Innovation in Automated Equipment Drives Demand for Non-Destructive Test Equipment, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) January 09, 2015 -- Follow us on LinkedIn – As a method of testing materials and components for identifying defects, Non-Destructive Test (NDT) Equipment is finding widespread applications in a range of end-use sectors. Petrochemical, aviation and manufacturing industries represent few of the key application areas. Rising incidences of infrastructure failures such as refinery blasts, leakages in nuclear reactors, and pipeline explosions have prompted governments across the globe to enact stringent safety regulations, thus driving increased adoption of NDT equipment.
Several other factors, such as, technology advancements, growing use of machinery, increasing complexity of machines, high cost of machinery failure, stringent product usage specifications, and tight quality control requirements, are also helping drive demand for NDT equipment. Development of nanomaterials, and their use in manufacturing a range of structural equipment, is creating a need for NDT equipment that can perform inspection of such material and structures. Introduction of advanced, user-friendly, automated NDT equipment is resulting in the expansion of NDT equipment into non-traditional end-use markets such as mining and foundry, automotive manufacturing and aftermarket, chemical/refinery industry, transportation, and biomedical.
Ultrasonic, radiography and eddy-current testing equipment represent traditional product markets which have achieved tremendous success over the years. Future growth however is forecast to come from emerging new technologies such as X-Ray computed tomography, phased array ultrasonic and computed radiography Remote visual inspection equipment is also achieving considerable attention, with the aerospace sector especially mandating use of this equipment in a range of applications.
As stated by the new market research report on Nondestructive Test Equipment, Europe represents the largest regional market worldwide. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 10% over the analysis period. Demand in the region is led by establishment of new power and transportation infrastructure and rapid growth in automotive production bases in countries such as China and India.
Major players covered in the report include Acoustic Emission Consulting Inc., Bosello HighTechnology SRL, Centurion NDT Inc., Fischer Technology Inc., Extech Instruments Corp., Fujifilm Corporation, GE Measurement & Control, Everest VIT Inc., Gould-Bass Company Inc., Hamamatsu Photonics K.K., Insight NDT Equipment Ltd., ibg NDT Systems Corporation, INSTITUT DR. FOERSTER GMBH & CO. KG, KARL DEUTSCH Pruef- und Messgeraetebau GmbH + Co KG, KARL STORZ GmbH & Co. KG, Magnetic Analysis Corporation, MISTRAS Group Inc., NDT Systems Inc., NDTS India (P) Limited, Olympus Corporation, Sonatest Ltd., Wesdyne NDE Products Group, YXLON International Inc., and Zetec Inc. among others.
The research report titled “Nondestructive Test Equipment: Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product markets analyzed in the report include Radiography, Ultrasonic Inspection, Visual Inspection, and Others. Key end-use segments analyzed for the global market include Automotive, Military/Aerospace & Defense, Power Generation, Primary Metals & Foundry, and Oil & Gas, among others.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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