Dublin, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The "Non-Destructive Testing (NDT) Market Report 2023-2033" has been added to ResearchAndMarkets.com's offering.
World revenue for the NDT market will surpass US$9.57 billion in 2023, with strong revenue growth predicted through to 2033. This study identifies which organizations hold the greatest potential.
Expansion of Infrastructure and Industrial Developments, Technological Advancements, and Government Laws Governing Public Safety and Product Quality are Driving Market growth
The non-destructive testing (NDT) market plays a crucial role in infrastructure and industrial projects by ensuring the safety, quality, and reliability of materials, components, and structures without causing damage. Rapid urbanization, infrastructure development, and industrial expansion in emerging economies are driving the demand for NDT across the world.
Latest or upcoming construction projects, including bridges, pipelines, power plants, and manufacturing facilities mandatory to require thorough inspection and quality assessment during their construction, operation, and maintenance phases. For instance, in June 2023, a public infrastructure firm called "Shreeji Infrastructure" won a US25.4 million engineering, procurement, and construction (EPC) contract from Coal India for 35W solar projects in West Bengal. Also, in January 2023, QatarEnergy invested US$6 billion in petrochemicals project with Chevron Phillips Chemical Co. to develop 2.1 million mt/year ethylene project in Ras Laffan.
Lack of Skilled Workforce to Perform NDT and Inspection Tasks and Limitations in Detecting Certain Defects to Hamper Industry growth
The detection of defects is a critical aspect of ensuring the quality and reliability of products and structures across various industries. While non-destructive testing (NDT) techniques have been developed to identify flaws without causing damage, there are certain limitations that can hamper the detection of certain defects. For example, limitation is the size and depth of the defect. NDT methods rely on physical or electromagnetic properties to identify flaws, such as ultrasonic waves, X-rays, or magnetic fields.
However, if a defect is too small or shallow, it may not produce a detectable signal or may be overlooked during inspection. Different NDT methods are suitable for specific types of defects. For instance, the ultrasonic testing is effective for detecting internal flaws such as cracks or delamination, but it may not be as effective in identifying surface defects. Similarly, X-ray inspection is excellent for detecting internal voids or inclusions, but it may not be as sensitive to certain types of structural discontinuities.
Market Dynamics
Market Driving Factors
- Expansion of Infrastructure and Industrial Projects
- Technological Advancements in NDT Techniques
- Increasing Safety and Quality Regulations
Market Restraining Factors
- Lack of Skilled Workforce to Perform NDT and Inspection Tasks
- Limitations in Detecting Certain Defects
Market Opportunities
- The Future of NDT With Wireless Sensors, A.I. And IoT
- Use of Drones and Crawling Robots for NDT
Segments Covered in the Report
Flaw Type
- Surface Cracks & Flaws
- Internal Flaws & Discontinuities
- Lack of Bond or Lack of Fusion
- Non-Metallic Inclusions (Slag, Porosity)
- Material Quality
- Laminations & Thickness Measurement
Material
- Ferrous Forgings & Stampings
- Ferrous Raw Materials & Rolled Products
- Ferrous Tube & Pipe
- Iron & Steel Castings
- Non-Ferrous Components & Materials
Technique
- Ultrasonic Testing
- Visual Testing
- Radiographic Testing
- Liquid Penetrant Testing
- Eddy-Current Testing
- Magnetic Particle Testing
Application
- Automotive & Railway Industry
- Aerospace Industry
- Petrochemical & Gas Industries
- Pipe & Tube Manufacturing Industry
- Shipbuilding Industry
- Non-Ferrous Components & Materials
End Use
- Designing
- Manufacturing Quality
- In-service Inspection
- Plant Life Extension
- Other End-Use
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 16 leading national markets.
The report also includes profiles and for some of the leading companies in the Non-Destructive Testing (NDT) Market, 2023 to 2033, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth:
- Acuren
- Anritsu Corporation
- Ashtead Technology, Inc.
- Eddyfi Technology
- Fischer Technology Inc.
- FPrimeC Solutions Inc.
- Fujifilm Holding Corporation
- GE Measurement
- Intertek Group PLC
- Magnaflux Corporation
- Mistras group
- Nikon Corporation
- Olympus Corporation
- SGS SA
- Sonatest Ltd.
- T.D. Williamson, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nb65uy
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