Non-Destructive Testing and Inspection - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Non-Destructive Testing and Inspection Market is accounted for $8.30 billion in 2018 and is expected to reach $18.38 billion by 2027 growing at a CAGR of 9.2% during the forecast period. Stringent government regulations regarding public safety and product quality, high adoption of IoT devices and rising need to assess the health of ageing assets are the major factors driving the market growth. However, the dearth of skilled and qualified personnel for inspection services is restraining market growth.
Non-destructive testing and inspection techniques are used to test objects or products for defects or flaws and inadequacies in the components or systems, and materials, without damaging the object. Non-destructive testing and inspection are necessary to assure the reliability and safety of various products and sources.
Based on the technique, the ultrasonic testing (UT) segment is likely to have a huge demand as this testing is widely used to detect variations or flaws in the properties of materials by using high-frequency sound waves and determines the thickness and detect the depth of internal flaws of non-metallic and metallic materials. By geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the rapid infrastructural development and adoption of automation in manufacturing industries in countries such as India and China.
Some of the key players profiled in the Non-Destructive Testing and Inspection Market include NDT Global GmbH & Co. Kg, Magnaflux Corporation, Nikon Metrology Inc., Mistras Group Inc., Zetec Inc., Eddyfi NDT Inc., Td Williamson, Inc., Ashtead Technology Inc., General Electric, Sonatest Ltd., Yxlon International GmbH, Bosello High Technology Srl, Olympus Corporation, and Fischer Technology Inc.
• Visual Inspection Testing (VT)
• Liquid Penetrant Testing (LPT)
• Eddy-Current Testing (ECT)
• Magnetic Particle Testing (MPT)
• Radiographic Testing (Rt)
• Ultrasonic Testing (UT)
• Acoustic Emission Testing (AET)
• Other Techniques
• Surface Inspection
• Volumetric Inspection
• Visual Inspection
• Calibration Services
• Training Services
• Inspection Services
• Equipment Rental Services
End Users Covered:
• Oil & Gas
• Public Infrastructure
• Power Generation
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliance
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