DUBLIN--(BUSINESS WIRE)--The "Global Non Destructive Market for Infrastructure Industry - Market Trends and Forecasts (2016 - 2021)" report has been added to Research and Markets' offering.
The overall NDT services market is expected to be $2.3 billion and is expected to grow at a CAGR of 9.5% and reach $4 billion by the end of 2020. The global equipment market is estimated to be $1.5 billion and is expected to grow at a CAGR of 8.7%.
The services market is driven by aging infrastructure and the increasing need for its maintenance in developed regions like the US and Western Europe. The global recession and the European Sovereign Debt crisis have slowed down the economy drastically, thereby making investments in new projects nearly non-existent. However, the need for NDT testing is unaffected as the financial implications of failure are much greater than the cost of testing. This is a core driver of the services market.
The increasing number of infrastructure projects in APAC and Latin America has greatly increased the need for NDT. Government regulations combined with environmental mandates because of increasing pollution levels has made NDT mandatory in these emerging countries. With innovative technologies coming into the picture for power production and aging oil refineries, the power generation and oil and gas industries hold highest market share during the forecast period.
The economies of China, India, South Korea, Indonesia, Brazil and Mexico, among others, have had a steady GDP growth over the years, attracting investors from around the world to invest in different sectors. Migration of the general population from rural areas to urban areas has increased in these countries, resulting in demand for housing and other facilities. With the construction sector booming in these countries, the non-destructive testing market has flourished because it is a necessity in getting clearances for buildings.
- Mistras Group, Inc.
- Olympus Corporation
- Exova Holdings Limited
- Applus RTD
- Arcadia Aerospace Industries,LLC
- X-R-I Testing
- GE Measurement & Control Solutions
- FujiFilm Holdings
- Intertek Group PLC.
- Flir Systems Inc.
Key Topics Covered:
2. Key Findings
3. Market Overview & Dynamics
5. Porter's Five Forces Analysis
6. Non Destructive Testing for Infrastructure Sector Market Segmentation
7. Company Profiles
8. Investment Analysis
9. Future of Non Destructive Testing Market for Infrastructure Sector
For more information about this report visit https://www.researchandmarkets.com/research/nlpzbl/global_non