Non-destructive testing market is projected to witness a compound annual growth rate of 7.91% during the forecast period, reaching a total market size of US$19.596 billion in 2023 from US$12.410 billion in 2017. Non Destructive Testing (NDT) refers to the examination of different components and materials for flaws without harming the object being tested. Escalating costs of machine failures in several end-use industries is the key driver of this market. Rising complexity of machines and equip Read more...
The global explosion proof equipment market is anticipated to grow at a CAGR of 7.26% during the forecast period to reach a total market size of US$10.173 billion by 2023, increasing from US$6.681 billion in 2017. Technological advancements in the industry have led to the intensive use of heavy equipment to carry out the manufacturing processes, most of which involve the emission of inflammable gases and dust particles. This creates an environment prone to explosions and thus, increases the n Read more...
The global failure analysis market is expected to grow at a CAGR of 6.80% to reach a market size of US$9.315 billion by 2023, increasing from US$6.277 billion in 2017. Failure analysis is the timely analysis of possible ways of malfunction of electrical, mechanical and electronic components of a system in order to prevent the safety or environment hazards. This analysis is done in almost every industry to ensure workers’ safety from future accidents. Rising investments in R&D activi Read more...
Surface Inspection Market is projected to witness a compound annual growth rate of 6.89% to reach a total market size of US$4.449 billion by 2023, from US$3.188 billion in 2018. Surface Inspection helps to detect defects on various surfaces as per the user requirement. Industrial automation and enforcement of quality standards in the manufacturing sector are some of the key factors driving the market growth. The demand for surface inspection solutions in the automotive industry due to increasing Read more...
Liquid Encapsulation Market is expected to grow at a compound annual growth rate of 6.10% over the forecast period. Liquid encapsulation is a process by which a material such as a polymer is applied on devices for their protection. Rapidly expanding electronics market, growing trend towards miniaturization of devices, increasing investment from the public and private firms are some of the key factors contributing to the growth of this market. Growing need of advanced packaging technologies fo Read more...
Industrial Radiography market is expected to grow moderately over the period 2017 to 2022. Industrial radiography is the use of electromagnetic waves to inspect any flaw or damage in a product internally. Increased inspection quality by integration with advanced software and growing demand from automotive and aerospace industry are some key factors contributing to the growth of this market. Industrial radiology provides automotive manufacturers for engineering high-quality products and inspec Read more...
The global machine condition monitoring market is expected to grow at a compound annual growth rate of 7.27% over the analyzed period to reach a market size of US$2.901 billion in 2026 from US$1.775 billion in 2019. Machine condition monitoring systems are used to analyze the functioning of machines and locate any technical default, breakdown, or defect before any severe mishap. This technology enables the firms to locate defaults at the initial stage, which helps in the prevention of machi Read more...
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