How Global Non-Destructive Testing (NDT) And Inspection Market Players Should Strategize For 2022-2031
2 Mar, 2022
The global NDT and inspection market size is expected to grow from $7.40 billion in 2021 to $8.49 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The NDT and inspection market is expected to reach $11.89 billion in 2026 at a CAGR of 8.8%.
What is the Global Non-Destructive Testing (NDT) And Inspection Market?
The NDT and inspection market consist of sales of NDT and inspection services by entities (organizations, sole traders, and partnerships) that are engaged in testing and inspection services. Non-destructive testing is the method of examining, testing, or assessing products, parts, or assemblies for discontinuities or discrepancies in functionality without sacrificing the part's or system's serviceability. NDT techniques are used in production lines, on-site inspections, and fabrication units to maintain product reliability, manufacturing process, uniform quality level, and attain lower product costs.
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What drives the Global Non-Destructive Testing (NDT) And Inspection Market?
Rapid growth in industrialization and urbanization across the globe is expected to propel the growth of the NDT and inspection market in the coming years. The high-pace manufacturing industries including the aerospace sector, are investing in NDT and inspection services for frequent quality inspections, detection of infrastructure failures, and others. The companies are also partnering with NDT service providers to carry out third-party inspection services to maintain product quality and production efficiency. Therefore, the rapid growth in industrialization and urbanization across the globe propels the growth of the NDT and inspection market.
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https://www.thebusinessresearchcompany.com/report/non-destructive-testing-and-inspection-global-market-reportGlobal Non-Destructive Testing (NDT) And Inspection Market Segments
The global non-destructive testing (NDT) and inspection market is segmented:
By Technique: Magnetic Particle Testing, Ultrasonic Testing, Visual Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, Acoustic Emission Testing, Others
By Method: Visual Inspection, Surface Inspection, Volumetric Inspection, Others
By Vertical: Manufacturing, Oil and Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, Others
By Geography: The regions covered in the non-destructive testing (NDT) and inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Non-Destructive Testing (NDT) And Inspection Global Market Report 2022provides market size and growth forecasts for the global non-destructive testing (NDT) and inspection market, global non-destructive testing (NDT) and inspection market share, non-destructive testing (NDT) and inspection market segments and geographies, non-destructive testing (NDT) and inspection market competitive landscape including leading competitors’ revenues, profiles and market shares. The non-destructive testing (NDT) and inspection market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Non-Destructive Testing (NDT) And Inspection Industry Playersinclude MISTRAS Group, Acuren Inspection Inc, YXLON International, Fprimec Solutions Inc, Baker Hughes, Applied Technical Services, TEAM Inc., SGS Group, Applus Services, Bureau Veritas S.A. and Intertek Group plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.