Global Nondestructive Testing Equipment and Services Market

The global market for nondestructive testing (NDT) equipment and services reached $15.8 billion in 2016. This market should reach more than $17.2 billion in 2017 and $26.4 billion by 2022, at a compound annual growth rate (CAGR) of 8.9% through 2022.

Report Includes

– An overview of the nondestructive testing (NDT) market.
– Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
– Identification of companies actively engaged in the development and manufacture of NDT equipment.
– A look at key NDT technologies, including their individual histories and applications.
– Discussion of key NDT end-user markets and sales by the technologies used within each market.
– Relevant patent analysis.
– Profiles of major players in the industry.

Study Goals and Objectives
This report will provide an overview of current technology developments and an assessment of the global market for Nondestructive Testing (NDT) equipment and services. The goals of the report are as follows:

– Provide an overview of NDT technologies.
– Identify companies engaged in the manufacture of NDT equipment and the global market for such equipment.
– Identify companies actively engaged in providing NDT services and the global market for such NDT services.
– Assess new developments by analyzing recent patents granted for NDT-related technologies.
– Identify technological and business issues that will impact the NDT industry.
– Provide an understanding of the market and technology so decision-makers will be able to evaluate and consider opportunities within this market.

Reasons for Doing This Study
Nondestructive Testing is playing a leading role in a number of key industries and applications for NDT are expanding rapidly. New NDT technologies are evolving in important ways and are becoming increasingly user-friendly. Many new industries have begun to use NDT techniques and are becoming significant consumers of this technology. The potential market for nondestructive testing equipment continues to expand with emphasis on product quality, lean manufacturing, just-in-time inventory practices, advances in nanomaterials, and related manufacturing, and testing. So, the market for NDT equipment is increasing rapidly. Additionally, many industries who cannot afford investment in NDT equipment or have properly trained personnel for using sophisticated NDT equipment, use the services of companies offering NDT services and the market for such services is also increasing. This report identifies the global market for various types of NDT equipment, as well as the global market for different NDT services being offered by various companies.

Intended Audience

This report is intended to help:

– Marketing managers to identify newer market opportunities and develop targeted promotional plans for NDT equipment and NDT services.
– Research and development professionals to stay on top of competitor initiatives and explore demand for NDT equipment and to develop new products suited for newer applications.
– Advertising agencies working with clients in the NDT equipment industry to understand the products and to develop messages and images that will influence consumers to purchase these products.
– Business development executives to understand the dynamics of the market and identify new markets for new NDT equipment as well as NDT services.
– Information and research center librarians to provide market researchers and brand and product managers with the information they need to do their jobs more effectively.

Scope and Format
The report has been prepared in a clear, easily understandable format with a number of tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for various types of NDT technologies and necessary equipment suitable for these technologies, as well as the market for NDT services offered by different companies around the world. This study provides an overview of NDT, developmental history of various NDT technologies, profiles of market leaders in NDT business and their new products as well as the consolidation trends within the industry.

Methodology
Both primary and secondary research methodologies were used in preparing this report. Initially, a comprehensive and exhaustive search of the literature on NDT was conducted. These sources include journals and related books, trade literature, marketing literature, other product/promotional literature, annual reports, security analyst reports and other publications. The methodology used to estimate and forecast the NDT market starts with capturing data on different vendor revenue through secondary research from various sources. The bottom-up procedure has been used to arrive at the global NDT equipment market from the revenues of key players in the market. After arriving at the overall market size, the total market has been split into several segments and sub-segments which have been verified through the primary research by conducting telephone interviews and email correspondence was conducted with marketing executives, product sales engineers, international sales managers, application engineers and other personnel of companies manufacturing as well as using NDT equipment. Other sources included magazines devoted to NDT, academics, technology suppliers, technical experts and consulting companies. A patent search and analysis were also conducted.

Related Reports: Testing Equipment Market Research Report

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