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.
The main types of NDT services include inspection services, equipment rental services, training services, and calibration services. The inspection services are used to permit evaluation and data collection on a material, system, or component by inspectors without causing irreversible change to it. Inspection services refer to the operations contracted with the goal of determining the subsurface infrastructure's structural integrity during trenchless rehabilitation and maintenance. The testing techniques included in the model include visual inspection, magnetic particle, liquid penetrant, eddy current, ultrasonic, radiographic, acoustic emission, and terahertz imaging. The NDT services are used in several industry verticals, including manufacturing, oil and gas, aerospace, government infrastructure and public safety, automotive, power generation, and others.
The NDT services market research report is one of a series of new reports from The Business Research Company that provides NDT services market statistics, including critical infrastructure protection industry global market size, regional shares, competitors with an NDT services market share, detailed NDT services market segments, market trends and opportunities, and any further data you may need to thrive in the NDT services industry. This NDT services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The global NDT services market size is expected to grow from $13.35 billion in 2022 to $14.74 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The NDT services market is expected to grow to $21.45 billion in 2027 at a CAGR of 9.8%.
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 April 2020, according to a "Global Energy Review" report shared by the IEA, a France-based autonomous intergovernmental organization, all industries had a 1.5% increase in the utilization of renewable energy in Q1 2020 compared to Q1 2019 globally. Moreover, the generation of renewable electricity grew by almost 3%, as new wind and solar PV projects were completed during the past year and because renewables are typically dispatched before other sources of electricity. The growth of solar, wind, and hydropower is anticipated to contribute to a nearly 5% increase in renewable electricity production. The percentage of renewable energy in the world's electricity generation increased from 26% in Q1 2019 to approximately 28% in Q1 2020. Therefore, an increase in the use of renewable energy resources is driving the growth of the NDT services market.
Technological advancements have emerged as a key trend gaining popularity in the NDT services market. Major companies operating in the NDT services market are focused on innovating new technologies to sustain their position in the market. For instance, in October 2022, ICR Integrity, a UK-based company operating in NDT services, unveiled a new innovative NDT technique, INSONO, for the inspection of composite repairs applied to metallic components. This technology has been developed to validate the condition and integrity of composite repairs that provide operators with assurance in the application and long-term performance. This can also detect defects within the composite material and reductions in the steel substrate.
In February 2020, Eddyfi, a Canada-based provider of NDT inspection technologies, acquired NDT Global for an undisclosed amount. Eddyfi, through this acquisition, forms a new entity that integrates various test and measurement technology specialties to provide full-service inspection technologies to suppliers. NDT Global is an Ireland-based pipeline inspection company and provider of worldwide defect assessment, metal loss and fracture inspection, geometry and deformation inspection, defect assessment, and fitness for purpose investigations.
Major players in the NDT services market are Mistras Group Inc., Olympus Corporation, Nikon Metrology, TUV Rheinland, Intertek, TEAM industrial services, GE Oil & Gas Digital Solutions, Ashtead Technology, Zetec Inc., Yxlon International GMBH, ALS Limited, Applus+, Bureau Veritas SA, Dekra SE, and Fischer Technologies Inc.
North America was the largest region in the NDT services market in 2022. The regions covered in the NDT services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the NDT services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The NDT services market includes revenues earned by entities by providing condition-based maintenance and asset integrity, drone inspection services, internal rotary inspection, and micro- and macro-examinations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The global NDT services market 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