Nondestructive Testing Equipment Market Will Likely To Expand At A Steady Cagr Of 9% By 2022|key players like Olympus Corporation, Intertek Group plc, SGS SA, Ashtead Technology, Inc

Global nondestructive testing equipment market is expected to reach $3 billion by 2022, growing at a CAGR of 9% during 2016 – 2022. Nondestructive testing (NDT) is the application of measurement techniques to identify defect and discontinuity in material, component, or structure. Nondestructive testing market is expected to witness considerable growth due to continuous evolution in robotics, automation, oil & gas, and electronics industry coupled with growth in need for quality-assured machines.

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Companies need to have quality accredit in accordance with standards such as ISO 9001 quality management system and other quality control assurance certifications. In addition, the number of companies using nondestructive inspection (NDI) to improve processes, reduce waste, and limit liability has increased considerably, resulting in growth in nondestructive testing market demand.

Some of the key players of Nondestructive Testing Equipment Market:
Olympus Corporation, Intertek Group plc, SGS SA, Ashtead Technology, Inc., Sonatest, General Electric, Mistras Group, Inc., Zetec, Inc., Magnaflux Corporation, and YXLON International GmbH among others.

The market growth is supplemented by the increase in stringent safety government regulations across different geographic regions due to rise in incidence of infrastructure failures, and rise in need for extending the life of obsolete infrastructure and maintenance optimization by various industries for efficient operations and quality/safety assurance. However, high cost of equipment and lack of skilled technicians may impede the market growth. Increase in usage of advanced materials is expected to create numerous opportunities for growth.

The nondestructive testing equipment market is segmented on the basis of testing method, technique, industry vertical, and geography. Based on testing method, it is divided into ultrasonic testing, radiography testing, visual inspection testing, magnetic particle testing & electromagnetic testing, eddy-current testing, liquid penetrant testing, and others. Based on nondestructive examination (NDE) techniques, it is categorized into volumetric examination, surface examination, and others. It is classified on the basis of industry vertical into oil & gas, energy & power, aerospace & defense, automotive & transportation, infrastructure, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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What the report features:-

1. Global analysis of Nondestructive Testing Equipment Market from 2014-2022 illustrating the progression of the market.
2. Forecast and analysis of Nondestructive Testing Equipment Market by Dosage, Route of Administration and Application from 2014-2022.
3. Forecast and analysis of Nondestructive Testing Equipment Market in five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.

Reason to Buy:

1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Nondestructive Testing Equipment Market.
2. Highlights key business priorities in order to assist companies to realign their business strategies.
3. The key findings and recommendations highlight crucial progressive industry trends in the Nondestructive Testing Equipment Market, thereby allowing players to develop effective long term strategies.
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Sameer Joshi
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