Global Non-Destructive Testing and Inspection Market to Hit USD 12.84 billion by 2030

The global non-destructive testing and inspection market is estimated to be USD 8.3 billion in 2021 and is predicted to reach USD 12.84 billion by 2030, growing at a CAGR of 7.0% during the forecast period. The factors responsible for the growth of non-destructive testing and inspection across the globe are the increasing adoption of IoT devices, the growing need to assess aging assets' health, stringent government regulations regarding public safety and product quality, and continuous advances in electronics, automation, and robotics.

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Market Segmentation
Insight by Technique

Based on technique, the global non-destructive testing and inspection market is categorized into ultrasonic testing, visual testing, magnetic particle testing, liquid penetrant testing, eddy-current testing, radiographic testing, acoustic emission testing, and others. In 2021, the ultrasonic testing segment is the largest contributor in the non-destructive testing and inspection market owing to its ability to identify defects and accurately determine their severity.

Insight by Method

On the basis of method, the global non-destructive testing and inspection market is segmented into visual inspection, surface inspection, volumetric inspection, and others.

Insight by Services

On the basis of services, the global non-destructive testing and inspection market is categorized into inspection services, training services, equipment rental services, calibration services. In 2020, the inspection services segment is expected to be largest among all the segments and is projected to maintain its dominance, over the study period.

Insight by Vertical

On the basis of vertical, the global non-destructive testing and inspection market is categorized into manufacturing, oil & gas, aerospace, public infrastructure, automotive, power generation, and others. In 2021, the oil & gas industry segment is expected to be largest among all the segments and is projected to maintain its dominance, over the study period.

Non-destructive testing and inspection in the oil & gas industry is traditionally used for inspection purposes to detect cracks in the pipes both underground and elevated. Besides, non-destructive testing and inspection systems are also used for aerospace, defense, and automotive manufacturing. Manufacturing vertical is expected to witness the fastest growth during the forecast period owing to ever increasing volume of manufacturing across the world.

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Industry Dynamics
Growth Drivers

The primary factors driving the growth of the global non-destructive testing and inspection market are:

• Increasing adoption of IoT devices
• Growing demand for assessment of health of aging assets
• Stringent government regulations regarding public safety and product quality
• Growing adoption of NDT and inspection equipment and services in electronics, automation, and robotics industrial segments
• Growing need for ASICs

The global pandemic of COVID-19 has severely impacted the growth of the non-destructive testing and inspection market. Globally, sales of non-destructive testing and inspection equipment and services for major verticals such as oil & gas and aerospace are expected to decline by 12-16% in the fiscal year 2020, depending upon the virus's progression in different regions of the world.

Challenges

Decline in the number of new oil and exploration projects, temporary shutdown of production facilities, and reduction in crude oil prices are probably the greatest obstacle confronting non-destructive testing and inspection producers.

Opportunities

• Technological advancements in NDT and inspection techniques and emergence of new applications
• Large-scale infrastructural developments in APAC, Europe, and Latin America
• Increased demand for NDT and inspection services from power generation industry

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Geographic Overview
Geographically, Asia-Pacific is the fastest growing region in the non-destructive testing and inspection market in 2021. The Asia-Pacific region, in particular countries such as China, Taiwan, Japan, South Korea, and India, are experiencing increase in terms of adoption of non-destructive testing and inspection products and solutions compared with other regions. Growing research and development investments, and increasing manufacturing and electronics industries are expected to accelerate the growth of the non-destructive testing and inspection market in Asia-Pacific.

Competitive Insight

Key players operating in the global non-destructive testing and inspection market include General Electric, Olympus Corporation, MISTRAS Group, Nikon Metrology, Ashtead Technology, YXLON International, Sonatest, Zetec, Inc., T.D. Williamson Inc., and Bosello High Technology srl.
Olympus NDT solutions provide the latest inspection technology. Their wide-ranging portfolio includes flaw detectors, thickness gauges, transducers, probes, and others. Olympus specializes in five frequently used NDT methods: eddy current, eddy current array, conventional ultrasonic, phased array and phased array using the total focusing method (TFM)/full matrix capture (FMC). Non Destructive and Testing solutions and equipment at Olympus are versatile and have many measurement features that can carry crucial testing.
MISTRAS Group is an industry leader in non-destructive testing (NDT) inspection and provides an extensive range of NDT solutions. MISTRAS offers certified technicians to implement advanced non-destructive testing (ANDT) inspection solutions and provides high accuracy, repeatability, and detailed asset integrity data.

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