Seattle, WA -- (SBWIRE) -- 09/01/2017 -- According to the new market research report "Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2023", the non-destructive testing (NDT) market is expected to be worth USD 12.06 Billion by 2023, growing at a CAGR of 7.83% between 2017 and 2023. Factors that are driving the market growth include continuous advancements in electronics, and automation and robotics, growing adoption of IoT solutions, and need to prolong the lifespan and increase the capability of aging assets.

Browse 79 Market Data Tables and 45 Figures spread through 202 Pages and in-depth TOC on "Non-Destructive Testing and Inspection Market - Global Forecast to 2023"

Download Free Sample Pages @ http://www.marketsandmarkets.com/pdfdownload.asp?id=882

Early buyers will receive 10% customization on reports.

The ultrasonic testing technique to hold the largest share of the non-destructive testing market

Ultrasonic testing accounted for the largest market share in 2016. It is a fast, reliable, and versatile technique of inspection which has helped expand the boundaries of NDT inspection. It can detect internal and hidden discontinuities such as lack of fusion, cracks, and lack of bond. The rapid infrastructural development and aging infrastructure is fueling the growth of the ultrasonic testing technique in NDT market.

Market for the manufacturing vertical expected to grow at the highest rate during 2017–2023

The market for the manufacturing vertical is expected to grow rapidly between 2017 and 2023. This sector is expected to be driven by government policies and safety awareness for non-destructive testing. Also, the increasing demand for the manufacturing of aircraft, electronic equipment would raise the need for NDT inspection.

North America expected to hold the largest market share during the forecast period

North America has been a leading player in NDT market in 2016. The oil and gas vertical accounted for the largest share of the market in North America. The reason behind this growth is the increasing demand for NDT services for subsea pipelines applications as they are used to inspect corrosion, cracking, manufacturing flaws, welds, and deposits. The US held the largest share of the North American NDT market in 2016.

General Electric Company (US), Olympus Corporation (Japan), Ashtead Technology Ltd. (UK), MISTRAS Group Inc. (US), Nikon Corporation (Japan), Magnaflux Corporation (US), Zetec Inc. (US), Sonatest Ltd. (UK), Sonotron NDT (Israel), Bosello High Tech SRL ( Italy), Yxlon International GmbH (Germany), Fischer Technology Inc. (US), and Eddyfi NDT Inc. (Canada) are the key players in the market.

Browse Report Details @ http://www.marketsandmarkets.com/Market-Reports/non-destructive-testing-ndt-equipment-services-market-882.html

This research report categorizes the global non-destructive testing market on the basis of technique, method, service, vertical, and geography. This report describes the drivers, restraints, opportunities, and challenges for the growth of the NDT market.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com