Global Non Destructive Testing (NDT) equipment market size is expected to attain USD 5.70 billion by 2022

Non Destructive Testing (NDT) Equipment Market Analysis By Technology (Ultrasonic Testing (UT), Radiography Testing (RT), Electromagnetic Testing (ET), Visual Testing (VT), Others), By End-Use (Power Generation, Oil and Gas, Aerospace and Defense, Automotive, Others), Competitive Analysis & Forecasts To 2022

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Global Non Destructive Testing (NDT) equipment market size is expected to attain USD 5.70 billion by 2022, growing at a CAGR of over 5% from 2015 to 2022. Application of this equipment for quality control as well as inspection is likely to witness significant growth. Stringent government regulations for safety and quality control are projected to fuel industry demand. Government is taking counter measures in order to prevent accidents such as pipeline explosions and nuclear reactor leakages.

The aim of NDT is to ensure safety as well as reliability, it aids in detecting errors as well as troubleshoot the defects in any equipment, to avoid unpleasant incidents. It also acts as a method of prevention in high-pressure manufacturing units. This equipment is projected to be reliable as it helps in eliminating factual errors. Thus; the aforementioned properties are estimated to boost the non destructive testing equipment market demand.

Increasing cost and efforts involved in construction of infrastructure is expected to elevate the industry demand. It helps in improving longetivity of the facility as well as machinery, thus increases operational life. For instance, oil refineries in Middle East region are now enhancing their capacities in order to tackle global demand. Operating refineries at optimum capacity may cause any breakdown. Thus, in order to preserve these machines it is mandatory to inspect them for any defects and ensure smooth functioning.

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Lack of skilled workforce for testing equipment is likely to hamper the industry growth. Training institutes are not equipped with updated equipment, which might pose as a challenge to the industry growth. However, innovation paired with advancements in NDT technologies such as phased array ultrasound and eddy current array are likely to act as potential avenues for tremendous industry opportunities. These technologies offer more precise and reliable data and thus help in generating accurately assessed reports.