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

Non-Destructive Testing and Inspection Market: Global Forecast until 2023

  • August 2017
  • 222 pages
  • ID: 5061077
In this report:
Technological advancements in NDT, especially for integrity examination techniques, are expected to help the integrity examination technique segment of the NDT market to grow from USD ##,##.## million in 2016 to USD ##,##.## million by 2022, recording the highest CAGR of ##.##% from 2016 to 2022.
The condition monitoring segment of the BRICS NDT market was worth USD ##.## million in 2016 and is expected to reach USD ##,##.## million by 2022, posting the highest CAGR of ##.##% from 2016 to 2022.

Summary

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"Non-destructive testing and inspection market forecasted to grow at a compound annual growth rate (CAGR) of 7.83% during the forecast horizon"

The non-destructive testing and inspection market is anticipated to be valued at ~$12.1B by 2023, increasing at a compound annual growth rate (CAGR) of ~7.8 percent between 2017 and 2023. A top influencing factor for the increase ot the market is stringent government safety regulations for maintaining product quality and safety within an industrial environment. Large-scale infra projects in emerging countries are likely to create alternatives for the actors in the sector.

"Market for the ultrasonic testing is anticipated to grow quickly in the near future"

The ultrasonic testing technique is anticipated to grow quickly during the forecast period between 2017 and 2023. The adoption of advanced UT techniques in the oil and gas sector for identifying faults drives the NDT market increase. The industry for ultrasonic testing is expected to increase by 2023 with the increased demand for NDT equipment in the manufacturing of aircraft and automobiles. The growing demand for energy production in the power generation vertical would lead to high demand for NDT products during the estimate period.

"Asia-Pacific to be the quickest developing market for non-destructive testing and inspection"

The sector in Asia-Pac is anticipated to rise at an important compound annual growth rate (CAGR) during the outlook period. The rise is assigned to different infrastructure projects that are under construction between 2017 and 2023 and rising manufacturing vertical in APAC. The industry in India (IN) is anticipated to grow at the highest compound annual growth rate (CAGR) between 2017 and 2023. The construction of new power plants to meet the increasing demand for energy is anticipated to be the main factor for the increase ot the NDT market in Asia-Pacific.

Break-up of profiles of primary members taking part for the analysis is presented below:

- By Company Type: Tier 1 - 26.0 percent, Tier 2 - 32.0 percent, and 1/3 3 - 42.0 percent

- By Designation: C-Level Executives -52.0 percent, Directors - 23.0 percent, Managers - 25.0 percent

- By area: North america (NA) - 44.0 percent, Europe - 29.0 percent, APAC - 23.0 percent, RoW - 4.0 percent

General Electric Company, Olympus Corporation, Ashtead Technology Ltd., Mistras Group Inc., Nikon Corporation, Magnaflux Corporation, Zetec Inc., Sonatest Ltd., Sonotron NDT, Bosello High Tech SRL, Yxlon International GmbH, Fischer Technology Inc., and Eddyfi NDT Inc. are the top actors in this sector.

Segment Research

This business report has been broken down into technique, method, service, vertical, and geography of the NDT market have been covered. It also considers the main drivers, industry restraints, possibilities, and opportunities pertaining to the market. The market research contributes a in-depth view of the market across four main regions: North America continent, Europe (EU), Asia-Pac, and RoW (comprising South America, the Middle East (ME), and African continent).

Why Purchasing This Study Can Help You:

• this business report includes the industry statistics pertaining to technique, methods, service, vertical, and territory.

• Major drivers, market restraints, alternatives, and opportunities for the NDT market have been precised in this industry report.

• Illustrative segmentation, studies, and estimate have been conducted for the sector established on the technique, method, service, vertical, and area to give an global view of the non-destructive testing market.

• The competitive landscape section includes top players, complete study, revenue of main actors' competitor landscape, launches of new product, alliances, and mergers and acquisitions in the NDT market.

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