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(Transportation-News.com, July 27, 2022 ) According to a new market research report titled, “Non-Destructive Testing Market by Solution (Instruments, Software, Testing Services), Method (Volumetric, Surface Examination), End-User (Oil & Gas, Automotive & Heavy Engineering, Aerospace & Defense, Power Generation)– Global Forecast to 2028’, published by Meticulous Research®, the non-destructive testing (NDT) market is expected to grow at a CAGR of 7.4% from 2021 to 2028 to reach $15.07 billion by 2028.
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NDT includes a comprehensive range of methods used to evaluate the properties of a part, material, product, or system without causing any effect on the integrity of the unit being inspected or investigated under the test procedure. These tests find its applications across multiple industry verticals, such as automotive & heavy engineering, aerospace & defense, oil & gas, power generation, and manufacturing. NDT is widely used in manufacturing & process industries as it increases the quality & ergonomics of products, maintains safety standards in factories, and supports in the maintenance & inspection. The non-destructive testing market is driven by factors such as stringent government regulations regarding the safety of assets, rising need to assess the structural integrity of aging infrastructure, and application of advanced materials in manufacturing processes. However, the lack of proper training for NDT personnel and the expensive nature of NDT equipment are factors restraining the growth of this market.
Impact of COVID-19 on the Non-Destructive Testing Market
The COVID-19 pandemic had a significant impact on most industries, with some industries either shutting down operations completely following the directives issued by local governments or running operations with minimal staff to ensure the safety of the workforce. Manufacturing units around the world halted operations temporarily. The retail sector recorded a sharp decline in footfalls, and the revenues of major companies decreased significantly. Non-destructive testing, which is an important industrial process, was severely impacted due to reduced economic activity across various industries.
The pandemic effect on the NDT industry was higher due to declined automotive production, reduced requirement of petroleum products, disrupted supply chain, and compromised investments. Further, the global travel ban also severely impacted the aerospace industry with ~40% to 60% reduction in passenger traffic across major regions. Despite huge losses, the market is expected to witness a slow recovery once the situation normalizes.
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The global non-destructive testing market is segmented based on solution (instruments, software, testing services, and ancillary services), method (volumetric examination, surface examination, visual examination, and others), and end user (oil & gas, automotive & heavy engineering, aerospace & defense, power generation, manufacturing, public infrastructure, medical & healthcare, and others), and geography.
Based on solution, the NDT market is segmented into instruments, software, testing services, and ancillary services. In 2021, the testing services segment is estimated to account for the largest share of the overall NDT market. Moreover, this segment is also expected to grow at the highest CAGR during the forecasted period. The increasing demand for safety standards in process industries, rising need to examine aging public infrastructure, and increasing efficiency of assets are the major drivers for the growth of this segment. Safety standards are becoming increasingly stringent across many industrial sectors. The demand for non-destructive testing services is majorly driven by industries, such as aerospace & defense, power generation, automotive, and manufacturing, which are constantly innovating their product offerings and services to increase safety and efficiency.
Based on method, the non-destructive testing market is segmented into volumetric examination, surface examination, visual examination, and others. In 2021, the volumetric examination segment is estimated to command the largest share of the overall NDT market. The large share of this segment is primarily attributed to the widespread use of volumetric examination in the oil & gas industry to inspect pipelines carrying oil for petroleum refining processes and growing research & development in advanced materials for the manufacturing industry to deliver products with better weight-to-strength properties and aesthetics. However, the visual examination segment is projected to grow at the highest CAGR during the forecast period.
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Based on end user, the NDT market is segmented into oil & gas, automotive & heavy engineering, aerospace & defense, power generation, manufacturing, public infrastructure, medical & healthcare, and other end users. In 2021, the oil & gas segment is poised to account for the largest share of the overall NDT market. This can be attributed to the increasing demand for energy across the globe; rising need to maintain safety, integrity, reliability of plant & machineries; and stringent environmental protection laws and other regulations.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (France, Germany, Spain, Italy, U.K., and Rest of Europe), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and the Middle East & Africa. In 2021, North America is expected to command the largest share of the global non-destructive testing market, followed by Asia-Pacific and Europe. North America's large share can be attributed to the presence of large-scale manufacturing industries in the region, especially in the automotive & heavy engineering, oil & gas, aerospace & defense, and power generation sectors. Further, the demand for non-destructive testing has increased significantly due to the growing need to monitor the structural health and integrity of assets and carry out predictive maintenance among various industries. These market conditions provide vast opportunities for non-destructive testing market players operating in North America.
However, the Asia-Pacific region is projected to show lucrative growth potential for the non-destructive testing market during the analysis period. The high growth of this regional market is attributed to the steady inflow of foreign direct investments in the region, rising demand for remote visual inspection of assets in the regional aerospace industry, stringent government safety rules, and growing use of automated NDT devices in the power industry due to increasing investments in nuclear energy, and other non-renewable energy sources.
The key players operating in the global non-destructive testing market are Mistras Group Inc. (U.S.), Olympus Corporation (Japan), Nikon Metrology Inc. (U.S.), Magnaflux Corporation (U.S.), Zetec Inc. (U.S.), Eddfyi Technologies (Canada), YXLON International GmbH (Germany), Sonatest Ltd. (U.K.), Carestream Health (U.S.), Intertek Group Plc (U.K.), and SGS SA (U.S.) among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/non-destructive-testing-market-5118
Non-destructive Testing Market Scope:
NDT Market, by Solution
Instrumentation
Detectors
Transducers & Probes
Gauges
Scanners
Microscopes
Others (UV Lamps, Indicators, & Meters)
Software
Testing Services
Acoustic Emission Testing
Eddy Current Testing
Alternating Current Field Measurement (ACFM)
Remote-field Testing (RFT)
Eddy-current Array (ECA)
Magnetic Particle Testing
Liquid Penetrant Testing
Radiography Testing
X-ray Testing
Gamma-ray Testing
Computed Radiography
Film Radiography
Direct Radiography (Real-time)
Ultrasonic Testing
Straight Beam Testing
Angle Beam Testing
Immersion Testing
Guided Wave Testing
Phased Array Testing
Time-of-flight Diffraction (TOFD)
Visual Testing
Unaided Visual Inspection
Aided Visual Inspection
Others
Ancillary Services
Equipment Rental Services
Training Services
Calibration Services
NDT Market, by End User
Oil & Gas
Automotive & Heavy engineering
Aerospace and Defense
Power Generation
Manufacturing
Public Infrastructure
Medical & Healthcare
Others
NDT Market, by Method
Volumetric Examination
Surface Examination
Visual Examination
Others
NDT Market, by Geography
North America
U.S.
Canada
Europe
Germany
U.K
France
Italy
Spain
Rest of Europe
Asia-Pacific (APAC)
China
Japan
India
Rest of RoAPAC
Latin America
Middle East and Africa
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Meticulous Research™
chhagan yadav
+91 744-7780008
chhagan.y@meticulousresearch.com
Source: EmailWire.Com 
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