NDT Services Market Expected to reach 8.55 Billion USD by 2022

NDT Services Market by Testing Technique (Ultrasonic, Radiographic, Eddy Current, Magnetic particle, Acoustic Emission, Terahertz Imaging), Type (Inspection, Renting, Training, Calibration), Vertical, & Geography
By: Marketsandmarkets
NORTHBROOK, Ill. - Feb. 12, 2019 - PRLog -- According to the new market research report "NDT Services Market by Testing Technique (Ultrasonic, Radiographic, Eddy Current, Magnetic particle, Acoustic Emission, Terahertz Imaging), Type (Inspection, Renting, Training, Calibration), Vertical, & Geography - Global Forecast to 2022", the NDT services market is expected to reach USD 8.55 Billion by 2022, at a CAGR of 8.52% between 2016 and 2022. The major factors driving this market include the outsourcing of NDT services to third party service providers and aging infrastructure and increasing need for maintenance.

Ultrasonic testing technique to hold the largest share in the NDT services market

The ultrasonic testing (UT) is expected to occupy the leading market share between 2016 and 2022. It uses high-frequency sound energy to examine and measure defects. UT can be deployed to inspect objects that are not easily accessible for inspection through direct contact, for example, for inspecting piping system buried under the earth surface. Some of the advanced technologies under UT such as immersion testing and guided-wave ultrasonic can be used for critical applications in sectors such as oil & gas and aerospace. This has enabled UT to be used as a substitute for other NDT techniques as well, making it the largest technique for NDT inspection.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=207570323

The market for the manufacturing vertical is expected to grow at the highest growth rate

The NDT services in the manufacturing vertical are expected to grow at the highest CAGR during the forecast period. This vertical is receiving a boost from the emerging markets such as China, India, and South Africa. The various government initiatives such as "Make in India", "Industry 4.0" in Europe, and "National infrastructure plan" in South Africa are designed to increase the manufacturing output from the respective regions.

North America is expected to hold the largest share in this market during the forecast period

North America has been a leading region in this market. UT technique accounted for the most used technique in this region. Construction and manufacturing activities in North America have driven the NDT services market in this region. Also, the rapid growth of transportation, power transmission and supply, oil & gas, and aerospace and defense vertical, and so on is driving the growth of this market. For instance, upcoming power plant construction projects such as coal power plant in California, Kanas, Missouri, and Texas are an opportunity for NDT services in the power generation market. The U.S. held the largest market share in the NDT services market in 2015 and is expected to be the leading player in North America.

Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=207570323

The key players in the market include GE Oil & Gas Digital Solutions (U.S.), Ashtead Technology (U.K.), Mistras Group Inc. (U.S.), Zetec Inc. (U.S.), Intertek Group (U.K.), Yxlon international GMBH (Germany), and TUV Rheinland AG (Germany) among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Tags:NDT Services Market
Location:Northbrook - Illinois - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Research Reports PRs
Trending News
Most Viewed
Top Daily News

Like PRLog?
Click to Share