Industry Headlines / NDT

Stringent Government Safety Regulations Drive Demand for Non-Destructive Test Equipment

GIA announces the release of a comprehensive global report on Nondestructive Test Equipment markets.

June 25, 2013
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With consumers becoming increasingly concerned about productivity of capital assets during their operating life, interest in test solutions is rising. As a method of testing materials and components for identifying defects in material properties before they cause equipment failure, Non-Destructive Test (NDT) Equipment is finding great demand in a range of end-use sectors. Non-Destructive testing presents a most economical means of testing, while safeguarding physical asset usability for intended purpose. Flexibility represents the hallmark benefit offered by NDT procedures since testing can be carried out during an equipment’s active use. NDT equipment can be used on sampling basis for independent testing or can be used for comprehensive investigation as a part of quality control setup.

Stringent product usage specifications, strong government safety regulations mandating safety of personnel, and tight quality control requirements are especially driving demand for NDT Equipment. Instances of infrastructure failures such as refinery blasts, leakages in nuclear reactors, and pipeline explosions, in the recent years, have prompted governments across the globe to enact stringent safety regulations, thus driving increased adoption of NDT equipment. The trend towards retention of legacy equipment and structural assets as an austerity measure among industries also gives opportunity for growth in the NDT equipment market. NDT equipment is increasingly being used to monitor operational feasibility and ensure safe extended use of aging and legacy plant assets. Developments in nanomaterials and advanced components and use of the same for manufacturing a range of structural equipment is also creating need for NDT equipment that can perform inspection of such material and structures.

Technology developments such as introduction of automated NDT equipment and miniaturization will continue to expand opportunities in the market. Integration of robotics technology in particular is helping manufacturers introduce easy-to-use automated NDT equipment, which are typically preferred in large-scale industries such as power generation, oil & gas, mining and aerospace. Developments in software and hardware, which ensure high-speed data processing and accelerated detection of damages in materials, are also offering lucrative opportunities for NDT equipment. R&D and product development efforts in recent years have been especially geared towards producing easy to use, small, lightweight and portable instruments, capable of producing accurate results, while simultaneously reducing response time. Small and easy to use, miniaturized NDT equipment are especially growing in prominence in oil & gas, refinery and power sector, particularly for testing in offshore sites such as oil wells, refineries, and wind turbines.

As stated by the new market research report on Nondestructive Test Equipment, Asia-Pacific represents the largest as well as the fastest growing market with a projected CAGR of 9.9% over the analysis period. Demand in the region is led by establishment of power and transportation infrastructure and rapid growth in automotive production bases in China and India. Ultrasonic Inspection NDT equipment represents the largest product segment, while visual inspection NDT equipment is forecast to grow the fastest at a CAGR of about 7.4% over the analysis period. Strong demand for remote visual inspection particularly in power generation, foundry & primary metals and oil & gas sectors will continue to boost market prospects.

Major players covered in the report include Acoustic Emission Consulting, Inc., Bosello HighTechnology SRL, Centurion NDT, Fischer Technology, Inc., FLIR Systems, Inc., Extech Instruments Corp., Fujifilm Corporation, FUJIFILM NDT Systems, GE Measurement & Control, Everest VIT Inc., Gould-Bass Company, Inc., Hamamatsu Photonics KK, Insight NDT Equipment Ltd., ibg NDT Systems Corporation, INSTITUT DR. FOERSTER GMBH & CO. KG, KARL DEUTSCH Pruef- und Messgeraetebau GmbH + Co KG, KARL STORZ GmbH & Co. KG, Magnaflux Corporation, Magnetic Analysis Corporation, MISTRAS Group, Inc., NDT Systems, Inc., NDTS India (P) Limited, NIKON CORPORATION, Olympus Corporation, Sonatest Ltd., SONOTRON NDT, Wesdyne NDE Products Group, YXLON International Inc., and Zetec Inc. among others.

The research report titled “Nondestructive Test Equipment: Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product markets analyzed in the report include Radiography, Ultrasonic Inspection, Visual Inspection, and Others. Key end-use segments analyzed for the global market include Automotive, Military/Aerospace & Defense, Power Generation, Primary Metals & Foundry, and Oil & Gas, among others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Nondestructive_Test_Equipment_Market_Report.asp

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