Industrial RT for Non-Destructive Testing Market to Reach $1,088 Million, Globally, by 2022

WILMINGTON, DELAWARE, UNITED STATES, August 22, 2024 /EINPresswire.com/ — Owing to the technological shift from traditional inspection systems to advanced systems, various industries are replacing traditional inspection systems with automated devices. In addition, an increase in demand for high-accuracy and durable inspection devices is fueling the market growth. Also, these inspection systems find maximum use in aerospace & defense and oil & gas applications. Allied Market Research, titled, Global Industrial RT for Non-Destructive Testing Market by Component and Application: Opportunity Analysis and Industry Forecast, 2014-2022, the Industrial RT for non-destructive testing market size was valued at $491 million in 2014, and is projected to reach at $1,088 million by 2022, growing at a CAGR of 10.1% from 2016 to 2022.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/4551

RT system is used for testing materials for defects to avoid equipment failure. These systems are used to maximize the efficiency of a product. Radiographic testing is conducted under stringent settings to avoid mishaps, without contaminating the tested products. It acts as a preventative measure in industries utilizing volatile or high-pressure equipment and machinery. In addition, RT systems ensure the reliability of equipment by eliminating the risk of oversight or inaccuracy. Thus, the impact of this factor is high and is expected to maintain its effects on the market growth during the forecast period.

The aerospace & defense and oil & gas sectors constituted the largest market share in 2015, owing to the presence of large shale oil & gas reserves in countries such as the U.S., the UK, Germany, China, France, and Italy. The surge in operations in the aerospace & defense sector, particularly in the testing sector of the U.S. drives the RT system market, as NDT inspection plays a vital role in the functioning of aircraft, satellites, and others. Presently, the portable NDT segment holds the largest market share, as the adoption of computed tomography is expected to increase over the next five years due to enhanced accuracy and efficiency.

North America is projected to hold the largest market size in the global industrial RT for the NDT market. The Asia-Pacific market is in its growth phase, owing to an increase in infrastructure projects and power plants.

In 2014, Portable NDT accounted for 34%, owing to its ability to detect internal and hidden defect/discontinuity along with its high penetrating power and accuracy. However, the computed tomography system segment is anticipated to witness significant growth in the coming years, owing to its high accuracy and efficiency. The inspection and testing segment held the largest market share of 52% in 2014 and is expected to grow at a CAGR of 9.9% during the forecast period. In 2015, the aerospace & defense sector contributed a significant revenue share of over 13.5% in the overall market.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/4551

𝐓𝐨𝐩 𝐈𝐦𝐩𝐚𝐜𝐭𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫𝐬

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐍𝐃𝐓 𝐢𝐧 𝐎𝐢𝐥 & 𝐆𝐚𝐬 𝐚𝐧𝐝 𝐍𝐮𝐜𝐥𝐞𝐚𝐫 𝐏𝐨𝐰𝐞𝐫 𝐒𝐞𝐜𝐭𝐨𝐫𝐬
The increase in the number of oil & gas and power generation projects, particularly in the nuclear energy sector in the U.S., has significantly increased the adoption of RT systems for non-destructive testing, as it plays a vital role in the efficient functioning of these industries. Non-destructive testing equipment is used in oil and gas operations of critical assets such as tanks, vessels, heat exchangers & condensers, piping, and rotating equipment to identify potential damage. In addition, an increase in the number of failures in oil & gas equipment and tools, especially pipes, fuels the need for non-destructive testing equipment in this industry. Moreover, RT systems are used in nuclear power plants for safe and complete testing of critical parts of nuclear power plants without modification of the plant.

𝐒𝐭𝐫𝐢𝐧𝐠𝐞𝐧𝐭 𝐒𝐚𝐟𝐞𝐭𝐲 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬
Stringent product usage specifications, quality control requirements, and government safety regulations drive the market. Governments of various countries have taken initiatives to avoid mishaps in the past resulting from leakage in nuclear reactors, pipeline explosions, and refinery blasts. The U.S. Government has mandated non-destructive testing equipment manufacturers to periodically engage in inspection activities. In addition, The European Committee for Standardization (CEN) is the recognized European organization for planning, drafting, and implementing European Standards across all areas of economic activity except electro-technology and telecommunication. Therefore, the impact of this factor is expected to be high shortly.

