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. Surface testing market with highest market share has the largest market segment in non-destructive testing equipment market.
Pune, India -- (SBWIRE) -- 06/25/2018 -- Segmentation: Global Non-Destructive Testing Equipment Market
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)
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Drivers: Global Non-Destructive Testing Equipment Market
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. These factors increase the demand for non-destructive testing equipment products. Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants are the other factors driving the growth of the non-destructive testing equipment market.
REMOTE VISUAL INSPECTION IN AEROSPACE INCREASES DEMAND
Remote visual inspection (RVI) is used in examining the internals of different structure and component in both during the manufacture of the components and during the service period. It is also utilized for the inspection in corrosion, cracks, internal gaps, blockages and even in the different object detection. Due to the extensive use of the remote visual inspection in aerospace has really risen the demand of NDT market.
STRINGENT SAFETY GUIDELINES AND GOVERNMENT PROTOCOLS
Non-destructive equipment is majorly found in the end user industries. Therefore, government are making stringent rules and regulation regarding quality control and personnel safety. Instances such as leakages in nuclear reactors, explosions of pipelines and refinery blasts had made the government to set up the safety guidelines, as a result, leads to drive the NDT equipment market.
AUTOMATED NDT DEVICES EXPECTED TO SEE MOST DEMAND AND THE POWER INDUSTRY IS BOOMED BY CONTINUOUS INVESTMENT IN NUCLEAR PLANTS
The non-destructive testing equipment market is expected to show significant growth in the coming years, due to Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants. Continuous investment is being done in the nuclear plants due to fuel failures in PWR/VVER reactors, fuel assembly damages, structural deficiencies and configurations, end plug weld control, corrosion and many more.
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Major Players: Global Non-Destructive Testing Equipment Market
Some of the major players operating in this market are:-
MISTRAS Group, Inc,
General Electric (GE MEASUREMENT AND CONTROL),
Intertek Group plc,
Nikon Metrology NV,
Bosello High Technology srl,
FUJIFILM Holdings Corporation,
Diodes Incorporated (Zetex),
Magnaflux, and SOCOMORE,
The global non-destructive testing equipment market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. General Electric dominates non-destructive testing equipment market, accounting for the highest market share in 2016, followed by Olympus Corporation and Fujifilm Holding Corporation. Other players in this market include MISTRAS Group, Inc, Pfinder KG, General Electric (GE MEASUREMENT AND CONTROL), Intertek Group plc, SGS SA, Nikon Metrology NV, Ashtead Technology, Sonatest, Bosello High Technology srl, FUJIFILM Holdings Corporation, YXLON International, Diodes Incorporated (Zetex), Magnaflux, and SOCOMORE, among others holds 29.1% of the global non-destructive testing equipment market in 2016.
Founded in 2004 and headquartered Little Chalfont, United Kingdom. GE healthcare provides transformational medical technologies and services. GE operates through seven business segments power, renewable energy, oil & gas, aviation, healthcare, transportation, and energy connections & lighting. The GE Digital Solutions offers the non-destructive testing equipment through its inspection & non-destructive testing and aerospace non-destructive testing (NDT) and inspection solutions product categories.
Founded in 1919 and headquartered in Tokyo, Japan. Olympus Corporation manufactures and distributes precision machineries and instruments. The company operates in medical, scientific solutions, imaging, and others business segments. The NDT products are used for the detection of the flaws in the instruments without any damage.
Fujifilm Holding Corporation:
Founded in 1934 and headquartered in Tokyo, Japan. Fujifilm Holding Corporation are pioneering photographic film maker, known for innovation in healthcare, graphic arts, optical devices, highly functional materials and other high-tech areas. The company operates in imaging solution, information solutions and document solutions business segments. The industrial segment provides the non-destructive testing systems in the regions such as North America, Europe and Asia-Pacific through it's widely spread distributors.
In January, 2014, Fujifilm's Non-Destructive Testing System added line-up of quality chemistry solutions for stationary and mobile film processing in conventional industrial radiography applications with the ChemPact powdered chemistries.
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Table of Contents:
2. MARKET SEGMENTATION
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
5. GLOBAL NON DESTRUCTIVE TESTING EQUIPMENT MARKET, BY EQUIPMENT TYPE
6. GLOBAL NON DESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY
7. GLOBAL NON DESTRUCTIVE TESTING EQUIPMENT MARKET, BY APPLICATION
8. GLOBAL NON DESTRUCTIVE TESTING EQUIPMENT MARKET, BY INDUSTRY
9. GLOBAL NON-DESTRUCTIVE TESTING EQUIPMENT MARKET, BY GEOGRAPHY
10. GLOBAL NON-DESTRUCTIVE TESTING EQUIPMENT MARKET, COMPANY LANDSCAPE
11. COMPANY PROFILES
12. RELATED REPORTS
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