Non-Destructive Testing Equipment Market Segments and Forecast By End Fmi | Page 5

Report Description

Advancement in electronics, robotics, and automation and development of user-friendly software have made these equipment more appealing to end-users. Incorporation of Non-destructive testing equipment has shown to reduce maintenance and repair costs in the long run, fuelling their demand from end-use industries.

Global Non-destructive Testing Equipment Market: Restraints

Although Non-destructive testing equipment offers good ROI in the long run, high initial investment is a deterrent for many organisations. Lack of product knowledge and skilled manpower continue to be a challenge for the adoption of these machines.

Global Non-destructive Testing Equipment Market: Trends and Opportunities

There are significant opportunities for existing- and new- players to differentiate their offerings through product innovation and competitive price offerings. Resurgence in development of infrastructure after the recession of 2007-08 is expected to provide ample growth opportunities to manufacturers. For many construction projects, carrying out Non-destructive testing has become an integral part of the overall process, and this trend is only going to be stronger over the forecast period. Development of automatic and laser based testing equipment are also expected to create new avenues of growth for this market.