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Non-Destructive Testing (NDT) Market by Component, End-User, Technique, Application & Region - Global Forecast to 2022

  • ID: 4031994
  • Report
  • January 2017
  • Region: Global
  • 222 Pages
  • Markets and Markets
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Non-Destructive Testing Market is Estimated to be USD 15.06 Billion in 2016 and is Projected to Reach USD 24.23 Billion by 2022, at a CAGR of 8.24% from 2016 to 2022

FEATURED COMPANIES

  • Ashtead Technology, Inc.
  • GE Measurement & Control
  • Intertek Group PLC
  • Mistras Group, Inc.
  • Nikon Metrology, Inc.
  • Olympus Corporation
  • MORE

"Non-Destructive Testing (NDT) Market by Component (Equipment, Services) Method (Ultrasonic, Radiography, Liquid Penetrant, Magnetic) End-User (Oil & Gas, Aerospace & Defense, Automotive, Infra) Technique, Application & Region - Global Forecast to 2022"

"The non-destructive testing market is projected to grow at a CAGR of 8.24% from 2016 to 2022"

The non-destructive testing market is estimated to be USD 15.06 billion in 2016 and is projected to reach USD 24.23 billion by 2022, at a CAGR of 8.24% from 2016 to 2022. The non-destructive testing market is witnessing growth due to increasing demand for new infrastructures and the growing need to renovate the existing aging infrastructure. Outsourcing of non-destructive testing operations to third-party vendors and emergence of Industrial Internet of Things (IIoT) are additional factors propelling the growth of this market. However, the non-destructive testing market faces a series of challenges with respect to high cost of advanced non-destructive testing equipment and lack of skilled technicians.

"The oil & gas segment is estimated to account for the largest market share"

Based on end user, the oil & gas segment is estimated to account for the largest share of the non-destructive testing market in 2016. The aerospace & defense segment of this market is projected to grow at the highest CAGR from 2016 to 2022, owing to the extensive use of non-destructive techniques to detect flaws and imperfections in aerospace components. Moreover, factors such as safety, increased service intervals, reducing tolerance to disruption, low emission targets, and innovative materials have further contributed to the increased demand for non-destructive testing techniques in the aerospace & defense sector.

"The services segment is estimated to account for the largest market share"

Based on component, the non-destructive testing market has been segmented into equipment and services. The services segment is estimated to account for the largest share of the non-destructive testing market in 2016. The equipment segment of this market is expected to grow at the highest CAGR from 2016 to 2022, owing to increased quality awareness and the subsequent rise in demand for highly advanced products.

"The ultrasonic testing segment is estimated to account for the largest market share"

Based on method, the non-destructive testing market has been segmented into visual inspection, magnetic particle testing, liquid penetrant testing, ultrasonic testing, radiography, and eddy-current testing. The visual inspection segment is estimated to account for the largest share of the non-destructive testing market in 2016. The ultrasonic testing segment of this market is expected to grow at the highest CAGR from 2016 to 2022. Ultrasonic testing is used to measure the thickness of a wide range of metallic and non-metallic materials, and it is applicable in varied industries such as steel, manufacturing, aluminum construction, infrastructure, and power generation.

"Non-destructive testing market in BRICS countries is projected to grow at the highest CAGR from 2016 to 2022"

The BRICS countries are expected to lead the non-destructive testing market during the forecast period. BRICS countries that include China, India, Russia, Brazil, and South Africa collaboratively account for a significant share of the global non-destructive testing market in 2016. Increased spending on infrastructure and aerospace & defense sectors, coupled with the growing focus towards generation of nuclear energy is driving the growth of the non-destructive testing market.

Break-up of profile of primary participants for the non-destructive testing market:

  • By Company Type - Tier 1 - 55 %, Tier 2 - 20%, and Tier 3 - 25%
  • By Designation - C level - 35%, Director level - 25%, and Others - 40%
  • By Region - North America - 45%, Europe - 20%, Asia-Pacific - 30%, and RoW - 5%

Key companies operating in the non-destructive testing market include Olympus Corporation (Japan), MISTRAS Group, Inc. (U.S.), Intertek Group Plc. (U.K.), SGS S.A. (Switzerland), GE Measurement and Control (U.S.), Nikon Metrology, Inc. (U.S.), Ashtead Technology, Inc. (U.S.), Sonatest Ltd. (U.K.), Bosello High Technology S.R.L. (Italy), and Fujifilm Holding Corporation (Japan).

