Significant aging of the existing organizational infrastructure along with growing costs associated with building new infrastructures has been driving the NDT service market trends

Ocean View, DE -- (SBWire) -- 05/26/2020 --Significant aging of the existing organizational infrastructure along with growing costs associated with building new infrastructures has been driving the NDT service market trends. Such key challenges which force utilizing the existing infrastructures has led organizations to search for new ways of maintaining and extending the infrastructure lifecycle. This is where the non-destructive testing comes into play, which assist in testing the potential flaws which can lead toward reducing the infrastructural life.

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Key Companies: - ALS Global, Applus+ Services SA, Bureau Veritas SA, Dekra SE, Eurofins Scientific SE, FPrimeC Solutions Inc., Intertek Group PLC, Mistras Group, Inc., NDT Corrosion Control Services Co. (NDTCCS), NDT Global GmbH & Co., Nikon Metrology Inc., NVI Nondestructive & Visual Inspection, PBS Velká Bíteš, A.S., SGS SA, TEAM Industrial Services Inc., Testia Gmbh, TUV Nord AG, TUV Rheinland AG, TUV SUD AG, Zetec Inc.,

The infrastructural operators and owners have to consistently follow stringent safety standards imposed by the governmental bodies. Any failure in doing so results in significant financial liabilities related to higher insurance premiums and scrutiny by regulatory bodies. This not only wipes off some percentage of the revenue, but also impacts the brand value. Increasing frequency of industrial accidents including fires and explosions have believed to be hampered reputation of several organizations.

Owing to the high cost related with the repair and maintenance of the aging out public and private establishments, there have been growing investments toward more advanced asset protection services to safeguard the structural integrity, which will further fuel NDT service market outlook over the forecast period. According to a research report by Global Market Insights, Inc., non-destructive testing (NDT) services market is projected to surpass USD 4.5 billion by 2025.

The radiography testing in NDT service market is anticipated to grow over 5% during the forecast period. The segmental growth is driven by increasing number of infrastructural developments coupled with the implementation of strict safety guidelines. In addition to this, the technology finds widespread utilization across the aerospace and automotive sectors in order to manufacture some extremely tolerant components those influence the prime functions of the products.

Considering services segment, the volumetric inspection services holds over 50% share in the global NDT service market, owing to the increasing adoption of advanced manufacturing practices across several business verticals. The growing use of lower grade raw materials in oil & gas industry is supposed to promote the adoption of volumetric inspection services over the forecast period.

The global NDT service market from aerospace applications is very likely to achieve a significant growth rate of over 6% through 2025, owing to the extensive use of these services to ensure the quality of aviation components throughout their operational lifecycle. Also, the benefits of lower cost and higher efficiency provided by NDT services tends to be economical owing to the high volume production of aerospace components.

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Europe NDT service market is projected to account for a majority of market share owing to the increasing presence of prominent players in the region. Europe enjoys the presence of some major players such as Intertek, Bureau Veritas and SGS which are undergoing several collaborations to adhere various regulatory standards imposed by the European union. The Europe NDT service market accounted for over 30% of the industry share.
Some Points From Table Of Content: -
Chapter 4. Competitive Landscape, 2018
4.1. Introduction
4.2. Company market share, 2018
4.3. Merger & acquisition landscape
4.4. Completive analysis of major NDT service market players, 2018
4.4.1. ALS
4.4.2. Applus
4.4.3. Bureau Veritas
4.4.4. Dekra
4.4.5. Intertek
4.4.6. Mistras
4.4.7. NDT Global
4.4.8. Nikon Metrology
4.4.9. SGS
4.5. Other prominnet vendors

Chapter 5. Global NDT Service Market, By Method
5.1. Key trends, by method
5.2. Volumetic inspection
5.2.1. Market estimates and forecast, 2014 – 2025
5.3. Surface inspection
5.3.1. Market estimates and forecast, 2014 – 2025
5.4. Visual inspection
5.4.1. Market estimates and forecast, 2013-2024

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