Nondestructive Testing Equipment

Nondestructive Testing Equipment Market Key Benefits And Segmentation

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Allied Market Research added new research report on “Nondestructive Testing Market” includes Industry Size, Share, Trends, Growth, Demand, Supply, Market Development, Analysis and Forecast

NDT refers to the method of examining materials/components to detect the defects/discontinuity in component or material to avoid equipment failure. In addition, it is used to ensure the safe utilization of engineering structures, product quality, and performance upon production. Increase in stringent government regulations across different geographical regions due to rise in incidence of infrastructure failures, need for extending the life of obsolete infrastructure, and maintenance optimization by various industries for efficient operations & quality/safety assurance are the factors that drive the growth of NDT market.

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The market is classified on the basis of NDT testing method into ultrasonic testing, radiography testing, visual inspection testing, magnetic particle testing & electromagnetic testing, eddy-current testing, liquid penetrant testing, and others. Ultrasonic testing is expected to hold the largest market share owing to its ability to detect internal and hidden defect/discontinuity along with its high penetrating power and accuracy. However, liquid penetrant testing is anticipated to show significant growth in the coming years, owing to its low cost and user-friendly approach.

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Among the industry verticals, energy & power was the foremost industry in 2015, owing to growth in number of power plants and equipment involved in the same. In the same year, oil and gas industry contributed a significant revenue share of over 20% in the overall market. However, automotive & transportation is expected to witness the fastest growth during the forecast period.

North America generated the highest revenue in this market, followed by Europe and Asia-Pacific. Among the countries of North America, U.S. is the largest market with nearly 80% revenue share of the overall North American market due to significant spending in oil & gas and energy & power infrastructure. However, the market in Asia-Pacific is anticipated to exhibit the highest growth, registering a CAGR of about 11%. Rise in infrastructural projects and power plants fuels the demand for NDT equipment in Asia-Pacific.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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