Get Ready to Grow Your Business by Tapping into the US$8.9 billion Opportunity for Non-Destructive Testing (NDT) Services
The global market for Non-Destructive Testing (NDT) Services is projected to reach US$8.9 billion by 2025, driven by the growing importance shed on material inspection against the backdrop of strong focus shed on quality assurance of structural and mechanical components operating in demanding application environments.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Non-Destructive Testing (NDT) Services market. The segments covered in the study include End-Use (Manufacturing, Oil & Gas, Aerospace, Government Infrastructure and Public Safety, Automotive, Power Generation, Other End-Uses); Service (Inspection Services, Equipment Rental Services, Training Services, Calibration Services); and Technique (Visual Inspection Testing (VT), Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy Current Testing (ECT), Ultrasonic Testing (UT), Radiographic Testing (RT), Acoustic Emission Testing (AET), Terahertz Imaging (THZ Imaging)).
7 June 5:17 A.M., California/Marketwire/ - According to the new market research report, the global market for Non-Destructive Testing (NDT) Services is projected to reach US$8.9 billion by 2025, driven by the growing importance shed on material inspection against the backdrop of strong focus shed on quality assurance of structural and mechanical components operating in demanding application environments. The market will receive a setback in the year 2020 amid ongoing COVID-19 crisis and will be reset to a new normal which going forwards in a post crisis era will be continuously redefined and redesigned.
In post COVID-19 environment, the gains for NDT testing market would be largely determined by the level of demand revival across major end-use verticals including automotive, aerospace, oil & gas, manufacturing, power generation, and government infrastructure & public safety. In most of these verticals, NDT testing has established and widespread use. NDT is used widely in civil engineering for testing concrete structures; oil & gas and mining industry for monitoring integrity of assets non-intrusively; semiconductor industry for wafer testing; nuclear power plants for continuous inspection of critical parts and components of nuclear reactors; and pipeline and piping system inspection, among others. In addition to stringent safety regulations and quality standards, other factors that potentially drive the future demand for NDT include aging infrastructure worldwide which emphasizes the relevance of structural health monitoring (SHM) of bridges, tunnels etc. for signs of wear & tear, fatigue, corrosion, and stress; and growing manufacturing competitiveness and the ensuing focus on asset integrity and quality of manufactured products.
Stringent and often punitive safety regulations being legislated in most countries worldwide elevate the compliance burden on enterprises, especially in oil & gas, mining, utilities, and nuclear power sectors, while spurring the potential demand for NDT testing. A key trend would be the intensified commercial opportunity for automated NDT equipment integrated with sensors and industrial robotics, and drone-based testing that innovatively and substantially improve testing productivity.
Key Competitors Covered in the Report
Bureau Veritas SA
Intertek Group Plc
MISTRAS Group, Inc.
Nikon Metrology NV
TUV Rheinland AG
YXLON International GmbH
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 462. Among this pool, 92 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 18 unique participations, a total of 8 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.