Non-Destructive Testing (NDT) Market Worth USD 11.39 Billion by 2022 – High Cost of Automated NDT Equipment & Lack of Skilled Personnel – Research and Markets
By Business Wire News
By Business Wire News
Research and Markets has announced the addition of the “Non-Destructive Testing and Inspection Market by Technique, Service, Vertical, and Geography – Global Forecast to 2022” report to their offering.
The non-destructive testing (NDT) market is expected to reach USD 11.39 Billion by 2022 at a CAGR of 8.30% between 2016 and 2022.
NDT assures safety and reliability by identifying flaws and defects in products without disrupting operations or delaying processes. Non-destructive testing has its applications in various industries such as aerospace & defense, automotive, oil & gas, infrastructure, and power generation.
North America held the largest share of the NDT market in 2015, and it is expected to grow at a moderate CAGR between 2016 and 2022. The market in APAC is estimated to grow at the highest rate during the forecast period. The demand for non-destructive testing in the APAC region is expected to be driven by increasing infrastructure projects and power plants.
There are few restraints for this market such as the high cost of automated NDT equipment and the lack of skilled and qualified personnel. The setup cost is high for automated equipment. As a result of which, many small scale organizations use simple inspection systems which might not be as reliable as the automated ones. Also, the lack of awareness about new technologies and less number of training centers are hampering the NDT market.
- General Electric Company
- Olympus Corporation
- Ashtead Technology Inc.
- Mistras Group Inc.
- Nikon Metrology N.V.
- Eddyfi NDT Inc.
- Magnaflux Corporation
- Zetec Inc.
- Sonatest Ltd.
- Bosello High Technology SRL
- Sonotron NDT
- Yxlon International GmbH
- Fischer Technology Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights (Page No. – 31)
5 Market Overview
6 Industry Trends
7 Non-Destructive Testing Market, By Technique
8 Non-Destructive Testing Market, By Method
9 Non-Destructive Testing Market, By Service
10 Major Applications in NDT Market
11 NDT Market, By Vertical
12 Non-Destructive Testing Market, By Geography
13 Competitive Landscape
14 Company Profiles
For more information visit http://www.researchandmarkets.com/research/2ntn98/nondestructive
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