Global Non-Destructive Testing and Inspection Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Non-Destructive Testing and Inspection Market: Overview
“The global Non-Destructive Testing and Inspection Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Non-destructive testing and inspection techniques are used to test objects or products for defects or flaws and inadequacies in the components or systems, and materials, without damaging the object. The non-destructive testing and inspection is necessary to assure reliability and safety of various products and sources such as aircraft, automobiles, bridges, buildings, pipelines, trains, power stations, refineries, and oil platforms.
Global Non-Destructive Testing and Inspection Market: Dynamics
Growing government regulations pertaining for safety and quality of material and products is resulting into high demand for various analysis techniques such as non-destructive testing and inspection. Aforementioned is a major factor expected to proliferate growth of the global market over the forecast period.
Moreover, increasing advancements in electronics products, coupled with increasing penetration of robotics in automation of various industries is resulting into high demand for non-destructive testing and inspection. This demand is primarily attributed due to benefits offered by non-destructive testing in materials, products and equipment such as, safety, reliability, affordability, and quality assurance.
However, increasing reluctant to adopt new non-destructive testing techniques owing to high price and increasing integration complexity of machines and structures are among some major factors expected to hamper growth of the global market to a certain extent.
Global Non-Destructive Testing and Inspection Market: Opportunities and Trend
High demand for non-destructive testing and inspection services for measuring established infrastructure which test corrosion issues. In addition, increasing R&D activities for innovative technological advancements for creating new application areas for non-destructive testing analysis are major opportunities expected to contribute high revenue growth in the global non-destructive testing and inspection market.
Global Non-Destructive Testing and Inspection Market: Segment Insights
The ultrasonic testing segment is expected to register highest market share over the forecast period. Ultrasonic testing is widely used to detect variations or flaws in the properties of materials by using high-frequency sound waves. This testing determines the thickness and detect the depth of internal flaws of non-metallic and metallic materials.
Global Non-Destructive Testing and Inspection Market: Regional Insights
North America is expected to dominate in terms of market share in the global market, and it is expected to contribute significant CAGR during the forecast period. The market in Asia Pacific is estimated to grow at steadily, owing to increasing demand for non-destructive testing and inspection analysis primarily attributed to increasing infrastructure development and power plants in this region.
Furthermore, Europe is expected to anticipate lucrative growth rate in the global market, due to growing demand form manufacturing, construction, and power generation sectors in the region. Moreover, the market in Latin America is expected to record steady revenue growth followed by market in Middle East & Africa, owing to growing awareness and stringent regulations regarding safety of various products in the countries in these regions.
Global Non-Destructive Testing and Inspection Market Segmentation:
Segmentation by Technique:
- Visual Testing
- Ultrasonic Testing
- Radiographic Testing
- Acoustic Emission Testing
- Others (Liquid Penetrant Testing Magnetic Particle Testing Eddy Current Testing, etc.)
Segmentation by Method:
- Visual Inspection
- Surface Inspection
- Volumetric Inspection
Segmentation by Service:
- Training Services
- Inspection Services
- Calibration Services
- Equipment Rental Services
Segmentation by Industrial Vertical:
- Oil & Gas
- Public Infrastructure
- Manufacturing and Power Generation
- Aerospace & Defense
- Others (Power & Energy, Medical and Health, Electronics, Plastics & Polymers, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Eddyfi NDT Inc.
- General Electric
- Mistras Group, Inc.
- Nikon Metrology, Inc.
- Olympus Corporation
- Yxlon International GmbH
- Fischer Technology, Inc.
- Magnaflux Corporation
- Ashtead Technology, Inc.
- NDT Global GmbH & Co. Kg
- Bosello High Technology Srl
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