NDT Market Worth $1.7B by 2020
According to a new report of "Nondestructive Testing Market by Application (Dimensional measurement, Flaw detection, Leak detection, Estimation of physical properties, Chemical composition determination, stress and structure analysis), Technology (Visual testing, Magnetic particle testing, electromagnetic testing, Liquid penetrant testing, Radiography testing, Ultrasonic testing, Thermography testing, acoustic emission testing), End user (Aerospace and defense industry, Automotive industry, Oil & gas industry, Infrastructure industry, Power generation), & Geography (North America, Latin America, Europe, Asia-Pacific, Middle-East) - Forecast & Analysis 2014-2020" published by MarketsandMarkets, the market is estimated to grow at a CAGR of 3.5% to reach $1720.96 Million by 2020.
Nondestructive testing is testing of objects for their flaws and imperfections in accordance with some standard norms. The stringent government safety regulations in the aerospace and defense industry and commercial industry will drive the growth of NDT market. Rapid infrastructural development in developed as well as developing economies has fuelled in the growth of the NDT market.
The U.S. and Europe are the major revenue generating regions for NDT. Latin America and Asia-Pacific are the emerging markets for NDT. Brazil, India, and China are the countries, which have immense growth potential for NDT. APAC will be the leading market for nondestructive testing, due to the high growth in sectors like infrastructure, power generation, and aerospace in countries like India and China.
This report provides the Nondestructive Testing Market segmentation on the basis of application, technology, end user, and geography. The report explains the drivers, restraints and challenges in the NDT market. The NDT market is witnessing a spree of mergers, partnerships, and acquisitions among market players, which has resulted in a wide range of challenges and opportunities. It provides information on the regional, end user, technology, and consolidation trends in the NDT market.
This report provides a complete analysis of the global NDT market for the next six years. The report provides a complete revenue forecast and analysis for North America, Latin America, Europe, Asia-Pacific, and Middle East. The competitive landscape provides information about the major players in the NDT market and their market share in the NDT market for 2013. The report also provides overviews of the leading companies in the NDT market on the basis of their financial position, markets, and key developments. The major companies involved in global nondestructive testing industry are Mistras (U.S.), Olympus Corporation (Japan), Intertek Plc. (U.K), SGS S.A (Switzerland), G.E. Measurement and Control (Massachusetts).
Browse more than 54 market data Tables with 58 Figures spread through 217 Pages and in-depth TOC on "Nondestructive Testing Market" HERE.