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Global NDT Market to Reach $11.39 Billion by 2022

MarketsandMarkets, June 9, 2016

According to the report "Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging), Service, Vertical, and Geography - Global Forecast to 2022," recently released by MarketsandMarkets, the global non-destructive testing (NDT) and inspection market is expected to grow from USD $6.46 billion (2015) to $11.39 billion by 2022. The report provides a description of each of the application areas of non-destructive testing. The market within this study has been classified on the basis of NDT technique into visual inspection testing, magnetic particle testing, liquid penetrant testing, eddy current testing, ultrasonic testing, radiography testing, acoustic emission testing, and terahertz imaging. The application in the oil & gas vertical is expected to hold the largest market share between 2016 and 2022, driven by regulatory mandates to ensure environmental and public safety by avoiding pipeline leakages, oil spills, and other accidents.

 

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