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NDT Equipment Market Top Key Players, Drivers and Trends to 2022

NDT equipment can be considered as the equipment which is used in the non destructive way of testing of the properties of an object, material or a system without damaging it. The rationale behind using the Non destructive method of testing is to check for discontinuities or differences in the characteristics of a material in accordance with some pre specified norms.

Market Dynamics:
The market for NDT equipment looks to increase gradually in the coming future. The NDT equipment market is expected to grow at a CAGR of XX.XX%. This growth can be attributed to the increasing demand for identifying oil and gas reserves. Also the perception of assured return on investment in this sector is also expected to increase the demand for NDT equipment.

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Market Segmentation:
The market for NDT equipment can be segmented based on the technology used, application and end-user. On the basis of technology, the NDT equipment market can be segmented into Phased array ultrasonic, X-ray computed tomography, computed radiography technology, Electromagnetic technology, Visual testing technology and others. On the basis of Applications, the power generation, petrochemical, oil & gas, aerospace and automotive and others. On the basis of end-user, the NDT equipment market can be segmented into aerospace, power generation and oil & gas.

The market for NDT equipment based on geographies can be categorized into North America, Europe, Asia-Pacific, Middle East and Africa. The highest market for NDT equipment is considered to be the North America region. This can be attributed to the high amount of investments made in the oil and gas industry in the region and also the demand from the automotive industry in the united states is also expected to contribute to the increase in the NDT equipment market.

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Key Players:
The Key players in the Printing Ink industry are GE Inspection technologies, Olympus Corporation, YXLON international, Mistras, Zetec, Dr. Foerster and Nikon metrology.

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