The non destructive testing industry trends analysis provided in the report helps businesses boost their competitive intelligence program.
Progressive Markets added a report, "Non destructive testing Market- Size, Trend, Share, and Opportunity Analysis & Forecast, 2014-2025", which says that the market is growing at a considerable CAGR from 2014 to 2025.
Non-Destructive (NDT) testing is a method of evaluating the properties of a material, component, or system without causing harm to the substance under test. It plays a crucial role in ensuring the safety, integrity, and reliability of products or materials being used.
Use of NDT testing is found in aircraft, spacecraft, motor vehicles, pipelines, bridges, trains, power stations, refineries, buildings, pressure vessels, and oil platforms.NDT is a highly valuable method because it can save cost and time in product evaluation, troubleshooting, and research.
The commonly used NDT techniques include ultrasonic, eddy-current, liquid penetrant, radiographic, magnetic-particle, and visual testing.
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Non destructive testing can be performed during or after the manufacture of a product, or even on equipment which is under operation. In manufacturing, NDT is used to see if the components are fit for a specific function or if they will last for a desired time.
NDT performed on equipment under operation can be used to assess the present damaged state of the equipment, monitor damage mechanisms, and make informed decisions for remaining equipment life evaluations.
Market Drivers and Restraints
The report includes the drivers and restraints of the non destructive testing market that influence the growth of the market. The growing need for extending the life of obsolete infrastructure and the increase in government regulations for the safety of products being used are responsible for driving the growth of the market.
Nonetheless, the high cost of automated NDT equipment is expected to impede the market growth.
Non destructive testing Market Key Segmentation:
The report analyses the global non destructive testing industry based on the method of testing, industry vertical, technique, and geography. Based on the type of testing, the NDT market is classified as ultrasonic testing, visual inspection technique, eddy-current testing, radiography technique, magnetic particle testing, electromagnetic testing, liquid penetrant testing, and others.
Based on industry vertical, the NDT industry is divided into energy & power, oil and gas, automotive, transportation, aerospace and defense, infrastructure, and others. Based on technique, the market is classified as volumetric examination, surface examination, and others.
Based on geography, the NDT market is segmented into North America, Asia-Pacific, Europe, and LAMEA. The NDT industry in the North-American region has been studied across the U.S., Canada, and Mexico.
The market in the Asia-Pacific region has been analyzed across China, Japan, India, South Korea, Australia, and the other parts of Asia-Pacific. The market in European region has been analyzed across Italy, Germany, Spain, France, UK, and the other parts of Europe.
In the LAMEA region, the market has been studied across Saudi Arabia, Brazil, South Africa, and the rest of LAMEA.
Top Market Players
The NDT market analysis report also includes information about the leading players in the global market. The key industry players include Magnaflux Corporation, Sonatest, Mistras Group, Inc., Olympus Corporation, SGS SA, Intertek Group Plc., YXLON International GmbH, Zetec, Inc., Ashtead Technology, Inc., and General Electric.
Key Benefits from the Report
This report provides valuable insights into the overall non destructive testing market. It incorporates the non destructive testing market size, non destructive testing market share analysis, market forecast, market dynamics, market scope, trends analysis, Porter's analysis, and the top industry players.
The NDT market analysis report answers several queries such as which market segments to focus on in the coming times for prioritizing investments. The non destructive testing market size explains where the market is at present and where it is going.
The market dynamics make one aware of the factors that influence the market growth.
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Porter's Five Forces analysis includes the bargaining power of buyers and suppliers, threat of substitutes, industry rivalry, and threat of new entrants. It highlights the potency of buyers and suppliers to foster better business decisions for stakeholders and reinforce their networks.
The NDT market size and forecast is included in the report for every segment and geographical region based on the current market scenario and future trends. The important developments and business segments of the leading market players are also included in the report.
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