Non-Destructive Testing and Inspection Market Worth 12.06 Billion USD by 2023

Non-Destructive Testing and Inspection Market Worth 12.06 Billion USD by 2023

  PR Newswire

  PUNE, India, August 7, 2017

PUNE, India, August 7, 2017 /PRNewswire/ --

According to the new market research report "Non-Destructive Testing and
Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid
Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission), Method,
Service, Vertical, and Geography - Global Forecast to 2023" , published by
MarketsandMarkets™, the Non-Destructive Testing (NDT) Market is expected to be
worth USD 12.06 Billion by 2023, growing at a CAGR of 7.83% between 2017 and
2023. Factors that are driving the market growth include continuous
advancements in electronics, and automation and robotics, growing adoption of
IoT solutions, and need to prolong the lifespan and increase the capability of
aging assets.

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Browse   79 Market Data Tables and   45 Figures spread through   202 Pages and
in-depth TOC on   "Non-Destructive Testing and Inspection Market"

Early buyers will receive 10% customization o n this report

The ultrasonic testing technique to hold the largest share of the
non-destructive testing market  

Ultrasonic testing accounted for the largest market share in 2016. It is a
fast, reliable, and versatile technique of inspection which has helped expand
the boundaries of NDT inspection. It can detect internal and hidden
discontinuities such as lack of fusion, cracks, and lack of bond. The rapid
infrastructural development and aging infrastructure is fueling the growth of
the ultrasonic testing technique in NDT market.

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Market for the manufacturing vertical expected to grow at the highest rate
during 2017 - 2023  

The market for the manufacturing vertical is expected to grow rapidly between
2017 and 2023. This sector is expected to be driven by government policies and
safety awareness for non-destructive testing. Also, the increasing demand for
the manufacturing of aircraft, electronic equipment would raise the need for
NDT inspection.

North America expected to hold the largest market share during the forecast

North America has been a leading player in NDT market in 2016. The oil and gas
vertical accounted for the largest share of the market in North America. The
reason behind this growth is the increasing demand for NDT services for subsea
pipelines applications as they are used to inspect corrosion, cracking,
manufacturing flaws, welds, and deposits. The US held the largest share of the
North American NDT market in 2016.

General Electric Company (US), Olympus Corporation (Japan), Ashtead Technology
Ltd. (UK), MISTRAS Group Inc. (US), Nikon Corporation (Japan), Magnaflux
Corporation (US), Zetec Inc. (US), Sonatest Ltd. (UK), Sonotron NDT (Israel),
Bosello High Tech SRL ( Italy), Yxlon International GmbH (Germany), Fischer
Technology Inc. (US), and Eddyfi NDT Inc. (Canada) are the key players in the

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This research report categorizes the global non-destructive testing market on
the basis of technique, method, service, vertical, and geography. This report
describes the drivers, restraints, opportunities, and challenges for the
growth of the NDT market.

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