Farmington, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The Non-Destructive Testing Services Market will obtain a CAGR of 13.50% and a value of USD 23.2 Billion in the forecast period 2022 to 2030. As with most technologies that don't hurt people, there aren't many things that drive significant growth and help keep people from getting hurt or dying by making sure that structures, parts, and machines are safe and cheap by nature. The global non-destructive testing services market is limited by things like the fact that parts need to be cleaned before and after inspection, the fact that the finish of a part can sometimes affect how sensitive the inspection is, and the fact that there isn't always a way to measure how deep something is. Non-destructive testing is also a very accurate way to test because the results of multiple tests can be correlated. This makes the test repeatable and gives you more than one chance. The report looks in depth at how the market works to find current trends and drivers, as well as future opportunities and possible problems for the major players in the market. The Global Non-Destructive Testing Services Market report also has information about people. Regulatory Scenarios and Competitive Analysis with Visual Competitive Dashboards to Evaluate Market Competition.
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Recent Developments:
- In June 2018 – Comet's Lab One and Yxlon's non-destructive testing facilities provided samples to customers for non-destructive testing (NDT) contract services. It is designed to bring customer engineers closer to instrumentation and measurement test and NDT innovation practices using products available in technologies such as RF power, X-ray/CT, and e-beam materials testing.
Regional Outlook:
From 2019 to 2025, the market for non-destructive testing services in Asia-Pacific is expected to grow at a rate of more than 10%. This is because safety regulations are getting stricter and the industry is becoming more standardised. Several emerging economies are becoming more industrialised quickly, which has led companies from other countries to expand their operations in the area to take advantage of growth opportunities.
As countries like China, Japan, and India put more money into the defence industry, NDT services are likely to be used more. There are more opportunities for NDT inspection services because more people are using renewable energy sources and our infrastructure is getting old. The high cost of NDT services and the lack of skilled workers in the area make it hard for NDT services to spread.
In 2018, more than 20% of the NDT services market was in North America. This is because the government has put in place a number of rules that encourage businesses to use NDT services. NDT services are used by a lot of people because there are a lot of refineries and more natural gas and oil are being made in the United States. NDT solutions are also being used more because advanced technologies are being used in many different industries.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 13.50% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 23.2 Billion |
| By Type | Traditional Non-Destructive Testing Services, Advanced Non-Destructive Testing Services, Other |
| By Application | Flaw detection, Leak detection, Dimensional measurement, Estimation of physical properties, Chemical composition determination, Stress and structure analysis, Other |
| By Product | Ultrasonic, Radiography, Liquid Penetrant, Magnetic Particle, Eddy-Current, Visual Inspection, Other |
| By Vertical | Aerospace and Defense, Automotive, Oil and gas, Infrastructure, Power, Other |
| By Companies | 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), Fujifilm Holdings Corporation (Japan) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers
The Internet is much more widely used in industry, which is one of the factors driving the growth of the non-destructive drug testing services market.
Additionally, more and more businesses are relying on renewable energy sources to generate electrical energy to power their operations. This is another key factor driving growth in the market.
Market Opportunities
Few companies need to use non-destructive drug testing services. That is, the CAGR is high. This is forcing many manufacturers providing these services to invest much more in research and development. The goal is to produce and create a non-destructive drug testing services market service that is far more sensitive and far more effective at detecting trace amounts of drugs in a person's system.
Market Restraints
These services tend to be expensive. So only large companies can easily afford it.
Market Challenges
Perhaps the biggest challenge facing manufacturers in this market for non-destructive drug testing services is to provide much better detection of trace amounts of drugs in the human body while providing a more efficient and sensitive service that is relatively inexpensive for most companies.
Key Segments Covered:
Top Market Players:
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), Fujifilm Holdings Corporation (Japan), and others.
By Type
- Traditional Non-Destructive Testing Services
- Advanced Non-Destructive Testing Services
- Other
By Product
- Ultrasonic
- Radiography
- Liquid Penetrant
- Magnetic Particle
- Eddy-Current
- Visual Inspection
By Application
- Flaw detection
- Leak detection
- Dimensional measurement
- Estimation of physical properties
- Chemical composition determination
- Stress and structure analysis
By Vertical
- Aerospace and Defence
- Automotive
- Oil and gas
- Infrastructure
- Power
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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