Global Non-Destructive Testing Equipment Market By Technique (Ultrasonic Testing (UT), Visual Inspection Testing, Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy Current Testing (ECT), Radiographic Testing (RT), Acoustic Emission Testing (AET), Others); Method (Visual Inspection, Surface Inspection, Volumetric Inspection, Others) ; Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), Vertical (Manufacturing, Oil & Gas, Energy & Power, Aerospace & Defence, Public Infrastructure, Automotive & Transportation, Power Generation, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Non-Destructive Testing Equipment Market
Global Non-Destructive Testing Equipment Market is valued at an estimated USD 7,901.95 million in 2018, and this value is projected to rise to USD 15,288.79 million by 2026, undergoing with a CAGR of 8.60% in the forecast period of 2019-2026. Most of the Non-Destructive Testing market is dependent on the Oil & Gas market and the Aerospace & Defence sector. The NDT market has been affected several times by the recent fluctuations in the crude Oil prices, which is rendering loss to most players in the market.
Market Definition: Global Non-Destructive Testing Equipment Market
Non-Destructive Tests does not affect the future usefulness of the object being tested, hence its name –Non Destructive. NDT Market and inspection is an extremely valuable technique for timely evaluation and diagnosis of faults in products. It is also used for detecting faults and veracity in industrial assets and public infrastructures. NDT is also used to detect faults and structural integrity in industrial assets and public infrastructures.
- Remote visual inspection in aerospace increases demand
- Stringent safety guidelines and government protocols
- Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants.
- The growing need for extending the life of obsolete infrastructure
- Lack of skilled equipment operators
- High cost of NDT Equipment
Segmentation: Global Non-Destructive Testing Equipment Market
- Ultrasonic Testing (UT)
- Visual Inspection Testing
- Magnetic Particle Testing (MPT)
- Liquid Penetrant Testing (LPT)
- Eddy Current Testing (ECT)
- Radiographic Testing (RT)
- Acoustic Emission Testing (AET)
- Visual Inspection
- Surface Inspection
- Volumetric Inspection
- Inspection Services
- Equipment Rental Services
- Calibration Services
- Training Services
- Oil & Gas
- Energy & Power
- Aerospace & Defence
- Public Infrastructure
- Automotive & Transportation
- Power Generation
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2018, Avitas Systems, a GE Venture, collaborated with Limelight Networks, Inc. for using its private network and distributed cloud infrastructure. Avitas Systems Platform also utilizes GE’s containerized Predix Edge solution, allowing users to continue to benefit from the use and functionality of GE’s Predix application services suite.
- In May 2018, Olympus Corporation introduced IPLEX G Lite industrial videoscopea, useful to capture images inside aircraft engines, piping, and other equipment without the need for disassembly. The new videoscope will be exhibited at the Automotive Engineering Exposition
Competitive Analysis: Global Non-Destructive Testing Equipment Market
Global Non-Destructive Testing Equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Non-Destructive Testing Equipment market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Non-Destructive Testing Equipment Market
Few of the major competitors currently working in the Global Non-Destructive Testing Equipment are Baker Hughes a GE company LLC, Olympus Corporation, YXLON International, MISTRAS Group, Inc. , Zetec Zetec,Inc., FOERSTER Holding GmbH, Nikon metrology NV, SGS Group,SGS SA, Fujifilm Holdings Corporation, Bureau Veritas S.A., Acuren, NDT Global, Cygnus Instruments Inc., Magnaflux, Eddyfi, Bosello High Technology srl, T.D. Williamson, Inc., Sonaspection , LynX Inspection , 5 RESEARCH DRIVE, SHELTON, CT 06484 , Fischer Technology, Inc.and others.
Research Methodology: Global Non-Destructive Testing Equipment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure