The
nondestructive testing (NDT) equipment market in India is having a
steady growth , according to the latest analysis by Frost &
Sullivan. By the demand of end-user industries, such as automotive,
aerospace,transportation, military and defense, will be the main
factors of market revenues as rapid industrialization in the country
makes NDT equipments indispensable. Further, developments in the
infrastructure of road and the building of oil reservoirs, pipelines,
refineries and nuclear power plants, offers huge opportunities for
NDT equipment vendors, the analysis states.
The
establishment of safety norms, quality assurance,precautionary
measures, and regulations by the government boosts the NDT market
segment as it is critical for establishments to provide safety
assurance and procure trouble-free license approvals.In particular
NDT equipment for inspection in the nuclear industry, is expected to
gain a strong foothold during the forecast period.
Further, regular assessment strategies enforced to maintain ageing infrastructure and improve cost-effectiveness by optimizing its useful life supports the use of NDT equipment. For instance use of NDT helps to reduce investment in new resource procurements by testing old, navy ships,high-pressure vessels, aircraft and railway coaches for refurbished use.
"Over the last decade ,India has become a hub for third-party inspection services .More than 700 companies are offering inspection services across product segments encouraging demand for new equipment as the inspection services market grows", said Frost & Sullivan analyst.
However, price remains as a concern. The unpredictability change of the Indian currency and its momentous devaluation has lead to significant price differences between currency value at the time of placing raw material import purchase orders and final delivery, thereby decreasing manufacturers' margins. Till the situation get stabilized , new procurement s are being postponed and adding to NDT equipment suppliers' woes. In addition to price consciousness, customer reluctance to use new technologies too shrinks sales volumes.
Raising understanding on the advantages of NDT equipment among end-user industries, government organizations, and training institutes can bridge the gap between vendors and customers in the Indian market, the analysis states. Mitigating redundant technological features in NDT equipment through customized value addition and also improving automation and ease of use will widen the potential of market. Collective efforts are also required to deliver comprehensive turnkey testing solutions with benefits spread across the value chain, the analysis states. NDT Institute in kerala
