10 Feb The State of the NDT Industry (Infographic)

Now that we’re well into 2016, it’s time to take a look forward at what the NDT industry will look like years into the future… in infographic form.

At the same time, we wanted to tip our hat at Frost & Sullivan for the excellent quality of its data and analysis. Over the years, F&S has emerged as the most credible source of data on NDT, which is why we collaborated with the people at F&S on this infographic. Hopefully not the last time.

(Click to enlarge)

State of the NDT Service Industry 2015–2020 Infographic Frost & Sullivan

NDT As a Whole

The NDT industry, as of 2015, overall, is an approximately $10 billion industry performing very well, its main drivers in the oil & gas segment being:

  • Stringent safety regulations
  • Aging infrastructures having issues with corrosion
  • The ever growing need to run assets at higher capacities
  • All of this being almost unaffected by the economic downturn

The inspection service industry, in the oil & gas segment (the most profitable) is expected to have an annual compound growth rate (CAGR) of 4.6% over the 2015–2020 period. It will grow from an $8.1 billion to a $10.2 billion industry. Within this, the Middle East and Africa, as well as Asia Pacific are set to have the highest CAGR over the same period.

Things are looking great!

Categories

Infographic Information NDT Oil & Gas Report

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