Non-Destructive Testing Equipment Market Overview :
Global Non-Destructive Testing Equipment Market is estimated to reach $4,288 million by 2024; growing at a CAGR of 9.8% from 2016 to 2024. Non-destructive testing equipment is used for inspection and assessment of various properties of components, materials, and assemblies. Equipment do not cause any damage to the materials that are subjected to assessment or evaluation. These equipment is organized to determine the characteristics of materials and constructions in terms of impact resistance, ultimate tensile strength ductility, fatigue strength and fracture toughness. These equipment’s maintain a uniform quality level and hence lowers the cost of manufacture.
Global Non-Destructive Testing Equipment Market Size and Forecast, 2015 - 2024 (US$ Million)
Increasing safety&security regulations and quality control and reliable performance of machines are driving the acceptance of these equipment in various industries. Improving the quality and durability of the material is also a growth factor for the market. Need for preventing breakdowns and maintaining quality have also led to improved adoption of these equipment. Integration of these equipment has shown reduced repair and maintenance costs in the long run, fueling their demand. High initial investment is restricting its adoptionin many organizations. Lack of knowledge and skilled manpower continues to be a challenge for the acceptance of these machines. Development of laser based and automatic testing equipment are anticipated to create new growth opportunities for this market.
The global non-destructive testing equipment market has been segmented into testing method, technique, industry vertical, and geography. On the basis of testing methods, global market has been divided into ultrasonictesting,radiography testing,visual inspection, magnetic particle & electromagnetic, eddy-current, liquid penetrant, and other testing methods.On the basis of technique, the market has been segmented as volumetric examination, surface examination, and other techniques. Industry vertical includes oil & gas, energy &power, aerospace&defense, automotive &transportation, infrastructure, and other industry verticals.
Global Non-destructive Testing Equipment Market, by Testing Method 2016 Vs 2024
Based on geography, global non-destructive testing equipment market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of Russia, Germany, Italy,France,UK, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific. While RoW is bifurcated into South America, Middle East, and Africa.
Global Non-Destructive Testing Equipment Market Regional Revenue % (2016 Vs 2024)
The key players operating in the market are General Electric, Olympus Corporation, Zetec Inc., Sonatest Ltd., Ashtead Technology Inc., GE Measurement & Control solutions,YXLON International,Mistras Group Inc.,Magnaflux Corporation, and Fischer Technology Inc., among others.
The key takeaways from the report
- The report will provide detailed analysis of Non-Destructive Testing Equipment Market with respect to major segments such as testing method, technique, and industry vertical
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Non-Destructive Testing Equipment Market has been included in the report
- Profile of the key players in the Non-Destructive Testing Equipment Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Non-Destructive Testing Equipment Market
Testing Method Segments
- Ultrasonic Testing
- Radiography Testing
- Visual Inspection
- Magnetic Particle & Electromagnetic
- Liquid Penetrant
- Other Testing Methods
- Volumetric Examination
- Surface Examination
- Other Techniques
Industry Vertical Segments
- Oil & Gas
- Energy & Power
- Aerospace & Defense
- Automotive & Transportation
- Other Industry Verticals
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East
Global Non-Destructive Testing Equipment Market Primary Interviews by Geography