Market Analysis and Insight: Global Non-destructive Testing Services and Equipment Market
Non-destructive Testing Services and Equipment Market By Technique (Ultrasonic Testing (UT), Visual Testing, Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy Current Testing (ECT), Radiographic Testing (RT), Acoustic Emission Testing (AET)); By Method (Visual Inspection, Surface Inspection, Volumetric Inspection) By Service (Inspection Services, Equipment Rental Services, Calibration Services, Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace & Defense, Public Infrastructure, Automotive, Power Generation), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Global nondestructive testing services and equipment market is expected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Remote visual inspection in aerospace increases demand, stringent safety guidelines and government protocols, automated NDT devices expected to see most demand, the power industry is boomed by continuous investment in nuclear plants and outsourcing of non-core activities and technical resource constraints driving the market. On the other hand, lack of skilled equipment operators and high cost of NDT equipment slowing down acceptance is hampering the growth of market.
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Segmentation: Global Non-destructive Testing Services and Equipment Market
On the basis of type, the global Non-destructive testing services and equipment market is segmented into services and equipment. Services are further sub segmented into inspection, consulting, training and others. Equipment are further sub segmented into ultrasonic test equipment, radiography test equipment, visual inspection equipment, magnetic particle test equipment, penetrant test equipment, eddy current testing equipment, acoustic emission testing equipment and others. In 2018, services market segment is valued to rule with the highest market share 2025.
On the basis of mode of testing, the global nondestructive testing services and equipment market is segmented into surface testing, volumetric testing, condition monitoring and integrity inspection. In 2018, surface testing segment is valued to rule with the highest market share 2025.
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On the basis of application, the global nondestructive testing services and equipment market is classified into flaw detection, leak detection, dimensional measurement, physical analysis, chemical analysis, plasma emission testing, corrosion emission testing, and others. Among these, in 2018 physical analysis dominated the market and the trend is expected to remain the same till 2025.
On the basis of industry, the global nondestructive testing services and equipment market is classified into automotive, oil and gas, energy and power, aerospace and defence and others. Among these, in 2018 oil and gas dominated the market and the trend is expected to remain the same till 2025. Among these, in 2018 oil and gas dominated the market and the trend is expected to remain the same till 2025.
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Based on geography, the market is segmented into 5 geographical regions
• North America
• Europe
• Asia-Pacific
• South America and
• Middle East & Africa
Key Drivers:
Prominent factors driving the growth of this market consist of remote visual inspection in aerospace increases demand, stringent safety guidelines and government protocols, automated NDT devices expected to see most demand, the power industry is boomed by continuous investment in nuclear plants and outsourcing of non-core activities and technical resource constraints driving the market.
Key Points:
General Electric is going to dominate the nondestructive testing services and equipment market following with Olympus Corporation, MISTRAS Group, Inc, Pfinder KG, Intertek Group plc, Nikon Metrology NV, Ashtead Technology, Sonatest, Bosello High Technology srl among others.
• Surface testing segment is expected to grow with the highest CAGR of 8.3% in the forecast period 2018 to 2025.
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