Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Advanced Composites
LeftNav
Aerospace
LeftNav
Amorphous Metal Structures
LeftNav
Analysis and Simulation
LeftNav
Asbestos and Substitutes
LeftNav
Associations, Research Organisations and Universities
LeftNav
Automation Equipment
LeftNav
Automotive
LeftNav
Biomaterials
LeftNav
Building Materials
LeftNav
Bulk Handling and Storage
LeftNav
CFCs and Substitutes
LeftNav
Company
LeftNav
Components
LeftNav
Consultancy
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
Pro Engineering Zone
 
 
 
News

Asia-Pacific to drive growth in the non-destructive testing equipment market

Companiesandmarkets : 27 August, 2013  (Special Report)
The non-destructive testing equipment market is forecast to reach a value of US$1.9 billion by 2018, driven by technological developments, stringent product usage specifications and strong government safety regulations.
Non-destructive testing - a wide group of analysis techniques used to evaluate properties of components, systems and materials without altering the original properties - are gaining popularity due to their time and cost saving benefits over other material testing technologies.
 
The non-destructive testing (NDT) equipment industry represents huge growth potential in the future as it is one of the less impacted industries at times of financial crisis. The demand for NDT equipments used in inspections and quality checks observed an upward growth and is expected to grow at a significant rate due to the increasing importance for quality control among industry players across various verticals.
 
NDT testing methods include ultrasonic, remote visual inspection (RVI), liquid penetrant, magnetic-particle, eddy-current testing, low coherence interferometry and radiographics. NDT is comprehensively used in mechanical, forensic, electrical, systems, civil, and aeronautical engineering as well as art and medicine.
 
The trend towards retention of legacy equipment and structural assets as an austerity measure among industries also gives opportunity for growth in the NDT equipment market. NDT equipment is increasingly being used to monitor operational feasibility and ensure safe extended use of aging and legacy plant assets.
 
Developments in nanomaterials and advanced components and use of the same for manufacturing a range of structural equipment is also creating need for NDT equipment that can perform inspection of such material and structures.
 
According to a recent market report, Nondestructive Test Equipment: A Global Strategic Business Report, Asia-Pacific represents the largest as well as the fastest growing market with a compound annual growth rate (CAGR) of 9.9% predicted through 2018. Demand in the region is led by establishment of power and transportation infrastructure and rapid growth in automotive production bases in China and India.
 
 
 
Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 NewMaterials.com
Netgains Logo