EUROPE NON-DESTRUCTIVE TESTING EQUIPMENT MARKET FORECAST 2019-2027

EUROPE NON-DESTRUCTIVE TESTING EQUIPMENT MARKET FORECAST 2019-2027

  • January 2019 •
  • 81 pages •
  • Report ID: 5725016 •
  • Format: PDF
KEY FINDINGS
The Europe nondestructive testing equipment market is expected to grow from $XX million in 2018 to $XX million by 2027, with a CAGR of 6.58% between 2019 and 2027. The base year considered for the study is 2018 and the forecast period is between 2019 and 2027. The key drivers for the growth in the Europe region are aging assets and increased focus towards safety regulations and quality control and increased demand from the region. Overseas demand for cars produced in Europe is expected to remain robust in future. The flourishing automotive market in the region is expected to help NDT equipment market to grow more during the forecasted years.

MARKET INSIGHTS
Wind energy is emerging as an interesting market for growth over the next few years, as it has become the major source of energy generation in Europe.Many windmills are aging and inspection of these is opening avenues for NDT equipment in this vertical market.

The non-destructive equipment market is segmented by product on the basis of ultrasonic, radiography, visual and others.It is also segmented by end-user on the basis of oil &gas, power generation, aerospace and defense and automotive and transportation.

Lack of skilled labor and high infrastructure cost are restricting the growth of the market.The increase in demand for advanced technology and rising infrastructure in emerging economies are the new trends that are opening up doors in the nondestructive testing equipment market.

Lack of awareness among consumers and rise in competition from new market players are some of the challenges faced by the market.

COMPETITIVE INSIGHTS
The major players of the European nondestructive testing equipment market are Mistras, Zetec Inc., Eddyfi, Aries Marine & Engineering Services, Nikon Metrology, Tüv Rheinland AG, Yxlon, Ashtead Technology, Inc., Karl Storz Gmbh & Co.KG, Olympus Scientific Solutions Americas Inc., Intertek Group PLC, Magnaflux, Sonatest Ltd. and Baker Hughes.

Companies mentioned
1. EDDYFI
2. BAKER HUGHES
3. KARL STORZ GMBH & CO.KG
4. MAGNAFLUX
5. MISTRAS
6. NIKON METROLOGY
7. OLYMPUS SCIENTIFIC SOLUTIONS AMERICAS INC.
8. SONATEST LTD.
9. YXLON
10. ZETEC INC.
11. ASHTEAD TECHNOLOGY, INC.
12. INTERTEK GROUP PLC
13. ARIES MARINE AND ENGINEERING SERVICES
14. TÜV RHEINLAND AG