Loading...
0

Nondestructive Testing Equipment Market to Reach $4,716.1 Million by 2025, Globally

 
 

quote The NDT testing equipment market is expected to witness considerable growth due to the maintenance optimization by various industries to ensure safety and efficient performance of the machines propels its adoption globally. The NDT testing equipment market is projected to witness significant growth, especially in the emerging economies due to rise in stringent government regulations regarding NDT testing equipment and increase in oil & gas and power generations projects. quote

Prasad Kakade
Lead Analyst, Semiconductors & Electronics at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled,"Global Non-Destructive Equipment Market by Testing Method, Technique, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017 - 2025,"the global NDT equipment market was valued at $2,379.2 million in 2017 and is projected to reach $4,716.1 million by 2025, growing at a CAGR of 9.0% from 2018 to 2025.

NDT refers to the method of examining materials/components to detect the defects/discontinuity in component or material to avoid equipment failure. In addition, it is used to ensure safe utilization of engineering structures, product quality, and performance upon production. Increase in stringent government regulations across different geographical regions due to rise in incidence of infrastructure failures, need for extending the life of obsolete infrastructure, and maintenance optimization by various industries for efficient operations & quality/safety assurance are the factors that drive the growth of the NDT equipment market.

Among the industry verticals, energy & power was the foremost industry in 2017, owing to growth in number of power plants and equipment involved in the same. In the same year, the oil & gas industry contributed a significant revenue share of over 20% in the overall market. However, aerospace & defense is expected to witness the fastest growth during the forecast period.

Asia-Pacific is expected to hold largest market share in 2017, owing to increase in investment in oil & gas, aerospace & defense, and energy & power infrastructure to ensure safety and efficiency of the machines.
LAMEA region is expected to grow at the highest CAGR during the forecast period. The factors that drive the growth of the NDT equipment market in LAMEA are an increase in the number of construction projects and rise in industrialization. From a growth perspective, the Middle East market is expected to witness considerably higher growth rates during the forecast period.

Key Findings of the Non-Destructive Equipment Market:

  • In 2017, the ultrasonic testing sub-segment generated the highest revenue in the global NDT equipment market.
  • In 2017, the energy & power segment generated the highest revenue among the industry vertical in the global NDT equipment market.

The key players profiled in NDT equipment market report include Olympus Corporation, Intertek Group PLC, SGS SA, Ashtead Technology Inc., General Electric, Sonatest Ltd., Zetec, Inc., Nikon Metrology Inc., Mistras Group Inc., and Carestream Health. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration. For instance, In January 2019, Ashtead Technology entered into a partnership with 4Subsea to strengthen the groups capabilities. In this partnership, Ashtead will further enhance its inspection, maintenance, and repair (IMR) services by adding 4Subseas sensors to its portfolio and gaining access to 4Subseas domain experts within subsea production. Futhermore, in May 2017, General Electric opened its largest Customer Solutions Center (CSC) globally for its Inspection Technologies (IT) business. This brings BHGEs most advanced NDT technologies under one roof for the first time. This expansion invests $4 million and was developed to better support customers for NDT needs

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote 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, 2017 - 2025 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Nondestructive Testing Equipment Market"
Purchase Enquiry