Press release
Non-Destructive Testing Equipment Market is expected to reach USD 4.78 Billion in 2021
In addition, non-destructive testing equipment also lower the cost of production and sustains a uniform quality level. Stringent government safety regulations for quality control, ensure safety and reliable performance of the machines, and increasing demand to improve quality and longevity of the machines are the major factors responsible for growth of global non-destructive testing equipment market globally.
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The global non-destructive testing equipment market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). North America led the global non-destructive testing equipment market in 2014 and is also expected to maintain its dominance in 2021 as well in this market. The growth in North America is primarily attributed due to huge investments in energy verticals such as oil and gas.
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The global non-destructive testing equipment market is segmented on the basis of technology into ultrasonic testing, radiography testing, electromagnetic testing, visual testing and others (including magnetic particle testing and liquid penetrant testing). Ultrasonic testing is holding the maximum market revenue share in 2014. The wide usage of ultrasonic testing in several industries such as steel and aluminum construction, manufacturing, aerospace and defense and automotive sectors are spurring the demand for this segment.
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The global non-destructive testing equipment market is further segmented by end use industry into power generation industry, oil & gas industry, aerospace and defense industry, automotive industry and others (including plastic and polymer, and medical). The global non-destructive testing equipment market is majorly dominated by power generation industry due to increasing number of nuclear power plants and the subsequent increasing demand for machines used in power plants. Automotive is expected to be the fastest growing end use industry in non-destructive testing equipment market followed by oil and gas industry.
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