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|NDT.net Issue - 2016-02 - NEWS ||NDT.net Issue: 2016-02|
Publication: e-Journal of Nondestructive Testing (NDT) ISSN 1435-4934 (NDT.net Journal)
Non Destructive Testing (NDT) Market by Method (UT, RT, LPT, MPT, ECT, VI), End-User (Aerospace & Defense, Power Generation, Infrastructure, Oil & Gas, Automotive), Technique, Application & Region (G7, BRICS, RoW) – Global Forecast to 2020MarketsandMarkets18, Pune, MH, India
The non-destructive testing market is estimated to be valued at USD 12.98 Billion in 2015 and is projected to reach USD 18.88 Billion by 2020, at a CAGR of 7.78% from 2015 to 2020. Years considered for this study are 2014 as the base year and the projections are made up to 2020.
This report provides qualitative and quantitative information about the global NDT market. It identifies the market application gaps, emerging technologies, the need for new product launches, and high potential geographic regions and countries. It also provides a segmentation of the market, tracking the market size, market share, revenue projections, and financial portfolio, covering a broad spectrum of the different methods, end-user, applications, and techniques of NDT industry.
NDT is considered a basic need in industries such as aerospace, oil & gas, petroleum, and construction, among others. Innovations in the NDT equipment market have increased commercially after the introduction of advanced X-ray equipment such as micro focus X-ray tools, integrated X-ray equipment, glass X-ray tubes with window, radiation shielded X-ray equipment, and so on. Furthermore, the forecast period offers huge growth potential for technologies such as computed tomography, phased array ultrasonic testing, and data management tools as these techniques are more efficient in terms of deriving accurate results.
The research methodology used to estimate and forecast the NDT market begins with capturing data on key NDT equipment revenues through secondary research. The NDT service offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global NDT market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and sub-segments which are then verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, Directors and executives. This data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments. The breakdown of profiles of primary is depicted in the below figure:
The ecosystem of the NDT market comprises oil exploration industry, oil refineries, aerospace industry, construction industry, inspection service providers, and non-destructive testing facilities among other.
This report would help the NDT component supplier, NDT service providers, safety and regulatory authorities to identify hot revenue pockets in this market.
Target Audience for this Report:
Study answers several questions for the stakeholders, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments.
Scope of the Report
This research report categorizes the NDT market into the following segments and sub-segments:
Global NDT Market, By Method
Global NDT Market, By End-User
Global NDT Market, By Technique
Global NDT Market, By Geography
With the given market data, MarketsandMarkets offers customizations as per specific needs of a company. The following customization options are available for the report: