What Does the Historical and Current NDT Services Market Size Trend Indicate?
The ndt services market has seen considerable growth due to a variety of factors.
• In recent times, the size of the NDT services market has seen a swift expansion. It is projected to increase from $16.3 billion in 2024 to $17.99 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.4%. Factors such as infrastructure advancement, enhancement of skills, environmental issues, and cyclical industry patterns have contributed to this growth during the historic period.
How Will the NDT Services Market Size In The Coming Years?
The NDT Services market is expected to maintain its strong growth trajectory in upcoming years.
• In the near future, the NDT services market size is projected to witness robust growth. It is anticipated to expand to $26.12 billion in 2029, rising at a compound annual growth rate (CAGR) of 9.8%.
The growth predicted within this period is due to factors such as the expansion of the aerospace industry and renewable energy, the assurance of safety and quality, digitalization, integration of Industry 4.0, as well as cost-effective solutions. Notable trends expected during this forecast period include a consolidation of the market, emphasis on asset management, and quality assurance requirements.
Which Factors Are Boosting Growth In The NDT Services Market?
The projected growth of the NDT services market is likely to be driven by the increased utilization of renewable energy resources. These resources, which regenerate faster than their consumption rate, are natural energy sources like wind, sunlight, etc. Non-destructive testing plays a crucial role in the production processes of such renewable energy resources, for instance, the ultrasonic testing of wind turbines. As per Invest India, the National Investment Promotion and Facilitation Agency, there was a remarkable annual growth rate of 9.83% in 2022 in terms of renewable energy additions, the highest ever recorded in India. This surge in renewable energy usage, therefore, is a key growth driver for the NDT services market.
What Key Areas Define The Segmentation Of The Global NDT Services Market?
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
Subsegments:
1) By Inspection Services: Visual Inspection, Ultrasonic Testing, Radiographic Testing, Magnetic Particle Testing, Eddy Current Testing
2) By Equipment Rental Services: NDT Inspection Equipment Rental, Calibration Equipment Rental
3) By Training Services: NDT Certification Training, In-House Training Programs, Online Training Courses
4) By Calibration Services: Instrument Calibration, On-Site Calibration, Laboratory Calibration
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How Are Emerging Trends Reshaping The Dynamics Of The NDT Services Market?
The emergence of technological advancements has become a predominant trend in the NDT services market. Making innovations in new technologies is a common strategy among major companies within this market to maintain their standing. For example, ICR Integrity, an NDT services company based in the UK, launched an innovative NDT methodology, INSONO, in October 2022. The technology was designed for inspecting composite repairs on metallic components, confirming their condition and longevity. It offers operators with confidence regarding the usage and long-term performance. Furthermore, it has the ability to identify defects in the composite material and decreases in the steel substrate.
Who Are the Key Players In The NDT Services Market?
Major companies operating in the NDT services market include:
• 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
What Is The Most Dominant Region In The NDT Services Market?
North America was the largest region in the NDT services market share in 2024. The regions covered in the NDT services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
