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|NDT.net Issue - 2019-03 - NEWS ||NDT.net Issue: 2019-03|
Publication: e-Journal of Nondestructive Testing (NDT) ISSN 1435-4934 (NDT.net Journal)
Non Destructive Testers (NDT) Equipment Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 - 2028Future Market Insights, London, United Kingdom
NDT Equipment Market: Introduction
Laboratory or on-site testing of the each material before construction is extremely essential to avoid future disasters. With the ever-increasing growth in the construction and manufacturing industries, along with the ever-rising demand for efficient laboratory-grade NDT equipment solutions for material science research in both, developing and developed nations, the demand for NDT equipment testing solutions is increasing steadily across the globe. The NDT equipment tester is used to test materials that are pre-requisite for construction, including aggregate, cement, asphalt, bituminous rocks and others. As the construction industries and material testing laboratories in North America, Europe and Asia Pacific is expanding, the demand for NDT equipment is expected to increase.
NDT equipment testers incorporate a non-destructive technique in order to measure a material’s strength, detect internal flaws, and calculate low strain modulus. The NDT equipment measures the speed on an ultrasonic wave passing through the material and thus, enables the operator to eliminate the requirement of intrusive destructive testing. The primary strength of NDT equipment method lies in detecting general variations in conditions, such as areas of weakness in an otherwise sound concrete structure. Moreover, the growing demand for electrical equipment products is also creating potential growth opportunities for NDT equipment market. In addition, the growing manufacturing industry in Asia Pacific, especially in China, India, and Japan is creating potential opportunities for the growth of NDT equipment market.
NDT Equipment Market: Drivers and Challenges
Simplicity plays a major role in driving the global NDT equipment market. The NDT equipment method incorporates the concept of measuring the time of the ultrasonic wave’s first arrival from one side of specimen to the other. The adoption rate of NDT equipment solutions in the case of laboratories and other institutions committed to civil engineering research and development is expected to rise steadily during the forecast period. The increased adoption is estimated to, in turn, drive the NDT equipment market.
The high prices of NDT equipment is one of the major challenge for the growth of NDT equipment market. Moreover, the technology requires skilled personnel for statistical analyses and for efficient process. On the other hand, research laboratories and organizations need to make heavy investments in order to procure and maintain modern NDT equipment. These are the primary factors, which are acting as a challenges for the NDT equipment market growth during the assessment period.
NDT Equipment Market: Segmentation
The NDT equipment market can be segmented on the basis of technology, end user, and region.
Segmentation of the NDT Equipment market on the basis of technology:
Segmentation of the NDT Equipment market on the basis of end user:
NDT Equipment Market: Competition Landscape
Some of the key vendors identified in the NDT Equipment market includes Zetec Inc., Olympus Corporation, Eddyfi NDT Inc., GE Measurement & Control Solutions, Sonatest Ltd., Bosello High Tech SRL, Yxlon International GMBH, Fischer Technology Inc., MISTRAS Group Inc., Magnaflux Corporation, and Nikon Corporation.
NDT Equipment Market: Regional Overview
On the basis of geography, the largest NDT equipment market share is held by North America, owing to the adoption of safety and health with innovative technologies in the region. SEA & Others of APAC and Western Europe are also expected to gain substantial NDT equipment market shares in the coming years, owing to the rapid adoption of nondestructive testing equipment. China is pegged to be the fastest growing NDT Equipment market, due to the initiatives being taken by the government of the country and players in the market towards technological advancements.
The NDT Equipment markets in Latin America and MEA are also expected to witness high growth rates in the coming period, due to the rise in the adoption of smart electronic devices with inbuilt software, especially in the multiple industries, such as construction and mining.
The report covers exhaustive analysis on:
Regional analysis for the NDT Equipment Market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.