Non Destructive Testing (NDT) Market Worth 18.88 Billion USD by 2020
Posted: 2015-12-30
The report "Non Destructive Testing (NDT ) Market by Method (UT, RT, LPT, MPT, ECT, VI), by End-User (Aerospace & Defense, Power Generation, Infrastructure, Oil & Gas, Automotive), by Technique, by Application & by Region (G7, BRICS, RoW) - Global Forecast to 2020", published by MarketsandMarkets 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.
Browse 88 market Tables and 96 Figures spread through 180 Pages and in-depth TOC on "Non Destructive Testing (NDT) Market".
http://www.marketsandmarkets.com/Market-Reports/nondestructive-testing-market-257342201.html
Early buyers will receive 10% customization on this report.
With the increase in automation in the industrial manufacturing and infrastructure sectors, there has been a substantial hike in the demand for flaw detection related to cracks, porosity, manufacturing disorders, and so on. Adherence to industrial safety norms is also a significant factor behind the growth of global NDT market.
Visual inspection segment is expected to be the major contributor to the overall NDT market
Visual inspection is considered as the primary and easiest NDT technique due to the fact that any defect can first be noticed by monitoring the components while operations. Visual inspection technique is applicable to aerospace & defense, automotive, oil & gas, petrochemical, power generation, industrial manufacturing, infrastructure, marine, offshore, and various other industries since it is a very common process of detecting faults which would lead to equipment failure. The simplicity as well as the economic benefits of visual inspection makes it a major contributor to the NDT market.
The oil & gas and power generation sectors registered the highest growth in almost all G7 countries
Huge shale oil & gas reserves in countries such as the U.S., the U.K., Germany, France, and Italy have increased the NDT market in these particular countries phenomenally as NDT inspection deters equipment failures which would lead to high economic repercussions in oil and gas extraction industries.
BRICS to witness highest growth in NDT market during the forecast period
The recently discovered shale gas reserves in China are expected to pose huge potential for non-destructive testing market. Russia, China, and India spend huge amounts of their GDP as defense expenditure hence these countries are also expected to drive the overall aerospace & defense end use segment of the non-destructive testing market in BRICS.
Ask for Sample Pages @ http://www.marketsandmarkets.com/pdfdownload.asp?id=257342201
The major players in the NDT equipment and service market include MISTRAS (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), and SGS SA (Switzerland).
The report segments and analyzes the NDT market on the basis of NDT methods (UT, RT, LPT, MPT, ECT, VI), by end-user (oil & gas, aerospace & defense, power generation, automotive, infrastructure), by techniques, applications, and maps these segments and sub-segments across G7 nations, BRICS, and rest of the world.
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About MarketsandMarkets
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
Browse 88 market Tables and 96 Figures spread through 180 Pages and in-depth TOC on "Non Destructive Testing (NDT) Market".
http://www.marketsandmarkets.com/Market-Reports/nondestructive-testing-market-257342201.html
Early buyers will receive 10% customization on this report.
With the increase in automation in the industrial manufacturing and infrastructure sectors, there has been a substantial hike in the demand for flaw detection related to cracks, porosity, manufacturing disorders, and so on. Adherence to industrial safety norms is also a significant factor behind the growth of global NDT market.
Visual inspection segment is expected to be the major contributor to the overall NDT market
Visual inspection is considered as the primary and easiest NDT technique due to the fact that any defect can first be noticed by monitoring the components while operations. Visual inspection technique is applicable to aerospace & defense, automotive, oil & gas, petrochemical, power generation, industrial manufacturing, infrastructure, marine, offshore, and various other industries since it is a very common process of detecting faults which would lead to equipment failure. The simplicity as well as the economic benefits of visual inspection makes it a major contributor to the NDT market.
The oil & gas and power generation sectors registered the highest growth in almost all G7 countries
Huge shale oil & gas reserves in countries such as the U.S., the U.K., Germany, France, and Italy have increased the NDT market in these particular countries phenomenally as NDT inspection deters equipment failures which would lead to high economic repercussions in oil and gas extraction industries.
BRICS to witness highest growth in NDT market during the forecast period
The recently discovered shale gas reserves in China are expected to pose huge potential for non-destructive testing market. Russia, China, and India spend huge amounts of their GDP as defense expenditure hence these countries are also expected to drive the overall aerospace & defense end use segment of the non-destructive testing market in BRICS.
Ask for Sample Pages @ http://www.marketsandmarkets.com/pdfdownload.asp?id=257342201
The major players in the NDT equipment and service market include MISTRAS (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), and SGS SA (Switzerland).
The report segments and analyzes the NDT market on the basis of NDT methods (UT, RT, LPT, MPT, ECT, VI), by end-user (oil & gas, aerospace & defense, power generation, automotive, infrastructure), by techniques, applications, and maps these segments and sub-segments across G7 nations, BRICS, and rest of the world.
Browse Related Reports
Aviation Test Equipment Market by Segments (Electrical, Hydraulic, Pneumatic, Power), by Application (Military and Commercial), & by Geography (North America, Latin America, Asia-Pacific, Europe, the Middle East, Africa & ROW) - Global Forecasts to 2020
http://www.marketsandmarkets.com/Market-Reports/aviation-test-equipment-market-139453393.html
Industrial Radiography Market by Imaging Technique (Film-Based and Digital), Industry (Petrochemical and Gas, Power Generation, Manufacturing, Aerospace, and Automotive and Transportation), and Geography - Global Forecasts to 2020
http://www.marketsandmarkets.com/Market-Reports/industrial-radiography-market-249604981.html
About MarketsandMarkets
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