Research Coverage:

The report analyzes the non-destructive testing market on the basis of component, application, end user, method, and technique, and maps these segments and subsegments across G7 Nations, BRICS, and rest of the world. The report provides an in-depth market intelligence regarding the market dynamics and major factors that influence the growth of the non-destructive testing market (drivers, restraints, opportunities, and industry-specific challenges), along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the overall non-destructive testing market.

Reasons to Buy the Report:

From an insight perspective, this research report has focused on various levels of analysis-industry analysis (industry trends,), market share analysis of top players, supply chain analysis, and company profiles, which comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments; high-growth regions and countries and their respective regulatory policies; government initiatives; and market drivers, restraints, opportunities, and challenges for the non-destructive testing market.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on non-destructive testing service and equipment offered by top 10 players in the non-destructive testing market
  • Market Sizing: Market sizes for financial year, 2014-2015 and during the forecast period, 2016 to 2022
  • Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, restraints, and opportunities prevailing in the non-destructive testing market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
  • Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for non-destructive testing across varied regions
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading market players
READ MORE
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Ashtead Technology, Inc.
  • GE Measurement & Control
  • Intertek Group PLC
  • Mistras Group, Inc.
  • Nikon Metrology, Inc.
  • Olympus Corporation
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Distribution Channel Participants
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Indicators
                    2.2.2.1 Increase in Renewable Energy Use
                    2.2.2.2 Pipeline Network Safety
                    2.2.2.3 Growth in Aircraft Fleet Size
           2.2.3 Supply-Side Indicators
                    2.2.3.1 Increased R&D Activities
                    2.2.3.2 Development of Efficient Materials
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions & Limitations
           2.5.1 Assumptions
           2.5.2 Limitations

3 Executive Summary

4 Premium Insights
    4.1 Attractive Opportunities in NDT Market
    4.2 Non-Destructive Testing Market, By End User
    4.3 Non-Destructive Testing Market, By Method
    4.4 Opportunities in Non-Destructive Testing Market: Regional Analysis
    4.5 Non-Destructive Testing Market, By Technique
    4.6 BRICS Non-Destructive Testing Market, By End User
    4.7 Life Cycle Analysis, By Region

5 Market Overview
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Method
           5.3.2 By Technique
           5.3.3 By Application
           5.3.4 By Component
           5.3.5 By End User
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Extending the Useful Life of Aging Infrastructure
                    5.4.1.2 Outsourcing of Non-Core Activities and Technical Resource Constraints
                    5.4.1.3 Stringent Safety Regulations Formulated By Governments
                    5.4.1.4 Emergence of Industrial Internet of Things
           5.4.2 Restraints
                    5.4.2.1 Lack of Skilled Professionals
                    5.4.2.2 High Cost of Advanced Non-Destructive Testing Equipment
           5.4.3 Opportunities
                    5.4.3.1 New Power Generation Projects
                    5.4.3.2 Integration of Robotic Technology
                    5.4.3.3 Increasing Use of Advanced Materials
                    5.4.3.4 Large-Scale Infrastructure Projects
           5.4.4 Challenges
                    5.4.4.1 Price Volatility of Natural Gas and Crude Oil
                    5.4.4.2 Reluctance Towards the Adoption of New Non-Destructive Testing Techniques By End Users
           5.4.5 Winning Imperatives
                    5.4.5.1 Expanding End User Market
                    5.4.5.2 Expanding Geographical Reach
           5.4.6 Burning Issues
                    5.4.6.1 Lack of Skilled Workforce and Increasing Mechanical Complications
                    5.4.6.2 Rapid Industrial Transformation

6 Industry Trends
    6.1 Introduction
    6.2 Emerging Technology Trends
           6.2.1 Cloud Testing: Integrated Innovation Technology
           6.2.2 Robotic Integrated Technology
                    6.2.2.1 Film X-Ray vs Digital Radiography
           6.2.3 Industrial Internet of Things (IIoT)
    6.3 Product Launches
    6.4 Technological Advancements
    6.5 Innovation & Patent Registrations
    6.6 Non-Destructive Testing Regulatory Bodies, By Region
    6.7 Average Selling Price, 2016

