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Global Non-destructive Testing Equipment Market: Drivers
Increasing safety regulations for quality control, safety and reliable performance of machines are driving the adoption of Non-destructive testing equipment in end-use industries. Focus on improving the quality and longevity of the materials is also driving the growth of the market. Focus on maintaining quality and preventing breakdowns have also led to increased adoption of Non-destructive testing equipment in end-use industries.
Advancement in electronics, robotics, and automation and development of user-friendly software have made these equipment more appealing to end-users. Incorporation of Non-destructive testing equipment has shown to reduce maintenance and repair costs in the long run, fuelling their demand from end-use industries.
Global Non-destructive Testing Equipment Market: Restraints
Although Non-destructive testing equipment offers good ROI in the long run, high initial investment is a deterrent for many organisations. Lack of product knowledge and skilled manpower continue to be a challenge for the adoption of these machines.
Global Non-destructive Testing Equipment Market: Trends and Opportunities
There are significant opportunities for existing- and new- players to differentiate their offerings through product innovation and competitive price offerings. Resurgence in development of infrastructure after the recession of 2007-08 is expected to provide ample growth opportunities to manufacturers. For many construction projects, carrying out Non-destructive testing has become an integral part of the overall process, and this trend is only going to be stronger over the forecast period. Development of automatic and laser based testing equipment are also expected to create new avenues of growth for this market.
Global Non-destructive Testing Equipment Market: Key Players
The major companies involved in the production and manufacturing of Non-destructive testing equipment are GE Inspection Technologies, YXLON International, Mistras, Nikon Metrology, Olympus Corporation, Eddyfi, Sonatest Ltd., Magnaflux Corporation, Zetec Inc. etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The global Non-destructive testing equipment market is segmented on the basis of end-use verticals, services, technology, and geography.
On the basis of end use verticals, the global non-destructive testing equipment market is segmented into
- petrochemical and pipe
- manufacturing applications
- government infrastructure
- manufacturing applications
- public safety
- power generation
On account of services, the global non-destructive testing equipment market is segmented into
On the basis of technology, the global non-destructive testing equipment market can be segmented into
- radiography testing
- ultrasonic testing
- visual testing
- magnetic particle testing
- liquid penetrant testing
On the basis of geography, the global non-destructive equipment market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa (MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint