What Has Been the Progress and Growth of the Non Destructive Inspection Equipment Market in Recent Years?
The non destructive inspection equipment market has seen considerable growth due to a variety of factors.
• In recent times, the market size of non-destructive inspection equipment has experienced substantial growth. The expected increase from $2.91 billion in 2024 to $3.14 billion in 2025 will represent a compound annual growth rate (CAGR) of 7.9%.
The growth previously observed is linked to a rise in demand for non-destructive inspection instruments in aerospace and defence sectors. Likewise, industries involving oil, gas, and power have shown increased demand for NDT techniques. The requirement for advanced material testing, coupled with more government investments in oil & natural gas, and an amplified emphasis on safety protocols and quality control, have all contributed to this growth.
What Is The Expected Growth In The Non Destructive Inspection Equipment Market Size Evolve over the Forecast Period?
The non destructive inspection equipment market is expected to maintain its strong growth trajectory in upcoming years.
• We anticipate a robust expansion in the non-destructive inspection equipment market in the coming years, with it expected to reach $4.02 billion in 2029, boasting a compound annual growth rate (CAGR) of 6.4%.
The projected growth can be associated with factors such as the heightened focus on safety and reliability, the increased usage of traditional non-destructive testing (NDT) methods and the burgeoning awareness to enhance operational efficiency. Other contributing factors include an expanding rig fleet and the growth of the renewable energy sector. Significant trends during this forecast period will revolve around the incorporation of advanced imaging technologies, the rise of robotics and automation, the adoption of artificial intelligence (AI) and machine learning (ML), the advancements and uptake of handheld and portable NDI devices, and the emphasis on environmental and energy efficiency.
What Main Forces Are Fueling Expansion In The Non Destructive Inspection Equipment Market?
The non-destructive inspection equipment market is set to flourish owing to the growth of the oil and gas sector. These sectors are witnessing substantial expansion given their crucial part in powering transportation, heat production, electricity generation, and provision of raw materials to a multitude of industries, like aviation, automotive, and machinery, among others. The significance of non-destructive inspection equipment in these sectors lies in its ability to maintain the safety and reliability of infrastructure and equipment - it identifies any potential faults without inflicting harm, thereby averting accidents and expensive downtime. To illustrate, the U.S. Energy Information Administration, a government agency in the U.S, established that U.S. crude oil production rose to 13,308 thousand barrels per day in November 2023, this is an increase from 12,376 thousand barrels per day in November 2022. In alignment, U.S. natural gas gross withdrawals registered at 128,064 million cubic feet per day in November 2023, witnessing an increase from 123,740 million cubic feet per day in the same month in 2022. Hence, the expansion of the oil and gas sector paves the way towards the growth of the non-destructive inspection equipment market.
What Are The Primary Segments In The Global Non Destructive Inspection Equipment Market?
The non-destructive inspection equipment market covered in this report is segmented –
1) By Technology: Radiography Testing Equipment, Ultrasonic Testing Equipment, Magnetic Particle Testing Equipment, Liquid Penetrant Testing Equipment, Visual Inspection Equipment, Eddy Current Equipment
2) By Method: Visual Inspection, Surface Inspection, Volumetric Inspection
3) By Application: Flaw Detection, Dimensional Measurement, Chemical Composition Determination, Stress And Structure Analysis, Physical Properties Estimation, Leak Detection, Weld Verification, Other Applications
4) By Vertical: Manufacturing, Oil And Gas, Power Generation, Aerospace, Automotive, Public Infrastructure, Other Verticals
Subsegments:
1) By Radiography Testing Equipment: X-Ray Inspection Equipment, Gamma-Ray Inspection Equipment
2) By Ultrasonic Testing Equipment: Digital Ultrasonic Testing Equipment, Phased Array Ultrasonic Testing (PAUT) Equipment, Time-Of-Flight Diffraction (TOFD) Equipment
3) By Magnetic Particle Testing Equipment: Portable Magnetic Particle Testing Equipment, Fixed Magnetic Particle Testing Equipment
4) By Liquid Penetrant Testing Equipment: Water-Based Penetrant Testing Equipment, Oil-Based Penetrant Testing Equipment
5) By Visual Inspection Equipment: Borescopes And Endoscopes, Visual Inspection Cameras, Digital And Video Inspection Systems
6) By Eddy Current Equipment: Portable Eddy Current Testing Equipment, Eddy Current Flaw Detectors, Eddy Current Probes And Sensors
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How Are New Trends Impacting The Size Of The Non Destructive Inspection Equipment Market?
Leading firms in the non-destructive inspection equipment market are putting their resources into the innovation of advanced inspection products such as ultrasonic inspection equipment, with an aim to maintain their competitive edge in the market. An ultrasonic inspection instrument, which falls under the non-destructive testing (NDT) category, uses the power of high-frequency sound waves to evaluate the quality, integrity, and attributes of various materials. For instance, in August 2023, Baker Hughes Company, a renowned energy technology firm from the United States, unveiled their krautkrämer rotoarray product via their subsidiary, Waygate Technologies LP, a specialist company in industrial inspection solutions under Baker Hughes. This rotoarray is a state-of-the-art phased array ultrasonic inspection setup that allows for the high-speed, full-body testing of tubes with the aid of rotating ultrasonic probes, suitable for both seamless and electrical resistance welded (ERW) tubes. This inventive system brings to the table efficient and accurate inspection capabilities tailor-made for a broad range of industrial use cases, thereby ensuring the quality, safety, and dependability of the product. The equipment has been engineered for inspecting composite materials on a large scale and boasts upgraded roller probes for enhanced connectivity and mobility.
Who Are the Key Players In The Non Destructive Inspection Equipment Market?
Major companies operating in the non-destructive inspection equipment market are:
• Hitachi Ltd.
• TESCO Corporation
• Siemens AG
• Mitsubishi Heavy Industries Ltd.
• Baker Hughes Company
• Illinois Tool Works Inc.
• Carl Zeiss AG
• Olympus Corporation
• Ametek Inc.
• Hexagon AB
• Nikon Corporation
• Mettler-Toledo International Inc.
• Mistras Group Inc.
• Comet Holding AG
• FARO Technologies
• Eddyfi Technologies
• Zetec Inc.
• Sonatest Ltd.
• Ritec Inc.
• Echo Ultrasonics LLC
• Dolphitech AS
• OKOndt Group
• Fischer Technologies Inc.
• Danatronics Corporation
• Promag Technologies Development Limited
What Is The Most Dominant Region In The Non Destructive Inspection Equipment Market?
North America was the largest region in the non-destructive inspection equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-destructive inspection equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
