1. Market Research
  2. > Manufacturing
  3. > Industrial Equipment Market Trends

Non-Destructive Testing Equipment Global Market Outlook - Trends, Forecast, and Opportunity Assessment (2014-2022)

  • October 2015
  • 110 pages
  • Stratistics MRC
Report ID: 3326436

Summary

Table of Contents

The Global Non-Destructive testing equipment market is valued at $3.24 billion in 2014 with CAGR of 5.78% it is expected to reach $5.64 billion by 2022. Government safety regulations for quality control, increasing demand to improve quality and longevity of the machines, user friendly software, continuous advancement in electronics, automation and robotics, safety and reliable performance of the machines, and assured return on investment are the major factors that are driving the non-destructive testing equipment market. Lack of skilled technicians and high infrastructure cost are the factors restraining the market growth.

By technology, ultrasonic testing dominated the NDT equipment market. Radiography is identified as one of the emerging NDT method and is expected to witness major technological innovations over the next few years. The power generation segment held the largest share of the non-destructive testing equipment market in 2014. The major factors driving this growth of the power generation industry are increasing number of nuclear power plants and the subsequent increasing demand for machines used in power generation plants. Oil and gas segment was the second largest vertical segment in NDT equipment market.

North America was the largest regional segment driven by massive investments in energy verticals. Europe, the second largest non-destructive testing equipment market, is mainly due to growth in automotive industry and rising demand for modernization of the oil and gas sectors. The Asia-Pacific region, and the rest of the word (ROW) are also considered as promising markets, with favorable investments across China, Japan, India, and the Middle East.

Global non-destructive testing equipment market is segmented by technology, by vertical, by application and by geography. Based on technology, market is segmented into ultrasonic, electromagnetic, radiography, thermography, visual testing, liquid penetrant testing, infrared and thermal testing and other NDT Methods. Based on vertical, market is categorized into power generation, oil & gas, aerospace and defense, automotive, medical & health and Other NDT methods. Based on application, market is classified into flaw detection, leak detection, dimensional measurement, estimation of physical properties and chemical composition determination. Market by geography is segmented into North America, Europe, Asia Pacific and Rest of the World.

The Key players in the market include, Nikon Metrology Inc., Dr. Foerster, Zetec Inc., General Electric, Mistras, Sonotron, Olympus Corporation, Eddyfi NDT Inc. and GE Inspection technologies.

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Fiber Optic Testing Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • $ 5795
  • Industry report
  • May 2017
  • by Transparency Market Research

Global Fiber Optic Testing Equipment Market: Overview The report covers the analysis and forecast of the fiber optic testing equipment (FOTE) market on a global and regional level. The study provides historic ...

Non-Destructive Testing and Inspection Market by Technique, Method, Service, Vertical, and Geography - Global Forecast to 2023

  • $ 5650
  • Industry report
  • August 2017
  • by MarketsandMarkets

“Non-destructive testing and inspection market expected to grow at a CAGR of 7.83% during the forecast period” The non-destructive testing (NDT) and inspection market is expected to be valued at USD ...

Global Markets for Nondestructive Testing Equipment and Services

  • $ 5501
  • Industry report
  • June 2017
  • by BCC Research

- The global market for nondestructive testing (NDT) equipment and services reached $15.8 billion in 2016. This market should reach more than $17.2 billion in 2017 and $26.4 billion by 2022, at a compound ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.