Global Non-Destructive Testing Equipment Market Research Report 2020: COVID-19 Outbreak Impact Analysis
Brand Essence Market Research has developed a concise study on the Non-Destructive Testing Equipment market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
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Non-Destructive Testing Equipment Market is Valued at USD 2.48 Billion in 2018 and Expected to Reach USD 4.07 Billion by 2026 with a CAGR of 7.3% Over the Forecast Period. Increasing safety regulation and industry standards are the key growth factors driving the Global Non-Destructive Testing Equipment Market.
Non-destructive testing (NDT) is analysis technique used by engineers to detect defects in materials and structures, either during manufacturing or while in service without harming the object. Non-destructive testing (NDT) is done by several methods like visual inspection, ultrasonic, dye penetrant, acoustic emission, electromagnetic, radiography and magnetic particle. For non-destructive testing of materials and structures testing equipment are needed. Non-destructive testing equipment are made up for quality control of materials and structures, while they are used to detect the defects caused by stress, wear, fatigue, corrosion and other factors, which are used in manufacturing, fabrication and service industries.
Non-destructive testing equipment market is segmented on the basis of technology, end-use industry and region & country level. On the basis of technology, it is divided into ultrasonic testing, magnetic particle testing, radiography testing, electromagnetic testing, visual testing and others. By end-use industry, the non-destructive testing equipment market is classified into oil & gas, power generation, automotive, aerospace and defense, manufacturing and others.
The regions covered in this Non-Destructive Testing Equipment Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of non-destructive testing equipment market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Non-Destructive Testing Equipment Market Report: Global Non-Destructive Testing Equipment Market report covers prominent players like Mistras Group, SGS Group, Olympus Corporation, Bureau Veritas S.A., GE Inspection Technologies, YXLON International, Nikon Metrology, Eddyfi, Sonatest Ltd., Magnaflux Corporation, Zetec Inc. and others.
Stringent Government Regulations Regarding the Safety and Industries Standard are the key Growth Factors Driving the Global Non-Destructive Testing Equipment Market.: Industries are focusing on improvement of quality of product and non defective products and for that non destructive testing are required and foster the market growth. Non-destructive testing equipment are also help to reduce maintenance and repair costs of equipment for the long which is also supplementing the market growth. In addition, technological advancement in robotics, electronics and automation & development of user-friendly software has made this equipment more attractive. However, the lack of skilled work force for non destructive test may hamper the growth of NDT testing equipment market. In house training of freshers is not effective as much as on field training.
Moreover, increasing number of training institutes and certification boards in the developing countries are expected to reduce lack of skilled work forcein the near forecast period. Technological development of laser and automatic based testing equipment are also expected to create new growth opportunities for non-destructive testing equipment market in the forecast period.
North America is Expected to Dominate the Global Non-Destructive Testing Equipment Market: North America is expected to capture the largest market share of global non-destructive testing equipment market within the forecast period. Increasing investments in the oil and gas sector is anticipated to encourage the growth of the North America market within the forecast period. Europe is expected to gain the second largest share of global non-destructive testing equipment market due to industries standards and regulations regarding the safety and quality of product are increasing in this region. Increasing modernization of power generation, oil and gas sectors and automotive industry in the European region are further expected to accelerate the growth of non-destructive equipment market throughout the forecast period.
Global Non-Destructive Testing Equipment Market Segmentation:
â€¢Magnetic Particle Testing
By End-Use Industry:
â€¢Oil & Gas
â€¢Aerospace and Defense
This comprehensive report will provide:
â€¢ Enhance your strategic decision making
â€¢ Assist with your research, presentations and business plans
â€¢ Show which emerging market opportunities to focus on
â€¢ Increase your industry knowledge
â€¢ Keep you up-to-date with crucial market developments
â€¢ Allow you to develop informed growth strategies
â€¢ Build your technical insight
â€¢ Illustrate trends to exploit
â€¢ Strengthen your analysis of competitors
â€¢ Provide risk analysis, helping you avoid the pitfalls other companies could make
â€¢ Ultimately, help you to maximize profitability for your company.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
â€¢ Which are the driving factors responsible for the growth of market?
â€¢ Which are the roadblock factors of this market?
â€¢ What are the new opportunities, by which market will grow in coming years?
â€¢ What are the trends of this market?
â€¢ Which are main factors responsible for new product launch?
â€¢ How big is the global & regional market in terms of revenue, sales and production?
â€¢ How far will the market grow in forecast period in terms of revenue, sales and production?
â€¢ Which region is dominating the global market and what are the market shares of each region in the overall market in 2017?
â€¢ How will each segment grow over the forecast period and how much revenue will these segment account for in 2026?
â€¢ Which region has more opportunities?
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The Essential Content Covered in the Global Non-Destructive Testing Equipment Market Report:
* Top Key Company Profiles.
* Main Business and Rival Information
* SWOT Analysis and PESTEL Analysis
* Production, Sales, Revenue, Price and Gross Margin
* Market Share and Size
The report provides a 6-year forecast (2020-2026) assessed based on how the Non-Destructive Testing Equipment market is predicted to grow in major regions like USA, Europe, Japan, China, India, Southeast Asia, South America, South Africa, Others.
Strategic Points Covered in TOC:
Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Non-Destructive Testing Equipment market.
Chapter 2: Evaluating the leading manufacturers of the global Non-Destructive Testing Equipment market which consists of its revenue, sales, and price of the products.
Chapter 3: the competitive nature among key manufacturers, with market share, revenue, and sales.
Chapter 4: Presenting global Non-Destructive Testing Equipment market by regions, market share and revenue and sales for the projected period.
Chapters 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
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