Press Release

Non-Destructive Testing (NDT) Market 2019 Significant Growth Rate by Industry Size, Share, Market Dynamics, Development Status of Key Players Forecast to 2024

Non-Destructive

The “Non-Destructive Testing (NDT) Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Non-Destructive Testing (NDT) market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Non-Destructive Testing (NDT) market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The non-destructive testing (NDT) market was valued at USD 15.67 billion in 2018 and is expected to reach a value of USD 23.1 billion by 2024, at a CAGR of 6.7% during the forecast period (2019 – 2024). Most of the non-destructive testing market is dependent on the oil and gas and aerospace sector. The NDT market has been affected severely by the recent fluctuations in crude oil prices, which is rendering loss to most players in the market.
  • Several governmental agencies and regional bodies, like the American Society of Mechanical Engineers (ASME) and the International Organization for Standardization (ISO), have been instituted across the world to take stringent measures for assuring the safety of instruments and overseeing of engineering services testing. This is important for gaining clearances and certificates from concerned authorities.
  • Over the past few years, there has been an incremental rise in the demand for skilled NDT technicians across the world. However, the demand, currently, outweighs supply due to a plethora of reasons.
  • NDT inspection companies have come under severe pressure, due to the supply/demand anomalies regarding the availability of certified professionals. Although many certifying organizations and training institutes have emerged in the recent times, NDT stands to be less attractive as a career in many Asian countries.

    Get a Sample Copy of the Report – https://www.industryresearch.co/enquiry/request-sample/13999430

    In Non-Destructive Testing (NDT) Market Report, Following Companies Are Covered:

  • Olympus Corporation
  • GE Measurement and Control
  • YXLON International GmbH (Comet Holdings AG)
  • Team, Inc.
  • Applus Services SA
  • Mistras Group, Inc.
  • SGS Group
  • Fujifilm Corporation
  • Bureau Veritas S.A.
  • Nikon Metrology NV
  • Intertek Group PLC.
  • Acuren Inspection, Inc.
  • TÜV Rheinland AG
  • Magnaflux Corporation

    Non-Destructive Testing (NDT) Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • Nondestructive testing (NDT) is the process of inspecting, testing, or evaluating materials, components, or assemblies for discontinuities or differences in characteristics without destroying the serviceability of the part or system. In other words, when the inspection or test is completed, the part can still be used.
  • In contrast to NDT, other tests are destructive in nature and are therefore done on a limited number of samples, rather than on the materials, components, or assemblies actually being put into service.
  • These destructive tests are often used to determine the physical properties of materials, such as impact resistance, ductility, yield and ultimate tensile strength, fracture toughness, and fatigue strength; but discontinuities and differences in material characteristics are more effectively found by NDT.

    Reasons for Buying Non-Destructive Testing (NDT) Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

    For More Information or Query or Customization Before Buying, Visit at – https://www.industryresearch.co/enquiry/pre-order-enquiry/13999430

    Key Market Trends:

    Power and Energy sector expected to hold Significant Share

    The main scope of NDT applications in the energy and power industry is to help ensure the safety, integrity, and reliability of plant equipment, such as pressure vessels, boilers, heat exchangers, pipework, and pipelines. The inspection of concrete structures is a part of plant life assessment, as these materials often form an essential part of the construction of such plant equipment.
    During the next four years, more than 67 nuclear reactors in the world are estimated to reach an age over 40 years, and over 66 reactors to reach more than three decades of operational period.
    Various regulations make it mandatory for such power plants to undergo a life assessment procedure as a safety measure. Regular inspection is required to check for any damage in the equipment and take necessary countermeasures to control them. This situation is expected to create increased opportunity for NDT equipment in the nuclear power sector.
    In the Middle East & Africa, power plants under construction, such as nuclear plants in the United Arab Emirates, coal-based plants in Africa, and replacement of older oil-based power plants by newer ones in Qatar and Saudi Arabia, are expected to drive the demand during the forecast period.