7 Non-Destructive Testing Market, By Method
    7.1 Introduction
    7.2 Visual Inspection
    7.3 Magnetic Particle Testing
    7.4 Liquid Penetrant Testing
    7.5 Ultrasonic Testing
    7.6 Radiography Testing
    7.7 Eddy Current Testing
    7.8 Others
           7.8.1 Terahertz Imaging
           7.8.2 Magnetic Resonance Imaging
           7.8.3 Acoustic Emission Testing
           7.8.4 Near Infrared Spectroscopy
           7.8.5 Optical Microscopic Testing
           7.8.6 Thermographic Testing

8 Non-Destructive Testing Market, By Technique
    8.1 Introduction
    8.2 Surface Examination
    8.3 Volumetric Examination
    8.4 Condition Monitoring
    8.5 Integrity Examination Technique
    8.6 Others

9 Non-Destructive Testing Market, By Application
    9.1 Introduction
    9.2 Flaw Detection
    9.3 Leak Detection
    9.4 Dimensional Measurement
    9.5 Physical Property Determination
    9.6 Chemical Composition Determination
    9.7 Plasma Emission Spectrography
    9.8 Corrosion Resistance Testing
    9.9 Stress & Structure Analysis
    9.10 Others

10 Non-Destructive Testing Market, By Component
     10.1 Introduction
     10.2 Equipment
     10.3 Services

11 Non-Destructive Testing Market, By End User
     11.1 Introduction
     11.2 Aerospace & Defense
     11.3 Automotive
     11.4 Oil & Gas
     11.5 Infrastructure
     11.6 Power Generation
     11.7 Others

12 Non-Destructive Testing Market, By Region
     12.1 Introduction
     12.2 G7 Nations
             12.2.1 By End User
             12.2.2 By Method
             12.2.3 By Technique
             12.2.4 By Country
                        12.2.4.1 U.S.
                                     12.2.4.1.1 By End User
                                     12.2.4.1.2 By Method
                        12.2.4.2 Germany
                                     12.2.4.2.1 By End User
                                     12.2.4.2.2 By Method
                        12.2.4.3 Japan
                                     12.2.4.3.1 By End User
                                     12.2.4.3.2 By Method
                        12.2.4.4 U.K.
                                     12.2.4.4.1 By End User
                                     12.2.4.4.2 By Method
                        12.2.4.5 France
                                     12.2.4.5.1 By End User
                                     12.2.4.5.2 By Method
                        12.2.4.6 Canada
                                     12.2.4.6.1 By End User
                                     12.2.4.6.2 By Method
                        12.2.4.7 Italy
                                     12.2.4.7.1 By End User
                                     12.2.4.7.2 By Method
     12.3 BRICS
             12.3.1 By End User
             12.3.2 By Method
             12.3.3 By Technique
             12.3.4 By Country
                        12.3.4.1 China
                                     12.3.4.1.1 By End User
                                     12.3.4.1.2 By Method
                        12.3.4.2 India
                                     12.3.4.2.1 By End User
                                     12.3.4.2.2 By Method
                        12.3.4.3 Russia
                                     12.3.4.3.1 By End User
                                     12.3.4.3.2 By Method
                        12.3.4.4 Brazil
                                     12.3.4.4.1 By End User
                                     12.3.4.4.2 By Method
                        12.3.4.5 South Africa
                                     12.3.4.5.1 By End User
                                     12.3.4.5.2 By Method
     12.4 Rest of the World (RoW)
             12.4.1 By End User
             12.4.2 By Method
             12.4.3 By Technique
             12.4.4 By Country
                        12.4.4.1 Saudi Arabia
                                     12.4.4.1.1 By End User
                                     12.4.4.1.2 By Method
                        12.4.4.2 South Korea
                                     12.4.4.2.1 By End User
                                     12.4.4.2.2 By Method
                        12.4.4.3 Others
                                     12.4.4.3.1 By End User
                                     12.4.4.3.2 By Method

13 Competitive Landscape
     13.1 Introduction
     13.2 Brand Analysis
     13.3 Market Share Analysis
     13.4 Competitive Situations and Trends
             13.4.1 New Product Launches
             13.4.2 Acquisitions, Partnerships, Joint Ventures, and Agreements
             13.4.3 Contracts
             13.4.4 Expansions

14 Company Profiles
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)
     14.1 Introduction
             14.1.1 Financial Highlights
     14.2 Olympus Corporation
     14.3 Mistras Group, Inc.
     14.4 Intertek Group PLC
     14.5 SGS S.A.
     14.6 GE Measurement & Control
     14.7 Nikon Metrology, Inc.
     14.8 Ashtead Technology, Inc.
     14.9 Sonatest Ltd.
     14.10 Bosello High Technology S.R.L.
     14.11 Fujifilm Holding Corporation

- Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

15 Appendix
     15.1 Discussion Guide
     15.2 Knowledge Store: Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details

List of Tables

Table 1 Investments in Renewable Energy, By Country, 2015
Table 2 Total Length of the Pipeline Network, By Country, 2013 (Kilometers)
Table 3 Cost Comparision Between Film X-Ray and Digital Radiography
Table 4 Recent Product Launches in Non-Destructive Testing Market, 2014-2016
Table 5 Recent Technology Trends in Non-Destructive Testing Market, By Enduse Industry
Table 6 Important Innovation & Patent Registrations, 2011-2016
Table 7 Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 8 Types of Non-Destructive Testing Methods
Table 9 Visual Inspection Testing: Non-Destructive Testing Market, By Region, 2014-2022 (USD Million)
Table 10 Magnetic Particle Testing: Non-Destructive Testing Market, By Region, 2014-2022 (USD Million)
Table 11 Liquid Penetrant Testing: Non-Destructive Testing Market, By Region, 2014-2022 (USD Million)
Table 12 Ultrasonic Testing: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 13 Radiography Testing: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 14 Eddy Current Testing: Non-Destructive Testing Market, By Region, 2014-2022 (USD Million)
Table 15 Application of Terahertz Imaging, By Industry
Table 16 Application of Magnetic Resonance Imaging, By Industry
Table 17 Application of Acoustic Emission Testing, By Industry
Table 18 Applications of Near Infrared Spectroscopy, By Industry
Table 19 Application of Optical Microscopic Testing, By Industry
Table 20 Application of Thermographic Testing, By Industry
Table 21 Non-Destructive Testing Market Size, By Technique, 2014-2022 (USD Million)
Table 22 Application of Ultrasonic Transducers for Flaw Detection
Table 23 Flaw Detection Product ,By Key Players
Table 24 Techniques for Leak Testing
Table 25 Dimension Measurement Products, By Company
Table 26 Techniques Involved in Dimension Evalution
Table 27 Products for Physical Property Determination,By Company
Table 28 Ultrasonic Velocity and Concrete Structure Condition
Table 29 Methods for Corrosion Testing, By Category
Table 30 Non-Destructive Testing Techniques for Stress & Structures Damages
Table 31 Other Applications of Non-Destructive Testing
Table 32 Non-Destructive Testing Market Size, By Component, 2014-2022 (USD Million)
Table 33 Non-Destructive Testing Market Size, By Equipment, 2014-2022 (USD Million)
Table 34 Non-Destructive Testing Market Size, By Services, 2014-2022 (USD Million)
Table 35 Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 36 Non-Destructive Testing Market Future Outlook, By End User
Table 37 Aerospace & Defense : Non-Destructive Testing Market, By Region, 2014-2022 (USD Mn)
Table 38 Automotive: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 39 Oil & Gas: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 40 Infrastructure: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 41 Power Generation: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 42 Others: Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 43 Non-Destructive Testing Market Size, By Region, 2014-2022 (USD Million)
Table 44 G7 Nations: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 45 G7 Nations: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 46 G7 Nations: Non-Destructive Testing Market Size, By Technique, 2014-2022 (USD Million)
Table 47 G7 Nations: Non-Destructive Testing Market Size, By Country, 2014-2022 (USD Million)
Table 48 U.S.: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 49 U.S.: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 50 Germany: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 51 Germany: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 52 Japan: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 53 Japan: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 54 U.K.: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 55 U.K.: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 56 France: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 57 France: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 58 Canada: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 59 Canada: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 60 Italy: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 61 Italy: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 62 BRICS: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 63 BRICS: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 64 BRICS: Non-Destructive Testing Market Size, By Technique, 2014-2022 (USD Million)
Table 65 BRICS: Non-Destructive Testing Market Size, By Country, 2014-2022 (USD Million)
Table 66 China: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 67 China: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 68 India: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 69 India: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 70 Russia: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 71 Russia: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 72 Brazil: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 73 Brazil: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 74 South Africa: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 75 South Africa: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 76 RoW: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 77 RoW: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 78 RoW: Non-Destructive Testing Market Size, By Technique, 2014-2022 (USD Million)
Table 79 RoW: Non-Destructive Testing Market Size, By Country, 2014-2022 (USD Million)
Table 80 Saudi Arabia: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 81 Saudi Arabia: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 82 South Korea: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 83 South Korea: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 84 Others: Non-Destructive Testing Market Size, By End User, 2014-2022 (USD Million)
Table 85 Others: Non-Destructive Testing Market Size, By Method, 2014-2022 (USD Million)
Table 86 New Product Launches, 2013-2016
Table 87 Acquisitions, Partnerships, and Agreements, 2014-2016
Table 88 Contracts, 2014-2016
Table 89 Expansions, 2014-2015

