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Nondestructive Testing Equipment Market by Testing Method (Ultrasonic Testing, Radiography Testing, Visual Inspection Testing, Magnetic Particle Testing & Electromagnetic Testing, Eddy-Current Testing, Liquid Penetrant Testing, and Others), Technique (Volumetric Examination, Surface Examination, and Others), and Industry Vertical (Oil & Gas, Energy & Power, Aerospace & Defense, Automotive & Transportation, Infrastructure, and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2022

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SE_161793
Pages: 210
Dec 2016 | 3422 Views
 
Author's : Rachna Singh
Tables: 57
Charts: 63
 

Non-destructive Testing Equipment Market Overview:

Global Nondestructive Testing Equipment Market is expected to reach $3 billion by 2022, growing at a CAGR of 9% during the forecast period 2016 - 2022. Nondestructive testing (NDT) is the application of measurement techniques to identify defect and discontinuity in material, component, or structure. Nondestructive testing equipment market is expected to witness considerable growth, owing to continuous evolution in power & energy, oil & gas, and aerospace & defense coupled with growth in need for quality-assured machines. Companies need to have quality accredit in accordance with standards such as ISO 9001 quality management system and other quality control assurance certifications. In addition, the number of companies using nondestructive inspection (NDI) to improve processes, reduce waste, and limit liability has increased considerably, resulting in growth in the nondestructive testing equipment market demand.

The market growth is supplemented by the increase in stringent safety government regulations across different geographical regions owing to rise in incidence of infrastructure failures and need for extending the life of obsolete infrastructure and maintenance optimization by various industries for efficient operations and quality/safety assurance. However, high cost of equipment and lack of skilled technicians may impede the nondestructive testing equipment market growth. Increase in usage of advanced materials is expected to create numerous opportunities for growth.

Segment Review

The nondestructive testing equipment market is segmented on the basis of testing method, technique, industry vertical, and geography. 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. It is classified on the basis of industry vertical into oil & gas, energy & power, aerospace & defense, automotive & transportation, infrastructure, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Nondestructive Testing Equipment Market Segment Review

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Global Nondestructive Testing Equipment Market Scenario

The impending need of safe and reliable product/material has increased the usage of NDT equipment in various emerging economies. The market growth is driven by the stringent safety government regulations, maintenance optimization by various industries to ensure safety and efficient performance of the machines and increasing oil & gas, and power generation projects across different geographical regions. Furthermore, technological advancements have augmented the overall industrial development within a wide range of industries. Oil & gas, energy & power, and aerospace & defense are some of the leading sectors (commercial and government agencies) which use NDT techniques to ascertain the quality of end products, related material during manufacturing, and gain operations efficiency.

Impact of NDT on the Rail System

Impact Of NDT Market On The Rail System

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UK network used various NDT methods to curb the rail breaks. As per Rail Accident Investigation Branch, in UK, the number of rail breaks have reduced from 919 in 2000 to 178 in 2013.

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Key Benefits

  • This report provides an in-depth analysis of the global nondestructive testing equipment market, along with current trends and future estimations to identify lucrative investment opportunities
  • Key drivers, opportunities, and restraints that impact the nondestructive testing equipment market are analyzed.
  • Porters Five Forces analysis highlights the potency of buyers and suppliers to facilitate better business decisions for stakeholders and strengthen their supplier and buyer networks.
  • Market estimation of geographical regions is based on the current market scenario and future trends.

Nondestructive Testing Equipment Market Key Segmentation:

The nondestructive testing equipment market is segmented based on testing method, technique, industry vertical, and geography.

By Testing Method

  • Ultrasonic Testing
  • Radiography Testing
  • Visual Inspection Testing
  • Magnetic Particle Testing & Electromagnetic Testing
  • Eddy-Current Testing
  • Liquid Penetrant Testing
  • Others (Thermography Testing, Acoustic Emission, Terahertz Imaging, and Infrared Testing)

By Technique

  • Volumetric Examination
  • Surface Examination
  • Others (Integrity Examination, and Condition Monitoring)

By Industry Vertical

  • Oil & Gas
  • Energy & power
  • Aerospace & Defense
  • Automotive & transportation
  • Infrastructure
  • Others (Educational Institutions, Healthcare, Process Industry, and Mining Industry)

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • Germany
    • France
    • Italy
    • U.K.
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 

Chapter: 1INTRODUCTION

1.1.Report Description
1.2.Key Benefits
1.3.Key Market Segments
1.4.Research Methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

