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New York, June 16, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announced the release of the report “NDT Equipment Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” —— https://www.reportlinker.com/p06095493/?utm_source=GNW
-Non-destructive testing methods are used for safety assessment and quality control purposes. Compared with applications, their use has a wide range of advantages, such as in aerospace (inspecting aircraft), automobiles, maintenance quality assurance, etc. This method is based on the same principles as medical radiography in hospitals. It is widely used in chemical, petrochemical and construction industries for radiographic inspection of pipelines, boilers and structures. It is used to check metal welding, vehicle parts, aircraft parts, and to check hand luggage and carry-on hand luggage at the airport.
-Maintenance optimization requirements for efficient operation and quality/safety assurance have further promoted the adoption of NDT test equipment. In addition, factors such as safety, increased service intervals, reduced tolerance for interruptions, small emission targets, and innovative materials have further promoted the growing demand for non-destructive testing technology in the aerospace and defense fields.
-But with the Covid-19 pandemic, the growing demand for the non-destructive testing equipment market is declining, as end-user industries such as automobiles, oil and gas, and construction are affected by lockdowns and other social distancing regulations. According to the Statistics and Planning Institute of India (MOSPI), the impact of Covid-19 on the total value added of the construction, manufacturing and mining industries accounted for -13.3%, -6.3% and -14.7% respectively. Therefore, the decline in growth in these industries has decreased The demand for non-destructive testing activities has in turn affected the market growth.
-Among the technologies used in non-destructive testing equipment, the field of ultrasonic and radiographic testing is witnessing a high degree of innovation, aiming to fill the gaps in existing market products. However, ultrasonic detectors have greatly promoted the demand for ultrasonic testing equipment, and Olympus NDT and GE measurement and control systems have played a key role in providing these advanced solutions.
-The equipment market is dominated by existing companies in the market with more funds for R&D and expansion. The high entry barriers and high acquisition costs of new participants are expected to affect the long-term profitability of the market. Cost remains the main obstacle in this market, as inspection service providers focus on expanding their base rather than adopting new practices. It is expected that high replacement costs will hinder the long-term growth of the studied market.
Main market trends
Strong growth in the power and energy generation industry
-The NDT equipment market has witnessed an increase in demand from the power generation industry, as most of these factories are aging and are designed and built using standards, materials and components to meet the prevailing industrial practices at the time of construction. Exposure to operating and environmental conditions may cause unforeseen damage. NDT is used to check for any such defects and help resolve issues before they escalate.
-The main application scope of NDT in the energy and power industries is to help ensure the safety, integrity and reliability of plant equipment (such as pressure vessels, boilers, heat exchangers, pipes and piping). The inspection of the concrete structure is part of the life assessment of the factory, because these materials usually constitute an important part of the construction of such factory equipment.
-North America has always been the flag bearer of the non-destructive testing equipment market in the field of power generation, and there are still opportunities for advanced non-destructive testing applications. Recently, the Asia-Pacific region has experienced a huge boom in power demand, mainly from China, India, Japan, and South Korea. This transformation has created important market opportunities for companies that provide equipment and services in the NDT power generation market. Due to the emerging environmentally friendly natural gas power plants, the demand for non-destructive testing equipment in the Asia-Pacific region is expected to be higher.
-Development of the utilization and adaptability of digital imaging technology increases the cost-effectiveness of advanced non-destructive testing equipment methods. The new non-destructive testing equipment technology can also achieve continuous data collection, storage, online inspection, advanced real-time data simulation and information interpretation capabilities.These technologies are creating greater market opportunities
-In addition, due to the continuous development of traditional non-destructive testing technologies, the market has become more and more accepted and applied in the power generation industry. These technologies and the increased degree of assimilation of technologies have made many non-destructive testing methods cost-effective, enabling end users to reduce some of the operating and maintenance costs.
The Asia-Pacific region is expected to experience significant growth.
-Currently, China is the world’s largest electricity producer. The country’s energy demand is expected to increase, thereby driving the growth of energy production. Non-destructive testing applications in the field of fossil fuels dominate the market. In addition, the number of aging infrastructure in the country is also increasing, which makes it essential to use non-destructive testing equipment to identify and ensure the integrity of these structures. Therefore, the country’s non-destructive testing services are expected to grow rapidly during the forecast period.
-India has the world’s fifth largest power generation capacity. In terms of electricity production, the country ranks third in the world. As of March 2021, the installed capacity of India’s National Grid is 382.15 GW. This means that the current demand for non-destructive testing equipment is dominated by the fossil fuel industry, and non-destructive testing equipment based on nuclear energy is slowly gaining momentum.
-With the surge in consumption in the Indian aviation sector, the industrial consumption of non-destructive testing equipment is expected to increase substantially during the forecast period, supported by income growth and increased affordability. India is one of the fastest growing non-destructive testing (NDT) markets in the global market. The Indian non-destructive testing equipment market is currently ranked as the fourth largest market in the Asia-Pacific region, and its size is expected to double during the forecast period.
-In South Korea, Measurement Technology Corporation, a leading distributor of smart technologies in the construction industry, adopted new measurement technologies related to construction and data processing, and used Giatec products to provide high-quality products to customers in the country. Giatec and MTEC Co. provide non-destructive testing equipment for concrete construction.
-In Australia, non-residential construction activity is expected to remain sluggish, reflecting continued weakness in construction start approvals in major commercial real estate markets. One of the most popular non-destructive testing equipment methods is ultrasonic testing in this end-user vertical.
Competitive landscape
The non-destructive testing (NDT) equipment market is inherently competitive and consists of several major players. The market share of non-destructive testing equipment of the top five companies exceeds 50%, and the market concentration is moderate. The needs of end users are driven by safety and regulatory requirements. Companies operating in the market are using strategic collaboration plans to provide professional solutions to increase their market share and increase their profitability. Companies operating in the market also participate in mergers and acquisitions to help improve the portfolio of markets they serve.
-May 2021-Nikon enhanced Metrology’s industrial microfocus X-ray CT inspection solution with a new offset CT reconstruction algorithm to provide unparalleled scanning speed and image resolution. The use of X-ray CT for non-destructive quality control of large components (such as aluminum castings or electric vehicle battery modules) will shorten the inspection cycle time without affecting the resolution. A prerequisite for achieving this goal is high X-ray intensity or flux.
-February 2021-Controle Mesure Systemes has developed a software called Probus. It collects information provided by non-destructive testing equipment to display signals, analyze signals, make classification decisions, and create inspection reports. Probus is the decision center of the non-destructive testing line. It centralizes all sensor data and can control the actuators of the test bench. The main purpose of Probus software is to ensure traceability by creating individual product or batch inspection reports. They can list the detected defects and their locations as proof of control.
-January 2021-The company launched its innovative DP series cameras, which have a set of smart functions and precise color accuracy to simplify imaging in industrial microscopes. The DP28 camera provides 4K resolution to provide high-resolution images without artifacts, while the DP23 camera’s full HD resolution is balanced with convenient functions to provide excellent value for almost all industrial imaging applications.
-September 2020-YXLON International launched VGSTUDIO MAX 3.4, which is the latest version of the industrial CT data analysis and visualization software from Volume Graphics GmbH. YXLON International’s Computed Tomography (CT) system is directly compatible with VGSTUDIO MAX 3.4. It also plans to provide new visualization options for geometric tolerance deviation and subvoxel precise defect detection.
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