Global Non-Destructive Testing Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Non-Destructive Testing Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Non-Destructive Testing market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global non-destructive testing market size was valued at USD 14.8 billion in 2019 and is expected to witness a CAGR of 6.5% over the forecast period. The rise in manufacturing activities amongst the developing and the developed nations, is estimated to drive the non-destructive testing (NDT) market over the forecast period. Furthermore, technological innovations have led to the development of advanced non-destructive testing processes with improved fault detection and safety. Furthermore, increasing awareness amongst the manufacturers regarding the use of non-destructive testing is expected to improve the penetration of NDT techniques over the forecast period. 

Projects deploying non-destructive testing techniques are completed in a lesser amount of time owing to fault detection at complex locations and irregular surfaces. Thus, considerably reducing the possibility of failures, which, in turn, is anticipated to fuel their demand over the forecast period.Besides, the efficiency of fault detection and the ease of operating ultrasonic equipment, as compared to other non-destructive testing equipment, are the major reasons leading to the increasing deployment of the ultrasonic test method. Furthermore, advancements in the ultrasonic technology over the next eight years are expected to increase the adoption of this test procedure owing to its simplicity.

The NDT market is expected to grow at a considerable rate 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 in order to ensure quality in work. This trend is expected to positively impact the growth of non-destructive testing in these nations improving the market’s penetration globally.

Increasing oil and gas projects in Middle East and North America are expected to deploy non-destructive testing techniques in order to complete the projects in prescribed timelines and with finesse, thus fueling the demand for non-destructive testing equipment over the regions.Besides, the advancements in the 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 report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Non-Destructive Testing market are included as given below:

The major players included in the study are General Electric; Nikon Metrology NV; Olympus Corp; Mistras Group; Yxlon International GmbH; Sonatest Ltd; Eddyfi Technologies; Zetec Inc. Fischer Technologies Inc.; Ashtead Technology Ltd.; British Engineering Services Limited; Bureau Veritas; Duemme SpA; Element Material Technology Holding; Geecy Apave Pvt.Ltd.; Industrial Radiographic Inspection Co.; and National Technical Systems, Inc. (NTS). Incumbents of the market remain keen on increasing their market share. As such, they undertake various initiatives and adopt different strategies, such as signing partnerships, making investments engaging in mergers and acquisitions, launching new products and services, and quoting competitive prices.

The global Non-Destructive Testing market has been segmented as below:

• Offering 

  • Non-destructive Testing Services

  • Non-destructive Testing Equipment

• Test Method

  • Visual Testing

  • Magnetic Particle Testing

  • Liquid Penetrant Testing

  • Eddy Current Testing

  • Ultrasonic Testing

  • Radiographic Testing

• Vertical 

  • Oil & Gas

  • Manufacturing

  • Aerospace and Defense

  • Construction

  • Automotive

  • Power Generation

  • Others

•  

• Global Non-Destructive Testing Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Non-Destructive Testing development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects