The Global Non-Destructive Testing Equipment Market is expected to reach USD 12,353.37 million by 2024 from USD 6,700.00 million in 2016, at a CAGR of 8.1% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
By Technique (Ultrasonic Testing (UT), Visual Testing, Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy Current Testing (ECT), Radiographic Testing (RT), Acoustic Emission Testing (AET)); By Method (Visual Inspection, Surface Inspection, Volumetric Inspection) By Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace & Defense, Public Infrastructure, Automotive, Power Generation), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Some of the major factors driving the market for non-destructive testing equipment market are remote visual inspection in aerospace increases demand, stringent safety guidelines and government protocols. These factors increase the demand for non-destructive testing equipment products. Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants are the other factors driving the growth of the non-destructive testing equipment market.
REMOTE VISUAL INSPECTION IN AEROSPACE INCREASES DEMAND
Remote visual inspection (RVI) is used in examining the internals of different structure and component in both during the manufacture of the components and during the service period. It is also utilized for the inspection in corrosion, cracks, internal gaps, blockages and even in the different object detection. Due to the extensive use of the remote visual inspection in aerospace has really risen the demand of NDT market.
STRINGENT SAFETY GUIDELINES AND GOVERNMENT PROTOCOLS
Non-destructive equipment is majorly found in the end user industries. Therefore, government are making stringent rules and regulation regarding quality control and personnel safety. Instances such as leakages in nuclear reactors, explosions of pipelines and refinery blasts had made the government to set up the safety guidelines, as a result, leads to drive the NDT equipment market.
AUTOMATED NDT DEVICES EXPECTED TO SEE MOST DEMAND AND THE POWER INDUSTRY IS BOOMED BY CONTINUOUS INVESTMENT IN NUCLEAR PLANTS
The non-destructive testing equipment market is expected to show significant growth in the coming years, due to Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants. Continuous investment is being done in the nuclear plants due to fuel failures in PWR/VVER reactors, fuel assembly damages, structural deficiencies and configurations, end plug weld control, corrosion and many more.
Some of the major players operating in this market are:-
North America Non-Destructive Testing Equipment Market – Industry Trends and Forecast to 2027
Asia-Pacific Non-Destructive Testing Equipment Market – Industry Trends and Forecast to 2027
Europe Non-Destructive Testing Equipment Market – Industry Trends and Forecast to 2027
Global Non-Destructive Testing Equipment Market – Industry Trends and Forecast to 2028