Research and Markets has announced the addition of the "Global Nondestructive Testing Equipment Market 2012-2016" report to their offering.
The analysts forecast the Global Nondestructive Testing Equipment market 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.
The key vendors dominating this space are GE Inspection Technologies GmbH, Olympus NDT Inc., YXLON International Inc., and Magnaflux Corp.
Commenting on the report, an analyst from the Automotive team said: "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."
According to the report, 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.
Further, the report states that one of the main challenges in this market is the recent global economic slowdown, which is expected to negatively impact sales of nondestructive testing equipment.
For more information visit http://www.researchandmarkets.com/research/5l4pkn/global.
Source: http://www.researchandmarkets.com/