Latest NDT report shows significant global growth
12/05/2015
Of all the non-destructive testing (NDT) methods, ultrasonic testing, radiographic testing and eddy current testing are expected to capture most of the market size owing to their various applications across end-user segments. With continuous innovations being made in ultrasonic NDT testing, it has been the prime choice among end-users for fault determination as it is non-hazardous to operators or nearby personnel, does not affect the material being tested and provides instantaneous results. Radiographic testing is likely to intercept conventional technologies in the near future.The demand for NDT equipment used in inspections and quality control has observed a significant growth that is expected to continue due to the increasing importance of quality control among industry players across various industry verticals. North America holds the largest market size in the NDT equipment sector due to the increasing use of NDT in maintaining and inspecting ageing infrastructure and the strict safety regulations implemented by the US government, which force manufacturers to regularly engage in inspection activities.
The key drivers for the non-contact NDT market are strong government safety regulations, user-friendly software, automation and robotics. The Asia-Pacific region is also expected to observe a significant increase due to the rapid growth in infrastructure and power generation in countries such as India, China and Japan. This creates ample opportunities for the NDT companies in these countries.
The NDT equipment used is very complex in its kinematics, very expensive and not only differs widely but there is also a lack of NDT equipment knowledge among the end-users, all of which act as a driver for the growth of the NDT services market. NDT inspection, NDT training, NDT renting services and NDT consultation services are all growing rapidly, with high growth potential for the future. There is a lot of opportunity for both the existing players and new entrants to innovate and differentiate the product range. Key players in the NDT industry include GE Measurement & Control (US), Olympus Corporation (Japan), Nikon Metrology (Belgium), Mistras Group Inc (US) and Zetec (US).
For more information, visit: http://www.researchandmarkets.com/publication/mgfochl/nondestructive_testing
