Global non-destructive testing services and equipment market report
05/11/2018
The global non-destructive testing (NDT) services and equipment market is expected to register a healthy compound annual growth rate (CAGR) in the forecast period of 2018 to 2025, according to a new report from Research and Markets. The new market report contains data for the historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.Remote visual inspection in aerospace increases demand, stringent safety guidelines and government protocols. Automated NDT devices are expected to see the greatest demand and the power industry will expand due to continuous investment in nuclear plant, outsourcing of non-core activities and technical resource constraints driving the market. On the other hand, lack of skilled equipment operators and the high cost of NDT equipment slowing down acceptance is hampering the growth of the market.
The key market players within the global NDT services and equipment market are General Electric, Olympus Corporation, Fujifilm Holding Corporation, MISTRAS Group Inc, Pfinder KG, Intertek Group plc, Nikon Metrology NV, Ashtead Technology, Sonatest and Bosello High Technology SRL.
The market is further segmented into type, mode of testing, application and industry. On the basis of type, the global NDT services and equipment market is segmented into services and equipment. Services are further sub-segmented into inspection, consulting, training and others. Equipment is further sub-segmented into ultrasonic, radiography, visual inspection, magnetic particle, penetrant, eddy current and acoustic emission testing equipment, along with others. The services market segment is expected to dominate with the highest market share from 2018 until 2025.
On the basis of mode of testing, the global NDT services and equipment market is segmented into surface testing, volumetric testing, condition monitoring and integrity inspection. The surface testing segment is expected to dominate with the highest market share from 2018 until 2025.
On the basis of application, the global NDT services and equipment market is classified into categories such as flaw detection, leak detection, dimensional measurement, physical analysis, chemical analysis, plasma emission testing, corrosion emission testing and others. Among these, physical analysis dominated the market in 2018 and the trend is expected to remain the same
until 2025.
On the basis of industry, the global NDT services and equipment market is classified into automotive, oil & gas, energy and power, aerospace and defence and others. Among these, oil & gas dominated the market in 2018 and the trend is expected to remain the same until 2025.
The market is segmented into five geographical regions: North America, Europe, Asia-Pacific, South America and the Middle East and Africa.
The report covers the present scenario and the growth prospects of the global NDT services and equipment market for the period 2018 to 2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and carries out in-depth company share analysis of the ten major players in the market.
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