DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/zw4gcx/nondestructive) has announced the addition of the "Non-Destructive Testing Equipment & Services Market by Contact Methods, Non-Contact, Services, Application & Geography - Analysis & Global Forecast 2013-2020" report to their offering.
The global non-destructive testing market is estimated to grow at a CAGR of 8.96% to reach $6.88 billion by 2020
Out of the Non-Destructive Testing (NDT) methods ultrasonic testing, radiographic testing, and eddy current testing are expected to capture most of the market size owing to the various applications across end user segments. Ultrasonic testing has been the prime choice among the end users for fault determination as it is non-hazardous to operators or nearby personnel and does not affect the material being tested and provides instantaneous results and with the continuous innovation in the ultrasonic NDT testing. Radiographic testing is likely to intercept conventional technologies in the near future.
The demand for the NDT equipment used in inspections and quality has observed a significant growth and is expected to grow due to the increasing importance for quality control among industry players across various industry verticals. North America holds the largest market size in the NDT equipment due to increasing use of Non-Destructive Testing (NDT) in maintaining and inspecting the aging infrastructure and strict safety regulations implemented by the U.S. government which forces manufacturers to regularly engage in inspection activities.
The key drivers for non-contact NDT market are strong government safety regulations, user friendly software, automation, and robotics. The Asia-Pacific region is expected to observe significant growth due to rapid growth in infrastructure and power generation in the countries such as India, China, and Japan. This creates an ample of opportunities for the Non-Destructive Testing (NDT) companies in these countries.
Since the NDT equipment used are very complex in their kinematics and very expensive, and they not only differ widely but there is also lack of NDT equipment knowledge among the end users, all these are acting as a driver for the growth of Non-Destructive Testing (NDT) services market such as Non-Destructive Testing (NDT) inspection, Non-Destructive Testing (NDT) training, Non-Destructive Testing (NDT) renting services, and Non-Destructive Testing (NDT) consultation services are growing rapidly with high growth potential in the future. There is a lot of opportunity for the existing players and new entrants to innovate and differentiate the products range.
Key players in the Non-Destructive Testing (NDT) include GE Measurement & Control (U.S.), Olympus Corporation (Japan), Nikon Metrology (Belgium), Mistras Group, Inc. (U.S.), and Zetec (U.S.).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Non-Destructive Testing Market, By Methods
8 Non-Destructive Testing Market, By Services
9 NDT Market, By Vertical
10 Non-Destructive Testing Market- By Application
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Ashtead Technology
- Bosello High Technology Srl
- Fischer Technology, Inc.
- General Electric
- Magnaflux Corporation
- Mistras Group Inc.
- Nikon Metrology Inc.
- Olympus Corporation
- Sonatest Ltd.
- Yxlon International GMBH
- Zetec Inc.
For more information visit http://www.researchandmarkets.com/research/zw4gcx/nondestructive