Leading Element Driving Change in the Non-Destructive Inspection Equipment Market in 2025: Growing Oil And Gas Industries On Non-Destructive Inspection Equipment Market Growth Driver

Which drivers are expected to have the greatest impact on the over the non-destructive inspection equipment market's growth?
The growth of the non-destructive inspection equipment market is predicted to be fueled by the thriving oil and gas sector. The essential role of the oil and gas industry in activities like fuelling transportation, generating electricity, heating, and providing raw materials for different sectors including automotive, aviation, machinery and more, contributes to its growth. The non-destructive inspection equipment plays a pivotal part in this industry as it identifies defects without causing damage, ensuring the safety and integrity of equipment and infrastructure which in turn helps in avoiding accidents and pricey downtime periods. Citing the U.S. Energy Information Administration, a government agency in the US, the production of U.S. crude oil in November 2023 hit 13,308 thousand barrels per day, an increase from 12,376 thousand barrels per day in November 2022. In a similar trend, U.S. natural gas gross withdrawals escalated to 128,064 million cubic feet per day in November 2023, up from 123,740 million cubic feet per day in the same month of 2022. It's clear, then, that the advancing oil and gas industry is a significant factor in the expansion of the non-destructive inspection equipment market.

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What is the future CAGR of the non-destructive inspection equipment market, and how will it impact industry expansion?
Over recent years, the market size for non-destructive inspection equipment has witnessed significant growth. Forecasts predict that the market will expand from $2.91 billion in 2024 to $3.14 billion in 2025 - a compound annual growth rate (CAGR) of 7.9%. The upward trend in the past can be attributed to the growth in demand for such equipment in the aerospace and defense sectors, surge in demand for NDT methods in the oil, gas, and power sectors, a rise in appetite for progressive material testing, growth in government spending in the oil and natural gas sectors, and a heightened focus on safety protocols and quality control.

A considerable expansion is projected for the non-destructive inspection equipment market in the coming years, with its value predicted to reach $4.02 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.4%. Various factors prompting this growth encompass an increased emphasis on safety and dependability, escalating usage of traditional non-destructive testing (NDT) techniques, a heightened consciousness about improving operational effectiveness, an enlarging rig fleet, and the rapid growth of the renewable energy sector. The predicted trend for this period includes the incorporation of cutting-edge imaging technologies, the rise of robotics and automation, implementation of artificial intelligence (AI) and machine learning (ML), the evolution and usage of mobile and handheld NDI devices, the shift towards digitalization and connectivity, and a focus on ecology and energy efficiency.

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What are the most significant trends transforming the non-destructive inspection equipment market today?
In the non-destructive inspection equipment market, leading companies are striving to maintain their prominence by innovating advanced inspection products, such as ultrasonic inspection device. This device, a category of non-destructive testing (NDT) equipment, leverages high-frequency sound waves to determine the propriety, quality and attributes of materials. As an illustration, Baker Hughes, an energy technology enterprise based in the US, released krautkrämer rotoarray in August 2023, through its subsidiary Waygate Technologies LP, a company offering industrial inspection solutions. The rotoarray is a phased array ultrasonic inspection system designed to perform high-speed full-body tube testing using rotating ultrasonic probes explicitly for seamless and electrical resistance welded (ERW) tubes. This groundbreaking solution offers accurate and efficient inspection possibilities for various industrial use cases, ensuring the quality, safety, and dependability of the product. The equipment is specifically configured for extensive inspection of composite material and features enhanced roller probes for superior connectivity and transportability.

Which key market segments comprise the non-destructive inspection equipment market and drive its revenue growth?
The non-destructive inspection equipment market covered in this report is segmented -

1) By Technology: Radiography Testing Equipment, Ultrasonic Testing Equipment, Magnetic Particle Testing Equipment, Liquid Penetrant Testing Equipment, Visual Inspection Equipment, Eddy Current Equipment
2) By Method: Visual Inspection, Surface Inspection, Volumetric Inspection
3) By Application: Flaw Detection, Dimensional Measurement, Chemical Composition Determination, Stress And Structure Analysis, Physical Properties Estimation, Leak Detection, Weld Verification, Other Applications
4) By Vertical: Manufacturing, Oil And Gas, Power Generation, Aerospace, Automotive, Public Infrastructure, Other Verticals

Subsegments:
1) By Radiography Testing Equipment: X-Ray Inspection Equipment, Gamma-Ray Inspection Equipment
2) By Ultrasonic Testing Equipment: Digital Ultrasonic Testing Equipment, Phased Array Ultrasonic Testing (PAUT) Equipment, Time-Of-Flight Diffraction (TOFD) Equipment
3) By Magnetic Particle Testing Equipment: Portable Magnetic Particle Testing Equipment, Fixed Magnetic Particle Testing Equipment
4) By Liquid Penetrant Testing Equipment: Water-Based Penetrant Testing Equipment, Oil-Based Penetrant Testing Equipment
5) By Visual Inspection Equipment: Borescopes And Endoscopes, Visual Inspection Cameras, Digital And Video Inspection Systems
6) By Eddy Current Equipment: Portable Eddy Current Testing Equipment, Eddy Current Flaw Detectors, Eddy Current Probes And Sensors

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What regions are at the forefront of non-destructive inspection equipment market expansion?
North America was the largest region in the non-destructive inspection equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-destructive inspection equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the non-destructive inspection equipment market?
Major companies operating in the non-destructive inspection equipment market are Hitachi Ltd., TESCO Corporation, Siemens AG, Mitsubishi Heavy Industries Ltd., Baker Hughes Company, Illinois Tool Works Inc., Carl Zeiss AG, Olympus Corporation, Ametek Inc., Hexagon AB, Nikon Corporation, Mettler-Toledo International Inc., Mistras Group Inc., Comet Holding AG, FARO Technologies, Eddyfi Technologies, Zetec Inc., Sonatest Ltd., Ritec Inc., Echo Ultrasonics LLC, Dolphitech AS, OKOndt Group, Fischer Technologies Inc., Danatronics Corporation, Promag Technologies Development Limited

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What Is Covered In The Non-Destructive Inspection Equipment Global Market Report?

•Market Size Forecast: Examine the non-destructive inspection equipment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the non-destructive inspection equipment market for a structured understanding.
•Key Players Overview: Analyze major players in the non-destructive inspection equipment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the non-destructive inspection equipment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the non-destructive inspection equipment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the non-destructive inspection equipment market.
•Industry Challenges: Identify potential risks and obstacles affecting the non-destructive inspection equipment market.
•Competitive Landscape: Review strategic developments in the non-destructive inspection equipment market, including expansions, agreements, and new product launches.

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