Global Non-Destructive Testing Inspection Services Market, Forecast to 2022
LONDON, Oct. 24, 2018 /PRNewswire/ --
Oil & Gas Market Recovery and Online Monitoring Technologies Drive Growth
The non-destructive testing (NDT) inspection services market rebounded in 2017 after two years of negative growth.It is expected to transform over the next five years with the advent of new technologies, changing customer requirements regarding connectivity and analytics features, and novel business models.
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The market was worth $8.79 billion in 2017, and is expected to reach $10.71 billion by 2022 at a CAGR of 4.0%.The recovery of oil & gas prices, stricter government regulations for testing, and technology advancements such as data analytics have prompted service providers to alter their roadmaps. This study identifies key growth opportunities while detailing the challenges and possible threats. The forecast period is from 2018 to 2022, with 2017 as the base year.
Research Scope
The current market size for 2017 and forecasts till 2022 is provided for each of the following segments:
Technology Segments:
• Ultrasonic
• Radiography
• Electromagnetic
• Visual Inspection
• Penetrant Test
End-user Verticals:
• Oil & Gas
• Power Generation
• Aerospace
• Automotive
• Railways
• Manufacturing & Process Industries
• Others (Ship-building, Construction, and Infrastructure)
Geography Regions:
• North America
• Europe
• Asia Pacific
• Rest of World - Includes Latin America, Middle East, and Africa
Key Issues Addressed
• Is the NDT inspection services market growing, how long will it continue to grow for, and at what rate?
• What are the key growth drivers and restraints for the market? Are there any potential future challenges that could restrict the growth of this market?
• Who are the leading participants and what are their market shares? How has the oil price drops affected the NDT inspection services market and what does the future look like?
• Which regions are expected to have the highest growth potential? Can North America maintain its position as a key revenue contributor in the face of rising global competition?
• What is the impact of convergence technologies such as connectivity and predictive analytics? How do these influence innovative business models?
• Which applications and industries will drive the demand for the NDT inspection services market? Will the traditional end-user segments continue to be the largest revenue generators?
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