Global NDT Services Market Report 2023: Forecast Market Size, Lucrative Segments And Top Geographies
24 May, 2023
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%.
Global NDT Services Market Key Driver
The increased use of renewable energy resources is expected to propel the NDT services market forward. Renewable energy is energy derived from natural sources that regenerate themselves faster than they are depleted. Non-destructive testing is used in the production of renewable energy sources, such as ultrasonic wave testing of wind turbines.
Get a sample of the global NDT services market reportGlobal NDT Services Market Segments
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
4) By Geography: The regions covered in the NDT services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accountsfor the largest share in the global NDT services market.
Major NDT Services Industry Players
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.
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NDT Services Market Overview
NDT refers to a group of inspection techniques that allow inspectors to assess and gather information about a material, system, or component without causing long-term changes to it. These are used to examine the properties of a material, component, structure, or system without affecting the original part in order to look for typical variations or welding faults and discontinuities.
NDT Services Global Market Report 2023 provides data on the global NDT services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The NDT services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.