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Non-Destructive Testing (NDT) And Inspection Market Poised to Hit $14.12 Billion by 2029 with Accelerating Growth Trends
Non-Destructive Testing (NDT) And Inspection Market
Non-Destructive Testing (NDT) And Inspection Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of non-destructive testing (NDT) and inspection has seen significant growth in the past few years. It is projected to inflate from $9.61 billion in 2024 to $10.35 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. This growth trend during the historic period can be credited to the increased use of NDT in the aerospace sector and the surge in demand for NDT techniques in the oil and gas industry.
Non-Destructive Testing (NDT) And Inspection Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the non-destructive testing (NDT) and inspection market is projected to experience substantial growth, with its market size surging to $14.12 billion by 2029 at a compound annual growth rate (CAGR) of 8.1%. This growth during the forecast period can be linked to the high rate of urbanization, increased research and development activities, along with heightened demand for NDT inspection services in the power generation sector. Key market trends projected for this period include the progression of digital radiography, a rise in ultrasonic testing (UT) innovations, the growing integration of robotics and automation, the application of infrared thermography, a focus on digital NDT coupled with data analytics, and product enhancements.
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What Are the Drivers Transforming the Non-Destructive Testing (NDT) And Inspection Market?
The proliferation of industrialization and urbanization worldwide is set to fuel the expansion of the NDT and inspection market in the near future. As per the UN Trade and Development, there was a surge in the global urban population by 56.9 billion in 2022. Fast-growing manufacturing sectors, inclusive of the aerospace industry, are pouring investments into NDT and inspection services for routine quality checks, identifying infrastructure failures, and more. Likewise, corporations are partnering with NDT service providers to offer training to uphold production efficiency through top-notch training and education. For example, EU's industrial production experienced a growth of 5% in 2022 compared to the previous year, as reported by Eurostat, a government agency based in Luxembourg in July 2023. Also, steel demand is predicted to rise by 0.4% in 2022, hitting 1,840.2 Mt, and is expected to see another upswing of 2.2% in 2023, reaching 1,881.4 Mt. Hence, the swift rise in industrialization and urbanization around the world is driving the expansion of the NDT and inspection market.
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What Long-Term Trends Will Define the Future of the Non-Destructive Testing (NDT) And Inspection Market?
The progression of technology is a significant trend influencing the NDT and inspection market. Big corporations engaged in NDT and inspection are keenly working on crafting technological resolutions to reinforce their standing. A case in point is VCxray Inspection Service, a non-destructive testing (NDT) subsidiary of VisiConsult, an expert in industrial X-ray technology, which unveiled x.OS in April 2022. This X-ray operating system is utilized for non-destructive testing and stands as a pioneering software solution for industrial X-ray inspection.
Which Segments in the Non-Destructive Testing (NDT) And Inspection Market Offer the Most Profit Potential?
The non-destructive testing (NDT) and inspection market covered in this report is segmented -
1) By Technique: Magnetic Particle Testing, Ultrasonic Testing, Visual Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, Acoustic Emission Testing, Other Techniques
2) By Method: Visual Inspection, Surface Inspection, Volumetric Inspection, Other Methods
3) By Vertical: Manufacturing, Oil and Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, Other Verticals
Subsegments:
1) By Magnetic Particle Testing (MPT): Surface And Subsurface Defects Detection, Magnetic Field Generation Methods (Permanent, Electromagnetic), Application Areas (Metal Components, Welds)
2) By Ultrasonic Testing (UT): Pulse-Echo Method, Through-Transmission Method, Thickness Gauging, Flaw Detection In Materials
3) By Visual Testing (VT): Direct Visual Inspection (DVI), Remote Visual Inspection (RVI), Use Of Optical Instruments (Borescopes, Endoscopes)
4) By Liquid Penetrant Testing (LPT): Fluorescent Vs. Visible Dye Penetrants, Surface Preparation Techniques, Post-Application Inspection Methods
5) By Eddy-Current Testing (ECT): Conductivity And Coating Thickness Measurement, Detection Of Surface And Near-Surface Defects, Applications In Aerospace And Manufacturing
6) By Radiographic Testing (RT): X-ray Vs. Gamma-ray Techniques, Film And Digital Radiography, Applications In Welding And Casting Inspection
7) By Acoustic Emission Testing (AET): Monitoring Of Active Defects In Structures, High-Frequency Signal Detection, Applications In Pressure Vessels And Tanks
8) By Other Techniques: Thermography (Infrared Testing), Laser Testing, Fiber Optic Testing, Microwave Testing
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Which Firms Dominate the Non-Destructive Testing (NDT) And Inspection Market by Market Share and Revenue in 2025?
Major companies operating in the non-destructive testing (NDT) and inspection market include SGS Group, TEAM Inc., Applus Services, Baker Hughes Company, Mistras Group Inc., Acuren Inspection Inc., Intertek Group Plc., Bureau Veritas S.A., Yxlon International Gmbh, MME Group, Arora Technologies (P) Limited, Fischer Measurement Technologies (India) Pvt. Ltd., General Electric Company, Nikon Corporation, Olympus Corporation, Magnetec Inspections Inc., Hojin Industrial Co. Ltd., Dan Dong Hua Ri Science Electric Co Ltd., CGN Nuclear Technology Development Co. Ltd., TWI Ltd., Ashtead Technology, Eddyfi UK Limited, TSC Subsea Limited, Sonatest Ltd., Energodiagnostika Co. Ltd, Magnaflux Corp, Scanna MSC, Fprimec Solutions Inc ., Applied Technical Services, TCR Arabia Company, NDT Corrosion Control Services Co., HQTS Group, Sigma Specialized Inspection Co LLC, Sonatest, Ashtead Technology, Zeiss
Which Regions Offer the Highest Growth Potential in the Non-Destructive Testing (NDT) And Inspection Market?
North America was the largest region in the NDT and inspection market in 2024. The regions covered in the non-destructive testing (NDT) and inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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