Thumbnail

Europe NDT Equipment Market - Growth Trends and Forecasts (2020 - 2025)

Looking to buy the report?

The Europe NDT equipment market has been estimated at USD XX billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of 5.7% during the forecast period from 2015 to 2020. Nondestructive evaluation includes the inspection of process, testing, or evaluating materials, components or assemblies for discontinuities, or differences in characteristics without destroying the serviceability of the part or system. These destructive tests are often used to determine the physical properties of materials such as impact resistance, ductility, yield and ultimate tensile strength, fracture toughness and fatigue strength, but discontinuities and differences in material characteristics are more effectively found by NDT. The six most frequently used test methods are Magnetic Particle Testing, Liquid Penetrant Testing, Radiographic Testing, Ultrasonic Testing, Electromagnetic Testing and Visual Testing. Each of these test methods will be described here, followed by the other, less often used test methods.

These nondestructive test equipment offer solutions to industry which are to be used manufacturing, fabrication and in-service inspections to ensure product integrity and reliability. NDT equipment are also used in construction, to ensure the quality of materials and joining processes during the fabrication and erection phases, and in-service NDT inspections are used to ensure that the products in use continue to have the integrity necessary to ensure their usefulness and the safety of the public.

This market is driven by a number of factors, such as Industrial standardization, Increasing safety regulations, Rapid prototyping and manufacture of complex geometries. However, this market faces certain drawbacks, such testing equipment being very expensive, and lack of qualified and skilled workforce, requirement of customization of NDT equipment. These factors may act as a roadblock to the growth of the market. A plunge in Aerospace industry can be seen as an opportunity where the industry has to adapt to NDT inspection techniques.

This NDT equipment market can be broadly segmented by technology into NDT contact methods and NDT non- contact methods. And these two categories are further sub divided based on the inspection method. The market is also segmented based on the equipment’s usage namely, Mechanics of structures, Weld verification, Radiography in medicine. This technology has applications in Power generation, oil & gas, aerospace and defense, automotive, Medical, Marine. Market study indicates that Aerospace & defense and nuclear segment accounts for the largest share in this market. This is due to the high standardization requirements of these industries.

The market has also been geographically segmented into, Austria, France, Germany, Greece, Italy, Norway, Romania, Spain, Sweden, Switzerland and Turkey with UK occupying the largest consumer base in the world with Germany and France following the list in the same order. These areas being industrialized heavily have led this region an area of immense potential and opportunities. However, the price sensitivity in this region has considerably hindered the growth of this market.

The market has more relevance today since trends show that the industry is in a need to adapt to more safely and reliability approaches. The major companies dominating this market for its products, services, and continuous product developments are Advanced NDT limited, Bosello HT , Foerster, GE measurement & control, James Instruments, Karl Storz, NDT Equipment Supplies Limited, Sonatest. The current trends in mergers and acquisitions indicate that the smaller companies are acquiring the bigger ones for higher innovations by utilizing their core competencies. The Non- destructive technology offers a huge potential of change in enhancing safety of many manufactured goods all over the world.

Key Deliverables in the Study

  • Market analysis for the Europe Non- Destructive testing equipment Market, with region specific assessments and competition analysis on global and regional scales
  • Market definition along with the identification of key drivers and restraints
  • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
  • Extensively researched competitive landscape section with profiles of major companies along with their market shares
  • Identification and analysis of the macro and micro factors that affect the Europe Non- Destructive testing equipment market on both global and regional scales
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
  • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
  • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Our clients include:

prev-arrow
next-arrow

Looking to Customize Report?

Please Enter Email ID

Please Enter Message