Thursday, 31 July 2014

Global Analysis for Non-Destructive Testing (NDT) Equipment Market, 2012-2018

Nondestructive testing is a wide group of analysis techniques used to evaluate properties of components, systems and materials without altering the original properties. These testing technologies are gaining popularity due to its time and cost saving benefits over other material testing technologies. NDT testing methods include ultrasonic, remote visual inspection (RVI), liquid penetrant, magnetic-particle, eddy-current testing, low coherence interferometry and radiographics. NDT is comprehensively used in mechanical, forensic, electrical, systems, civil, and aeronautical engineering as well as art and medicine.
The NDT equipment industry represents huge growth potential in the future as it is one of the less impacted industries at times of financial crisis. The demand for NDT equipments used in inspections and quality checks observed an upward growth and is expected to grow at a significant rate due to the increasing importance for quality control among industry players across various verticals. North America is the largest regional market for NDT equipments due to stringent safety regulations implemented by the government which forces manufacturers to frequently engage in inspection activities. Asia-Pacific is expected to experience the fastest growth due to rapid growth in infrastructure, aerospace and power generation sectors particularly in emerging countries such as India, China and Indonesia.
Advancement in inspection software will further increase the demand for these equipments. Some of the key driving factors for this market are increasing demand for automation, assured return on investment and advancement in electronics. Some of the major challenges for the growth of this market are high inspection cost and lack of product knowledge. The rapidly growing service and automation industry represent the most potential end users for this market. Key players in this industry include YXLON international, GE Inspection technologies, Olympus Corporation, Nikon metrology, Mistras, Zetec, and Dr. Foerster.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
  • North America
  • Asia Pacific
  • Europe
  • Rest of the World
This report provides comprehensive analysis of
  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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