Non-Destructive Inspection Equipment Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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How Large Will the Non-Destructive Inspection Equipment Market Size By 2025?
The market size for non-destructive inspection equipment has shown robust growth in the recent past. This is projected to increase from $2.91 billion in 2024 to $3.14 billion in 2025, marking a compound annual growth rate (CAGR) of 7.9%. The growth during the historic period is associated with a rising demand for such equipment in the aerospace and defense sectors, along with an upsurge in use of NDT methods in industries like oil, gas and power. Other contributing factors include growing need for advanced material testing, increased government funding in oil and natural gas, and a heightened emphasis on safety requirements and quality control.

How Big Is the Non-Destructive Inspection Equipment Market Size Expected to Grow by 2029?
The market for non-destructive inspection equipment is anticipated to witness significant expansion in the coming years, with the predicted value reaching $4.02 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 6.4%. This growth can be attributed to an increasing emphasis on safety and reliability, the widespread use of traditional non-destructive testing (NDT) approaches, heightened awareness on improving operational efficiency, an expanding rig fleet, and substantial growth in the renewable energy sector. The expected trends during the forecast period include the implementation of cutting-edge imaging technologies, expansion of robotics and automation, application of artificial intelligence (AI) and machine learning (ML), invention and usage of portable, handheld NDI devices, digitization and interconnectivity, with a concentrated focus on environmental and energy efficiency.

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Which Key Market Drivers Powering Non-Destructive Inspection Equipment Market Expansion and Growth?
The non-destructive inspection equipment market is predicted to experience significant growth due to the expanding oil and gas industry. This expansion is driven by the vital function of the oil and gas industry in various sectors such as transportation, power generation, heating, and supplying raw materials for other industries including aviation, automotive, and machinery. The crucial role of non-destructive inspection equipment in this industry cannot be overstressed as it supports the maintenance of equipment and infrastructure safety by discovering defects without causing damage, hence thwarting accidents and expensive downtime. To exemplify, the U.S. Energy Information Administration, an agency of the US government, reported that U.S. crude oil output spiked at 13,308 thousand barrels daily in November 2023 from 12,376 thousand barrels daily in the same month in 2022. Similar increases were noted in the U.S. natural gas gross withdrawals with 128,064 million cubic feet per day in November 2023, a rise from 123,740 million cubic feet per day in November of the previous year. Thus, the expanding oil and gas industry is propelling the surge of the non-destructive inspection equipment market.

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Which Fast-Growing Trends Are Poised to Disrupt the Non-Destructive Inspection Equipment Market?
Leading firms in the non-destructive inspection equipment market are striving to maintain their market standing by producing cutting-edge inspection tools such as ultrasonic inspection devices. These devices belong to the category of non-destructive testing (NDT) equipment that leverages high-frequency sound waves to gauge the quality, integrity, and attributes of various materials. For instance, Baker Hughes Company, an energy technology organization based in the US, introduced krautkrämer rotoarray in August 2023 through its branch, Waygate Technologies LP, a subsidiary of Baker Hughes that specializes in industrial inspection solutions. The rotoarray is a phased array ultrasonic inspection device that offers rapid comprehensive tube testing using rotating ultrasonic probes for both seamless and ERW tubes. This creative solution offers efficient and precise inspection abilities for diverse industrial uses, thereby ensuring the quality, safety, and dependability of products. The device is intended for large-scale composite material inspection and comes with enhanced roller probes to boost connectivity and portability.

What Are the Emerging Segments in the Non-Destructive Inspection Equipment Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Non-Destructive Inspection Equipment Industry?
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.

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