Global Non-Destructive Testing and Inspection Market
lobal Non-Destructive Testing and Inspection Market
By Method (Surface Inspection, Volumetric Inspection, Visual Inspection), Service (Training Services, Calibration Services, Inspection Services, Equipment Rental Services), Technique (Radiographic Testing, Liquid Penetrant Testing, Eddy Current Testing, Acoustic Emission, Testing Visual Testing, Magnetic Particle Testing, Ultrasonic Testing), Vertical, and Regional Market Size, Status and Forecast to 2025
The Global Non-Destructive Testing and Inspection Market was valued at USD 7.23 billion in 2016 and is projected to reach USD 10.76 billion by 2025, growing at a CAGR of 7.62% from 2017 to 2025.
Non-destructive testing (NDT) and Inspection is the process of testing, evaluating materials, components for differences in characteristics without destroying the serviceability of the system. NDT can be performed during or after manufacture, or even on equipment that is in service. Benefits of non-destructive testing and inspection system include - increased product reliability, identify areas of concern before failure, comprehensive testing, accident prevention, less downtime and less waste.
1. Market Drivers
1.1 Growing demand for NDT inspection services for power generation
1.2 Technological advancements creating new application areas for NDT
1.3 Rising demand for NDT inspection services for the aging infrastructure to tackle with corrosion issues
1.4 Increasing adoption of IoT solutions
1.5 Stringent Government Regulations Pertaining to Safety and Product Quality
2. Market Restraints
2.1 Reduction in Crude Oil Prices
2.2 Increasing complexities with data synchronization
2.3 Reluctance to Adopt New NDT Techniques
2.4 High Cost of Automated NDT Equipment
2.5 Lack of technical expertise
The Global Non-Destructive Testing and Inspection Market is segmented on the method, service, technique, vertical, and region.
1.1 Surface Inspection
1.2 Volumetric Inspection
1.3 Visual Inspection
2. By Service:
2.1 Training Services
2.2 Calibration Services
2.3 Inspection Services
2.4 Equipment Rental Services
3. By Technique:
3.1 Radiographic Testing
3.2 Liquid Penetrant Testing
3.3 Eddy Current Testing,
3.4 Testing Visual Testing
3.5 Magnetic Particle Testing
3.6 Ultrasonic Testing
4. By Vertical:
4.2 Oil and Gas
4.4 Power Generation
4.6 Public Infrastructure
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Olympus Corporation
2. Mistras Group Inc.
3. General Electric
4. Ashtead Technology Inc.
5. Bosello High Technology Srl
6. Magnaflux Corporation
7. Nikon Metrology Inc.
8. Zetec Inc.
9. Td Williamson, Inc.
10. NDT Global GmbH & Co. Kg
11. Sonatest Ltd.
12. Yxlon International GmbH
13. Fischer Technology Inc.
14. Eddyfi NDT Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Non-Destructive Testing and Inspection Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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