Chapter: 2EXECUTIVE SUMMARY

2.1.CXO Perspective

Chapter: 3MARKET OVERVIEW

3.1.Market Definition and Scope
3.2.Key Findings

3.2.1.Top winning strategies
3.2.2.Top investment pockets

3.3.Porters Five Forces Analysis

3.3.1.Bargaining power of suppliers
3.3.2.Bargaining power of buyers
3.3.3.Threat of substitutes
3.3.4.Threat of new entrants
3.3.5.Intensity of competitive rivalry

3.4.Market Share Analysis, 2015
3.5.Market Dynamics

3.5.1.Drivers

3.5.1.1.Stringent safety government regulations
3.5.1.2.Maintenance optimization by various industries to ensure safety and efficient performance of the machines
3.5.1.3.Increasing need for extending the life of obsolete infrastructure
3.5.1.4.Increasing oil & gas, and power generation projects

3.5.2.Restraints

3.5.2.1.Lack of skilled and qualified professionals
3.5.2.2.High cost of automated NDT equipment

3.5.3.Opportunities

3.5.3.1.Increasing infrastructure development in emerging economies
3.5.3.2.Increasing use of advanced NDT equipment

Chapter: 4NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD

4.1.Overview

4.1.1.Market size and forecast

4.2.Ultrasonic Testing

4.2.1.Key market trends
4.2.2.Growth factors and opportunities
4.2.3.Market size and forecast

4.3.Radiography Testing

4.3.1.Key market trends
4.3.2.Growth factors and opportunities
4.3.3.Market size and forecast

4.4.Visual Inspection Testing

4.4.1.Key market trends
4.4.2.Growth factors and opportunities
4.4.3.Market size and forecast

4.5.Magnetic Particle Testing & Electromagnetic Testing

4.5.1.Key market trends
4.5.2.Growth factors and opportunities
4.5.3.Market size and forecast

4.6.Eddy-Current Testing

4.6.1.Key market trends
4.6.2.Growth factors and opportunities
4.6.3.Market size and forecast

4.7.Liquid Penetrant Testing

4.7.1.Key market trends
4.7.2.Growth factors and opportunities
4.7.3.Market size and forecast

4.8.Others (Thermography Testing, Acoustic Emission, Terahertz Imaging, and Infrared Testing)

4.8.1.Key market trends
4.8.2.Growth factors and opportunities
4.8.3.Market size and forecast

Chapter: 5GLOBAL NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TECHNIQUE

5.1.Overview

5.1.1.Market size and forecast

5.2.Volumetric Examination

5.2.1.Market size and forecast

5.3.Surface Examination

5.3.1.Market size and forecast

5.4.Others (Integrity Examination, and Condition Monitoring)

5.4.1.Market size and forecast

Chapter: 6GLOBAL NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY VERTICAL

6.1.Overview

6.1.1.Market size and forecast

6.2.Oil & Gas

6.2.1.Market size and forecast

6.3.Energy & Power

6.3.1.Market size and forecast

6.4.Aerospace & Defense

6.4.1.Market size and forecast

6.5.Automotive & Transportation

6.5.1.Market size and forecast

6.6.Infrastructure

6.6.1.Market size and forecast

6.7.Others (Educational Institutions, Healthcare, Process Industry, and Mining Industry)

6.7.1.Market size and forecast

Chapter: 7NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY GEOGRAPHY

7.1.Overview

7.1.1.Market size and forecast

7.2.North America

7.2.1.Key market trends
7.2.2.Growth factors and opportunities
7.2.3.Market size and forecast
7.2.4.U.S.

7.2.4.1.Market size and forecast

7.2.5.Canada

7.2.5.1.Market size and forecast

7.2.6.Mexico

7.2.6.1.Market size and forecast

7.3.Europe

7.3.1.Key market trends
7.3.2.Growth factors and opportunities
7.3.3.Market size and forecast
7.3.4.Russia

7.3.4.1.Market size and forecast

7.3.5.Germany

7.3.5.1.Market size and forecast

7.3.6.Italy

7.3.6.1.Market size and forecast

7.3.7.France

7.3.7.1.Market size and forecast

7.3.8.U.K.

