surface-examination-condition-monitoring-integrity-examination-technology-industrygeography-trends-forecast-2017-2022
Market Segmentation: The market for non-destructive testing solutions has been segmented by type( equipment and service), technique( volumetric examination, surface examination, condition monitoring, integrity examination, and others), technology( radiography testing, ultrasonic testing, magnetic particle testing and electromagnetic testing, liquid penetrant testing, visual inspection, acoustic emission testing, thermography testing, eddy current, and others) and industry( oil & gas, power & energy, construction, petrochemicals, automotive, aerospace & defense, and others). Rapid technological advancements and expanding end-user market has accelerated the demand for NDT solutions, globally. In 2015, ultrasonic testing held the largest market share of 32.5 %, followed closely by radiography testing. Ultrasonic testing and radiography testing in the technology segments are expected to witness a significant influx. However, penetrant testing and visual inspection are projected to exhibit slow growth over the forecast period.
Technological innovations in the area of power production and aging oil refineries have led to a combined share of about 47 % for the power generation and oil & gas industries. Adoption of advanced NDT solutions in the European and APAC region is going to drive the market growth. The NDT market is geographically segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
In 2015, North America held the lion ' s share of the global NDT market and is anticipated to dominate throughout the forecast period. Huge investments in the energy industry and increasing power generation operations, especially in the nuclear energy segment, are significantly driving the North American market. Growing number of infrastructure projects in Asia-Pacific and South America have provided impetus to NDT services and equipment market in the region. Increasing government safety regulations in this region, combined with the environmental mandates on account of increasing pollution levels has made NDT Services mandatory in these emerging countries. Hence, these regions are expected to witness the highest growth in the global market and are anticipated to grow at a CAGR 9.8 % over the forecast period.
Some of the vendors mentioned in the report include: 1. Bosello High Technology 2. FLIR Systems 3. Fujifilm Corporation 4. GE Measurement & Control
3