Non-Destructive Testing Equipment Market is Expected to Reach USD 12,353.37 Million by 2024

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Non-Destructive Testing Equipment Market Global
Industry Trends and Forecast to 2024
Global Non-Destructive Testing 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 and Forecast to 2024
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Report Factors
Global Non-Destructive Testing Equipment Market
is expected to reach USD 12,353.37 million by
2024 from USD 6,700.00 million in 2016, at a CAGR
of 8.1 in the forecast period 2017 to 2024. The
new market report contains data for historic
years 2015, the base year of calculation is 2016
and the forecast period is 2017 to 2024. The
major factors driving the growth of this market
are remote visual inspection in aerospace
increases demand, stringent safety guidelines and
government protocols, automated NDT devices
expected to see most demand and the power
industry is boomed by continuous investment in
nuclear plants.
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Market Segmentation
The global non-destructive testing equipment
market is segmented on the basis of equipment
type, mode of testing, application, industry, and
geography. The global non-destructive testing
equipment market is segmented into ultrasonic
test equipment, magnetic particle test equipment,
visual inspection equipment, radiography test
equipment, penetrant test equipment, eddy current
testing equipment, acoustic emission testing
equipment and others. Based on equipment type,
the global non-destructive testing equipment
market is segmented into ultrasonic test
equipment, magnetic particle test equipment,
visual inspection equipment, radiography test
equipment, penetrant test equipment, eddy current
testing equipment, acoustic emission testing
equipment and others.
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Market Segmentation
On the basis of mode of testing, the global
non-destructive testing equipment market is
segmented into surface testing, volumetric
testing, condition monitoring and integrity
inspection. On the basis of application, the
global non-destructive testing equipment market
is classified into flaw detection, leak detection
dimensional measurement, physical analysis,
chemical analysis, plasma emission testing,
corrosion emission testing and others. On the
basis of industry, the global non-destructive
testing equipment market is classified into
automotive, oil and gas, energy and power,
aerospace and defence and others.
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Key Drivers
Some of the major factors driving the market for
non-destructive testing equipment market are
remote visual inspection in aerospace increases
demand, stringent safety guidelines and
government protocols. Lack of skilled
equipment operators and high cost of NDT
equipment slowing down acceptance are the factor
which may hinder the growth of this market
Many companies are increasingly focusing on
variability in the prices of crude oil and
natural gas in order to strengthen their product
portfolios in the non-destructive testing
equipment market. New power generation
products and integration of robotic technology
will drive the market in future.
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Key Points
General Electric is going to dominate the
non-destructive testing equipment market
following with Olympus Corporation and Fujifilm
Holding Corporation along with others such as
MISTRAS Group, Inc., PFINDERKG, Nikon
Corporation, Ashtead Group plc., Sonatest,
Bosello High Technology srl, Magnaflux, Socomore,
Zetec, Inc. among others. Radiography test
equipment market is growing with the highest
CAGR Surface testing are driving the market
with highest market share Ultrasonic test
equipment are dominating the non-destructive
testing equipment market
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