Mumbai: The nondestructive test (NDT) equipment
market in India is poised for a steady growth. Demand from end-user industries,
such as automotive, transportation, aerospace, military and defense, will be
the biggest driver of market revenues as rapid industrialization in the country
makes NDT equipments indispensable, according to an analysis from Frost &
Sullivan.
Further, improvements in road and air infrastructure and the
building of oil reservoirs, pipelines, refineries and nuclear power plants,
offers immense opportunities for NDT equipment vendors, it says.
Indian Nondestructive Test Equipment Market has earned
revenues of Rs 359.2 crore in 2012 and estimates this to reach Rs 501.9 crore
2016.
The introduction of safety norms, precautionary measures,
quality assurance, 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. NDT equipment for inspection in the
nuclear industry, in particular, is expected to gain a strong foothold during
the forecast period.
Further, periodical assessment strategies enforced to
preserve ageing infrastructure and improve cost-effectiveness by optimizing its
useful life supports the use of NDT equipment. For instance, NDT is used to
help reduce investment in new resource procurements by testing old,
high-pressure vessels, navy ships, aircraft and railway coaches for refurbished
use.
“India has become a hub for third-party inspection services
over the last decade. More than 500 companies are offering inspection services
across product segments spurring demand for new equipment as the inspection
services market grows”, says a Frost & Sullivan analyst.
However, price remains a concern. The volatility of the
Indian currency and its drastic devaluation has lead to significant price
differences between currency value at the time of placing raw material import
purchase orders and final delivery, thereby shrinking manufacturers’ margins.
New procurements are being postponed till the situation stabilizes, and this is
adding to NDT equipment suppliers’ woes. In addition to price consciousness,
customer reluctance to use new technologies too curtails sales volumes.
Raising awareness on the benefits of NDT equipment among
end-user industries, government organizations, and training institutes can
bridge the gap between vendors and customers in the Indian market. Mitigating
redundant technological features in NDT equipment through customized value
addition, as well as improving automation and ease of use will widen market
potential. Concerted efforts are also required to deliver comprehensive turnkey
testing solutions with benefits spread across the value chain.
“Reduction in size, with the possession of maximum features
and working ability, is the order of the day for many instruments, and NDT
equipment follow suit,” says the analyst, adding, “Achieving maximum
reliability and accuracy, and deriving ideal levels of flaw detection with such
instruments at affordable prices, have become key areas of focus in NDT
equipment instrumentation and measurement research.”
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