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

The World Health Organization (WHO) forecasts that “nearly 68% of the world’s population will reside in urban areas by 2050”. The booming urban population is resulting in the large-scale construction of housing units and public infrastructure facilities. In contemporary times, developing countries, such as Mexico, China, Brazil, and India, have become construction hubs, due to the soaring urban population and rising government focus on creating new-age infrastructure for citizens. Moreover, the expanding hospitality industry in developing countries, owing to the upcoming sporting events, will lead to the construction of new hotels and shopping complexes.

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Therefore, the expanding construction industry, especially in emerging economies, is expected to support the non-destructive testing (NDT) and inspection market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated ~$9 billion revenue in 2020. In recent years, the integration of the internet of things (IoT) with NDT and inspection systems has become a major market trend, as this technology will improve NDT and inspection procedures conducted at regular intervals during the lifetime of an object.

The method segment of the non-destructive testing and inspection market is categorized into eddy current testing, liquid penetrant testing, magnetic particle testing, radiographic testing, ultrasonic testing, and visual testing. Under this segment, the ultrasonic testing category is projected to generate the highest revenue during the forecast period, owing to the high accuracy of this NDT and inspection method. High-frequency sound waves are used in the ultrasound testing method to detect defects in ceramics, metals, composites, and plastics.

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In the forecast period, the Asia-Pacific (APAC) non-destructive testing and inspection market will demonstrate the fastest growth, due to the increasing deployment of automation solutions in the manufacturing sector of India and China and the booming infrastructure sector in the region. Among APAC nations, India is expected to display the fastest growth in the forecast years, on account of the ongoing Make in India campaign of the central government and the soaring number of smart city projects in the country.

Thus, the booming construction sector is creating a huge requirement for NDT testing and inspection systems in the world.

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This release was published on openPR.