Global “Non-Destructive Testing (NDT) Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Non-Destructive Testing (NDT) in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Non-Destructive Testing (NDT) Market report categorizes the market based on manufacturers, regions, type, and application. Non-Destructive Testing (NDT) Market reports offer a detailed assessment of the Non-Destructive Testing (NDT) including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Non-Destructive Testing (NDT) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The non-destructive testing (NDT) market was valued at USD 13766.4 million in 2017 and is expected to reach a value of USD 20368.1 million by 2023, at a CAGR of 6.71% during the forecast period (2018 – 2023).
The NDT solutions are techniques used to test objects for flaws and inadequacies in the materials, components or system, without causing damages to it. In the recent years, governments across the globe are focusing on the safety issues and needs, to prevent accidents. NDT assures the reliability by evading the jeopardy of over-sightedness and is expected to aid in elevating the efficiency of the manufacturing establishments. Major applications of the market are found in oil & gas, aerospace and defense, and power generation sectors. The market was recently exposed to the uncertainties in the oil prices and is recovering from gaining momentum in the upstream oil & gas sector. Advancements in technology are expanding the scope of the market towards the pharmaceutical and food & beverages also, which are expected to add up to the increasing global demand in the next four years.
Gaining Momentum in Upstream Oil & Gas Sector to Increase Demand for NDT
Since the drop in oil prices in early 2014, from USD 100 per barrel to USD 50 per barrel, the upstream sector of oil & gas industry suffered from the lack of investments to carry out exploration and production activities. However, in 2016, there was a modest increase in the up-stream activities lead by North America and the Middle East regions. Although most of the oil-producing countries in the Middle East are constrained by the norms of Oil Producing and Exporting Countries (OPEC), there has been a considerable up-stream activity in the region.
It is estimated that more than USD 337 billion is already being spent on the active upstream projects under execution in the Middle East, while an additional USD 622 billion worth infrastructure development is being planned. All of these investments made by the Middle East governments are said to be an effort to remain as the top oil & gas producer and exporter in the world. In case of North America, the newly found shale gas resources are strengthening their import and export activities especially into Latin America and Europe countries. One of the primary reasons for increased cross-border oil transactions in North America is that down-stream sector of North America is not equipped to process the local shale resources. Most of the refineries in the region are built to handle heavy foreign crude and cannot yield expected results with shale gas produced locally. This is one of the primary reasons why even under low crude oil prices the region exported considerable volumes of crude oil. This upbeat in the upstream sector is expected to improve with further strengthening oil prices in the near future, opening up opportunities to the NDT market.
Rising Construction Activity in the UK to Increase Demand in Europe
Post-Brexit, the growth prospects for the construction industry in the UK have been declining, as the nation left the European Union. The growth for 2018 is expected to increase by 0.7%, which has been slowest in the past six years. However, for now, the output is expected to rise by 1.6% in 2017, due to a steep rise from new construction contracts and activity in the GBP 6.9 billion public housing repair, and maintenance that is required after Grenfell Tower fire incident. The private non-residential Repair & Maintenance sector experienced a growth of around 3%, while the public non-residential Repair & Maintenance sector kept on declining.
In the UK, every day more than 25,000 inspections are carried out in factories and on-site to detect defects and damage in a vast range of products, plant, and structures. The primary driver behind the growth of NDT industry in the construction sector in the nation is the need for assessment of aging infrastructure driven by financial and environmental pressures for better long-term management. The sector also has high employment rate, both directly and indirectly, through associated supply chains. Besides, UK is a major exporter of knowledge and technical expertise and is a market leader in infrastructure asset management.
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The global Non-Destructive Testing (NDT) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Non-Destructive Testing (NDT) Market Report covers the Top Key-players in 2021:-
- MISTRAS Group
- SGS Group
- Fujifilm Corporation
- Olympus Corporation
- Bureau Veritas S.A.
- GE Measurement and Control
- Nikon Metrology Inc.
- Intertek Group Plc
- Applus Services
- Acuren Inspection
- TEAM Inc
- YXLON International GmbH ( COMET Group)
- TÜV Rheinland AG
- Magnaflux Corp.
Highlighted points of Non-Destructive Testing (NDT) Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Non-Destructive Testing (NDT) Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Non-Destructive Testing (NDT)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Non-Destructive Testing (NDT) Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Non-Destructive Testing (NDT) Market? What Was Capacity, Production Value, Cost and PROFIT of Non-Destructive Testing (NDT) Market?
- What Is Current Market Status of Non-Destructive Testing (NDT) Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Non-Destructive Testing (NDT) Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Non-Destructive Testing (NDT) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Non-Destructive Testing (NDT) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Non-Destructive Testing (NDT) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Non-Destructive Testing (NDT) Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Non-Destructive Testing (NDT) Industry?
Key Developments in the Non-Destructive Testing (NDT) Market:
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Finally, the report Global Non-Destructive Testing (NDT) Market 2021 describes the Non-Destructive Testing (NDT) industry expansion game plan, the Non-Destructive Testing (NDT) industry knowledge supply, appendix, analysis findings, and the conclusion.
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