Non-Destructive Testing Services Market Opportunities, Business Forecast To 2028
The global non-destructive testing services market size was valued at USD 6.5 billion in 2021 and is poised to grow at a CAGR of 14.1% during the forecast period by 2028. due to increase industrial application across the globe. Non-destructive testing (NDT) is a testing and analysis technique used by industry to evaluate the properties of a material, component, structure or system for characteristic differences or welding defects and discontinuities without causing damage to the original part. NDT also known as non-destructive examination (NDE), non-destructive inspection (NDI) and non-destructive evaluation (NDE). Industrial safety requirements are a crucial factor in the development of the NDT industry.
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The global non-destructive testing services market segmentation:
1) By Product Type: Service and Equipment.
2) Technology: Radiography Testing, Ultrasonic Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Visual Inspection, and Eddy Current.
3) End-user: Oil & Gas, Power & Energy, Construction, Automotive & Transportation, Aerospace, Defense and Others.
Magnetic Particle Testing Accounted for Higher Revenue Share in Global Non-Destructive Testing Services Market:
Based on technology, global non-destructive testing services market is segmented into radiography testing, ultrasonic testing, magnetic particle testing, liquid penetrant testing, visual inspection, eddy current. Magnetic particle testing is accounted for higher revenue. This NDT process uses magnetic fields to find discontinuities at or near the surface of ferromagnetic materials. The magnetic field can be created with a permanent magnet or an electromagnet, which requires a current to be applied. The magnetic field will highlight any discontinuities as the magnetic flux lines produce leakage, which can be seen by using magnetic particles that are drawn into the discontinuity.
North America Leads the Global Non-Destructive Testing Services Market:
Based on regional analysis, global non-destructive testing services market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America global non-destructive testing services market contributed the largest share in 2021. The American Society of Mechanical Engineers (ASME) and the International Organization for Standardization (ISO) have been formed around the world to take strict steps to ensure the protection of instruments and the supervision of engineering services research. This is necessary in order to receive clearances and certificates from the authority involved. This has a positive global influence on the NDT market.
Strategic Acquisitions, Merger, Agreements, Collaborations and Partnerships are the key strategies adopted by market players:
The global non-destructive testing services market further reveals that the key player’s increasingly adopting strategies such as strategic acquisitions, merger, agreements, collaborations and partnerships to enhance market revenue share. For instance, June 2018 - Comet's Lab One and Yxlon's Non-Destructive Testing facility offered samples to customers for Non-Destructive Test (NDT) contract services. This was designed to bring customer engineers closer to metrology and measurement testing and NDT innovation practices, using the offerings available in the technologies i.e. RF Power, X-ray/CT, and electron beam materials testing.
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Key player in the global non-destructive testing services market are: MISTRAS Group, Inc. (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), SGS S.A. (Switzerland), Olympus Corporation (Japan), Nikon Metrology, Inc. (U.S.), Ashtead Technology, Inc. (U.S.), Sonatest Ltd. (U.K), Bosello High Technology S.R.L. (Italy), and Fujifilm Holdings Corporation (Japan)
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