Based on method, the non-destructive testing market has been segmented into visual inspection, magnetic particle testing, liquid penetrant testing, ultrasonic testing, radiography, and eddy-current testing. The visual inspection segment is estimated to account for the largest share of the non-destructive testing market in 2016. The ultrasonic testing segment of this market is expected to grow at the highest CAGR from 2016 to 2022. Ultrasonic testing is used to measure the thickness of a wide range of metallic and non-metallic materials, and it is applicable in varied industries such as steel, manufacturing, aluminum construction, infrastructure, and power generation.
“ Non-destructive testing market in BRICS countries is projected to grow at the highest CAGR from 2016 to 2022”
The BRICS countries are expected to lead the non-destructive testing market during the forecast period. BRICS countries that include China, India, Russia, Brazil, and South Africa collaboratively account for a significant share of the global non-destructive testing market in 2016. Increased spending on infrastructure and aerospace & defense sectors, coupled with the growing focus towards generation of nuclear energy is driving the growth of the non-destructive testing market.
Break-up of profile of primary participants for the non-destructive testing market:
• By Company Type- Tier 1 – 55 %, Tier 2 – 20 %, and Tier 3 – 25 %
• By Designation – C level – 35 %, Director level – 25 %, and Others – 40 %
• By Region – North America – 45 %, Europe – 20 %, Asia-Pacific – 30 %, and RoW – 5 %
Key companies operating in the non-destructive testing market include Olympus Corporation( Japan), MISTRAS Group, Inc.( U. S.), Intertek Group Plc.( U. K.), SGS S. A.( Switzerland), GE Measurement and Control( U. S.), Nikon Metrology, Inc.( U. S.), Ashtead Technology, Inc.( U. S.), Sonatest Ltd.( U. K.), Bosello High Technology S. R. L.( Italy), and Fujifilm Holding Corporation( Japan).
Research Coverage: The report analyzes the non-destructive testing market on the basis of component, application, end user, method, and technique, and maps these segments and subsegments across G7 Nations, BRICS, and rest of the world. The report provides an in-depth market intelligence regarding the market dynamics and major factors that influence the growth of the non-destructive testing market( drivers, restraints, opportunities, and industry-specific challenges), along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the overall non-destructive testing market.
Reasons to Buy the Report: From an insight perspective, this research report has focused on various levels of analysis— industry analysis( industry trends,), market share analysis of top players, supply chain analysis, and company profiles, which comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments; high-growth regions and countries and their respective regulatory policies; government initiatives; and market drivers, restraints, opportunities, and challenges for the non-destructive testing market.