Inspection and
supervision of any inventory before its deployment is a necessary norm to
detect defects in the product before it is commercialized. Non-destructive
testing (NDT) is such a process which manages to investigate the product thoroughly
causing no or minimal damage. As per a research report released from
IndustryARC, the global non-destructive testing equipment market size was
evaluated at $7.53 billion in 2018, and the opportunities in the same are
projected to rise at a healthy compound annual growth rate (CAGR) of 6.98% during
the forecast period of 2019 to 2025 as mentioned in a recent business
intelligence report by IndustryARC’s market analyst.
The report is titled “Non-Destructive Testing (NDT) Equipment Market: By Industry (Aerospace, Automotive,
Power Generation, Others) By Application (Flaw Detection, Dimensional
Measurement, Others) By Technology (Ultrasonic, Magnetic Particle, Others)
& Geography – Forecast (2019 - 2025).” The report contains comprehensive
insights related to trends, outlook, demands, forecast, and geographical
distribution in the market.
Global NDT Equipment Market: Leading Segments
North America is the
directing leader in the global non-destructive testing market. The region is
secured with 37.91% NDT testing equipment market share in 2018. North America
is a promising destination for the key players in the market owing to the
growing awareness of the benefits of NDT techniques among the manufacturing
companies.
Among applications,
public infrastructure is considered as the most lucrative application in the
non-destructive testing equipment market. Prevailing public infrastructure such
as at airports, bridges, canals, parks, public housing, and other public spaces
are rising because of the increasing globalization and urbanization. Ensuring
stability and quality in such infrastructures is paramount for public safety.
Hence, employment of NDT by public infrastructures are incrementing at an
application CAGR of 7.73% through to 2025.
Global
Non-destructive Testing Equipment Industry Analysis
Non-destructive testing,
Non-Destructive Examination (NDE), Non-Destructive Inspection (NDI), or
Non-Destructive Evaluation (NDE) is an analysis technique applied in the
evaluation of material causing minimal damage to the object. The process uses
techniques such as digital radiography, ultrasonic testing, magnetic particle
testing, liquid penetrant testing, radiography testing, and visual inspection
to analyse the material. NDT process is radically applied in the healthcare
industry. Medical imaging and medical ultrasonography are considered as some of
the commonly used tools for non-destructive testing in the healthcare industry.
Profits in the healthcare sector are recurring owing to the widespread of the
newer disease every now and then. Other than the healthcare industry, the
construction industry is mandatorily using the non-destructive testing to
ensure the stability, robustness, and rigidity of infrastructure. According to
the World Bank Group [1],
75% of the infrastructure that will be present in 2050 is yet to be constructed,
and there is a lot of investment gap that will be filled in the coming years
which will propel the demand in the NDT equipment market. With increasing
urbanization and population, the expansion of demands in residential,
non-residential, and infrastructure projects is augmented to drive profits in
the adjacent non-destructive testing market.
Global
Non-destructive Testing Equipment Market Trends
· Machine learning methods and algorithms are
now being applied for quality control and predictive maintenance. The goal is
to construct algorithms from training data and provide accurate and precise
predictions and patterns that fit utterly for non-destructive evaluation.
·
Digital sensing inspection using integrated
sensors and predictive analysis is replacing the physical inspection methods.
These further help to integrate precise and accurate results without causing
any damage to the product. This trend is poised to disrupt the NDT equipment
market.
Global
Non-destructive Testing Equipment Market: Competitive Landscape
Some of the key companies
identified in the report that are currently holding majority shares in the
non-destructive testing (NDT) equipment market Olympus Corporation, MISTRAS
Group, Nikon Metrology, Ashtead Technology, YXLON International, Sonatest,
Zetec, T.D. Williamson Inc., Bosello High Technology Srl, Eddyfi, Magnaflux,
Fischer Technology Inc., Cygnus Instruments Ltd., NDT Global GmBH, Acuren, and
LynX Inspection.
Talk to one of our sales
representative about the full report by providing your details in the link
below:
https://www.industryarc.com/support.php?id=190
Related
Reports:
a) Automotive Non Destructive Testing (NDT)
Equipment Market
https://www.industryarc.com/Research/GCC-Non-destructive-Testing-Equipment-Market-Research-505791
b) Environmental Testing Market
https://www.industryarc.com/Report/7455/environmental-testing-market-analysis.html
c) Explosion Proof Equipment Systems Market
https://www.industryarc.com/Report/109/Explosion-Proof-Equipment-Systems-Market-Report.html
What
can you expect from the report?
The global non-destructive testing (NDT) equipment
market is prepared with the main agenda to cover the following 20
points:
1. Market Size by Product
Categories &
Application
11. Demand Analysis (Revenue & Volume)
2. Market trends &
Relevant Market
Data
12. Country level
Analysis
3. Manufacturer
Landscape
13. Competitor
Analysis
4. Distributor Landscape
14. Market
Shares Analysis
5. Pricing Analysis
15. Value
Chain Analysis
6. Top 10 End user
Analysis
16. Supply
Chain Analysis
7. Product Benchmarking
17. Strategic
Analysis
8. Product Developments
18. Current
& Future Market Landscape Analysis
9. Mergers &
Acquisition Analysis
19.
Opportunity Analysis
10. Patent Analysis
20.
Revenue and Volume Analysis
Frequently
Asked Questions:
Q. Does IndustryARC
provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize
the report by extracting data from our database of reports and annual
subscription databases. We can provide the following free customization:
1. Increase the level of
data in application or end user industry.
2. Increase the number of
countries in geography chapter.
3. Find out market shares
for other smaller companies or companies which are of interest to you.
4. Company profiles can
be requested based on your interest.
5. Patent analysis,
pricing, product analysis, product benchmarking, value and supply chain
analysis can be requested for a country or end use segment.
Any other custom
requirements can be discussed with our team, drop an e-mail to [email protected] to discuss
more about our consulting services.
To request for a
proposal, provide your details in the below link:
https://www.industryarc.com/reports/request-quote?id=190
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Sales Manager
Email 1:
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About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500
reports annually, in various industries such as Agriculture, Automotive,
Automation & Instrumentation, Chemicals and Materials, Energy and Power,
Electronics, Food and Beverages, Information Technology, and Life sciences and
Healthcare.
[1]https://www.ifc.org/wps/wcm/connect/c75bccde-252c-496f-818f-6b6462d6c771/20181024-Construction-Industry-Value-Chain.pdf?MOD=AJPERES