List of Figures

Figure 1 Markets Covered: Non-Destructive Testing Market
Figure 2 Report Flow
Figure 3 Non-Destructive Testing Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Global Investments in Renewable Energy, 2009-2015
Figure 6 Global Investments in Renewable Energy Sector, 2015 (USD Billion)
Figure 7 Total Growth in Aircraft Fleet Size, 2015-2035
Figure 8 Market Size Estimation Methodology: Bottom-Up Approach
Figure 9 Market Size Estimation Methodology: Top-Down Approach
Figure 10 Data Triangulation Methodology
Figure 11 Non-Destructive Testing Market, By End User, 2016 & 2022 (USD Million)
Figure 12 BRICS Projected to Lead the Non-Destructive Testing Market From 2014 to 2022 (USD Million)
Figure 13 BRICS Projected to Grow at the Highest CAGR During the Forecast Period
Figure 14 India, A Lucrative Market to Invest During the Forecast Period
Figure 15 New Product Launches Was the Key Growth Strategy Adopted By Market Players From 2014 to 2016
Figure 16 The Non-Destructive Testing Market in BRICS Expected to Witness Significant Growth During the Forecast Period
Figure 17 Stringent Government Regulations and Increased Demand for Non- Destructive Testing Techniques Driving the Growth of the Non-Destructive Testing Market
Figure 18 Aging Infrastructure: Relationship Between Maintenance, Condition, and Time
Figure 19 U.S.: Government Expenditure Required to Upgrade the Existing Infrastructure (USD Billion)
Figure 20 Costs Involved in Degree of Automation
Figure 21 Worldwide Infrastructure Expenditure Across Major Sectors, By Region, 2010-2025 (USD Trillion)
Figure 22 Emerging Technology Trends in Non-Destructive Testing Market
Figure 23 The Visual Inspection Method Segment to Lead the Non-Destructive Testing Market in 2016
Figure 24 BRICS Projected to Lead the Visual Inspection Method Market From 2016 to 2022
Figure 25 BRICS Projected to Lead the Magnetic Particle Testing Method Market From 2016 to 2022
Figure 26 BRICS Projected to Lead the Liquid Penetrant Testing Segment of the Non-Destructive Testing Market By 2022
Figure 27 Long Range Ultrasonic Inspection Program
Figure 28 BRICS Projected to Lead the Ultrasonic Testing Method Segment of the Non-Destructive Testing Market From 2016 to 2022
Figure 29 BRICS Projected to Lead the Radiography Testing Method Segment of the Non-Destructive Testing Market From 2016 to 2022
Figure 30 BRICS Projected to Lead the Eddy Current Testing Method Segment of the Non-Destructive Testing Market By 2022
Figure 31 G7 Nations Projected to Lead the Integrity Technique Segment of the Non-Destructive Testing Market From 2016 to 2022
Figure 32 Oil & Gas Industry Dominates the NDT Market in 2016
Figure 33 BRICS Projected to Lead the Non-Destructive Testing Market for Aerospace & Defense During the Forecast Period
Figure 34 G7 Nations Estimated to Be the Largest Non-Destructive Testing Market for Automotive Sector in 2016
Figure 35 BRICS is Estimated to Be the Largest Non-Destructive Testing Market for Oil & Gas in 2016
Figure 36 BRICS Projected to Be the Largest Non-Destructive Testing Market for Infrastructure By 2022
Figure 37 BRICS is Estimated to Be the Largest Non-Destructive Testing Market for Power Generation in 2016
Figure 38 BRICS is Estimated to Be the Largest Non-Destructive Testing Market for Others in 2016
Figure 39 G7 Nations: Market Share, Country-Wise (2016)
Figure 40 The G7 Nations Non-Destructive Testing Market Witnessed Significant Growth in 2016, Owing to Contributions Made By Japan and Canada
Figure 41 G7 Nations Non-Destructive Testing Market Snapshot: 2016
Figure 42 BRICS Non-Destructive Testing Market Snapshot : 2016
Figure 43 RoW Non-Destructive Testing Market Snapshot: 2016
Figure 44 Companies Adopted Contracts & New Product Launches as Key Growth Strategies From 2014 to 2016
Figure 45 Brand Analysis of Top Players in the NDT Market
Figure 46 NDT Market Share Analysis, By Key Player, 2015
Figure 47 Number of Patent Applications Filed By Olympus Corporation in Japan
Figure 48 Number of Patent Applications Filed By Olympus Corporation Overseas
Figure 49 Strategic Benchmarking in NDT Market , 2014-2016
Figure 50 New Product Launch Was the Key Growth Strategy From 2014 to 2016
Figure 51 Regional Revenue Mix of Top Five Market Players, 2015
Figure 52 Financial Highlights of Major Players in the Non-Destructive Testing Market,2016
Figure 53 Olympus Corporation: Company Snapshot
Figure 54 Olympus Corporation: SWOT Analysis
Figure 55 Mistras Group, Inc.: Company Snapshot
Figure 56 Mistras Group, Inc.: SWOT Analysis
Figure 57 Intertek Group PLC: Company Snapshot
Figure 58 Intertek Group PLC: SWOT Analysis
Figure 59 SGS SA: Company Snapshot
Figure 60 SGS SA: SWOT Analysis
Figure 61 GE Measurement & Control: Company Snapshot
Figure 62 GE Measurement & Control: SWOT Analysis

