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Non-Destructive Testing Equipment Market Outlook, Growth, Size and Forecast by Olympus Corporation, YXLON International, MISTRAS Group, Inc. , Zetec Zetec,Inc., FOERSTER Holding GmbH, Nikon metrology NV

06-18-2019 09:10 AM CET | Industry, Real Estate & Construction

Press release from: Data Bridge Market Research

Non-Destructive Testing Equipment Market

Non-Destructive Testing Equipment Market

Global Non-Destructive Testing Equipment Market is valued at an estimated USD 7,901.95 million in 2018, and this value is projected to rise to USD 15,288.79 million by 2026, undergoing with a CAGR of 8.60% in the forecast period of 2019-2026. Most of the Non-Destructive Testing market is dependent on the Oil & Gas market and the Aerospace & Defence sector. The NDT market has been affected several times by the recent fluctuations in the crude Oil prices, which is rendering loss to most players in the market.

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Non-Destructive Testing Equipment Market report aims to examine the market with respect to general market conditions, market improvement, market scenarios, development, cost and profit of the specified market regions, position and comparative pricing between major players. It is a professional and a detailed report focusing on primary and secondary drivers, market share, market size, sales volume, leading segments and geographical analysis. CAGR levels for the market with respect to its rise or fall are estimated in the Non-Destructive Testing Equipment Market report for the forecast period of 2019 to 2026. This market research report studies key opportunities in the market and influencing factors which is valuable for the businesses.

While preparing this Non-Destructive Testing Equipment Market report, no stone is left unturned to consider public demands, competencies and the constant growth of the working industry, vibrant reporting, and high data protection services. Businesses can accomplish an unmatched insights and expertise of the best market opportunities into their relevant markets with the help of this market research report. To get thorough knowledge of market, this Non-Destructive Testing Equipment Market report has turned out as a transparent, wide-ranging and supreme in quality. The use of newest and advanced tools and techniques used for this report makes it the finest in the class.

Key Market Competitors:

Few of the major competitors currently working in the Global Non-Destructive Testing Equipment are Baker Hughes a GE company LLC, Olympus Corporation, YXLON International, MISTRAS Group, Inc. , Zetec Zetec,Inc., FOERSTER Holding GmbH, Nikon metrology NV, SGS Group,SGS SA, Fujifilm Holdings Corporation, Bureau Veritas S.A., Acuren, NDT Global, Cygnus Instruments Inc., Magnaflux, Eddyfi, Bosello High Technology srl, T.D. Williamson, Inc., Sonaspection, LynX Inspection , 5 RESEARCH DRIVE, SHELTON, CT 06484, Fischer Technology, Inc.and others.

Key Developments in the Market:

• In January 2018, Avitas Systems, a GE Venture, collaborated with Limelight Networks, Inc. for using its private network and distributed cloud infrastructure. Avitas Systems Platform also utilizes GE’s containerized Predix Edge solution, allowing users to continue to benefit from the use and functionality of GE’s Predix application services suite.

• In May 2018, Olympus Corporation introduced IPLEX G Lite industrial videoscopea, useful to capture images inside aircraft engines, piping, and other equipment without the need for disassembly. The new videoscope will be exhibited at the Automotive Engineering Exposition.

Market Definition:

Non-Destructive Tests does not affect the future usefulness of the object being tested, hence its name –Non Destructive. NDT Market and inspection is an extremely valuable technique for timely evaluation and diagnosis of faults in products. It is also used for detecting faults and veracity in industrial assets and public infrastructures. NDT is also used to detect faults and structural integrity in industrial assets and public infrastructures.

Market Drivers:

• 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.

• The growing need for extending the life of obsolete infrastructure

Market Restraints:

• Lack of skilled equipment operators

• High cost of NDT Equipment

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By Technique

• Ultrasonic Testing (UT)
• Visual Inspection Testing
• Magnetic Particle Testing (MPT)
• Liquid Penetrant Testing (LPT)
• Eddy Current Testing (ECT)
• Radiographic Testing (RT)
• Acoustic Emission Testing (AET)
• Others

By Methods

• Visual Inspection
• Surface Inspection
• Volumetric Inspection
• Others

By Service

• Inspection Services
• Equipment Rental Services
• Calibration Services
• Training Services

By Verticles

• Manufacturing
• Oil & Gas
• Energy & Power
• Aerospace & Defence
• Public Infrastructure
• Automotive & Transportation
• Power Generation
• Others

By Geography

• North America
• South America
• Europe
• Asia-Pacific
• Middle East and Africa

Competitive Analysis:

Global Non-Destructive Testing Equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Non-Destructive Testing Equipment market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Insights in the report:

• Competitive analysis of key competitors involved in the market

• Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026

• Market drivers and restraints analysis along with the analysis of the market structure

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Data Bridge Market Research
Tel: +1-888-387-2818

About Data Bridge Market Research:

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.

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