NDT Equipment Market: Introduction
Laboratory or on-site testing of the each material before construction is extremely essential to avoid future disasters. With the ever-increasing growth in the construction and manufacturing industries, along with the ever-rising demand for efficient laboratory-grade NDT equipment solutions for material science research in both, developing and developed nations, the demand for NDT equipment testing solutions is increasing steadily across the globe. The NDT equipment tester is used to test materials that are pre-requisite for construction, including aggregate, cement, asphalt, bituminous rocks and others. As the construction industries and material testing laboratories in North America, Europe and Asia Pacific is expanding, the demand for NDT equipment is expected to increase.
NDT equipment testers incorporate a non-destructive technique in order to measure a material’s strength, detect internal flaws, and calculate low strain modulus. The NDT equipment measures the speed on an ultrasonic wave passing through the material and thus, enables the operator to eliminate the requirement of intrusive destructive testing. The primary strength of NDT equipment method lies in detecting general variations in conditions, such as areas of weakness in an otherwise sound concrete structure. Moreover, the growing demand for electrical equipment products is also creating potential growth opportunities for NDT equipment market. In addition, the growing manufacturing industry in Asia Pacific, especially in China, India, and Japan is creating potential opportunities for the growth of NDT equipment market.
NDT Equipment Market: Drivers and Challenges
Simplicity plays a major role in driving the global NDT equipment market. The NDT equipment method incorporates the concept of measuring the time of the ultrasonic wave’s first arrival from one side of specimen to the other. The adoption rate of NDT equipment solutions in the case of laboratories and other institutions committed to civil engineering research and development is expected to rise steadily during the forecast period. The increased adoption is estimated to, in turn, drive the NDT equipment market.
The high prices of NDT equipment is one of the major challenge for the growth of NDT equipment market. Moreover, the technology requires skilled personnel for statistical analyses and for efficient process. On the other hand, research laboratories and organizations need to make heavy investments in order to procure and maintain modern NDT equipment. These are the primary factors, which are acting as a challenges for the NDT equipment market growth during the assessment period.
NDT Equipment Market: Competition Landscape
Some of the key vendors identified in the NDT Equipment market includes Zetec Inc., Olympus Corporation, Eddyfi NDT Inc., GE Measurement & Control Solutions, Sonatest Ltd., Bosello High Tech SRL, Yxlon International GMBH, Fischer Technology Inc., MISTRAS Group Inc., Magnaflux Corporation, and Nikon Corporation.
NDT Equipment Market: Regional Overview
On the basis of geography, the largest NDT equipment market share is held by North America, owing to the adoption of safety and health with innovative technologies in the region. SEA & Others of APAC and Western Europe are also expected to gain substantial NDT equipment market shares in the coming years, owing to the rapid adoption of nondestructive testing equipment. China is pegged to be the fastest growing NDT Equipment market, due to the initiatives being taken by the government of the country and players in the market towards technological advancements.
The NDT Equipment markets in Latin America and MEA are also expected to witness high growth rates in the coming period, due to the rise in the adoption of smart electronic devices with inbuilt software, especially in the multiple industries, such as construction and mining.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual NDT Equipment Market Size, 2013 - 2017
- Market Size & Forecast 2018 to 2028
- Supply & Demand Value Chain for the NDT Equipment Market
- Global Market Current Trends/Issues/Challenges
- Competition & Companies involved in NDT Equipment Market
- NDT Equipment Market Solutions Technology
- Value Chain of the NDT Equipment Market
- Global NDT Equipment Market Drivers and Restraints
Regional analysis for the NDT Equipment Market includes
- North America Market
- Latin America Market
- Rest of Latin America
- Western Europe Market
- Rest of Western Europe
- Eastern Europe NDT Equipment Market
- Rest of Eastern Europe
- SEA & Others of APAC NDT Equipment Market
- Australia and New Zealand
- Rest of SEA & Others of APAC
- Japan Market
- China Market
- Middle East and Africa Market
- GCC Countries
- Northern Africa
- South Africa
- Rest of MEA
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.
NDT Equipment Market: Segmentation
The NDT equipment market can be segmented on the basis of technology, end user, and region.
Segmentation of the NDT Equipment market on the basis of technology:
- Magnetic Particle Testing
- Ultrasonic Testing
- Visual Inspection
- Liquid Penetrant Testing
- Eddy Current
- Radiography Testing
Segmentation of the NDT Equipment market on the basis of end user:
- Oil & Gas
- Power & Energy
- Automotive & Transportation
- Aerospace & Defense
- Detailed overview of parent market
- Changing market dynamics of 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 product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.