Non-Destructive Testing Equipment Market Trends and Forecast

Non-destructive testing equipment (NDT) is used to inspect the components or materials for discontinuities in features without hampering the serviceability of the system or part. Over the past few years, NDT has become a basic need in various industries including aerospace, petroleum, oil & gas and construction across the globe. These tests are generally used to evaluate the physical characteristics of materials such as fatigue strength, impact resistance, ductility, fracture toughness and tensile strength. Stringent government regulations related to quality control along with increasing demand from end-user industries are the leading drivers of the?non-destructive testing equipment industry?under the research period. Moreover the growing demand to improve the longevity and performance of the machines is also anticipated to augment market growth in the near future. However, shortage of skilled professionals and high cost of automated NDT equipment are major restraints foreseen under the study period.

Recent technological innovations in the #NDT equipment with the introduction of modern X-ray equipment including integrated X-ray equipment, #glass X-ray tubes, radiation shielded #xray equipment and others have increased the market penetration of the NDT equipment across various end-use industries. Rising #demand for NDT equipment to ensure product consistency and integrity to organize manufacturing processes will further #aid to the market #growth. Furthermore, non-destructive testing equipment also reduces the #manufacturing cost and maintains a regular quality level. Increasing incidences of infrastructure issues such as oil refinery blasts, nuclear leakages, and pipeline explosions have prompted strong regulations for #safety and #security thus driving the adoption of #NDT in the recent scenario.

The non-destructive testing (NDT) equipment market is segmented on the basis of technology into ultrasonic testing, electromagnetic testing, radiography testing, visual testing and others (including magnetic particle testing and liquid penetrant testing). Ultrasonic testing is a major technology segment and is anticipated to grow at the highest CAGR over the forecast period owing to its rising usage in various end-user industries including steel & aluminium construction, manufacturing, defence, aerospace and #automotive sectors.

Furthermore, non-destructive testing equipment market is sub-segmented based on end use industry into power generation, #aerospace & #defence, #oil & #gas, automotive industry and others (including plastic and polymer, and medical). The power generation is a leading end-user industry and is projected to grow significantly over the coming years due to an expansion of nuclear power projects and the subsequent growing demand for machinery used in power plants.

North America is a major market for NDT equipment and is anticipated to continue its dominance over the forecast period on account of rising capital investments in energy industries such as oil and gas. Asia Pacific is projected to grow at the fastest rate over the coming years owing to the high disposable income and presence of manufacturing units in the region.

The key industry players include Olympus Corporation , Magnaflux , Yxlon International Inc. (Del) GmbH, Nikon Metrology NV, MISTRAS Group, Inc. , Zetec ., Eddyfi Technologies , GE Measurement & Control Solutions Italia Srl .