Overview and Scope
NDT refers to a variety of inspection techniques that permit inspectors to
assess and gather information about a material, system, or component without
causing any long-term changes to it. These are used to examine the
characteristics of a material, component, structure, or system without
affecting the original part in order to look for typical variations or welding
faults and discontinuities.
Sizing and Forecast
The ndt services market size has grown rapidly in recent years. It will grow
from $14.84 billion in 2023 to $16.38 billion in 2024 at a compound annual
growth rate (CAGR) of 10.3%. The growth in the historic period can be
attributed to infrastructure development, skills development, environmental
concerns, cyclical industry trends..
The ndt services market size is expected to see strong growth in the next few
years. It will grow to $23.75 billion in 2028 at a compound annual growth rate
(CAGR) of 9.7%. The growth in the
forecast period can be attributed to aerospace industry growth, renewable
energy expansion, safety and quality assurance, digitalization and industry 4.0
integration, cost-effective solutions.. Major trends in the forecast period
include market consolidation, focus on asset management, quality assurance
requirements..
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Segmentation & Regional Insights
The ndt services market covered in this report is segmented –
1) By Type: Inspection Services, Equipment Rental Services, Training Services,
Calibration Services
2) By Testing Technique Model: Visual Inspection, Magnetic Particle, Liquid
Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz
Imaging
3) By Vertical Type: Manufacturing, Oil and Gas, Aerospace, Government
Infrastructure and Public Safety, Automotive, Power Generation, Other Verticals
North America was the largest region in the NDT services market share in 2023.
The regions covered in the ndt services market report are Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in the use of renewable energy resources is expected to propel the
growth of the NDT services market going forward. Renewable energy refers to the
energy that comes from natural sources that regenerate themselves more quickly
than they are used up. Non-destructive testing is used in the production of
renewable energy sources, such as the testing of wind turbines using ultrasonic
waves. For instance, in 2022, according to a Invest India, the National
Investment Promotion and Facilitation Agency, India saw the highest
year-on-year growth in renewable energy additions of 9.83% in 2022. Therefore, an increase in the use of
renewable energy resources is driving the growth of the NDT services market.
Key Industry Players
Major companies operating in the ndt services market report are Mistras Group
Inc., Olympus Corporation, Nikon Metrology NV, TÜV Rheinland Group, Intertek
Group plc, TEAM Inc., General Electric Company, Ashtead Technology Ltd., Zetec
Inc., Yxlon international GMBH, ALS Limited, Applus+, Bureau Veritas SA, Dekra
SE, Fischer Technologies Inc., Previan Technologies, SGS SA, Det Norske
Veritas, Registro Italiano Navale, NDT Global Limited, NDT Kit Inc., NDT
Systems Inc., Sonatest plc, Eddyfi Technologies Inc., HMT Inspection Inc., NDT
Solutions Inc., Carl Zeiss Industrial Metrology GmbH, American Bureau of
Shipping, Lloyd's Register, NDT Services Limited
The ndt services market report table of contents includes:
1. Executive Summary
2. NDT
Services Market Characteristics
3. NDT
Services Market Trends And Strategies
4. NDT
Services Market - Macro Economic Scenario
5. Global
NDT Services Market Size and Growth
.
31. Global NDT Services Market Competitive Benchmarking
32. Global
NDT Services Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The NDT Services Market
34. NDT
Services Market Future Outlook and Potential Analysis
35.
Appendix
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