    United States to account for a Significant Share

    The United States has a mature non-destructive testing (NDT) market. The country’s highly active oil and gas and aerospace industries are the major sources of demand for the non-destructive testing equipment and services in the country.
    With the United States Department of the Interior (DoI) planning to allow offshore exploratory drilling in about 90% of the Outer Continental Shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program), the oil and gas sector in the country is expected to open up new opportunities to the market.
    Further, as the oil and gas industry output of the United States increases, the International Energy Agency predicts that the United States will add about 3.7 million barrels per day (mb/d) between now and 2023, with more than 70% of the new supply coming from the Permian and the Eagle Ford.
    According to the International Energy Agency (IEA), as of December 2017, there were only about 160,000 bpd of available space on the region’s pipeline network, which hardly accommodates about 4% of Texas’ output. As result, many pipeline projects were being taken up in the country in the past two years, to accommodate the impact of increasing oil and gas output.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Non-Destructive Testing (NDT) create from those of established entities?

    Purchase this Report (Price 4250 USD for single user license) – https://www.industryresearch.co/purchase/13999430

    Detailed TOC of Non-Destructive Testing (NDT) Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 STRINGENT REGULATIONS MANDATING SAFETY STANDARDS
    4.3.2 INCREASING INVESTMENTS IN AEROSPACE AND DEFENSE
    4.4 Market Restraints
    4.4.1 Lack Of Skilled Workforce And Training Regulations
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness Porters Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Equipment
    5.1.2 Services
    5.2 By Testing Technology
    5.2.1 Radiography
    5.2.2 Ultrasonic
    5.2.3 Magnetic Particle
    5.2.4 Liquid Penetrant
    5.2.5 Visual Inspection
    5.2.6 Eddy Current
    5.2.7 Other Testing Technologies
    5.3 By End User
    5.3.1 Oil and Gas
    5.3.2 Aerospace and Defense
    5.3.3 Automotive and Transportation
    5.3.4 Power and Energy
    5.3.5 Construction
    5.3.6 Other End Users
    5.4 Geography
    5.4.1 North America
    5.4.1.1 US
    5.4.1.2 Canada
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 UK
    5.4.2.3 France
    5.4.2.4 Spain
    5.4.2.5 Rest of Europe
    5.4.3 Asia Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 South Korea
    5.4.3.5 Rest of Asia-Pacific
    5.4.4 Latin America
    5.4.4.1 Brazil
    5.4.4.2 Argentina
    5.4.4.3 MEXICO
    5.4.4.4 COLUMBIA
    5.4.4.5 Rest of Latin America
    5.4.5 Middle East and Africa
    5.4.5.1 UAE
    5.4.5.2 Saudi Arabia
    5.4.5.3 South Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Olympus Corporation
    6.1.2 GE Measurement & Control Solutions
    6.1.3 YXLON International
    6.1.4 Team Inc.
    6.1.5 Applus+
    6.1.6 MISTRAS Group
    6.1.7 SGS Group
    6.1.8 Fujifilm Corporation
    6.1.9 Bureau Veritas S.A.
    6.1.10 Nikon Metrology NV
    6.1.11 Intertek Group Plc.
    6.1.12 Intertek Group Plc.
    6.1.13 TÜV Rheinland AG
    6.1.14 Magnaflux Corp.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS
    7.1 Investment Analysis

     

    Contact Us:

    Name: Ajay More

    Phone: US +14242530807/ UK +44 20 3239 8187

    Email: [email protected]

    Our Other Reports:

    Bacillus Subtilis Market 2019 – Business Size, Share, Opportunities, Future Trends, Top Key Players, Market Share and Global Analysis by Forecast to 2024

    Cannabis Concentrate Market 2019 Research by Business Opportunities, Top Manufacture, Industry Growth, Industry Share Report, Size, Regional Analysis and Global Forecast to 2024 | Industry Research Biz

    Global Meloxicam Drug Market 2019: Modest Condition, Size, Research Findings and Conclusion Forecast 2025

    Men Grooming Products Market Size 2019 – Global Industry Share, Comprehensive Study, Trends, Demand Status, and Regional Forecast to 2023

    Tags
  • Alfredoo Epps

    Alfredo Epps is a finance expert heading the petroleum column. He joined the group last year as an associate writer. But his thorough research skills and ability to seamlessly putting numerical data into words helped him get a senior position. Apart from a column head, Alfredo is a dancer and a violinist.

    Related Articles

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Close