Asia Pacific Non-Destructive Testing Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Non-Destructive Testing (NDT) is a non-invasive technique to measure properties of a system, material without creating any damages. Properties of materials such as surface or internal flaws, metallurgical conditions and other are Measured. There are some NDT methods which depend on electromagnetic radiation, sound, inherent properties of materials and other to detect the flaws and damages in materials. Increase in the importance of the safety of the products and systems during operation, to decrease the labour and energy many key players are following NDT Techniques.
Asia Pacific Non-Destructive Testing Market Size & Growth:
Non-Destructive Testing Market size is projected to reach approximately $10.50 billion by the end of 2024 with a CAGR of close to 8.28% from $6.52 billion in 2017 during the forecast timeline 2018-2024. The major factors that propel the growth of the Non-Destructive Testing Market are raising the usage of NDT techniques in industries for safety and reliability of the product during operating process. This not only develops the safety and reliability. It also safeguards from any sudden shut down of machines and power plants. It also reduces the labour and energy and also decreases the cost of the machines by reducing scrap and unwanted materials. All the above factors accelerate the Non- Destructive Testing (NDT) Market.
Asia Pacific Non-Destructive Testing Market Share:
Asia Pacific Non-Destructive Testing Market is segmented on the basis of technology which consists of Ultrasonic Testing, Radiography Testing, Liquid Penetrant Testing, Magnetic Particle Testing and Electromagnetic Testing, Visual Inspection, Acoustic Emission Testing, Eddy Current, Thermography Testing. Among these testing’s Radiography, Testing and Ultrasonic Testing are having a
Asia Pacific Non-Destructive Testing Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
decent market share. Ultrasonic Testing uses Ultrasonic pulse which are high-frequency waves to identify flaws, defects, and imperfections in metal components. One of the important testing done by Ultrasonic testing is to identify the corrosion in pipelines and other closed structures. Ultrasonic testing also detects the flaws and cracks which are deep in the materials or systems. Ultrasonic testing requires high skilled trainers as it affects the material surface if disturbances occur while testing. In Radiographic Testing X-rays, radioactive isotopes are used which observes or identifies the faults of the components inside any system or machine. In this testing radioactive signal is sent through the component and measuring the signal on the other side gives the faults or imperfections in the component. Radiographic testing is difficult to perform on the irregular surfaces since those irregularities affect the thickness of the material evaluated. These are the factors lead to the growth of the NDT Market. However, Liquid Penetrant Testing, Visual Inspection is also testing technologies which are slowly developing also holds a considerable share. On the basis of Technique, the market is segmented into Surface Examination, Volumetric Examination, Condition Monitoring, Integrity Examination. Among these Volumetric examinations is having the highest market and is expected to be the same during the forecast period. Volumetric Examination consists of ultrasonic and radiographic technologies. In Volumetric Examination the internal faults, defects inside materials can be observed by sending ultrasonic waves, radioactive isotopes and other. NDT is used in various end-user industries such as Aerospace & Defense, Oil & Gas, Power & Energy, Construction, Petrochemicals
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Asia Pacific Non-Destructive Testing Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
and other. On the basis of Geography, Asia Pacific is expected to hold the highest market due to the number of infrastructure projects, increase in government safety regulations are the factors accelerate the growth of the market.
Asia Pacific Non-Destructive Testing Market Trends:
- MISTRAS Group announces its acquisition of Non-Destructive Testing, LLC.
- YXLON International GmbH released YXLON FF35 CT High-Resolution Industrial CT System for Small/Medium Size Parts Inspection
Asia Pacific Non-Destructive Testing Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The major key players in the Asia Pacific Non-Destructive Testing Market are:
- Bosello High Technology
- Mistras Group, Inc.
- FLIR Systems
- Fujifilm Corporation
- GE Measurement & Control
Along with these companies, there were many other companies considered/cited in the report while analysing the Asia Pacific Non-Destructive Testing Market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
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