Non-Destructive Testing and Inspection Market Growth Analysis, Opportunities, Trends, Developments, And Forecast to 2030

The global non-destructive testing (NDT) and inspection market revenue stood at $9 billion in 2020 and the market is predicted to demonstrate rapid advancement in the coming years. The enactment of strict government regulations and policies regarding public safety and product quality and the increasing construction and infrastructure development activities, owing to the rising urbanization rate, especially in emerging economies, are some of the major factors fueling the expansion of the market across the world.

Economies, such as Mexico, Brazil, and China currently account for the majority of the construction spending across the world. Many construction projects, including those launched for major upcoming sporting events, hotels, shopping complexes, and skyscrapers, are presently underway in these nations. For example, the hospitality sector in the APAC region recorded a growth of 12% in construction pipeline from 2017 to 2018. Moreover, the region, excluding China, has 1,673 hotel construction projects currently in the pipeline.

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As NDT and inspection can detect and aid in the repair of corrosion and cracks before any accident occurs and thus, prevent a road or bridge closure or a catastrophic failure, they are being increasingly adopted at construction sites. Moreover, structural health monitoring and infrastructure inspection are widely preformed after construction activities in order to ensure quality and safety. Depending on offering, the NDT and inspection market is classified into services and equipment. Between these, the services category dominated the market in 2020.

This was due to the surging demand for highly skilled workers and the high initial set up costs of various NDT systems, which forced end users to outsource the inspection process to third parties. The market is also divided, on the basis of industry, into aerospace and defense, automotive, construction, manufacturing, and oil and gas categories. Out of these, the manufacturing category is predicted to hold the largest share in the market in the coming years. This will be because of the rapid automation of various manufacturing processes via the adoption of smart technologies.

Geographically, the Asia-Pacific (APAC) region will be the fastest growing region in the NDT and inspection market in the upcoming years, as per the estimates of the market research firm, P&S Intelligence. This is credited to the rapid infrastructure development in various developing countries, such as China and India. Additionally, the expansion of the aerospace and defense and oil and gas industries in the region is boosting the requirement for these testing methods, as they are increasingly being required for guaranteeing the safety of employees and the efficiency of the devices that are used at the site.

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Therefore, the market is set to exhibit rapid advancement in the coming years, primarily because of the surging construction and infrastructure development activities, especially in developing countries, implementation of strict safety regulations by the governments of many countries, and the burgeoning requirement for efficient and effective testing and inspection methods across the world.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.