What's driving the Non-Destructive Testing (NDT) Service Market growth? Intertek, MIstras Group, NDT Global, Applus+, TUV Nord, ALS, Bureau Veritas, Dekra, Nikon Metrology, NVI, SGS, TUV Rheinland, Zetec

Market Study Report LLC adds 2019-2025 Global Non-Destructive Testing (NDT) Service market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.

Europe is leading the NDT service market with over 30% share in 2018. The market is primarily driven by the increasing number of collaborative initiatives by players operating in the region and the presence of various regulatory guidelines mandating the implementation of services. The Asia Pacific market is expected to attain a growth rate of over 10% over the projected timeframe due to the widespread industrialization and introduction of safety polices. The rising demand for asset management services in the region is leading the foreign players to monetize on various growth opportunities in countries including China, India, and Japan. The lack of skilled inspectors and high costs of NDT services are restricting its usage in certain sectors.

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Non-Destructive Testing (NDT) Service Market is anticipated to exceed USD 4.5 billion by 2025. The increasing costs & challenges associated with the establishment of new infrastructure has resulted in significant aging of the existing organizational set-up. This has led organizations to look for new ways to extend the lifecycle of their existing infrastructure. Due to high costs associated with the repair & maintenance of the existing infrastructure and the need for more extensive & frequent testing services, public & private establishments are investing more on advanced asset protection services to safeguard the structural & operational integrity of their infrastructure.

The operators and owners of infrastructural establishments are constantly facing several stringent policies & safety standards. Failure to adhere with these guidelines can result in significant financial liabilities, higher insurance premiums, tarnished brand value, and scrutiny by regulatory bodies. The growing frequency of industrial accidents such as explosions & fires over the last decade caused substantial damage to the reputation of various enterprises. This has led infrastructural operators and owners along with their associated stakeholders to invest on various advanced asset management services, such as NDT, to protect their infrastructure and comply with various safety regulations.

The volumetric inspection market holds over 50% share in the global NDT service market. The increasing use of lower grade raw material and feed stock, particularly in the oil & gas industry, and the adoption of advanced manufacturing practices in various business verticals are promoting the use of volumetric inspection services. The surface inspection market is projected to grow at a CAGR of over 6% due to the rising pressure on manufacturing establishments to reduce the number of external defects and irregularities. The surface inspection services have been extensively adopted in the aerospace industry due to need to conduct maintenance & repair operations over short durations.

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Ultrasonic inspection services accounted for over 30% revenue in the NDT service market in 2018. The implementation of advanced technologies and infrastructural advancements of numerous manufacturing facilities are promoting the use of ultrasonic inspection services. The phased array testing market is expected to grow exponentially as it eradicates the need to stop factory operations caused due to radioactivity exposure, enhancing productivity. The radiography market is anticipated to register a growth rate of over 5% over the forecast timeline. The increasing number of infrastructural developments and the influx of various safety guidelines have generated numerous opportunities for the expansion of the radiography NDT service market. The technology has been extensively used in the aerospace and automotive sectors to produce high tolerance components. High implementation costs associated with the technology and the lack of skilled professionals are limiting its usage in certain industry verticals.

The aerospace industry is projected to grow at a CAGR of over 6% during the forecast timespan, as NDT services offer an economical & efficient solution for a high-volume production of aviation components. The services provide an effective way to identify any surface & internal irregularities throughout the operational lifecycle of the components. The oil & gas industry held over 25% of the NDT service market revenue in 2018. The services safeguard the mechanical & structural integrity of the infrastructure and equipment used in oil & gas platforms by continuous monitoring to avoid any catastrophic failures.

Europe is leading the NDT service market with over 30% share in 2018. The market is primarily driven by the increasing number of collaborative initiatives by players operating in the region and the presence of various regulatory guidelines mandating the implementation of services. The Asia Pacific market is expected to attain a growth rate of over 10% over the projected timeframe due to the widespread industrialization and introduction of safety polices. The rising demand for asset management services in the region is leading the foreign players to monetize on various growth opportunities in countries including China, India, and Japan. The lack of skilled inspectors and high costs of NDT services are restricting its usage in certain sectors.

Some of the companies present in the NDT service market are Applus+, ALS, Dekra, MIstras Group, SGS, TUV Rheinland, Zetec, NDT Global, Nikon Metrology, NVI, Intertek, Bureau Veritas, and TUV Nord. Major players operating in Europe and North America are focusing on various inorganic growth initiatives to expand their presence in high potential markets. For instance, in April 2017, Applus+ acquired Emilab, an electrical and electronic testing service provider. This acquisition will allow Applus+ to increase its global presence in high technology value sectors.

Table of Content:

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definitions

1.1.6. Methodology & forecast parameters

1.2. Data Sources

1.2.1. Secondary

1.2.1.1. Paid sources

1.2.1.2. Public sources

1.2.2. Primary

Chapter 2. Executive Summary

2.1. NDT service industry 360 degree synopsis, 2014 - 2025

2.2. Business trends

2.3. Regional trends

2.4. Method trends

2.5. Technology trends

2.5.1. Ultrasonic inspection services trends

2.5.2. Radiography testing services trends

2.5.3. Eddy-current testing services trends

2.6. End-use trends

Chapter 3. NDT Service Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2014 - 2025

3.4. Industry ecosystem analysis

3.5. Market evolution

3.6. Regulatory landscape

3.7. Technology and innovation landscape

3.8. Use cases

3.9. Industry impact forces

3.9.1. Growth drivers

3.9.1.1. Globalization

3.9.1.2. Aging infrastructure

3.9.1.3. Outsouricng of NDT services

3.9.1.4. Stringent governemnt regulations associated with safety and quality control

3.9.1.5. Increasing use of advance materials

3.9.1.6. Rising incidences of corrosion from low quality products

3.9.2. Industry pitfalls & challenges

3.9.2.1. Lack skilled professionals

3.9.2.2. Complex nature of global supply chain

3.10. Growth potential analysis

3.11. Porter's analysis

3.12. PESTLE analysis

Chapter 4. Competitive Landscape, 2018

4.1. Introduction

4.2. Company market share, 2018

4.3. Merger & acquisition landscape

4.4. Competive analysis of major market players, 2018

4.4.1. ALS

4.4.2. Applus

4.4.3. Bureau Veritas

4.4.4. Dekra

4.4.5. Intertek

4.4.6. Mistras

4.4.7. NDT Global

4.4.8. Nikon Metrology

4.4.9. SGS

4.5. Other prominnet vendors

Chapter 5. Global NDT Service Market, By Method

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Related Report:

Global Non-Destructive Testing Services Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023

Non-destructive testing (NDT) is a wide group of analysis techniques used in science and technology industry to evaluate the properties of a material, component or system without causing damage. Because NDT does not permanently alter the article being inspected, it is a highly valuable technique that can save both money and time in product evaluation, troubleshooting, and research. The six most frequently used NDT methods are eddy-current, magnetic-particle, liquid penetrant, radiographic, ultrasonic, and visual testing. NDT is commonly used in forensic engineering, mechanical engineering, petroleum engineering, electrical engineering, civil engineering, systems engineering, aeronautical engineering, medicine, and art.

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