Press release
Non-Destructive Testing Market valued at USD14.81 Bn. in 2021, is expected to witness significant growth, reaching USD 24.70 Bn. by 2029, at a CAGR of 6.6% during the forecast period.
Non-Destructive Testing Market
The report provides a comprehensive analysis of the Non-Destructive Testing market, including historical data from 2017 to 2021 and forecasts for the period from 2022 to 2029. It covers market segments based on offering (services and equipment), test methods (visual testing, magnetic particle testing, liquid penetrant testing, eddy current testing, ultrasonic testing, and radiographic testing), and verticals (oil & gas, manufacturing, aerospace and defense, construction, automotive, power generation, and others). Additionally, the report offers regional insights into the North America, Europe, Asia Pacific, Middle East and Africa, and South America markets.
The report's findings are based on a thorough research methodology, combining primary and secondary sources, to present a clear and comprehensive view of the industry. Various factors, including Porter's Five Forces and PESTEL analysis, are considered to analyze the market's external and internal factors, providing insights to decision-makers.
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What are Non-Destructive Testing Market Dynamics:
The market is fueled by the increasing industrialization in both developing and developed countries. Technological advancements have led to improved NDT procedures, enhancing fault detection and safety. As manufacturers recognize the benefits of NDT techniques, the market penetration of NDT is expected to grow. Non-destructive testing aids in accurate defect detection, reducing the risk of product/component failure and associated repair costs, thus speeding up the manufacturing process.
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Non-Destructive Testing Market Regional Insights:
In 2021, North America dominated the NDT market, accounting for the largest market share of 34%. The region's growth is attributed to the widespread adoption of NDT techniques across various applications and the presence of a skilled workforce. Power generation from shale oil in the United States and Canada further boosts the region's market growth.
The Asia Pacific market is expected to witness significant growth over the forecast period, with a CAGR of more than 8.0%. This growth is driven by increased manufacturing, building, and power generation activities in the region. Although there is currently a skilled labor shortage, it is expected to improve as awareness and adoption of NDT techniques increase.
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What is Non-Destructive Testing Market Segmentation:
by Offering
• Services
• Equipment
by Test Method
• Visual Testing
• Magnetic Particle Testing
• Liquid Penetrant Testing
• Eddy Current Testing
• Ultrasonic Testing
• Radiographic Testing
by Verticals
• Oil & Gas
• Manufacturing
• Aerospace and Defense
• Construction
• Automotive
• Power Generation
• Others
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Who are Non-Destructive Testing Market Key Players:
• Mistras Group Inc.
• Olympus Corporation
• GE Measurement & Control Solutions
• Nikon Corporations
• Ashtead Technology
• Magnaflux Corporation
• Zetec Inc.
• Sonatest Ltd.
• Sonotron NDT
• Bosello High Technology SRL
• Fischer Technology, Inc.
• Eddyfi
• JSR Ultrasonics
• Source Production & Equipment Co., Inc.
• Airstar Inc.
• AMDATA Products (WesDyne)
• Applus RTD
• AT-Automation Technolo.
• BALTEAU NDT
• Canadian Institute for NDE
• Controle Mesure Systemes
• Cygnus Instruments Ltd.
Table of content for the Non-Destructive Testing Market includes:
Global Non-Destructive Testing Market: Research Methodology
Global Non-Destructive Testing Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Non-Destructive Testing Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Non-Destructive Testing Market Segmentation
Global Market, by Offering (2022-2029)
Global Market, by Test Method (2022-2029)
Global Market, by Verticals (2022-2029)
Regional Non-Destructive Testing Market (2021-2029)
Regional Market, by Offering (2022-2029)
Regional Market, by Test Method (2022-2029)
Regional Market, by Verticals (2022-2029)
Regional Market, by Country (2022-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Offering , Test Method and Verticals
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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