Global Non-destructive Testing Market by Test Method (Radiographic, Magnetic Particle, Visual, Liquid Penetrant), by Vertical (Construction, Manufacturing, Automotive) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global non-destructive testing market was valued at USD 139,000 million in 2020. It is projected to grow at 6.7% compound annual growth rate (CAGR), between 2021 and 2028. Over the forecast period, the market will be driven by the rise in manufacturing activity among the developed and developing nations. Technological innovations have enabled advanced non-destructive tests (NDT), which are more effective in fault detection and safer. In the next few years, NDT will be more widely used by manufacturers due to increased awareness.

Non-destructive testing methods are more efficient because fault detection at complex sites and irregular surfaces makes it easier to complete projects in less time. In the future, non-destructive testing will be more popular because of the lower chance of failures. The main reasons for the increased use of ultrasonic testing are its efficiency in fault detection and ease of operation, which is a major advantage over other NDT equipment. Because of its simplicity, the future advancements in ultrasonic technology are expected to increase adoption.

Over the forecast period, the market is expected to expand at a significant rate. This is due to the increasing urbanization in developing countries like India and China, which requires large-scale construction and manufacturing projects. Because of the speed of these projects, it is imperative that executors implement testing processes to ensure quality work. This trend will likely have a positive impact on the growth of nondestructive testing in these countries, increasing the market's global penetration.

NDT techniques are being used more frequently in North America and the Middle East to ensure that projects are completed on time and within budget. The development of non-destructive testing technology has led to radiographic equipment like industrial CT scanners that can detect defects in machinery and parts. The cost of non-destructive equipment and the knowledge required to conduct the tests increase the difficulty and complexity of the radiographic testing method.

The COVID-19 pandemic has proved to be unfavorable for nearly all industries worldwide, including aviation, construction, and manufacturing. Many governments around the world implemented lockdowns in order to stop the spread of the coronavirus and its adverse effects. Global economic stability was impacted by the disruption of global supply chains and lower industrial productivity. Due to the sudden spread of the virus, the production and manufacturing capabilities of many companies were also affected.

The cumulative reaction of related industries to the pandemic, which use non-destructive tests for their operations, is what causes the NDT market's pandemic effect. The budgeted spending of the government has protected the supply and demand environment, so the impact on the defense sector was not as severe as other sectors. While some companies in defense have been hard hit by the financial shocks, they are less affected than those in aerospace.

Offering Insights

Services dominated the market, accounting for 74.8% of the total revenue in 2020. It is expected to continue its dominance over the forecast period. The high upfront cost of non-destructive equipment coupled with technical complexities involved in their deployment/installation is the major reason influencing end-users to outsource their non-destructive testing operations. Another factor that limits the availability of non-destructive equipment for new installations is a shortage of skilled workers. End-users are encouraged to outsource non-destructive testing to third-party service providers due to strict government regulations on work safety.

The forecast period will see steady growth in the equipment segment. This segment is expected to grow due to technological advances that have made it possible to offer state-of the-art variants. There is an increase in demand for the advanced variants of equipment due to their increased use. New installations are also expected to be triggered by a revival in the industrial sector, particularly in emerging economies like India and China.

Insights from the Test Method

Ultrasonic testing dominated the market, accounting for 24.7% of the total revenue in 2020. This segment is predicted to grow at a CAGR exceeding 7.7% during the forecast period. This is due to the growing use of ultrasonic detectors within manufacturing processes. Ultrasonic detectors can be carried around, are easy to use and produce precise results, as opposed to non-destructive methods. Ultrasonic testing is growing at an impressive rate, and it is expected to continue to grow in the future.

Over the forecast period, radiographic testing is expected to expand significantly. This is due to the use of sophisticated equipment like industrial CT scanners to detect faults. Radiographic testing is the most accurate method of testing, and allows technicians and operators to concentrate on specific areas to minimize the chance of faults in the final product. The cost of testing equipment can be quite expensive, which will limit the growth of this segment in the future.

Vertical Insights

In 2020, the highest revenue share was attributed to the manufacturing vertical segment. It dominated the market for non-destructive tests and held 22.4% of the total. This segment will see a CAGR exceeding 7.8% during the forecast period, mainly due to the ever-increasing global manufacturing volume. Globally, the manufacturing sector is expected to use a variety of NDT processes. This will lead to an increase in non-destructive testing services. Non-destructive testing is also used extensively in oil and natural gas applications. Ultrasonic and eddy current are used to detect cracks in pipes, both underground and above ground. With increasing awareness, non-destructive testing techniques can be used in many other applications, such as aerospace, defense and automotive.

Power generation includes many industries, including power grids and hydroelectric plants. This segment is expected to experience healthy growth during the forecast period, with a CAGR greater than 7.0%. The steady rise in power demand in developing countries is the main reason for the high adoption of non-destructive test techniques in power generation. NDT techniques guarantee higher production rates.

Regional Insights

North America was the most dominant segment in 2020, with a revenue share of over 34.0%. This is due to NDT techniques being used in a variety of applications and the presence of skilled workers as well as the existence of many non-destructive training institutes. The region's growth rate will be positively impacted by the use of shale oil in power generation in the U.S.A. and Canada. The regional market will also be driven by the increasing emphasis on NDT to prevent unexpected failures of systems.

The market in Asia Pacific is expected to grow at a rate of 8.0% during the forecast period. This is due to the increase in construction and manufacturing activities in the region. The region is currently facing a shortage of skilled labor, but this will decrease as more people become aware of and adopt non-destructive test techniques. Due to its significant oil and gas industry, the Middle East is expected to be an attractive market for NDT methods.

Market Share Insights & Key Companies

Market incumbents are keen to increase their market share. They take different initiatives and use different strategies to increase their market share. In October 2020, Nikon Metrology Inc. launched APDIS Laser Radar. This is an automated inspection system with high-speed measurements. There are 4 models in the new product line, with two having a range of 30 to 50 meters. The market leader in non-destructive tests (NDT), is:

• Ashtead Technology Ltd.

• Eddyfi

• Fischer Technologies Inc.

• General Electric

• Nikon Metrology Inc.

• Mistras Group, Inc.

• Olympus Corporation

• Sonatest

• YXLON International GmbH

• Zetec Inc.

Up Market Research published a new report titled “Non-destructive Testing Market research report which is segmented by Test Method (Radiographic, Magnetic Particle, Visual, Liquid Penetrant), by Vertical (Construction, Manufacturing, Automotive), By Players/Companies General Electric , Olympus Corporation , Nikon Metrology Inc, Sonatest , Fischer Technologies Inc , Zetec Inc   , Ashtead Technology Ltd , Eddyfi , Mistras Group Inc , YXLON International GmbH ”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Non-destructive Testing Market Report Segments:

The market is segmented by Test Method (Radiographic, Magnetic Particle, Visual, Liquid Penetrant), by Vertical (Construction, Manufacturing, Automotive).

Non-destructive Testing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Non-destructive Testing Market

Overview of the regional outlook of the Non-destructive Testing Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Non-destructive Testing Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Non-destructive Testing Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Radiographic

                2. Magnetic Particle

                3. Visual

                4. Liquid Penetrant

                1. Construction

                2. Manufacturing

                3. Automotive

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Non-destructive Testing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Non-destructive Testing Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.