Global Non Destructive Testing Market Equipment and Services Industry | Page 2

REPORT DESCRIPTION
The overall NDT services market is expected to be $2.3 billion and is expected to grow at a CAGR of
9.5% and reach $4 Billion by the end of 2020. The global Equipment Market is estimated to be $1.5
Billion and is and is expected to grow at a CAGR of 8.7%. The Services market is driven by the ageing
infrastructure and increasing need of maintenance in developed countries like the US and Western
Europe.
The Global recession and the European Sovereign Debt crisis have slowed down the economy
drastically thereby making investments in new projects nearly nonexistent. However the need for
NDT testing is unaffected as the financial implications of failure are much greater than the cost for
testing. This is a core driver to the services market.
The increasing number of Infrastructure projects in APAC and Latin America has greatly increased
the need for NDT. The government safety regulations combined with the environmental mandates
because of the increasing pollution levels have made NDT mandatory in these emerging countries.
They will be the markets with the highest growth in the equipment industry. The report segments
the market based on the industry and on the technology while providing a comprehensive insight
of all the geographies of the world.
The application of NDT in the Aerospace and Defense, Power Generation, Oil and Gas, Automotive
and Infrastructure industries has been explained with the key players in each industries and the
scope and forecasts for the equipments and Services Industries. With innovative technologies
coming into the picture for power production and the ageing oil refineries, Power generation and
Oil and Gas industries highest market share with a combined share of close to 47% and are
expected to grow at a rate of 7.3% globally.
The various technologies involved in NDT are Radiography Testing, Ultrasonic Testing, Magnetic
Particle Testing and Electromagnetic Testing, Liquid Penetrant Testing, Visual Testing, Acoustic
Emission Testing and Thermography Testing. Ultrasonic Testing and Radiography currently hold the
highest share in the market with Radiography with a growth of 8.5% is expected to overtake
Ultrasonic testing which is expected to grow at around 7%.
The main reason behind this is the increasing adoption of Digital Radiography in various
applications in the automotive and aerospace industries. The overall NDT services market is
expected to be $2.3 billion and is expected to grow at a CAGR of 9.5% and reach $4 Billion by the end