Press release
Explosive Growth Predicted for the Global NDT Services Market: A Detailed Analysis of the Market Size, Trends, and Key Players Involved
NDT Services Market Size
What Is The Projected Market Size Of The Global NDT Services Market And Its Growth Rate?
The NDT services market is experiencing a significant growth phase:
- Expected to escalate from $16.3 billion in 2024 to $17.99 billion in 2025 at a CAGR of 10.4%.
- Predicted to further grow to $26.12 billion in 2029 at a CAGR of 9.8%.
What Is Driving The Growth In The NDT Services Market?
The amplification in the use of renewable energy resources is a major driving force for the NDT services market's robust growth. Non-destructive testing is incorporated in the production of renewable energy sources, highlighting its imperative role in the renewable energy sector. For example, in India, the use of renewable energies spiked by 9.83% in 2022, pushing the NDT services market towards sustained growth.
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Who Are the Key Players Driving NDT Services Market Growth?
Here are the key players leading the NDT services market:
- Mistras Group Inc.
- Olympus Corporation
- Nikon Metrology NV
- TÜV Rheinland Group
- Intertek Group PLC
- TEAM Inc.
- General Electric Company
- Ashtead Technology Ltd.
- Zetec Inc.
- Yxlon international GMBH
- ALS Limited
- Applus+
- Bureau Veritas SA
- Dekra SE
- Fischer Technologies Inc.
- Previan Technologies
- SGS SA
- Det Norske Veritas
- Registro Italiano Navale
- NDT Global Limited
- NDT Kit Inc.
- NDT Systems Inc.
- Sonatest PLC
- Eddyfi Technologies Inc.
- HMT Inspection Inc.
- NDT Solutions Inc.
- Carl Zeiss Industrial Metrology GmbH
- American Bureau of Shipping
- Lloyd's Register
- NDT Services Limited
What Are The Key Trends In The NDT Services Market?
Some of the key trends are:
- Market consolidation
- Focus on asset management
- Quality assurance requirements
What Are The Segments Of The Global NDT Services Market?
The NDT services market is categorized into different segments:
- By Type: Inspection Services, Equipment Rental Services, Training Services, Calibration Services
- By Testing Technique Model: Visual Inspection, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging
- By Vertical Type: Manufacturing, Oil And Gas, Aerospace, Government Infrastructure And Public Safety, Automotive, Power Generation, Other Verticals
Which Region Leads The NDT Services Market?
North America had the largest market share in 2024. The report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The NDT Services Market Global Market Report?
- Market Size Analysis: Analyze the NDT Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the NDT Services Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall NDT Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the NDT Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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