Non-destructive Testing Industry Overview
The global non-destructive testing market size was valued at USD 17.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2030.
The rise in manufacturing activities among the developing and developed nations is estimated to drive the growth of the non-destructive testing (NDT) market over the forecast period. Technological innovations have led to the development of advanced NDT processes with improved fault detection and safety. Furthermore, increasing awareness amongst the manufacturers regarding the use of NDT is expected to improve the penetration of NDT techniques in the forthcoming years.
Projects deploying non-destructive testing techniques are completed in a lesser amount of time owing to fault detection at complex locations and irregular surfaces. Reducing the possibility of failures is anticipated to fuel the demand for non-destructive testing in the forthcoming years. Besides, the efficiency of fault detection and the ease of operating ultrasonic equipment, as compared to other NDT equipment, are the major reasons leading to the increasing deployment of the ultrasonic test method. Furthermore, advancements in ultrasonic technology over the next eight years are expected to increase the adoption of this test procedure owing to its simplicity.
Gather more insights about the market drivers, restrains and growth of the Global Non-destructive Testing Market
The market is expected to grow considerably over the forecast period. This growth is attributed to rising urbanization in developing nations such as India and China which involves undertaking extensive construction and manufacturing projects. The speed of such projects makes it mandatory for the executors to implement testing processes to ensure the quality of work. This trend is likely to positively impact the growth of non-destructive testing in these nations, improving the market’s penetration globally.
Increasing oil and gas projects in the Middle East and North America are expected to deploy NDT techniques to complete the projects in prescribed timelines and with finesse, thus fueling the demand for NDT equipment in these regions. Besides, the advancements in non-destructive testing technology have led to the development of radiographic testing equipment such as industrial CT scanners, which precisely detect faults in machinery and components. However, the cost of the non-destructive testing equipment and the expertise required to perform the tests increases the complexity and difficulty of deploying the radiographic testing method.
The COVID-19 pandemic outbreak has turned out to be unfavorable and unforeseen for almost all industries globally, including automotive, construction, airlines, manufacturing, among others. As a preventive measure, many governments worldwide implemented lockdowns to contain the novel coronavirus's spread and its subsequent adverse effects. The disrupted global supply chain and decreased industrial productivity strained the global economy. The companies' production and manufacturing capabilities were also disrupted due to the sudden outbreak of the virus.
Furthermore, the impact of the pandemic on the NDT market stems from the cumulative reaction of relatable industries, which apply non-destructive testing for their operations, to the pandemic. For instance, the defense industry has been affected mildly, when compared to other sectors, due to budget government spending, which protects the supply and demand ecosystem. Although some defense companies have been hit hard by the financial shock, the impact is weaker than that on aerospace companies.
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Non-destructive Testing Market Segmentation
Grand View Research has segmented the global non-destructive testing market based on offering, test method, vertical, and region:
- Non-destructive Testing Offering Outlook (Revenue, USD Million, 2017 - 2030)
- Services
- Equipment
- Non-destructive Testing Test Methods Outlook (Revenue, USD Million, 2017 - 2030)
- Traditional NDT Method
- Visual Testing
- Magnetic Particle Testing
- Liquid Penetrant Testing
- Eddy Current Testing
- Ultrasonic Testing
- Radiographic Testing
- Digital/Advanced NDT Method
- Digital Radiography (DR)
- Phased Array Ultrasonic Testing (PAUT)
- Pulsed Eddy Current (PEC)
- Time-Of-Flight Diffraction (TOFD)
- Alternating Current Field Measurement (ACFM)
- Automated Ultrasonic Testing (AUT)
- Non-destructive Testing Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Oil & Gas
- Manufacturing
- Aerospace and Defense
- Construction
- Automotive
- Power Generation
- Others
- Non-destructive Testing Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- October 2020: Nikon Metrology Inc. announced the launch of APDIS Laser Radar, which is an automated inspection system that offers high-speed measurements. The new product range comprises 4 models, out of which two have a measuring range of 30 and 50 meters.
Key Companies profiled:
Some prominent players in the Non-destructive Testing market include
- Ashtead Technology
- Eddyfi
- Fischer Technologies Inc.
- General Electric
- Nikon Corporation
- Mistras Group
- Olympus Corporation
- Sonatest
- Yxlon International
- Zetec, Inc.
- MME Group
- TWI Ltd.
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COVID-19 Impact Analysis on Non-Destructive Testing Instruments Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the non-destructive testing instruments market include Gеnеrаl Еlесtrіс, Оlуmрuѕ Соrроrаtіоn, Міѕtrаѕ, Nіkоn, Маgnаfluх, YХLОN, Fuјіfіlm, Ѕоnаtеѕt, Zеtес, Іnс., Воѕеllо Ніgh Тесhnоlоgу ѕrl and Unіоn.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Non-Destructive Testing Instruments Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/non-destructive-testing-instruments-market/download-sampleMarket DynamicsThe market is mainly driven by strict rules imposed by various governments regarding public safety and quality of the product.
Further, growing construction activities across the globe and rising demand for electricity due to rapid urbanization and the growing population bolstered the demand over the forecast period.
However, high initial investment costs may hamper the market to some extent.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The global non-destructive testing market size is projected to reach USD 13.30 billion by the end of 2027.
According to a report published by Fortune Business Insights, titled “Non-Destructive Testing (NDT) Market Size, Share & COVID-19 Impact Analysis, By Technique (Ultrasonic Testing, Visual Inspection Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, and Acoustic Emission Testing) By Method (Visual Inspection, Surface Inspection, Volumetric Inspection, and Others), By Service (Ultrasonic Inspection, Equipment Rental Services, Calibration Services, and Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, and Others)and Regional Forecast, 2020-2027,” the market was worth USD 8.42 billion in 2019 and will exhibit a CAGR of 9.25% during the forecast period, 2020-2027.Non-destructive testing is an advanced method that is primarily used to detect and evaluate several defects in materials that are used in aerospace industry.
The rise of the aerospace industry in the past few years has created several growth opportunities for the companies operating in the global NDT market.
Subsequently, the presence of several large scale companies in the United States will have a huge impact on the growth of the regional market.
As of 2019, the market in North America was worth USD 3.09 billion and this value is projected to increase further in the coming years.
List of the Leading Companies Profiled in the Global Non-destructive Testing Market are:Acuren Inspection Inc. (The U.S.)Ashtead Technology (The U.K.)Bosello High Technology Srl (Italy)Cygnus Instruments Ltd (The U.K.)Eddyfi (Canada)Fischer Technology Inc. (The U.S.)Fprimec Solutions Inc. (Canada)General Electric (The U.S.)Ipromar Pte Ltd (Singapore)Labquip NDT Limited (The U.K.)LynX Inspection (Canada)Magnaflux Corporation (The U.S.)Mistras Group (The U.S.)NDT Global GmbH & Co. Kg (The U.S.)Nikon Metrology (Japan)Olympus Corporation (Japan)Sonatest Ltd. (The U.K.)TD Williamson, Inc. (The U.S.)YXLON International GmbH (Denmark) Industry Developments:June 2019: Testia announced the launch of a latest version of its ultrasonic testing device named as a smart UE1 device.
