The rapid expansion of key end-user industries, such as oil and gas and power generation, is encouraging investment in newer infrastructure, which is driving demand for nondestructive test inspection (NDT) services in the emerging markets of Brazil, South Africa, India and China. Of these, Brazil is the most developed, accounting for 55 percent of the market share. Furthermore, with the investment plans announced by Petrobras to develop oil and gas infrastructure in Brazil, sustained market growth is expected in the long term.
New analysis from Frost & Sullivan, Emerging Growth Markets for Nondestructive Test (NDT) Inspection Services, finds that the market earned revenue of $367.8 million in 2012 and estimates this to reach $615.6 million in 2017. The study covers the oil and gas upstream, midstream and downstream, power generation, and other industries, such as aerospace, automotive, transportation, shipbuilding, manufacturing, pulp and paper, and sugarcane end-user sectors.