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Non-Destructive Testing Equipment Market Forecast and Segments, 2016-2026

08-19-2016 04:35 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Non-Destructive Testing Equipment Market Forecast

Non-destructive testing equipment is used for evaluation and inspection of various properties of materials, components, and assemblies. As the name suggests, these equipment do not alter, or cause any damage to the materials that are subjected to evaluation.

Non-destructive testing equipment are deployed to determine the properties of materials and constructions in terms of ductility, ultimate tensile strength, impact resistance, fracture toughness and fatigue strength. Non-destructive testing equipment sustains a uniform quality level and lowers the cost of production. Since Non-destructive testing equipment does not permanently alter the article being inspected, it is a highly valuable technique that can save both money and time in product evaluation, research, and troubleshooting. The various Non-destructive testing equipment methods include ultrasonic, magnetic particle, radiographic, liquid penetrant, eddy current testing, remote visual inspection, low coherence interferometry, etc.

Global Non-destructive Testing Equipment Market Segmentation

The global Non-destructive testing equipment market is segmented on the basis of end-use verticals, services, technology, and geography.

On the basis of end use verticals, the global non-destructive testing equipment market is segmented into petrochemical and pipe, manufacturing applications, government infrastructure, aerospace, manufacturing applications, automotive, public safety, power generation and ‘others’.

On account of services, the global non-destructive testing equipment market is segmented into training, inspection, consultation and others.

On the basis of technology, the global non-destructive testing equipment market can be segmented into radiography testing, ultrasonic testing, visual testing, magnetic particle testing, liquid penetrant testing and others.

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On the basis of geography, the global non-destructive equipment market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa, and Japan.

Global Non-destructive Testing Equipment Market: Drivers

Increasing safety regulations for quality control, safety and reliable performance of machines are driving the adoption of Non-destructive testing equipment in end-use industries. Focus on improving the quality and longevity of the materials is also driving the growth of the market. Focus on maintaining quality and preventing breakdowns have also led to increased adoption of Non-destructive testing equipment in end-use industries. Advancement in electronics, robotics, and automation and development of user-friendly software have made these equipment more appealing to end-users. Incorporation of Non-destructive testing equipment has shown to reduce maintenance and repair costs in the long run, fuelling their demand from end-use industries.

Global Non-destructive Testing Equipment Market: Restraints

Although Non-destructive testing equipment offers good ROI in the long run, high initial investment is a deterrent for many organisations. Lack of product knowledge and skilled manpower continue to be a challenge for the adoption of these machines.

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Global Non-destructive Testing Equipment Market: Trends and Opportunities

There are significant opportunities for existing- and new- players to differentiate their offerings through product innovation and competitive price offerings. Resurgence in development of infrastructure after the recession of 2007-08 is expected to provide ample growth opportunities to manufacturers. For many construction projects, carrying out Non-destructive testing has become an integral part of the overall process, and this trend is only going to be stronger over the forecast period. Development of automatic and laser based testing equipment are also expected to create new avenues of growth for this market.

Global Non-destructive Testing Equipment Market: Key Players

The major companies involved in the production and manufacturing of Non-destructive testing equipment are GE Inspection Technologies, YXLON International, Mistras, Nikon Metrology, Olympus Corporation, Eddyfi, Sonatest Ltd., Magnaflux Corporation, Zetec Inc. etc.

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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

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