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Non-destructive testing equipment market to hit $12,353.37 million by 2024

Non-destructive testing equipment market to hit $12,353.37 million by 2024

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

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Global Non-Destructive Testing Equipment Market 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) – Industry Trends and Forecast to 2024

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This report consists of below pages:

  • No of pages: 350
  • No of Figures: 60
  • No of Tables: 220

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The major factors driving the growth of this market are 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. On the other hand, lack of skilled equipment operators and high cost of NDT equipment slowing down acceptance may hinder the growth of the market.

Report Segmentation:

The global non-destructive testing equipment market is segmented on the basis of equipment type, mode of testing, application, industry, and geography. The global non-destructive testing equipment market is segmented into ultrasonic test equipment, magnetic particle test equipment, visual inspection equipment, radiography test equipment, penetrant test equipment, eddy current testing equipment, acoustic emission testing equipment and others.

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In 2017, the ultrasonic test equipment segment is expected to dominate the market with a share of 32.0 % and is expected to continue this trend till 2024.

Based on equipment type, the global non-destructive testing equipment market is segmented into ultrasonic test equipment, magnetic particle test equipment, visual inspection equipment, radiography test equipment, penetrant test equipment, eddy current testing equipment, acoustic emission testing equipment and others.

On the basis of mode of testing, the global non-destructive testing equipment market is segmented into surface testing, volumetric testing, condition monitoring and integrity inspection.

On the basis of application, the global non-destructive testing equipment market is classified into flaw detection, leak detection dimensional measurement, physical analysis, chemical analysis, plasma emission testing, corrosion emission testing and others.

On the basis of industry, the global non-destructive testing equipment market is classified into automotive, oil and gas, energy and power, aerospace and defence and others.

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Key Drivers of Global Non-Destructive Testing Equipment Market:

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 market.

Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants are the other major factors driving the growth of the non-destructive testing equipment market.

  • o Lack of skilled equipment operators and high cost of NDT equipment slowing down acceptance are the factor which may hinder the growth of this market
  • o Many companies are increasingly focusing on variability in the prices of crude oil and natural gas in order to strengthen their product portfolios in the non-destructive testing equipment market.
  • o New power generation products and integration of robotic technology will drive the market in future.

Key Points of Global Non-Destructive Testing Equipment Market:

General Electric is going to dominate the non-destructive testing equipment market report following with Olympus Corporation and Fujifilm Holding Corporation along with others such as MISTRAS Group, Inc., PFINDERKG, Nikon Corporation, Ashtead Group plc., Sonatest, Bosello High Technology srl, Magnaflux, Socomore, Zetec, Inc. among others.

  • o Radiography test equipment market is growing with the highest CAGR
  • o Surface testing are driving the market with highest market share
  • o Ultrasonic test equipment are dominating the non-destructive testing equipment market

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