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Published Date: 2015-07-14Number of Pages: 67

Non-Destructive Testing Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021


Global non-destructive testing equipment market was valued at USD 3.21 billion in 2014, growing at a CAGR of 5.8% from 2015 to 2021. Non-destructive testing equipment are used to evaluate or inspect the materials, assemblies or components for discontinuities in characteristics without tearing down the serviceability of the part or system. These tests are often used to determine the physical properties of materials such as ductility, ultimate tensile strength, impact resistance, fatigue strength and fracture toughness. The non-destructive testing is used to ensure product reliability and integrity to control manufacturing processes. In addition, non-destructive testing equipment also lower the cost of production and sustains a uniform quality level. Stringent government safety regulations for quality control, ensure safety and reliable performance of the machines, and increasing demand to improve quality and longevity of the machines are the major factors responsible for growth of global non-destructive testing equipment market globally.

The global non-destructive testing equipment market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). North America led the global non-destructive testing equipment market in 2014 and is also expected to maintain its dominance in 2021 as well in this market. The growth in North America is primarily attributed due to huge investments in energy verticals such as oil and gas. Europe held the second largest share of the global non-destructive testing equipment market in 2014 followed by Asia Pacific and RoW respectively. Asia Pacific is expected to be the fastest growing regional market for non-destructive testing equipment.

The global non-destructive testing equipment market is segmented on the basis of technology into ultrasonic testing, radiography testing, electromagnetic testing, visual testing and others (including magnetic particle testing and liquid penetrant testing). Ultrasonic testing is holding the maximum market revenue share in 2014. The wide usage of ultrasonic testing in several industries such as steel and aluminum construction, manufacturing, aerospace and defense and automotive sectors are spurring the demand for this segment. 

The global non-destructive testing equipment market is further segmented by end use industry into power generation industry, oil & gas industry, aerospace and defense industry, automotive industry and others (including plastic and polymer, and medical). The global non-destructive testing equipment market is majorly dominated by power generation industry due to increasing number of nuclear power plants and the subsequent increasing demand for machines used in power plants. Automotive is expected to be the fastest growing end use industry in non-destructive testing equipment market followed by oil and gas industry.

nondestructive-testing-equipment

Non-destructive testing equipment are utilized in order to evaluate or inspect the materials, assemblies or components for discontinuities in their characteristics without affecting the serviceability of the part or system. The non-destructive testing equipment are used to determine the physical properties of materials such as ultimate tensile strength, ductility, impact resistance, fatigue strength and fracture toughness. In addition, non-destructive testing equipment also lowers the cost of production and sustains a uniform quality level. Furthermore, stringent government safety regulations for quality control, safety and reliable performance of the machines, and increasing demand to improve quality and longevity of the machines are the major factors that are driving the non-destructive testing equipment market globally.

Among all the end use industry segments, power generation industry holds the largest market share at present in the non-destructive testing equipment market. The main factors driving this growth of the power generation industry are increasing number of nuclear power plants and the subsequent increasing demand for machines used in power generation plants. In 2014, oil and gas industry was the second largest end use industry in the non-destructive testing equipment market globally. Non-destructive testing equipment are utilized in oil and gas operations on the critical assets such as tanks, vessels, heat exchangers and condensers, piping and rotating equipments to identify potential damage mechanisms. The increasing number of failures of oil and gas equipment and tools, especially of pipes are spurring the need of non-destructive testing equipment in this industry.

This market research study analyzes the non-destructive testing equipment market on a global level, and provides estimates in terms of revenue (USD billion) from 2015 to 2021. The report identifies the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years. 

The report segments the market on the basis of geography as North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). Furthermore, the report segments the market based on technology as ultrasonic testing, radiography testing, electromagnetic testing, visual testing and others (including magnetic particle testing and liquid penetrant testing). In addition, the market is segmented on the basis of end use industry which includes power generation, oil & gas, aerospace and defense , automotive and others (including plastic and polymer, and medical). All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).

North America represents the largest market share of the non-destructive testing equipment market. In 2014, North America accounted for largest revenue share in the global non-destructive testing equipment market. Large investments in energy verticals such as oil and gas are chiefly driving the market growth in North America. Europe holds the second largest market share in the non-destructive testing equipment market followed by Asia Pacific and RoW respectively.

For better understanding of the non-destructive testing equipment market, the study also includes competitive landscape and market attractiveness analysis, wherein applications are benchmarked based on their market scope, growth rate, and market attractiveness.

The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company details, product type, financial overview, historical roadmap, business strategies and the recent developments in the field of non-destructive testing equipment market. Major market participants in the non-destructive testing equipment market include Olympus Corporation (Japan), Magnaflux Corporation (United States), YXLON International GmbH (Germany), Nikon Metrology NV (Belgium), Mistras Group Inc. (United States), Zetec Inc. (United States), Eddyfi NDT Inc. (Canada), Sonatest Ltd. (United Kingdom) and GE Measurement & Control Solutions (United States).
The non-destructive testing equipment market is segmented as below:

Global non-destructive testing equipment market: by Technology
  • Ultrasonic Testing (UT)
  • Radiography Testing (RT)
  • Electromagnetic Testing (ET)
  • Visual Testing (VT)
  • Other
Global non-destructive testing equipment market: by End Use Industry
  • Power Generation
  • Oil & Gas
  • Aerospace and Defense
  • Automotive
  • Others
Global non-destructive testing equipment market: by Geography
  • North America
    • U.S.
    • Rest of North America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Rest of the World (ROW)
    • South America
    • Middle East
    • Africa


 
 
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