Non-Destructive Testing Equipment Market Growth, Trends, Size, Share and Forecast Analysis 2032
Non-Destructive Testing (NDT) Equipment Market Size- By Testing Method, By Technique, By Industry Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Mar-2023 | Report ID: MACH2312 | Pages: 1 - 234 | Formats*: |
| Category : Equipment and Machinery | |||
Global Non-Destructive Testing (NDT) Equipment Market Overview
According to SPER Market Research, the Global Non-Destructive Testing Equipment Market is estimated to reach USD 9.33 billion by 2032 with a CAGR of 8.95 %.
The technique of non-destructive testing (NDT) is used to find flaws and discontinuities in materials, components, and structures. The NDT market is anticipated to expand significantly as a result of ongoing advancements in robotics, automation, oil & gas, electronics, and robotics, as well as an increase in demand for high-quality machinery. Businesses must be certified for quality in compliance with regulations, which include the ISO 9001 quality management system and other certifications for quality control and assurance.
The growth of the market analysis for non-destructive testing equipment is also largely attributed to the considerable rise in the use of NDT inspection equipment by several firms to enhance operations, cut waste, and limit liability. The region's non-destructive testing equipment market is anticipated to grow as a result of factors such as stringent government regulations pertaining to public safety and product quality, increased acceptance of NDT and examination equipment and facilities in the electronics, automation, and robotics industrial segments, high acceptance of IoT devices, and increased demand for the assessment of the health of ageing assets.
Unfortunately, there is a scarcity of qualified employees to do NDT and examination tasks. large-scale infrastructure upgrades in both developed and underdeveloped nations. The rise in strict safety government regulations in various regions, which is a result of an increase in the frequency of infrastructure failures, the need to prolong the life of outdated infrastructure, the surge in maintenance optimization by various industries for effective operations, and the rise in quality/safety assurance, all contribute to the market growth of non-destructive testing equipment. Non-destructive testing equipment market share is hampered by expensive equipment and a shortage of experienced experts. The use of sophisticated materials is predicted to create a profitable market opportunity for non-destructive testing equipment.
Impact of COVID-19 on the Global Non-Destructive Testing Equipment Market
The global non-destructive testing equipment market has been significantly affected by the COVID-19 pandemic, similar to most other industries, according to Akash Samal. The pandemic resulted in reduced global trade, industrial output, and manufacturing activities, leading to a temporary decrease in demand for NDT equipment. This was mainly due to the temporary closure of factories and industrial plants, which resulted in fewer inspection and testing services being required.
Furthermore, the pandemic also caused a decline in investments in infrastructure development, which had a further impact on the demand for NDT equipment. The supply chain of NDT equipment was also disrupted due to the closure of borders and restrictions on international travel, causing delays in production and delivery.
Despite these challenges, the market is expected to recover and grow steadily in the upcoming years. The growing emphasis on safety and quality control across various industries, as well as the need for efficient and cost-effective inspection and testing solutions, is expected to drive the market's growth. Additionally, the increasing investments in infrastructure development and the need for regular maintenance and inspection of existing infrastructure are anticipated to fuel the demand for NDT equipment.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Testing Method, By Technique, By Industry Vertical |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Applus Services, Baker Hughes, Bureau Veritas S.A., Fujifilm Corporation, Innospection Limited, Intertek Group Plc., Mistras Group Inc., Nikon Metrology NV, OkoNDT Group, Olympus Corporation, Yxlon International Gmbh (Comet Holding Ag) |
Target Audience:
- Non-Destructive Testing Equipment Manufacturers
- Distributors and Resellers
- Government Agencies and Regulatory Bodies
- Industry Associations
- Investors and Venture Capitalists
Global Non-Destructive Testing (NDT) Equipment Market Segmentation:
1. By Testing Method:
- Eddy Current Testing
- Liquid Penetrant Testing
- Magnetic Particle Testing and Electromagnetic Testing
- Radiography Testing
- Ultrasonic Testing
- Visual Inspection Testing
2. By Technique:
- Volumetric Examination
- Surface Examination
3. By Industry Vertical:
- Aerospace and Defense
- Automotive and Transportation
- Energy and Power
- Infrastructure
- Oil and Gas
4. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Non-Destructive Testing Equipment Market (FY’2019-FY’2032)
- Overview of Global Non-Destructive Testing Equipment Market
- Segmentation of Global Non-Destructive Testing Equipment Market By Testing Method (Ultrasonic Testing, Radiography Testing, Visual Inspection Testing, Magnetic Particle Testing and Electromagnetic Testing, Eddy Current Testing, Liquid Penetrant Testing, Others)
- Segmentation of Global Non-Destructive Testing Equipment Market By Industry Vertical (Aerospace and Defense, Automotive and Transportation, Energy and Power, Infrastructure, Oil and Gas, Others)
