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Brazil, India, China, and South Africa Offer Long-term Growth Prospects
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The emerging markets for NDT inspection services are Brazil, China, India, and South Africa. Surprisingly, of these markets, China is the smallest. This is due to the trend in China wherein end-user industries prefer performing NDT inspections in-house rather than outsourcing. Similar to the global NDT inspection services market, these emerging growth markets are characterized by a large number of competitors, although most participants are relatively small. End-user industries such as oil and gas and power generation are the key drivers. High oil and gas prices have ensured that the operators earn significant revenue. This revenue has been duly invested back into developing the infrastructure in the energy industry.
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