Press release
NDT Services Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
The projected growth of the NDT services market is likely to be driven by the increased utilization of renewable energy resources. These resources, which regenerate faster than their consumption rate, are natural energy sources like wind, sunlight, etc. Non-destructive testing plays a crucial role in the production processes of such renewable energy resources, for instance, the ultrasonic testing of wind turbines. As per Invest India, the National Investment Promotion and Facilitation Agency, there was a remarkable annual growth rate of 9.83% in 2022 in terms of renewable energy additions, the highest ever recorded in India. This surge in renewable energy usage, therefore, is a key growth driver for the NDT services market.
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What Is the projected market size and growth rate for the ndt services market?
In recent times, the size of the NDT services market has seen a swift expansion. It is projected to increase from $16.3 billion in 2024 to $17.99 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.4%. Factors such as infrastructure advancement, enhancement of skills, environmental issues, and cyclical industry patterns have contributed to this growth during the historic period.
In the near future, the NDT services market size is projected to witness robust growth. It is anticipated to expand to $26.12 billion in 2029, rising at a compound annual growth rate (CAGR) of 9.8%. The growth predicted within this period is due to factors such as the expansion of the aerospace industry and renewable energy, the assurance of safety and quality, digitalization, integration of Industry 4.0, as well as cost-effective solutions. Notable trends expected during this forecast period include a consolidation of the market, emphasis on asset management, and quality assurance requirements.
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What new trends are reshaping the ndt services market and its opportunities?
The emergence of technological advancements has become a predominant trend in the NDT services market. Making innovations in new technologies is a common strategy among major companies within this market to maintain their standing. For example, ICR Integrity, an NDT services company based in the UK, launched an innovative NDT methodology, INSONO, in October 2022. The technology was designed for inspecting composite repairs on metallic components, confirming their condition and longevity. It offers operators with confidence regarding the usage and long-term performance. Furthermore, it has the ability to identify defects in the composite material and decreases in the steel substrate.
What major market segments define the scope and growth of the ndt services market?
The NDT services market covered in this report is segmented -
1) By Type: Inspection Services, Equipment Rental Services, Training Services, Calibration Services
2) By Testing Technique Model: Visual Inspection, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging
3) By Vertical Type: Manufacturing, Oil And Gas, Aerospace, Government Infrastructure And Public Safety, Automotive, Power Generation, Other Verticals
Subsegments:
1) By Inspection Services: Visual Inspection, Ultrasonic Testing, Radiographic Testing, Magnetic Particle Testing, Eddy Current Testing
2) By Equipment Rental Services: NDT Inspection Equipment Rental, Calibration Equipment Rental
3) By Training Services: NDT Certification Training, In-House Training Programs, Online Training Courses
4) By Calibration Services: Instrument Calibration, On-Site Calibration, Laboratory Calibration
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Which region dominates the ndt services market?
North America was the largest region in the NDT services market share in 2024. The regions covered in the NDT services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the ndt services industry growth?
Major companies operating in the NDT services market are 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
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What Is Covered In The NDT Services Global Market Report?
• Market Size Forecast: Examine the ndt services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ndt services market for a structured understanding.
• Key Players Overview: Analyze major players in the ndt services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ndt services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ndt services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ndt services market.
• Industry Challenges: Identify potential risks and obstacles affecting the ndt services market.
• Competitive Landscape: Review strategic developments in the ndt services market, including expansions, agreements, and new product launches.
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