Press release
Non-Destructive Testing Market Projected to Reach $31.9 Billion by 2034: TMR Analysis
Non-Destructive Testing Market
The increase in demand for inspection and health monitoring of concrete and steel structures is a primary driver behind this growth. Non-destructive testing techniques play a crucial role in evaluating the integrity, properties, and composition of materials without compromising their future usability. This aspect is vital for industries seeking to maintain safety and reliability in their products and infrastructure.
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Market Overview: Non-destructive testing encompasses various techniques, including visual testing, magnetic particle inspection, liquid penetrant testing, radiographic testing, ultrasonic testing (UT), and eddy current testing. These methods are employed across a spectrum of industries, including aerospace, automotive, power generation, petrochemical, and heavy machinery. The versatility of NDT ensures it meets the rigorous quality standards demanded by these sectors.
Key Market Drivers
1. Surge in Development of New Products:
Innovative NDT technologies, such as Computed Tomography (CT) and phased array ultrasonic testing, are enhancing the ability to detect hidden defects. The introduction of portable solutions like the Krautkrämer RotoArray comPAct by Waygate Technologies exemplifies this trend. This portable roller probe for manual phased array ultrasonic inspection simplifies the process and improves efficiency.
2. Increasing Demand for Structural Health Monitoring:
With aging infrastructure and the need for continuous maintenance, the demand for NDT services is rising, especially in developed regions like North America and Western Europe. Regular inspections help in extending the operational life of critical structures, minimizing the need for costly replacements.
Regional Insights
The Asia Pacific region led the global non-destructive testing market (Markt für zerstörungsfreie Prüfungen (NDT)) in 2023, driven by rapid industrialization and infrastructure development. Countries in this region are increasingly prioritizing advanced NDT solutions to enhance safety and quality. Following Asia Pacific, North America holds the second-largest market share, propelled by stringent regulatory standards and a growing focus on preventive maintenance.
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Competitive Landscape
Key players in the non-destructive testing market are committed to innovation and the development of advanced NDT tools. Major companies include:
• Shimadzu Corporation
• Evident
• Baker Hughes Company
• FUJIFILM Holdings Corporation
• Mistras Group
• Zetec, Inc.
• Ashtead Technology
• Nikon Corporation
• Eddyfi Technologies Inc.
• Sonatest
• Bureau Veritas
• Intertek Group plc
These companies are strategically positioned to leverage technological advancements, ensuring they remain at the forefront of the NDT industry.
Recent Developments
Notable advancements in the industry include:
• March 2022: VCxray introduced a comprehensive x-ray operating system, x.OS, during the Control exhibition in Stuttgart, Germany, enhancing the capabilities of NDT solutions.
• November 2021: Acuren's acquisition of Premium Inspection and Testing Group aims to broaden service capabilities while retaining key personnel.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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