Non-Destructive Testing (NDT) Equipment performed while components or materials are in use can detect service-related conditions caused by wear, fatigue, corrosion, stress, or other factors. Examples of NDT Equipment include ultrasonic thickness gauges and handheld X-ray fluorescence analyzers.
Non-Destructive Testing Equipment Market is valued at $6.1 billion in 2015 and is expected to reach $13.8 billion by 2022 growing at a CAGR of 12.3% from 2015 to 2022. The major factors that are driving market growth are Government safety regulations for increasing demand to improve quality and longevity of the machines, quality control and user friendly software. Moreover, factors such as continuous advancement in electronics, automation and robotics, safety and reliable performance of the machines, and assured return on investment are also influencing the market growth. Lack of skilled technicians and high infrastructure cost are the factors restricting the market growth.
Major Key Players :
Sonotron, Sonatest Ltd, SGS S.A, Olympus Corporation, Nikon Metrology Inc, Mistras Group, Inc, Magnaflux Corporation, KARL STORZ GmbH & Co. KG, Intertek Group PLC, General Electric, GE Measurement & Control, GE Inspection technologies, Fujifilm Holding Corporation,
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Ultrasonic testing segment dominated the global market. Radiography is identified as one of the emerging NDT method and is anticipated to witness major technological innovations over the next decade. The power generation segment has accounted for largest share of the non-destructive testing equipment market in 2014. Increasing number of nuclear power plants and the subsequent increasing demand for machines used in power generation plants are the major factors driving this growth. Oil and gas segment was the second largest vertical segment in global market. North America was the largest regional segment driven by huge investments in energy verticals. Europe is the second largest market, mainly due to growth in automotive industry and rising demand for modernization of the oil and gas sectors. The Asia-Pacific region and the rest of the word (ROW) are also considered as promising markets, with favourable investments across China, Japan, India, and the Middle East.
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
3 Market Trend Analysis
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Non-Destructive Testing Equipment Market, By Application
5.7 Other Applications
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.5 Other Key Strategies
12 Company Profiling
12.1 Zetec Inc.
12.2 Yxlon International GmbH
12.4 Sonatest Ltd.
12.5 SGS S.A.
12.6 Olympus Corporation
12.7 Nikon Metrology Inc.
12.8 Mistras Group, Inc.
12.9 Magnaflux Corporation
12.10 KARL STORZ GmbH & Co. KG
12.11 Intertek Group PLC
12.12 General Electric
12.13 GE Measurement & Control
12.14 GE Inspection technologies
12.15 Fujifilm Holding Corporation
12.16 Fischer Technology Inc.
12.17 Eddyfi NDT Inc.
12.18 Dr. Foerster
12.19 Bosello High Technology S.R.L.
12.20 Ashtead Technology, Inc.
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