Global Non-Destructive Testing Equipment Market is expected to reach USD 12,353.37 million by 2024 from USD 6,700.00 million in 2016, at a CAGR of 8.1% in the forecast period 2017 to 2024.
The major factors driving the growth of this market are remote visual inspection in aerospace increases demand, stringent safety guidelines and government protocols, automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants.
The key market players for Non-Destructive Testing Equipment Market are listed below:
â€¢ General Electric
â€¢ Olympus Corporation
â€¢ Fujifilm Holding Corporation
â€¢ MISTRAS Group, Inc.,
â€¢ Nikon Corporation,
â€¢ Ashtead Group plc.,
â€¢ Bosello High Technology srl,
â€¢ Socomore, Zetec, Inc.
The market is further segmented into:
â€¢ End User
The global non-destructive testing equipment market is segmented on the basis of equipment type, mode of testing, application, industry, and geography. The global non-destructive testing equipment market is segmented into ultrasonic test equipment, magnetic particle test equipment, visual inspection equipment, radiography test equipment, penetrant test equipment, eddy current testing equipment, acoustic emission testing equipment and others.
Based on equipment type, the global non-destructive testing equipment market is segmented into ultrasonic test equipment, magnetic particle test equipment, visual inspection equipment, radiography test equipment, penetrant test equipment, eddy current testing equipment, acoustic emission testing equipment and others.
Based on mode of testing, the global non-destructive testing equipment market is segmented into surface testing, volumetric testing, and condition monitoring and integrity inspection.
Based on application, the global non-destructive testing equipment market is classified into flaw detection, leak detection dimensional measurement, physical analysis, chemical analysis, plasma emission testing, corrosion emission testing and others.
Based on industry, the global non-destructive testing equipment market is classified into automotive, oil and gas, energy and power, aerospace and defense and others.
Based on geography, the Non-Destructive Testing Equipment market is segmented into 11 geographical regions, such as,
â€¢ North America,
â€¢ South America,
Covered in this report
The report covers the present scenario and the growth prospects of the Non-Destructive Testing Equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UCandC) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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