- Segmentation of Global Non-Destructive Testing Equipment Market By Technique (Volumetric Examination, Surface Examination, Others)
- Statistical Snap of Global Non-Destructive Testing Equipment Market Growth Analysis of Global Non-Destructive Testing Equipment Market
- Problems and Challenges in Global Non-Destructive Testing Equipment Market Competitive Landscape in the Global Non-Destructive Testing Equipment Market
- Impact of COVID-19 and Demonetization on Global Non-Destructive Testing Equipment Market Details on Recent Investment in Global Commercial Washing Machines Market
- Competitive Analysis of Global Non-Destructive Testing Equipment Market Major
- Players in the Global Non-Destructive Testing Equipment Market
- SWOT Analysis of Global Non-Destructive Testing Equipment Market
- Global Non-Destructive Testing Equipment Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s2.2 Market size estimation2.2.1 Top-down and Bottom-up approach2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Non-Destructive Testing Equipment Market
5. Market variables and outlook
5.1. SWOT analysis5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats5.2. PESTEL analysis5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape5.3. PORTER’S five forces analysis5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Non-Destructive Testing Equipment Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Non-Destructive Testing Equipment Market
7. Global Non-Destructive Testing Equipment Market, By Testing Method, 2019-2032 (USD Million)
7.1 Eddy Current Testing7.2 Liquid Penetrant Testing7.3 Magnetic Particle Testing and Electromagnetic Testing7.4 Radiography Testing7.5 Ultrasonic Testing7.6 Visual Inspection Testing7.7 Others
8. Global Non-Destructive Testing Equipment Market, By Technique, 2019-2032 (USD Million)
9. Global Non-Destructive Testing Equipment Market, By Industry Vertical, 2019-2032 (USD Million)8.1 Volumetric Examination8.2 Surface Examination8.3 Others
9.1 Aerospace and Defense9.2 Automotive and Transportation9.3 Energy and Power9.4 Infrastructure9.5 Oil and Gas9.6 Others
10. Global Non-Destructive Testing Equipment Market, By Region, 2019-2032 (USD Million)
10.1 Global Non-Destructive Testing Equipment Market Size and Market Share by Region (2019-2025)10.2 Global Non-Destructive Testing Equipment Market Size and Market Share by Region (2026-2032)10.3 Asia-Pacific10.3.1 Australia10.3.2 China10.3.3 India10.3.4 Japan10.3.5 South Korea10.3.6 Rest of Asia-Pacific10.4 Europe10.4.1 France10.4.2 Germany10.4.3 Italy10.4.4 Spain10.4.5 United Kingdom10.4.6 Rest of Europe10.5 Middle East and Africa10.5.1 Kingdom of Saudi Arabia10.5.2 United Arab Emirates10.5.3 Rest of Middle East & Africa10.6 North America10.6.1 Canada10.6.2 Mexico10.6.3 United States10.7 Latin America10.7.1 Argentina10.7.2 Brazil10.7.3 Rest of Latin America
11. Company Profiles
11.1 Applus Services11.1.1 Company details11.1.2 Financial outlook11.1.3 Product summary11.1.4 Recent developments11.2 Baker Hughes11.2.1 Company details11.2.2 Financial outlook11.2.3 Product summary11.2.4 Recent developments11.3 Bureau Veritas S.A.11.3.1 Company details11.3.2 Financial outlook11.3.3 Product summary11.3.4 Recent developments11.4 Fujifilm Corporation11.4.1 Company details11.4.2 Financial outlook11.4.3 Product summary11.4.4 Recent developments11.5 Innospection Limited11.5.1 Company details11.5.2 Financial outlook11.5.3 Product summary11.5.4 Recent developments11.6 Intertek Group Plc.11.6.1 Company details11.6.2 Financial outlook11.6.3 Product summary11.6.4 Recent developments11.7 Mistras Group Inc.11.7.1 Company details11.7.2 Financial outlook11.7.3 Product summary11.7.4 Recent developments11.8 Nikon Metrology NV11.8.1 Company details11.8.2 Financial outlook11.8.3 Product summary
11.8.4 Recent developments
11.9 OkoNDT Group11.9.1 Company details11.9.2 Financial outlook11.9.3 Product summary11.9.4 Recent developments11.10 Olympus Corporation11.10.1 Company details11.10.2 Financial outlook11.10.3 Product summary11.10.4 Recent developments11.11 Yxlon International Gmbh (Comet Holding Ag)11.11.1 Company details11.11.2 Financial outlook11.11.3 Product summary11.11.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Non-Destructive Testing Equipment Market is projected to reach USD 9.33 billion by 2032, growing at a CAGR of 8.95% during the forecast period.
Non-Destructive Testing Equipment Market grew in market size from 2021. The Market is expected to reach USD 9.33 billion by 2032, at a CAGR of 8.95% during the forecast period.
Non-Destructive Testing Equipment Market CAGR of 8.95% during the forecast period.
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Non-Destructive Testing Equipment Market size is USD 9.33 billion from 2022 to 2032.
Non-Destructive Testing Equipment Market Segment is Covered By Testing Method, By Technique, By Industry Vertical
The North America region is anticipated to have the highest market share in Non-Destructive Testing Equipment Market.
The key players in the market include Companies Covered Applus Services, Baker Hughes, Bureau Veritas S.A., Fujifilm Corporation, Innospection Limited, Intertek Group Plc., Mistras Group Inc., Nikon Metrology NV, OkoNDT Group, Olympus Corporation, Yxlon International Gmbh (Comet Holding Ag)
The growth of the market analysis for non-destructive testing equipment is also largely attributed to the considerable rise in the use of NDT inspection equipment by several firms to enhance operations, cut waste, and limit liability.
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