The research and analysis conducted in Non-Destructive Testing Equipment report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of global market research analysis. This report has been designed in such a way that it provides very evident understanding of the business environment and Non-Destructive Testing Equipment industry. Nevertheless, this global market research report unravels many business problems very quickly and easily. Due to high demand and the value of market research for the success of different sectors, Non-Destructive Testing Equipment Market report is provided that covers many work areas.
Global Non-Destructive Testing Equipment Market is valued at an estimated USD 7,901.95 million in 2018, and this value is projected to rise to USD 15,288.79 million by 2026, undergoing with a CAGR of 8.60% in the forecast period of 2019-2026. Most of the Non-Destructive Testing market is dependent on the Oil & Gas market and the Aerospace & Defence sector. The NDT market has been affected several times by the recent fluctuations in the crude Oil prices, which is rendering loss to most players in the market.
Market Definition: Global Non-Destructive Testing Equipment Market
Non-Destructive Tests does not affect the future usefulness of the object being tested, hence its name –Non Destructive. NDT Market and inspection is an extremely valuable technique for timely evaluation and diagnosis of faults in products. It is also used for detecting faults and veracity in industrial assets and public infrastructures. NDT is also used to detect faults and structural integrity in industrial assets and public infrastructures.
- 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 growing need for extending the life of obsolete infrastructure
- Lack of skilled equipment operators
- High cost of NDT Equipment
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Segmentation: Global Non-Destructive Testing Equipment Market
- Ultrasonic Testing (UT)
- Visual Inspection Testing
- Magnetic Particle Testing (MPT)
- Liquid Penetrant Testing (LPT)
- Eddy Current Testing (ECT)
- Radiographic Testing (RT)
- Acoustic Emission Testing (AET)
- Visual Inspection
- Surface Inspection
- Volumetric Inspection
- Inspection Services
- Equipment Rental Services
- Calibration Services
- Training Services
- Oil & Gas
- Energy & Power
- Aerospace & Defence
- Public Infrastructure
- Automotive & Transportation
- Power Generation
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2018, Avitas Systems, a GE Venture, collaborated with Limelight Networks, Inc. for using its private network and distributed cloud infrastructure. Avitas Systems Platform also utilizes GE’s containerized Predix Edge solution, allowing users to continue to benefit from the use and functionality of GE’s Predix application services suite.
- In May 2018, Olympus Corporation introduced IPLEX G Lite industrial videoscopea, useful to capture images inside aircraft engines, piping, and other equipment without the need for disassembly. The new videoscope will be exhibited at the Automotive Engineering Exposition
Competitive Analysis: Global Non-Destructive Testing Equipment Market
Global Non-Destructive Testing Equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Non-Destructive Testing Equipment market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Key Market Competitors: Global Non-Destructive Testing Equipment Market
Few of the major competitors currently working in the Global Non-Destructive Testing Equipment are Baker Hughes a GE company LLC, Olympus Corporation, YXLON International, MISTRAS Group, Inc. , Zetec Zetec,Inc., FOERSTER Holding GmbH, Nikon metrology NV, SGS Group,SGS SA, Fujifilm Holdings Corporation, Bureau Veritas S.A., Acuren, NDT Global, Cygnus Instruments Inc., Magnaflux, Eddyfi, Bosello High Technology srl, T.D. Williamson, Inc., Sonaspection , LynX Inspection , 5 RESEARCH DRIVE, SHELTON, CT 06484 , Fischer Technology, Inc.and others.
The Non-Destructive Testing Equipment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Non-Destructive Testing Equipment market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Non-Destructive Testing Equipment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Non-Destructive Testing Equipment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Non-Destructive Testing Equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Non-Destructive Testing Equipment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Non-Destructive Testing Equipment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Non-Destructive Testing Equipment market. These figures have been provided in terms of both revenue and volume for the period 2020 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Non-Destructive Testing Equipment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Non-Destructive Testing Equipment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
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The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Non-Destructive Testing Equipment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Non-Destructive Testing Equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Non-Destructive Testing Equipment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Non-Destructive Testing Equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Non-Destructive Testing Equipment market. These factors have benefited the growth of the global market for Non-Destructive Testing Equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
In this study, the years considered to estimate the market size of Non-Destructive Testing Equipment are as follows:
- Historic Year: 2017-2020
- Base Year: 2019
- Forecast Year 2020 to 2027
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
(**NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.)
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Table of Content:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
- Market outline
PART 05: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 06: MARKET SIZING
- Market definition
- Market sizing 2021
- Market size and forecast
PART 07: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 08: MARKET SEGMENTATION BY PRODUCT
- Global Non-Destructive Testing Equipment market by product
- Comparison by product
- Market opportunity by product
PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Global Non-Destructive Testing Equipment market by distribution channel
- Comparison by distribution channel
- Global Non-Destructive Testing Equipment market by offline distribution channel
- Global Non-Destructive Testing Equipment market by online distribution channel
- Market opportunity by distribution channel
PART 10: CUSTOMER LANDSCAPE
PART 11: MARKET SEGMENTATION BY END-USER
- Global Non-Destructive Testing Equipment market by end-user
- Comparison by end-user
PART 12: REGIONAL LANDSCAPE
- Global licensed Non-Destructive Testing Equipment market by geography
- Regional comparison
- Licensed Non-Destructive Testing Equipment market in Americas
- Licensed Non-Destructive Testing Equipment market in EMEA
- Licensed Non-Destructive Testing Equipment market in APAC
- Market opportunity
PART 13: DECISION FRAMEWORK
PART 14: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 15: MARKET TRENDS
PART 16: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 17: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
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