Non-destructive Testing Equipment Market Is Projected To Witness Swift Growth In 2018: Report By Radiant Insights, Inc

San Francisco, May 16, 2016 (GLOBE NEWSWIRE) -- Non-destructive testing equipment market is anticipated to undergo significant gains. Expanding infrastructure sector worldwide coupled with rising demand for enhancing longetivity and quality of machines will boost the demand. Additionally, Non-destructive testing is examination of materials for flaws and faults in accordance with standard norms devoid of damaging the object tested. The equipment is effectively used to analyze physical properties of materials such as fracture toughness ultimate tensile design.

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Appearance of next-generation technologies such as phased array ultrasonic, X-ray computed tomography is projected to replace the traditional technologies. This will provide prominent opportunities for the product’s market expansion. Also, the improvement in semiconductor, sensors, automation technologies are integrating with asset management and integrity solution. Augmenting customer expectations coupled with development of new materials will attribute in market growth.

Key factors driving the non-destructive testing equipment market are product’s reliable performance, user-friendly and strict government regulation for society. Also, expanding need for extending the life of aging assets will drive the market demand further. High infrastructure costs coupled with lack of awareness among end-users may challenge market growth.

The market is classified based on contact and non - contact methods. Electromagnetic testing, eddy current testing, ultrasonic testing and pentrant testing are the contact methods. On the other hand, non- contact methods include radiography testing, thermography, shearography and visual inspection.

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Based on verticals, the market is split into aerospace, petrochemical & gas, automotive and public safety and government infrastructure. Additionally, iron foundry, tube manufacturing and mining and ship building industry are the key applications. Inspection, rental training and consultation are the services in the market. Inspection services are sub-segmented into ultrasonic, eddy current, surface and visual NDT. Rising applications of Eddy current in gas, petrochemical and power generation, is driving the segment demand.

Region wise, North America dominated the non-destructive testing equipment market due to extensive investments in energy verticals such as oil & gas boosting the demand. Key players operating in global non-destructive testing equipment market are Ashtead Technology, Eddyfi NDT Inc, Nikon Meterology, Sonatest Ltd. and Mistras Group Inc.

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About Radiant Insights

Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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Source: Radiant Insights