Description
The global Non-Destructive Testing (NDT) Market was valued at $14.94 Billion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $25.7 Billion.
Non-Destructive Testing (NDT) is the method which is used to examine an object, material or system without impairing its future usefulness, it is generally applied non-medical investigation of material integrity. It is the process of inspecting, testing, or evaluating material component or assemblies for discontinuities or differences in characteristics without destroying the serviceability of the part or a system.
Pricing Analysis
“Optimal Price Point (OPP) for Non-Destructive Testing (NDT)”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in theU.S.Non-Destructive Testing (NDT) materials are available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Non-Destructive Testing (NDT)Market “by Verticals”
We have segmented the Non-Destructive Testing (NDT)based on Verticals as Oil & Gas, Manufacturing, Aerospace & Defense, Construction, Automotive, Power Generation, Others.
We have observed the significant growth of non-destructive testing by oil & gas segment which dominates the market. Equipment for transporting petroleum products can be inspected without making any structural changes, equipment is not disturbing during NDT so requirement to stop or interrupt operation which boosts the market growth of NDT over the forecast period.
Non-Destructive Testing (NDT) Market by“Test Method”
We have segmented the Non-Destructive Testing (NDT) market based on Test Method are Visual, Magnetic Particle, Eddy Current, Ultrasonic, Radiographic.
We have observed the significant use of non-destructive testing by test method of ultrasonic. The ultrasonic test uses high-frequency sound energy to conduct measurement & examination. It is highly accurate in determining reflector positioning & estimating the size and shape & details image can be produced with an automated system which raises the demand for non-destructive testing during the forecast period.
Regional Segmentation
North America accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Non-Destructive Testing (NDT) followed by EU- Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
The key regions analyzed in the study include Asia Pacific, Europe, North America, Latin America and the Middle East and Africa. In 2017, Asia Pacific held the largest share for Non-Destructive Testing (NDT) market due to the demand for oil &Gas industry. The Asia Pacific is expected to have the highest growth due to China & this would be followed by Europe.
The demand for Visual, Magnetic Particle, Eddy Current, Ultrasonic, Radiographic with the increasing populations generates a demand for Non-Destructive Testing (NDT). We are observing that Non-Destructive Testing (NDT) are a good option as it can create a good impact for Oil & Gas, Manufacturing, Aerospace & Defense, Construction, Automotive, Power Generation, Other sectors.
“Competitive Landscape “and “Merger & Acquisition Insights”
The key market participants include Sonatest Ltd, Yxlon International GmbH, Mistras Group, Inc, Olympus Corporation, Nikon Corporation, General Electric Company, Fischer Technology Inc, Magnaflux Corporation are few major players in Non-Destructive Testing (NDT)markets. The market of Non-Destructive Testing (NDT)s is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Non-Destructive Testing (NDT) Market by Verticals (Revenue, Million, 2014 – 2025)
- Oil & Gas
- Manufacturing
- Aerospace & Defense
- Construction
- Automotive
- Power Generation
- Others
Non-Destructive Testing (NDT) Market by Test Method (Revenue, Million, 2014 – 2025)
- Visual
- Magnetic Particle
- Eddy Current
- Ultrasonic
- Radiographic
Non-Destructive Testing (NDT) materials Market Regional Outlook (Revenue,USD Million, 2014- 2025)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- Latin America
- Brazil
- Mexico
- Columbia
- Middle East and Africa
- South Africa
- Saudi Arabia
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