Non-Destructive Testing Equipment and Services Market is Expected to Reach US$ 34.4 Bn by the End of 2031-Mistras Group, GE Measurement & Control Solutions, SGS, Zetec, Ashtead Technology, Magnaflux, Sonotron NDT, Bosello High Technology SRL, YXLON Intern

The global non-destructive testing market size was valued at USD 19.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2032. Non-Destructive Testing Equipment and Services will reach at $34.4 bn by 2032, The rise in manufacturing activities among the developing and developed nations is estimated to drive the growth of the non-destructive testing (NDT) market over the forecast period. Technological innovations have led to the development of advanced NDT processes with improved fault detection and safety. Furthermore, increasing awareness amongst the manufacturers regarding the use of NDT is expected to improve the penetration of NDT techniques in the forthcoming years

In addition, the Global Non-Destructive Testing Equipment and Services market study also covers several factors such as market status, key market trends, growth forecast, and growth opportunities. Furthermore, we analyze the challenges faced by the Global Non-Destructive Testing Equipment and Services market in terms of global and regional basis.

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Key Players Mentioned in the Global Non-Destructive Testing Equipment and Services Market Research Report: Mistras Group, GE Measurement & Control Solutions, SGS, Zetec, Ashtead Technology, Magnaflux, Sonotron NDT, Bosello High Technology SRL, YXLON International, Fischer Technology, Sonatest, Bureau Veritas, X-R-I Testing, Element, Fujifilm, Olympus

Global Non-Destructive Testing Equipment and Services Market Segmentation:

Non-Destructive Testing Equipment and Services Market Types:

Non-Destructive Testing Equipment, Non-Destructive Testing Services.

Non-Destructive Testing Equipment and Services Market Applications:

Industrial, Construction, Automotive, Transportation, Aerospace and Defense, Other

The phased array ultrasonic testing (PAUT) segment dominated the market and accounted for the largest share of 21.0% in 2021. This growth is ascribed to the growing adoption of PAUT as compared to other digital NDT methods. The detailed visualization feature associated with the PAUT method helps in identifying the size, depth, shape, and orientation of the defect. PAUT is considered an advanced version of ultrasonic testing involving the use of multiple transducers and sets of ultrasonic testing (UT) probes made up of numerous smaller elements.

Vertical Insights
The manufacturing vertical segment dominated the non-destructive testing (NDT) market and accounted for the largest revenue share of 22.0% in 2021. The growth is attributed to the ever-increasing volume of manufacturing across the globe. The manufacturing vertical is expected to deploy numerous NDT processes thereby leading to an increase in demand for non-destructive testing services globally. Moreover, non-destructive testing has been traditionally used extensively in oil and gas applications. Test methods such as ultrasonic and eddy current have been used to detect cracks in pipes, both underground and elevated. However, with increasing awareness, non-destructive testing techniques are being deployed in several other applications such as aerospace, defense, and automotive.
Competitive Outlook

The record includes full-size qualitative and quantitative market records, similarly to the studies strategies used to acquire numerous conclusions. This Non-Destructive Testing Equipment and Services market studies document includes an in-depth listing of the market's top players further to sure data on every corporation, collectively with an industrial agency company profile, sales shares, a strategic evaluation, and modern developments.

The objective of the studies:

- To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global Non-Destructive Testing Equipment and Services Market.

-Provide information on factors affecting the growth of the market. To analyze the Non-Destructive Testing Equipment and Services Market based on various factors- price analysis, supply chain analysis, Gate Five force analysis, etc.

-Provide historical and forecast revenue of market segments and sub-segments for four major geographies and their countries - North America, Europe, Asia, Latin America and Rest of the World.

-Provide country level market analysis relative to current market size and future prospects.

- To provide country level market analysis for the segment by application, product type and sub-segments.

-Provide a strategic profile of the major market players, by deeply analyzing their core competencies and drawing a competitive landscape for the market.

- Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Non-Destructive Testing Equipment and Services Market.

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Regional Insights
North America emerged as the dominant segment in 2021 with a revenue share exceeding 36.0%. This is attributed to the adoption of NDT techniques across numerous applications, the availability of a skilled workforce, and the number of non-destructive testing training institutes in the region. Furthermore, power generation using shale oil in the U.S. and Canada is expected to positively impact the growth rate in the region. Besides, the growing emphasis on the use of NDT to avoid unexpected failures of systems is expected to drive the regional market.

In the Asia Pacific region, the market is expected to witness a CAGR of more than 9.0% over the forecast period. This growth is ascribed to an increase in manufacturing, construction, and power generation activities in the region. Although the region faces a scarcity of skilled labor currently, it is expected to reduce, as the awareness and adoption of non-destructive testing techniques increases in the coming years. Furthermore, the Middle East, due to the significant presence of the oil and gas industry, is expected to be a potential market for NDT techniques.

Table of Contents:

1 Study Coverage

2 Market by Type

3 Market by Application

4 Global Non-Destructive Testing Equipment and Services Competitor Landscape by Company

5 Global Non-Destructive Testing Equipment and Services Market Size by Region

6 Segment in Region Level & Country Level

7 Company Profiles

8 Industry Chain and Sales Channels Analysis

9 Research Findings and Conclusion

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Drivers : Increased adoption of NDT and inspection equipment and services in electronics, automation, and robotics industrial segments
With the growing awareness about various industrial NDT and inspection methods and their implementation to extend the existing lifespan of different equipment and improve their production efficiency, as well as enhance the quality of products, there has been an increase in the demand for NDT and inspection equipment and services globally. Advancements in industrial segments such as electronics, automation, and robotics are offering growth opportunities for the companies offering NDT and inspection solutions and services. The increased adoption of robotics in different sectors has opened new avenues for NDT and inspection applications. For instance, they can be used in robotic surgeries in the medical sector; real-time X-ray inspection of solder joints and electronic components in the electronics industry; and detection and assessment of defects in automation-based mechatronic systems.

Restraints : A dearth of skilled and qualified personnel to carry out NDT and inspection activities
In recent years, NDT and inspection services are gaining more momentum than NDT and inspection equipment. Moreover, it has become important for players to enhance their global presence, and at the same time, create a highly qualified workforce for providing effective NDT and inspection services. Hence, a qualified workforce with the required NDT and inspection skillset is a strategic concern for market players. Stringent government regulations and the high complexity of NDT and inspection techniques has led to the growing need of skilled workforce for testing and inspection.

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