𝐋𝐚𝐜𝐤 𝐨𝐟 𝐒𝐤𝐢𝐥𝐥𝐞𝐝 𝐚𝐧𝐝 𝐐𝐮𝐚𝐥𝐢𝐟𝐢𝐞𝐝 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥𝐬
The lack of skilled technicians is a major restraint for the adoption of the RT system in the NDT market. Technicians required for the inspection process are certified but do not possess the essential skills to perform the inspection with satisfactory levels of quality. In addition, most training institutes are not updated with the latest systems, and technicians are trained on outdated products that have become obsolete. This is a major hindrance to the growth of the RT system market, as it restricts the adoption of advanced products and technologies. Non-destructive testing system manufacturers have tapped into this opportunity, and have set up their training centers or academies. For instance, system manufacturers, such as Olympus, Carestream, and GE Measurement and Control Solutions have established training centers to train people on using all types of equipment. An increase in the number of training institutes is expected to neutralize the effects of this factor on market growth in the future.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐑𝐓 𝐅𝐨𝐫 𝐍𝐨𝐧-𝐝𝐞𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐯𝐞 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭:

– Portable NDTs are projected to continue to maintain their leading position during the forecast period.
– Aerospace & defense application will continue to maintain its leading position till 2022.
– The North American region is expected to exhibit a promising growth rate over the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/4551

The key players profiled in the report include 𝑽𝒊𝒕𝒓𝒐𝒙 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏 𝑩𝒆𝒓𝒉𝒂𝒅, 𝑺𝒉𝒊𝒎𝒂𝒅𝒛𝒖 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝑨𝒏𝒓𝒊𝒕𝒔𝒖, 𝑵𝒂𝒈𝒐𝒚𝒂 𝑬𝒍𝒆𝒄𝒕𝒓𝒊𝒄 𝑾𝒐𝒓𝒌𝒔 𝑪𝑶., 𝑳𝑻𝑫, 𝒀𝒙𝒍𝒐𝒏 𝑰𝒏𝒕𝒆𝒓𝒏𝒂𝒕𝒊𝒐𝒏𝒂𝒍, 𝑺𝒎𝒊𝒕𝒉𝒔 𝑫𝒆𝒕𝒆𝒄𝒕𝒊𝒐𝒏, 𝑨𝑫𝑨𝑵𝑰, 𝑹𝒂𝒑𝒊𝒔𝒄𝒂𝒏 𝑺𝒚𝒔𝒕𝒆𝒎𝒔, 𝑫𝒖𝑹𝑹 𝑵𝑫𝑻 𝑮𝒎𝒃𝑯 & 𝑪𝒐. 𝑲𝑮, 𝑲𝒓𝒚𝒔𝒕𝒂𝒍𝒗𝒊𝒔𝒊𝒐𝒏 𝑰𝒎𝒂𝒈𝒆 𝑺𝒚𝒔𝒕𝒆𝒎𝒔 𝑷𝒗𝒕. 𝑳𝒕𝒅, 𝑺𝒂𝒌𝒊 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝑵𝒐𝒓𝒕𝒉 𝑺𝒕𝒂𝒓 𝑰𝒎𝒂𝒈𝒊𝒏𝒈, 𝑰𝒏𝒄., 𝑪𝒐𝒎𝒑𝒖𝒕𝒆𝒓𝒊𝒔𝒆𝒅 𝑰𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏 𝑻𝒆𝒄𝒉𝒏𝒐𝒍𝒐𝒈𝒚 𝑳𝒕𝒅., 𝑹𝒂𝒚𝑺𝒄𝒂𝒏 𝑻𝒆𝒄𝒉𝒏𝒐𝒍𝒐𝒈𝒊𝒆𝒔 𝑮𝒎𝒃𝑯, 𝑽𝑱 𝑮𝒓𝒐𝒖𝒑, 𝑰𝒏𝒄., 𝑴𝒆𝒕𝒓𝒊𝒙 𝑵𝑫𝑻 𝑳𝒕𝒅, 𝑵𝒊𝒌𝒐𝒏 𝑴𝒆𝒕𝒓𝒐𝒍𝒐𝒈𝒚, 𝑶𝒎𝒓𝒐𝒏, 𝑻𝒆𝒍𝒆𝒅𝒚𝒏𝒆 𝑰𝑪𝑴, 𝑽𝒊𝒅𝒊𝒔𝒄𝒐, 𝒁𝒆𝒕𝒆𝒄, 3𝑫𝑿-𝑹𝑨𝒀, 𝑪𝑶𝑴𝑬𝑻 𝑮𝒓𝒐𝒖𝒑, 𝒂𝒏𝒅 𝑶𝒍𝒚𝒎𝒑𝒖𝒔, 𝒂𝒎𝒐𝒏𝒈 𝒐𝒕𝒉𝒆𝒓𝒔. These market players focus on the development of new technology, the launch of novel products with innovative variations, and the adoption of partnership and collaboration as key strategies to establish their position in the market.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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