GLOBAL NON-DESTRUCTIVE TESTING EQUIPMENT’S MARKET FORECAST (2019-2027)

GLOBAL NON-DESTRUCTIVE TESTING EQUIPMENT’S MARKET FORECAST (2019-2027)

  • January 2019 •
  • 124 pages •
  • Report ID: 5725018 •
  • Format: PDF
KEY FINDINGS
The market for global nondestructive testing equipment market is anticipated to grow from $XX million in 2018 to $XX million by 2027, with a CAGR of 7.67 % between 2019 and 2027. The base year considered for the study is 2018 and the forecast period is between 2019 and 2027. Several growth factors drive the market. The need to improve the quality and life of aging assets is one such factor. System failures can be avoided by regularly examining assets with the help of NDT equipment and implementing early remedial measures. Also, a rise in the demand for NDT equipment from the APAC region is another factor contributing to the market growth.

MARKET INSIGHTS
The global nondestructive testing equipment market is bifurcated on the basis of product, i.e. ultrasonic equipment, radiography testing equipment, visual testing equipment, and other testing equipment. It is also segmented by end-user by oil & gas, power generation, aerospace and defense, automotive and transportation and others.

REGIONAL INSIGHTS
By geography, global nondestructive testing equipment market is segmented as North America, Europe, APAC, Latin America, Middle East & Africa.North America dominates the market followed by Europe and APAC.

The challenges and costs involved in constructing new infrastructure have resulted in prolonging the life of the existing infrastructure.This is a major reason that drives the market for NDT equipment, especially in North America.

The steady revival of the US economy is also a major reason behind the improving conditions of various industries in the US that have influenced the NDT Equipment market positively.The major users of NDT equipment and services are European countries such as Germany, the UK, and Italy.

This is attributed to the growing investment in the automotive and aerospace sectors in the region.

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

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