Dublin, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The "Non-Destructive Testing (NDT) and Inspection Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global non-destructive testing (NDT) and inspection market.
The report focuses on the non-destructive testing (NDT) and inspection market which is experiencing strong growth. It gives a guide to the non-destructive testing (NDT) and inspection market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The global NDT and inspection market is expected to grow from $7.03 billion in 2020 to $7.40 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth 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 market is expected to reach $11.16 billion in 2025 at a CAGR of 10.8%.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Where is the largest and fastest growing market for non-destructive testing (NDT) and inspection? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Non-Destructive Testing (NDT) and Inspection market global report from the publisher answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider non-destructive testing (NDT) and inspection market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The non-destructive testing (NDT) and inspection market section of the report gives context. It compares the non-destructive testing (NDT) and inspection market with other segments of the non-destructive testing (NDT) and inspection market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, non-destructive testing (NDT) and inspection indicators comparison.
Major players in the non-destructive testing (NDT) and inspection market are 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.
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 (NDT) 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.
The main techniques of non-destructive testing (NDT) and inspection include magnetic particle testing, ultrasonic testing, visual testing, liquid penetrant testing, eddy-current testing, radiographic testing, acoustic emission testing, and others. Ultrasonic testing (UT) is a non-destructive test procedure for detecting cracks and defects in parts and components using sound waves. The methods used in NDT inspection include visual inspection, surface inspection, volumetric inspection, and others. These services are used by manufacturing, oil & gas, aerospace, public infrastructure, automotive, power generation, and other verticals.
North America was the largest region in the NDT and inspection market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Technological advancement is a key trend shaping the NDT and inspection market. Major companies operating in the NDT and inspection field are focused on developing technological solutions for NDT and inspection to strengthen their position. For instance, in March 2019, YXLON International a Germany-based provider of inspection systems and services launched new x-ray systems for the Semicon industry which offers automated 2D and 3D inspection of bumps, and locate, identify, measure failures with the highest standards.
In July 2019, Sintavia, a US-based additive manufacturer for the aerospace, defense, and space industry acquired NDT services provider QC Laboratories, Inc. for an undisclosed amount. The acquisition is expected to boost Sintavia NDT's capabilities in commercial aerospace applications, especially for surface finish conformance testing. QC Laboratories, Inc. is a US-based company involved in offering industrial and commercial non-destructive testing services.
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. China's urban population, for instance, reached 60.3% of the total population in 2019, while India's urban population accounted for 34.5% of the total population in the same year. 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. For instance, in June 2019, SGS, a Swiss-based provider of inspection services agreed with TD Aerospace, a Morocco-based provider of metallic tubes and ducts for the aerospace sector, to integrate its NDT services into the TDM's production process. Therefore, the rapid growth in industrialization and urbanization across the globe propels the growth of the NDT and inspection market.
The countries covered in the non-destructive testing (NDT) and inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Topics Covered:
1. Executive Summary
2. Non-Destructive Testing (NDT) and Inspection Market Characteristics
3. Non-Destructive Testing (NDT) and Inspection Market Trends and Strategies
4. Impact Of COVID-19 On Non-Destructive Testing (NDT) and Inspection
5. Non-Destructive Testing (NDT) and Inspection Market Size and Growth
5.1. Global Non-Destructive Testing (NDT) and Inspection Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Non-Destructive Testing (NDT) and Inspection Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Non-Destructive Testing (NDT) and Inspection Market Segmentation
6.1. Global Non-Destructive Testing (NDT) and Inspection Market, Segmentation by Technique, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Non-Destructive Testing (NDT) and Inspection Market, Segmentation by Method, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Non-Destructive Testing (NDT) and Inspection Market, Segmentation by Vertical, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Non-Destructive Testing (NDT) and Inspection Market Regional and Country Analysis
7.1. Global Non-Destructive Testing (NDT) and Inspection Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Non-Destructive Testing (NDT) and Inspection Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Non-Destructive Testing (NDT) and Inspection Market
9. China Non-Destructive Testing (NDT) and Inspection Market
10. India Non-Destructive Testing (NDT) and Inspection Market
11. Japan Non-Destructive Testing (NDT) and Inspection Market
12. Australia Non-Destructive Testing (NDT) and Inspection Market
13. Indonesia Non-Destructive Testing (NDT) and Inspection Market
14. South Korea Non-Destructive Testing (NDT) and Inspection Market
15. Western Europe Non-Destructive Testing (NDT) and Inspection Market
16. UK Non-Destructive Testing (NDT) and Inspection Market
17. Germany Non-Destructive Testing (NDT) and Inspection Market
18. France Non-Destructive Testing (NDT) and Inspection Market
19. Eastern Europe Non-Destructive Testing (NDT) and Inspection Market
20. Russia Non-Destructive Testing (NDT) and Inspection Market
21. North America Non-Destructive Testing (NDT) and Inspection Market
22. USA Non-Destructive Testing (NDT) and Inspection Market
23. South America Non-Destructive Testing (NDT) and Inspection Market
24. Brazil Non-Destructive Testing (NDT) and Inspection Market
25. Middle East Non-Destructive Testing (NDT) and Inspection Market
26. Africa Non-Destructive Testing (NDT) and Inspection Market
27. Non-Destructive Testing (NDT) and Inspection Market Competitive Landscape and Company Profiles
27.1. Non-Destructive Testing (NDT) and Inspection Market Competitive Landscape
27.2. Non-Destructive Testing (NDT) and Inspection Market Company Profiles
27.2.1. MISTRAS Group
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Acuren Inspection Inc
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. YXLON International
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Fprimec Solutions Inc
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Baker Hughes
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers and Acquisitions in the Non-Destructive Testing (NDT) and Inspection Market
29. Non-Destructive Testing (NDT) and Inspection Market Future Outlook and Potential Analysis
30. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/o41aas
