“iSay Research has published a new report titled Global Non-Destructive Testing Market share, forecast data, In-Depth Analysis, and Forecast, 2022”. According to the report, Global Non-Destructive Testing Market in 2022 stood at USD 10.30 billion and is expected to reach USD 26.96 billion by 2032 growing at a CAGR of 10.1% from 2023 to 2032.
The non-destructive test solutions are generally a technique utilized to test objects for flaws and inadequacies in the materials, components or system, without causing damages to it. Non-destructive testing mainly provides cost-effective means of testing while protecting the object’s usability for its designed purpose. Also, the technique can be applied on a sampling basis for individual investigation or may be utilized for 100% checking of material in a production quality control system. Moreover, non-destructive test assures the reliability by avoiding the loss of over-sightedness and is predictable to help in elevating the efficiency of the manufacturing institutions.
Global Non-Destructive Testing Market: Key Players
The research study includes profiles of leading companies operating in the global non-destructive testing market. Key players profiled in the report include: Mistras Group Inc., Olympus Corporation, GE Measurement & Control Solutions, Nikon Corporations, Ashtead Technology, Magnaflux Corporation, Zetec Inc., Sonatest Ltd., Sonotron NDT, Bosello High Technology SRL, Fischer Technology, Inc. and Eddyfi.
Drivers for the Global Non-Destructive Testing Market:
According to current market situation, the major drivers for the non-contact equipment market involve strong government regulations, user friendly software’s, continuous advancement in electronics, automation, and robotics, and assured return on investment. Also, the increase in manufacturing activities amongst the developing as well as the developed nations is estimated to drive the non-destructive testing market over the forecast period.
Opportunities for the Global Non-Destructive Testing Market:
There is a lot of opportunity for existing players as well as for new entrants to innovate and differentiate the products in price and design. The infrastructure sector is rapidly growing all over the globe, especially in BRIC. This creates an opportunity for the automation provider companies in the NDT market. Moreover, increasing advancements in electronics products, coupled with increasing penetration of robotics in automation of various industries is resulting into high demand for non-destructive testing and inspection.
Restrains for the Global Non-Destructive Testing Market:
However, increasing reluctant to adopt new non-destructive testing techniques owing to high price and increasing integration complexity of machines and structures are among some major factors expected to hamper growth of the global market to a certain extent.
Region Wise, Global Non-Destructive Testing Market Analysis:
On the basis of region, global non-destructive testing market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Geographically, North America dominated the Non-destructive testing market. This is attributed to the adoption of non-destructive testing techniques across numerous applications, availability of skilled workforce, and the number of non-destructive testing training institutes in the region. Furthermore, power generation using shale oil in the U.S. and Canada is expected to positively impact the growth rate in the region. North America region is followed by Asia pacific and Europe.
Covid-19: Impact and Recovery Analysis for Global Non-Destructive Testing Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: non-destructive testing market globally. Most of the industries and businesses like: non-destructive testing market is shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. covid-19 can affect the global economy in three main ways that are by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The overall effect of the pandemic is impacting the production process of several industries, and many more. Trade barriers are further restraining the demand supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall non-destructive testing market globally.
Global Non-Destructive Testing Market: Product analysis
- Visual Testing
- Magnetic Particle Testing
- Liquid Penetrant Testing
- Eddy Current Testing
- Ultrasonic Testing
- Radiographic Testing
Global Non-Destructive Testing Market: Application analysis
- Oil & Gas
- Aerospace and Defense
- Power Generation
Global Non-Destructive Testing Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
|Market Size in 2023
|USD 10.30 Billion
|Market Forecast in 2032
|USD 26.96 Billion
|Compound Annual Growth Rate (CAGR)
|Revenue (USD Million) and Volume (Kilo Tons)
|By Product Type, By Application, By Region
|By Product Type
|2018 - 2022
|2023 - 2032
Pivotal Fundamentals of the Global Non-Destructive Testing Market Report:
- Holistic in-depth detailed analysis, regarding the parent market.
- Detailed information about the current R&D activities performed by each global non-destructive testing market player.
- Region-wise and country-wise breakdown of the global non-destructive testing market to get the revenue, and growth lookout in these areas.
- Key factors which are influencing the consumption pattern of consumers across various regions and countries.
- Historical and future progress of the global non-destructive testing market.
- Year-on-year growth of the global non-destructive testing market in terms of value and volume.
At last report covers a short outline of the dealers, distributors, and suppliers. Additionally, it provides sales channel, analysis findings and results. It spots some new entrants within the market. The study thus, suggests a brand-new proposition to embellish global non-destructive testing market and nurture business as it explains current global market as well as future market.