth in automotive industry and rising demand for modernization of the oil and gas sectors. The Asia-Pacific region and the rest of the word (ROW) are also considered as promising markets, with favourable investments across China, Japan, India, and the Middle East.

Some of the key players in the market include Zetec Inc, Yxlon International GmbH, Sonotron, Sonatest Ltd, SGS S.A, Olympus Corporation, Nikon Metrology Inc, Mistras Group, Inc, Magnaflux Corporation, KARL STORZ GmbH & Co. KG, Intertek Group PLC, General Electric, GE Measurement & Control, GE Inspection technologies, Fujifilm Holding Corporation, Fischer Technology Inc, Eddyfi NDT Inc, Dr. Foerster, Bosello High Technology S.R.L and Ashtead Technology, Inc.

Testing methods Covered:
• Contact methods
o Eddy Current Testing
o Magnetic Particle Testing
o Electromagnetic testing
o Liquid Penetrant Testing
o Ultrasonic Testing (UT)
• Non-contact methods
o Radiographic Testing (RT)
o Shearography
o Thermography
o Visual Testing
• Other Testing methods
o Terahertz Imaging
o Magnetic Resonance Imaging
o Optical Microscopic Testing
o Near Infrared Spectroscopy
o Acoustic Emission Testing
o Infrared and Thermal Testing

Verticals Covered:
• Power generation
o Wind Turbines
o Solar Power
o Fossil Fuel Energy
• Oil & gas
o Transmission Pipeline
o Subsea Pipelines
o Storage Tanks
o Refining
• Medical and Health
•  Manufacturing
• Government Infrastructure & Public Safety
o Railways
o Military and Defense
o Bridges and Tunnels
o Border Crossing
o Airport Security
• Automotive
• Aerospace
o Material Analysis
o Composite Airframe Manufacturing
o Aircraft Maintenance
o Aircraft Engine Part Production
• Infrastructure
• Other Verticals
o Plastic and Polymer
o Process Industry
o Marine
o Petrochemical and pipe
o Educational Institutions
o Mining Industry
Applications Covered:
• Stress & Structure Analysis
• Physical Property Determination
• Leak Detection
• Flaw Detection
• Estimation of Physical Properties
• Dimensional Measurement
• Chemical Composition Determination
o Corrosion Resistance Testing
o Plasma Emission Spectrography
• Other Applications

Techniques Covered:
• Surface Examination
• Volumetric Examination
• Condition Monitoring
• Integrity Examination
• Other Non-Destructive Techniques

Services Covered:
• Training Services
• Inspection Services
o Visual Inspection Services
o Ultrasonic Inspection
o Surface Inspection
o Radiographic Inspection
o Magnetic Particle Inspection
o Liquid Penetrant Inspection
o Eddy current Inspection
o Advanced Eddy Current Inspection
• Equipment Rental Services
• Calibration Services
• Other Services

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain     
o Rest of Europe 
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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