Non Destructive Testing (NDT) Equipment Market Share, Trends Revenue, Growth Drivers, Key Manufacturers, Challenges and Future Opportunities Till 2032


Non Destructive Testing (NDT) Equipment Market Share, Trends Revenue, Growth Drivers, Key Manufacturers, Challenges and Future Opportunities Till 2032: SPER Market Research

 Published: Mar-2023
 Author: SPER Analyst

Global Non-Destructive Testing Equipment Market is projected to be worth USD 9.93 billion by 2032 and is anticipated to expand at a 8.95%.

Non-destructive testing (NDT) equipment is a collection of tools and techniques used for evaluating and examining materials, components, and structures without causing any harm or modifying their physical characteristics. This equipment are widely used in industries that prioritize safety, reliability, and quality control, such as manufacturing, aerospace, automotive, construction, and oil and gas. The objective of using NDT equipment is to detect and locate any defects, anomalies, or flaws in the material being examined, such as cracks, corrosion, voids, or other structural defects. Early identification of these issues helps prevent accidents, decrease maintenance expenses, and ensure that the material meets the necessary quality standards. Some examples of NDT equipment are ultrasonic testing, x-ray testing, magnetic particle testing, eddy current testing, visual inspection, and liquid penetrant testing. Each of these techniques uses unique methods and equipment to identify and analyze the defects present in the material.

The non-destructive testing equipment market has been experiencing steady growth globally owing to the rising need for quality control, safety, and dependability across a range of industries such as automotive, aerospace, construction, manufacturing, and oil and gas. The market is projected to continue its growth trajectory in the foreseeable future, fueled by the rising demand for inspection and testing solutions that are both cost-effective and efficient.

Like most other industries, the global non-destructive testing equipment market has been significantly impacted by the COVID-19 pandemic. The pandemic resulted in a reduction in global trade, industrial output, and manufacturing activities, which caused a temporary decline in the demand for NDT equipment. This was mainly due to the temporary shutdown of factories and industrial plants, leading to a decrease in the number of inspection and testing services required.

Furthermore, the pandemic also led to a decline in investments in infrastructure development, which further affected the demand for NDT equipment. The closure of borders and restrictions on international travel also caused disruptions in the supply chain of NDT equipment, resulting in delays in production and delivery.

Despite these challenges, the market is expected to recover and grow steadily in the coming years. The increasing focus on safety and quality control across various industries, along with the need for efficient and cost-effective inspection and testing solutions, is likely to drive the market's growth. In addition, the rising investments in infrastructure development and the need for regular maintenance and inspection of existing infrastructure are expected to fuel the demand for NDT equipment.

Non-Destructive Testing Equipment Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Applus Service, 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).

Global Non-Destructive Testing Equipment Market Segmentation:

By Testing Method: Based on the Testing Method, Global Non-Destructive Testing Equipment Market is segmented as; Eddy Current Testing, Liquid Penetrant Testing, Magnetic Particle Testing and Electromagnetic Testing, Radiography Testing, Ultrasonic Testing, Visual Inspection Testing, Others.

By Technique: Based on the Technique, Global Non-Destructive Testing Equipment Market is segmented as; Volumetric Examination, Surface Examination, Others

By Industry Vertical: Based on the Industry Vertical, Global Non-Destructive Testing Equipment Market is segmented as; Aerospace and Defense, Automotive and Transportation, Energy and Power, Infrastructure, Oil and Gas, Others

By Region: With a sizable revenue share, North America emerged as the main segment. This is credited to the widespread use of NDT techniques, the accessibility of a qualified workforce, and the abundance of non-destructive testing training facilities in the area. Furthermore, the use of shale oil for power generation in the United States and Canada is anticipated to have a favourable effect on the rate of growth in the area. Additionally, it is anticipated that the regional market would be driven by the increasing emphasis on the use of NDT to prevent unanticipated system failures. Its expansion is attributed to a rise in the region's manufacturing, building, and power generation activities. Although there is a current shortage of experienced workers in the area, this shortage is anticipated to disappear as non-destructive testing techniques become more widely used. Additionally, it is anticipated that the Middle East will be a viable market for NDT techniques due to the region's large presence in the oil and gas sector.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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