7.3.8.1.Market size and forecast

7.3.9.Rest of Europe

7.3.9.1.Market size and forecast

7.4.Asia-Pacific

7.4.1.Key market trends
7.4.2.Growth factors and opportunities
7.4.3.Market size and forecast
7.4.4.China

7.4.4.1.Market size and forecast

7.4.5.Japan

7.4.5.1.Market size and forecast

7.4.6.India

7.4.6.1.Market size and forecast

7.4.7.South Korea

7.4.7.1.Market size and forecast

7.4.8.Rest of Asia-Pacific

7.4.8.1.Market size and forecast

7.5.LAMEA (Latin America Middle-East and Africa)

7.5.1.Key market trends
7.5.2.Growth factors and opportunities
7.5.3.Market size and forecast
7.5.4.Latin America

7.5.4.1.Market size and forecast

7.5.5.Middle East

7.5.5.1.Market size and forecast

7.5.6.Africa

7.5.6.1.Market size and forecast

Chapter: 8COMPANY PROFILES

8.1.Olympus Corporation

8.1.1.Company overview
8.1.2.Operating business segments
8.1.3.Business performance
8.1.4.Key strategic moves and developments

8.2.Intertek Group Plc

8.2.1.Company overview
8.2.2.Operating business segments
8.2.3.Business performance
8.2.4.Key strategic moves and developments

8.3.SGS SA

8.3.1.Company overview
8.3.2.Operating business segments
8.3.3.Business performance
8.3.4.Key strategic moves and developments

8.4.Ashtead Technology, Inc.

8.4.1.Company overview
8.4.2.Operating business segments
8.4.3.Business performance
8.4.4.Key strategic moves and developments

8.5.General Electric

8.5.1.Company overview
8.5.2.Operating business segments
8.5.3.Business performance
8.5.4.Key strategic moves and developments

8.6.Sonatest

8.6.1.Company overview
8.6.2.Operating business segments
8.6.3.Business performance
8.6.4.Key strategic moves and developments

8.7.Zetec, Inc.

8.7.1.Company overview
8.7.2.Operating business segments
8.7.3.Business performance
8.7.4.Key strategic moves and developments

8.8.YXLON International GmbH

8.8.1.Company overview
8.8.2.Operating business segments
8.8.3.Business performance
8.8.4.Key strategic moves and developments

8.9.Mistras Group, Inc.

8.9.1.Company overview
8.9.2.Operating business segments
8.9.3.Business performance
8.9.4.Key strategic moves and developments

8.10.Magnaflux Corporation

8.10.1. Company overview
8.10.2. Operating business segments
8.10.3. Business performance
8.10.4. Key strategic moves and developments

