Companiesandmarkets.com

Global nondestructive testing equipment market: 8% CAGR between 2012-2016

Press release   •   May 01, 2013 14:49 BST

The Global Nondestructive Testing Equipment market is to grow at a CAGR of 7.82 percent over the period 2012-2016. One of the key factors contributing to this market growth is the rapid infrastructure development across the world. The Global Nondestructive Testing Equipment market has also been witnessing an increasing demand for nondestructive testing equipment from BRIC. However, the recent global economic slowdown could pose a challenge to the growth of this market.

One of the emerging trends in the Global Nondestructive Testing Equipment market is the miniaturization of testing equipment. Miniaturized equipment is flexible and easy to use. The fast growth in the various industrial segments is leading to the development of small size devices for which miniaturized testing equipment are required. For instance, the testing equipment used in automotive components and other minute components need to be very small in size. Thus the vendors are moving toward the trend of miniaturization.

One of the main drivers in this market is the rapid infrastructure development across the world leading to an increasing demand for nondestructive testing equipment.

The key vendors dominating this space are GE Inspection Technologies GmbH, Olympus NDT Inc., YXLON International Inc., and Magnaflux Corp.

For more information on the Global nondestructive testing equipment market, please click here: Global nondestructive testing equipment market

Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.