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Non-Destructive Testing & Inspection Market worth $19.40 billion by 2030, growing at a CAGR of 7.65% - Exclusive Report by 360iResearch
Non-Destructive Testing & Inspection Market | 360iResearch
The Global Non-Destructive Testing & Inspection Market to grow from USD 11.58 billion in 2023 to USD 19.40 billion by 2030, at a CAGR of 7.65%.
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Non-Destructive Testing & Inspection (NDT & NDI) refers to a group of analysis techniques used in science and industry to assess the properties of a material, component, or system without causing damage. Increasing safety regulations and quality control standards are driving demand for NDT services. Rising automation in the industrial manufacturing and infrastructure sectors increases the adoption of non-destructive testing & inspection (NDT & NDI). However, the high cost associated with non-destructive testing equipment coupled with a shortage of skilled and qualified personnel for inspection services may impede the market growth. Nevertheless, technological advancements resulting in new application areas for NDT equipment and increasing deployment of the ultrasonic test method are expected to create potential opportunities for market growth.
The non-destructive testing (NDT) and inspection market is evolving in the Asia Pacific region due to its growing manufacturing sector, and the consumer need in this region revolves around ensuring product quality and reliability, especially in industries such as automotive, aerospace, and infrastructure. Furthermore, patents in advanced ultrasonic and radiographic testing techniques signify the nation's push toward innovation, further increasing the market growth. In the Americas, the demand for Non-Destructive Testing and inspection is driven by the necessity to maintain aging infrastructure and the stringent regulatory environment. Customers in North America prefer comprehensive service offerings that include equipment, training, and post-sales support. Europe, the Middle East, and Africa (EMEA) exhibit diverse market dynamics regarding NDT and inspection. The EU's advanced manufacturing base has a steady demand for updated NDT processes aligned with its stringent quality standards. The Middle East's growth is attributed to its oil and gas sector, while Africa's market is developing, with a focus on infrastructure and power generation.
Market Segmentation & Coverage:
This research report categorizes the Non-Destructive Testing & Inspection Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Solution, market is studied across Equipment and Services. The Services is further studied across Calibration Services, Equipment Rental Services, Inspection Services, and Training Services. The Services commanded largest market share of 64.06% in 2023, followed by Equipment.
Based on Method, market is studied across Surface Inspection, Visual Inspection, and Volumetric Inspection. The Surface Inspection commanded largest market share of 37.95% in 2023, followed by Visual Inspection.
Based on Technique, market is studied across Acoustic Emission Testing (AET), Eddy-Current Testing (ECT), Liquid Penetrant Testing (LPT), Magnetic Particle Testing (MPT), Near-Infrared Spectroscopy, Radiographic Testing (RT), Terahertz Imaging, Ultrasonic Testing (UT), and Visual Inspection Testing (VT). The Radiographic Testing (RT) is further studied across Computed Radiography, Direct Radiography (Real-Time), Film Radiography, Gamma-Ray Testing, and X-Ray Testing. The Ultrasonic Testing (UT) is further studied across Angle Beam Testing, Guided Wave Testing, Immersion Testing, Phased Array Testing, Straight Beam Testing, and Time-Of-Flight Diffraction (TOFD). The Visual Inspection Testing (VT) is further studied across Aided Visual Inspection and General Visual Inspection. The Ultrasonic Testing (UT) commanded largest market share of 17.98% in 2023, followed by Acoustic Emission Testing (AET).
Based on Industry, market is studied across Automotive & Transport, Chemicals & Materials, Consumer Goods & Services, Energy & Natural Resources, Food & Beverage, Government & Public Infrastructure, Healthcare, Manufacturing & Construction, Military Aerospace & Defense, Oil & Gas, Pharmaceuticals, and Telecommunications & Computing. The Manufacturing & Construction commanded largest market share of 22.11% in 2023, followed by Automotive & Transport.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.15% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Non-Destructive Testing & Inspection Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Non-Destructive Testing & Inspection Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Non-Destructive Testing & Inspection Market, highlighting leading vendors and their innovative profiles. These include Applus+, Ashtead Technology Ltd., Bureau Veritas S.A., Carl Zeiss AG, Comet Yxlon GmbH, Cygnus Instruments Ltd, DEKRA SE, Duemme S.P.A., Eddyfi Technologies, Fischer Technology Inc., FORCE Technology, Fujifilm Holdings Corporation, Geecy Apave Pvt. Ltd., General Electric Company, Hatch Ltd., Intertek Group PLC, ITIS B.V., Labquip NDT Limited, Magnaflux Corporation, MISTRAS Group, NDT Corrosion Control Services Co., Nikon Corporation, Olympus Corporation, SGS S.A., Sigma NDT Services, Sonatest Ltd., T.D. Williamson, Inc., TEAM Inc., and Zetec, Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Non-Destructive Testing & Inspection Market, by Solution
7. Non-Destructive Testing & Inspection Market, by Method
8. Non-Destructive Testing & Inspection Market, by Technique
9. Non-Destructive Testing & Inspection Market, by Industry
10. Americas Non-Destructive Testing & Inspection Market
11. Asia-Pacific Non-Destructive Testing & Inspection Market
12. Europe, Middle East & Africa Non-Destructive Testing & Inspection Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Non-Destructive Testing & Inspection Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Non-Destructive Testing & Inspection Market?
3. What is the competitive strategic window for opportunities in the Non-Destructive Testing & Inspection Market?
4. What are the technology trends and regulatory frameworks in the Non-Destructive Testing & Inspection Market?
5. What is the market share of the leading vendors in the Non-Destructive Testing & Inspection Market?
6. What modes and strategic moves are considered suitable for entering the Non-Destructive Testing & Inspection Market?
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