List of Figures

FIGURE 1.TOP WINNING STRATEGIES: PERCENTAGE DISTRIBUTION (2013 - 2016)
FIGURE 2.TOP WINNING STRATEGIES: NATURE AND TYPE
FIGURE 3.TOP INVESTMENT POCKETS IN GLOBAL NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD
FIGURE 4.PORTERS FIVE FORCES ANALYSIS
FIGURE 5.MARKET SHARE ANALYSIS, 2015
FIGURE 6.TOP FACTORS IMPACTING GLOBAL NONDESTRUCTIVE TESTING EQUIPMENT MARKET, 2015-2022
FIGURE 7.ULTRASONIC TESTING MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 8.MARKET REVENUE & FORECAST OF ULTRASONIC TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 9.RADIOGRAPHY TESTING MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 10.MARKET REVENUE & FORECAST OF RADIOGRAPHY TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 11.VISUAL INSPECTION TESTING MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 12.MARKET REVENUE & FORECAST OF VISUAL INSPECTION TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 13.MAGNETIC PARTICLE TESTING & ELECTROMAGNETIC TESTING MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 14.MARKET REVENUE & FORECAST OF MAGNETIC PARTICLE TESTING & ELECTROMAGNETIC TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 15.EDDY-CURRENT TESTING MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 16.MARKET REVENUE & FORECAST OF EDDY-CURRENT TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 17.LIQUID PENETRANT TESTING MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 18.MARKET REVENUE & FORECAST OF LIQUID PENETRANT TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 19.OTHERS (THERMOGRAPHY TESTING, ACOUSTIC EMISSION, TERAHERTZ IMAGING, AND INFRARED TESTING) MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 20.MARKET REVENUE & FORECAST OF OTHERS (THERMOGRAPHY TESTING, ACOUSTIC EMISSION, TERAHERTZ IMAGING, AND INFRARED TESTING MARKET, 2014-2022 ($MILLION)
FIGURE 21.VOLUMETRIC EXAMINATION MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 22.MARKET REVENUE & FORECAST OF VOLUMETRIC EXAMINATION MARKET, 2014-2022 ($MILLION)
FIGURE 23.SURFACE EXAMINATION MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 24.MARKET REVENUE & FORECAST OF SURFACE EXAMINATION MARKET, 2014-2022 ($MILLION)
FIGURE 25.OTHERS (INTEGRITY EXAMINATION, AND CONDITION MONITORING) MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 26.MARKET REVENUE & FORECAST OF OTHERS (INTEGRITY EXAMINATION, AND CONDITION MONITORING) MARKET, 2014-2022 ($MILLION)
FIGURE 27.OIL & GAS MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 28.MARKET REVENUE & FORECAST OF OIL & GAS MARKET, 2014-2022 ($MILLION)
FIGURE 29.ENERGY & POWER MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 30.MARKET REVENUE & FORECAST OF ENERGY & POWER MARKET, 2014-2022 ($MILLION)
FIGURE 31.AEROSPACE & DEFENSE MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 32.MARKET REVENUE & FORECAST OF AEROSPACE & DEFENSE MARKET, 2014-2022 ($MILLION)
FIGURE 33.AUTOMOTIVE & TRANSPORTATION MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 34.MARKET REVENUE & FORECAST OF AUTOMOTIVE & TRANSPORTATION MARKET, 2014-2022 ($MILLION)
FIGURE 35.INFRASTRUCTURE MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 36.MARKET REVENUE & FORECAST OF INFRASTRUCTURE MARKET, 2014-2022 ($MILLION)
FIGURE 37.OTHERS (EDUCATIONAL INSTITUTIONS, HEALTHCARE, PROCESS INDUSTRY, AND MINING INDUSTRY) MARKET ANALYSIS, 2015 & 2022 ($MILLION)
FIGURE 38.MARKET REVENUE & FORECAST OF OTHERS (EDUCATIONAL INSTITUTIONS, HEALTHCARE, PROCESS INDUSTRY, AND MINING INDUSTRY) MARKET, 2014-2022 ($MILLION)
FIGURE 39.U.S.: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 40.CANADA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 41.MEXICO: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 42.RUSSIA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 43.GERMANY: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 44.ITALY: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 45.FRANCE: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 46.U.K.: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 47.REST OF EUROPE: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 48.CHINA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 49.JAPAN: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 50.INDIA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 51.SOUTH KOREA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 52.REST OF ASIA-PACIFIC: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 53.LATIN AMERICA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 54.MIDDLE EAST: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 55.AFRICA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 56.COMPANY SNAPSHOT
FIGURE 57.COMPANY SNAPSHOT
FIGURE 58.COMPANY SNAPSHOT
FIGURE 59.COMPANY SNAPSHOT
FIGURE 60.COMPANY SNAPSHOT
FIGURE 61.COMPANY SNAPSHOT
FIGURE 62.COMPANY SNAPSHOT
FIGURE 63.COMPANY SNAPSHOT

