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Non-Destructive Testing Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021

Non-Destructive Testing Equipment Industry: Forecasts to 2021

  • July 2015
  • 67 pages
  • ID: 3147343
In this report:
In 2014, oil and gas industry was the second largest end use industry in the non-destructive testing equipment market globally.
Large investments in energy verticals such as oil and gas are chiefly driving the market growth in North America.
Major market participants in the non-destructive testing equipment market include Olympus Corporation (Japan), Magnaflux Corporation (United States), YXLON International GmbH (Germany), Nikon Metrology NV (Belgium), Mistras Group Inc. (United States), Zetec Inc. (United States), Eddyfi NDT Inc. (Canada), Sonatest Ltd. (United Kingdom) and GE Measurement & Control Solutions (United States).

Summary

Table of Contents

Non-destructive testing equipment are utilized in order to evaluate or inspect the materials, assemblies or components for discontinuities in their characteristics without affecting the serviceability of the part or system. The non-destructive testing equipment are used to determine the physical properties of materials including ultimate tensile strength, ductility, impact resistance, fatigue strength and fracture toughness. Additionally, non-destructive testing equipment also lowers the cost of production and sustains a uniform quality level. Additionally, strict government safety regulations for quality control, safety and reliable performance of the machines, and growing demand to improve quality and longevity of the machines are the main factors that are driving the non-destructive testing equipment market globally.

Among all the end use industry segments, power generation industry holds the biggest market share at present in the non-destructive testing equipment market. The principal factors driving this growth of the power generation industry are rising number of nuclear power plants and the subsequent growing demand for machines used in power generation plants. In 2014, oil and gas industry was the second most important end use industry in the non-destructive testing equipment market globally. Non-destructive testing equipment are utilized in oil and gas operations on the critical assets including tanks, vessels, heat exchangers and condensers, piping and rotating equipments to identify plausible damage mechanisms. The rising number of failures of oil and gas equipment and tools, especially of pipes are spurring the need of non-destructive testing equipment in this industry.

This market research study examines the non-destructive testing equipment market on a overall level, and offers measures in terms of income from 2015 to 2021. The analysis identifies the drivers and market restraints affecting the sector and examines their effect over the outlook period. Furthermore, it identifies the meaningful opportunities for industry growth in the next years.

The document breaks down the market based on geography as North America (NA), EU, Asia-Pac, and Rest of the globe, and these have been estimated in terms of income. Moreover, the document breaks down the market established on technology as ultrasonic testing, radiography testing, electromagnetic testing, visual testing and others (containing magnetic particle testing and liquid penetrant testing). Moreover, the sector is divided based on end use industry which comprises power generation, oil & gas, aerospace and defense , automotive and others (including plastic and polymer, and medical). All these segments have also been estimated based on geography in terms of income.

North America continent introduces the biggest market share of the non-destructive testing equipment market. In 2014, North America (NA) accounted for most important revenue share in the overall non-destructive testing equipment market. Big investments in energy verticals including oil and gas are chiefly driving the market increase in North America continent. Europe (EU) holds the second biggest market share in the non-destructive testing equipment market succeeded by Asia Pacific (APAC) and RoW respectively.

For superior understanding of the non-destructive testing equipment market, the market research also comprises opposing landscape and Analysis of market appeal, wherein applications are benchmarked based on their market scope, rate of growth, and market interest.

The market research offers company market share analysis of different industry participants. The top players have also been profiled based on company details, product class, financial review, historical roadmap, strategic management and the new developments in the field of non-destructive testing equipment market. Main market participants in the non-destructive testing equipment market contain Olympus Corporation, Magnaflux Corporation, YXLON International GmbH, Nikon Metrology NV, Mistras Group Inc., Zetec Inc., Eddyfi NDT Inc., Sonatest Ltd. and GE Measurement & Control Solutions.

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The non-destructive testing equipment market is broken down as below:

Overall non-destructive testing equipment market: by Technology

Overall non-destructive testing equipment market: by End Use Industry

Overall non-destructive testing equipment market: by Area

North America (NA)

USA

Rest of North America (NA)

Europe (EU)

United Kingdom

Germany (DE)

France (FR)

Italy (IT)

Rest of europe (EU)

Asia-Pac

China (CN)

Japan (JP)

India (IN)

Rest of Asia Pacific (APAC)

Rest of the globe

South America

Middle East

African continent

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