According to Future Market Insights, the global non-destructive testing (NDT) inspection services market will be worth US$ 28 billion by 2030.
The market is soaring as governments around the world increase their infrastructure investments. As cities grow in size, so does the demand for houses, trains, highways, and airports. Because of their widespread use, these infrastructures require ongoing maintenance and upgrading to ensure their safety. Defect and component failure detection aids in the prevention of major accidents and the implementation of preventative measures.
Significant technical breakthroughs in healthcare and pharmaceuticals have recently increased the use of NDT inspection services to prevent product recalls and assure patient safety. Because of the large number of patients hospitalised to hospitals for treatment during the coronavirus pandemic, its use has increased significantly.
Based on these widespread application, the market is anticipated to enjoy an impressive growth rate in the coming years.
“Emerging economies such as China & India shall generate immense growth opportunities for NDT inspection service providers, attributed to burgeoning medical tourism and infrastructure development,” says an FMI analyst.
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Key Takeaways from FMI’s NDT Inspection Services Market Study
- Ultrasonic testing shall occupy the highest seat in the global NDT inspection services market
- The oil & gas industry extensively employs NDT inspection services to assess the degree of pipe faults to avoid spillage, leaks and accidents
- Nuclear power generation emerges as a fertile ground for NDT inspection services market proliferation
- Global NDT inspection services market to surge at over 6% CAGR from 2020-2030
NDT Inspection Services Market- Key Trends
- Rail transportation shall services will employ a significant amount of NDT inspection services, attributed to increasing number of fatalities due to accidents
- Growing demand for light-weight and flexible materials for attaining fuel efficiency spurs usage across the aerospace industry
- Reserve engineering and preservation are the cornerstones of NDT service inspection services market proliferation
NDT Inspection Services Market- Region-wise Analysis
- Europe to pivot the market in the railroad segment due to rising incidence of fatalities and accidents
- Growing investments in the hydrocarbon sector to push up demand in North America
- Mushrooming healthcare and construction industries will generate immense growth opportunities in the Indian and Chinese markets
NDT Inspection Services Market- Competitive Landscape
Prominent market players in the NDT inspection services market are: Olympus Corporation, Sonatest Ltd, Nikon Metrology NV, Duemme SpA, Mistras Group, Industrial Radiographic Inspection Co., National Technical Systems, Inc., and Bureau Veritas to name a few.
These players concentrate on offering innovative products and technological solutions to expand their customer outreach. For instance, Nikon Metrology NV offers the MCT225 Metrology-CT Scanner for inside geometry, with an absolute accuracy of 9 + L/50 micrometers.
Collaborations are also helping market players expand their global outreach. For instance, in June 2020, Sonatest Ltd has announced an expansion of its partnership with MelcoNDT across Southeast Asia, especially across Thailand and Indonesia.
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NDT Services Market Taxonomy
Offering Type
- Non-destructive Testing Services
- Non-destructive Testing Equipment
Test Method
- Visual Testing
- Magnetic Particle Testing
- Liquid Penetrant Testing
- Eddy Current Testing
- Ultrasonic Testing
- Radiographic Testing
Industry Vertical
- Oil & Gas
- Manufacturing
- Aerospace and Defense
- Construction
- Automotive
- Power Generation
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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Table of Content
- Executive Summary
1.1. Market Outlook
1.2. Market Approach
1.3. Key Technological Trends and Strategies in the Market
- Market Overview
2.1. Definition
2.2. Segmentation
2.3. Sentiment and Demand: Flow Chart
- Market Background
3.1. Key Market Trends
3.2. Macro-Economic Factors
3.3. Market Dynamics
3.4. Value Chain Analysis
- COVID-19 Impact Analysis
4.1. Business Impact of COVID-19 on Adoption
4.2. Pre-COVID-19 and Post-COVID-19 Market Growth Analysis
4.3. Key Strategies Incorporated by Market Players
- Global NDT Inspection Services Market Analysis (2015 – 2019) and Forecast (2020 – 2030) – Introduction
5.1. Historical Market Value (US$ Mn) Analysis, 2015 – 2019
5.2. Current and Future Market Value (US$ Mn) Projections, 2020 – 2030
5.3. Average Pricing Analysis
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