Nondestructive Testing Market worth $1720.96 Million by 2020, According to A New Study on ASDReports

Wednesday 28 May 2014, Amsterdam

According to a new market research report of "Nondestructive Testing Market by Technology (Visual, Magnetic Particle, Electromagnetic, Liquid Penetrant, Radiography, Ultrasonic)& Application (Aerospace, Defense, Automotive, Oil & Gas, Infrastructure, Power Generation) - Global Trends & Forecasts to 2014 - 2020" now available on ASDReports, is estimated to grow at a CAGR of 3.5% to reach $1720.96 Million by 2020

Nondestructive testing is testing of objects for their flaws and imperfections in accordance with some standard norms. The stringent government safety regulations in the aerospace and defense industry and commercial industry will drive the growth of NDT market. Rapid infrastructural development in developed as well as developing economies has fuelled in the growth of the NDT market.

The U.S. and Europe are the major revenue generating regions for NDT; these players have technical expertise .Latin America and Asia-Pacific are the emerging markets for NDT. Brazil, India, and China are the countries, which have immense growth potential for NDT. APAC will be the leading market for nondestructive testing, due to the high growth in sectors like infrastructure, power generation, and aerospace in countries like India and China.

This report provides the NDT market segmentation on the basis of application, technology, end user, and geography. The report explains the drivers, restraints and challenges in the NDT market. The NDT market is witnessing a spree of mergers, partnerships, and acquisitions among market players, which has resulted in a wide range of challenges and opportunities It provides information on the regional, end user ,technology, and consolidation trends in the NDT market.

This report provides a complete analysis of the global NDT market for the next six years. The report provides a complete revenue forecast and analysis for North America, Latin America, Europe, Asia-Pacific, and Middle East. The competitive landscape provides information about the major players in the NDT market and their market share in the NDT market for 2013. The report also provides overviews of the leading companies in the NDT market on the basis of their financial position, markets, and key developments. The major companies involved in global nondestructive testing industry are Mistras (U.S.), Olympus Corporation (Japan), Intertek Plc. (U.K), SGS S.A (Switzerland), G.E. Measurement and Control (Massachusetts).