List of Tables

TABLE 1.NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD, 2014-2022 ($MILLION)
TABLE 2.ULTRASONIC TESTING MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 3.RADIOGRAPHY TESTING MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 4.MAGNETIC PARTICLE TESTING & ELECTROMAGNETIC TESTING MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 5.EDDY-CURRENT TESTING MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 6.LIQUID PENETRANT TESTING MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 7.LIQUID PENETRANT TESTING MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 8.OTHERS (THERMOGRAPHY TESTING, ACOUSTIC EMISSION, TERAHERTZ IMAGING, AND INFRARED TESTING) MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 9.NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TECHNIQUE, 2014-2022 ($MILLION)
TABLE 11.VOLUMETRIC EXAMINATION MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 12.SURFACE EXAMINATION MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 13.OTHERS (INTEGRITY EXAMINATION, AND CONDITION MONITORING) MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 14.NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY VERTICAL, 2014-2022 ($MILLION)
TABLE 15.OIL & GAS MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 16.ENERGY & POWER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 17.AEROSPACE & DEFENSE MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 18.AUTOMOTIVE & TRANSPORTATION MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 19.INFRASTRUCTURE MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 20.OTHERS (EDUCATIONAL INSTITUTIONS, HEALTHCARE, PROCESS INDUSTRY, AND MINING INDUSTRY) MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 21.NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 22.NORTH AMERICA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD, 2014-2022 ($MILLION)
TABLE 23.NORTH AMERICA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TECHNIQUE, 2014-2022 ($MILLION)
TABLE 24.NORTH AMERICA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY VERTICAL, 2014-2022 ($MILLION)
TABLE 25.NORTH AMERICA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 26.EUROPE: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD, 2014-2022 ($MILLION)
TABLE 27.EUROPE: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TECHNIQUE, 2014-2022 ($MILLION)
TABLE 28.EUROPE: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY VERTICAL, 2014-2022 ($MILLION)
TABLE 29.EUROPE: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 30.ASIA-PACIFIC: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD, 2014-2022 ($MILLION)
TABLE 31.ASIA-PACIFIC: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TECHNIQUE, 2014-2022 ($MILLION)
TABLE 32.ASIA-PACIFIC: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY VERTICAL, 2014-2022 ($MILLION)
TABLE 33.ASIA-PACIFIC: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 34.LAMEA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TESTING METHOD, 2014-2022 ($MILLION)
TABLE 35.LAMEA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY TECHNIQUE, 2014-2022 ($MILLION)
TABLE 36.LAMEA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY VERTICAL, 2014-2022 ($MILLION)
TABLE 37.LAMEA: NONDESTRUCTIVE TESTING EQUIPMENT MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 38.OLYMPUS CORPORATION: COMPANY SNAPSHOT
TABLE 39.OLYMPUS CORPORATION: OPERATING SEGMENTS
TABLE 40.INTERTEK GROUP PLC: COMPANY SNAPSHOT
TABLE 41.INTERTEK GROUP PLC: OPERATING SEGMENTS
TABLE 42.SGS SA: COMPANY SNAPSHOT
TABLE 43.SGS SA: OPERATING SEGMENTS
TABLE 44.ASHTEAD TECHNOLOGY, INC.: COMPANY SNAPSHOT
TABLE 45.ASHTEAD TECHNOLOGY INC.: OPERATING SEGMENTS
TABLE 46.GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 47.GENERAL ELECTRIC: OPERATING SEGMENTS
TABLE 48.SONATEST: COMPANY SNAPSHOT
TABLE 49.SONATEST: OPERATING SEGMENTS
TABLE 50.ZETEC, INC.: COMPANY SNAPSHOT
TABLE 51.ZETEC, INC.: OPERATING SEGMENTS
TABLE 52.YXLON INTERNATIONAL GMBH: COMPANY SNAPSHOT
TABLE 53.YXLON INTERNATIONAL GMBH: OPERATING SEGMENTS
TABLE 54.MISTRAS GROUP, INC.: COMPANY SNAPSHOT
TABLE 55.MISTRAS GROUP, INC.: OPERATING SEGMENTS
TABLE 56.MAGNAFLUX CORPORATION: COMPANY SNAPSHOT
TABLE 57.MAGNAFLUX CORPORATION: OPERATING SEGMENTS

 

Nondestructive testing (NDT) is one of the extensively used technique to ensure safety and reliability of the product/material without disrupting operations or delaying processes. The market growth is driven by the increased adoption from various industries to improve operations efficiency and government safety regulations across different geographical regions. Furthermore, technological advancements have augmented the overall industrial development within a wide range of industries. Oil & gas, energy & power, and aerospace & defense are some of the leading sectors (commercial and government agencies) which use NDT techniques to ascertain the quality of end products, related material during manufacturing, and gain operations efficiency.

For instance, the rail breaks were running about 900 per year till 2000 on the UK network. To limit the rail breaks, the Network Rail introduced effective NDT onto the track, which consecutively reduced the number of rail breaks per year, thus increasing rail network performance. As per Rail Accident Investigation Branch, in UK, the number of rail breaks have reduced from 919 in 2000 to 178 in 2013.

The energy & power, and oil & gas sectors constituted largest market share owing to presence of huge shale oil & gas reserves in various countries such as U.S., UK, Germany, China, France, and Italy. The increased energy & power operation, particularly in the nuclear energy sector in U.S., also drives the NDT equipment market significantly as NDT inspection plays vital role in the functioning of the energy & power sector. At present, ultrasonic testing holds the largest market share, however, radiography testing is expected to surpass ultrasonic testing in the next five years, owing to the decline in average price of ultrasonic test equipment.

Considering the regional trends of the NDT equipment market, North America is projected to hold largest market size. The Asia-Pacific market is in its growth phase at a faster rate, owing to the increase in infrastructure projects and power plants. On the other hand, LAMEA is in the introductory phase in terms of adoption of NDT testing methods.

Leading players, such as General Electric, Olympus Corporation and Sonatest, are expected to explore newer techniques and applications to meet the growing demands of customers. Collaborations and acquisitions are expected to enable them to enhance their product portfolios and expand into different geographies.

 

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