Global Non-Destructive Testing Equipment Market By Testing Method (Ultrasonic, Radiography, Visual Inspection, Magnetic Particle & Electromagnetic, Eddy-Current, Liquid Penetrant), Technique (Volumetric Examination, Surface Examination), Application (Oil & Gas, Energy & Power, Aerospace & Defense, Automotive & Transportation, Infrastructure)
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Market Report Description
The global Non Destructive Testing Equipment market size would register a revenue of $2.2 billion by 2022, growing at a CAGR of 8.7% during the forecast period. North America held major market share in 2015, and is projected to continue its dominance throughout the forecast period. Non Destructive Testing refers to the system used to examine materialscomponents to detect the defectsdiscontinuity in components or materials to avoid equipment failure. It is also used to safe guard engineering structures, product quality, and performance upon production. Stringent government regulations across different geographical regions due to growing incidences of infrastructure failures, need to extend the life of obsolete infrastructure, and maintenance optimization by various industries for efficient operations & quality safety assurance are the factors that would drive the growth of the Non Destructive Testing market.
Based on NDT testing method, the market is classified into ultrasonic testing, radiography testing, visual inspection testing, magnetic particle testing & electromagnetic testing, eddy-current testing, liquid penetrant testing, and others. The report aims at providing stakeholders with an in-depth analysis of the Global Non-Destructive Equipment Testing Market. Current and future market trends would determine the overall attractiveness of the market providing a platform for the companies to exploit the market potency and garner sizable market share. The study provides an in-depth analysis of major driving and restraining factors in the industry and highlight insights on the growth opportunities prevailing in the industry. Market estimation of the current market and estimations through 2016-2022 would provide the complete financial potency of the market. Key players profiled in the report include Olympus Corporation, Intertek Group, SGS S.A., Ashtead Technology, Mistras Group, General Electric, Magnaflux and Yxlon International.
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