Note: Product cover images may vary from those shown
3 of 4

FEATURED COMPANIES

  • Ashtead Technology, Inc.
  • GE Measurement & Control
  • Intertek Group PLC
  • Mistras Group, Inc.
  • Nikon Metrology, Inc.
  • Olympus Corporation
  • MORE

The non-destructive testing (NDT) market is estimated to be USD 15.06 Billion in 2016 and is projected to reach USD 24.23 Billion by 2022, at a CAGR of 8.24% from 2016 to 2022. The market is evolving with the increased demand for error-free production and service delivery in industries, such as infrastructure, automotive, aerospace & defense, industrial manufacturing, power generation, and oil & gas, among others. Strict safety regulations formulated by governments, the need to preserve aging infrastructure, and development of advanced automated non-destructive testing equipment are additional factors driving the growth of this market.

Based on method, the non-destructive testing market has been segmented into visual inspection, ultrasonic testing, radiography, magnetic particle testing, liquid penetrant testing, and eddy-current testing. The ultrasonic testing segment is projected to lead the non-destructive testing market during the forecast period, owing to the increasing demand for this testing method from manufacturing, aerospace & defense, infrastructure, power generation, automotive, and transportation industries. This testing method also helps detect the depth of internal flaws and determine thickness of parts.

Based on end user, the non-destructive testing market has been segmented into aerospace & defense, automotive, oil & gas, infrastructure, and power generation. The aerospace & defense segment is estimated to account for the largest share of the non-destructive testing market in 2016. The increasing demand for non-destructive testing in the aerospace & defense sector is mainly attributed to the fact that NDT helps ensure safety and efficiency in the production process of geometrically complex aircraft components.

The non-destructive testing market in BRICS is expected to grow at the highest CAGR during the forecast period. Extensive investments in shale oil & gas exploration as well as civil infrastructure, modernizing ports, rebuilding the crumbling infrastructure, rapid industrialization, and increasing investments in the nuclear power generation industry are key factors driving the growth of the non-destructive testing market in BRICS.

Non-Destructive Testing (NDT) Market

The high cost of equipment and lack of qualified technicians are some of the key factors that limit the growth of this market globally. In addition to this, reluctance towards the adoption of new inspection methods poses a key challenge for non-destructive testing equipment manufacturing companies.

The non-destructive testing market is diversified and competitive, with a majority of well-established players from the North American and European regions. Market players focus on entering new markets by launching technologically advanced and cost-effective products, and acquiring new businesses. New product launch is the key strategy adopted by industry players to strengthen their presence in the non-destructive testing market. Key players in this market include MISTRAS Group, Inc. (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), and SGS S.A. (Switzerland).

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  • Ashtead Technology, Inc.
  • Bosello High Technology S.R.L.
  • Fujifilm Holding Corporation
  • GE Measurement & Control
  • Intertek Group PLC
  • Mistras Group, Inc.
  • Nikon Metrology, Inc.
  • Olympus Corporation
  • SGS S.A.
  • Sonatest Ltd.
Note: Product cover images may vary from those shown
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