Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Global Non-destructive Testing (NDT) Services Market by Type (Inspection, Training, Others), Method (Radiographic, Ultrasonic, Others), Application (Flaw Detection, Others), End-use Industry (Oil & Gas, Manufacturing, Others) & Geography - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The non-destructive testing (NDT) services market is projected to reach $16.83 billion by 2030, at a CAGR of 8.9% from 2023 to 2030
The growth of the NDT services market is driven by stringent regulatory standards imposed by governments regarding public safety and product quality, the rising need to assess the structural integrity of aging infrastructure and assets, and the rising significance of advanced NDT techniques in the industrial sector. However, the high cost of NDT services restrains the growth of this market.
In addition, increasing investment in infrastructure projects in developing economies and a high inclination towards outsourcing NDT processes are expected to generate growth opportunities for the stakeholders in this market. However, the lack of a skilled workforce and the increased complexity of machines and structures are major challenges impacting market growth.
Additionally, the growing use of robots for NDT and the integration of AI technology in the NDT process are prominent trends in the NDT services market.
In 2023, the inspection services segment is expected to account for the largest share of the global NDT services market.
The segment's large market share is attributed to factors such as the increasing focus of players operating in the market on strategic developments to build inspection service capabilities and the need to inspect mass quantities of products among manufacturers.
However, the calibration and evaluation services segment is expected to record the highest CAGR during the forecast period. The need to keep equipment calibrated as per industry standards and the growing need for equipment calibration to broaden service capabilities for customers is expected to drive the growth of this segment in the coming years.
In 2023, the ultrasonic testing segment is expected to account for the largest share of the global NDT services market.
The segment's large share is attributed to its greater accuracy compared to other non-destructive testing techniques for detecting the depth of internal faults and the thickness of parts with parallel surfaces and the growing use of ultrasonic testing for the evaluation of pipelines.
However, the electromagnetic testing segment is expected to record the highest CAGR during the forecast period. The benefits of electromagnetic testing across end-use industries, the increasing focus of NDT equipment manufacturers in the development of electromagnetic testing equipment, and the growing use of various electromagnetic tests for testing the integrity of aircraft and aircraft parts are expected to drive the growth of this segment in the coming years.
In 2023, the flaw detection segment is expected to account for the largest share of the global NDT services market.
The large market share of this segment is attributed to the growing use of inspection testing for detecting variations in sizes, orientations, and shapes of materials and the increasing use of ultrasonic testing for multilayer material flaw detection.
Moreover, the flaw detection segment is expected to record the highest CAGR during the forecast period. The increasing use of NDT testing in manufacturing for flaw detection due to extreme temperatures, stress, fatigue, and dynamic loads, and the implications and increasing initiatives of companies for the development of NDT equipment for flaw detection, is expected to drive the growth of this segment in the coming years.
In 2023, the manufacturing segment is expected to account for the largest share of the global NDT services market.
The large market share of this segment is attributed to the growing focus of companies on the development of radiography testing systems and the growing need for material testing in automotive manufacturing to ensure the structural integrity and reliability of components used in safety-critical areas such as bodywork, brakes, and steering systems.
Moreover, the manufacturing segment is expected to record the highest CAGR during the forecast period. The increasing adoption of X-ray technology and computed tomography (CT) for materials testing and the rising inclination of manufacturers towards additive manufacturing are expected to drive the growth of this segment in the coming years.
In 2023, Asia-Pacific is expected to account for the largest share of the global NDT services market. Asia-Pacific's major market share is attributed to the increasing industrialization, growing power generation projects in the region, the surge in oil and gas production across the region, and the growing need for inspection services in the oil and gas industry.
However, the Middle East & Africa is expected to record the highest CAGR during the forecast period. Factors such as the region's leading position in the oil and gas industry, government focus on increasing production of oil and gas, growing integration of robots for inspection of oil and gas infrastructure, stringent regulations for inspection of oil & gas industry assets and infrastructure are expected to drive the growth of the NDT services market in the coming years.
Key questions answered in the report-
- What was the historical market for NDT services?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, and opportunities in the NDT services market?
- Who are the major players in the NDT services market?
- What is the competitive landscape like in the NDT services market?
- What are the recent developments in the NDT services market?
- What are the different strategies adopted by the major players in the NDT services market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global NDT services market, and how do they compete with the other players?
Market Insights
Factors Affecting Market Growth
- Stringent Regulations for Public Safety and Product Quality Driving the Demand for NDT Services
- Growing Need to Assess the Structural Integrity of Aging Infrastructure and Assets Supporting Market Growth
- Advanced NDT Techniques Gaining Significance in the Industrial Sector
- High Costs Limiting the Adoption of NDT Services
- Increasing Investments in Infrastructure Projects Creating Opportunities for NDT Service Providers
- Increasing Outsourcing of NDT Processes Expected to Generate Market Growth Opportunities
- Shortage of Trained NDT Professionals Impacting Market Growth
- Increasing Complexity of Machines and Infrastructures Leading to Inaccuracies in NDT Inspections and Results
Trends
- Growing Use of Robots for NDT
- Integration of AI Technology in NDT Processes
Case Studies
- SGS SA Performed NDT for West African Ventures Ltd's Escravos Gas Project in Nigeria.
- Applus Services, S.A. Performed NDT for the Gulf Coast Express Pipeline Project.
- Vertech Group Performed NDT for the Gladstone LNG Project.
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
- Market Ranking by the Key Players
Company Profiles
- SGS SA (Switzerland)
- Bureau Veritas (France)
- DEKRA SE (Sweden)
- Intertek Group plc (U.K.)
- TUV Rheinland (Germany)
- MISTRAS Group Inc. (U.S.)
- TEAM Inc. (U.S.)
- Waygate Technologies (Germany)
- Element Materials Technology (U.K.)
- Applus Services S.A. (Spain)
- TUV SUD AG (Germany)
- Acuren (U.S.)
- Applied Technical Services LLC (U.S.)
- Siemens Energy AG (Germany)
- PTS Group (U.K.)
- Vertech Group (Australia)
- TWI Ltd. (U.K.)
- NDT Group Inc. (Canada)
- Axess AS (Norway)
- Control Union (Netherlands)
- Testia (France)
Scope of the report:
Non-destructive Testing (NDT) Services Market Assessment - by Type
- Inspection Services
- Training Services
- Calibration and Evaluation Services
- Equipment Rental Services
- Consulting Services
Non-destructive Testing (NDT) Services Market Assessment - by Method
- Visual Testing
- Ultrasonic Testing
- Automated Ultrasonic Backscatter Testing
- Phased Array Ultrasonic Testing
- Long Range Ultrasonic Testing
- Internal Rotating Inspection Systems
- Time-of-Flight Diffraction Testing
- Dry-coupled Ultrasonic Testing
- Rapid Ultrasonic Gridding Testing
- Liquid Penetrant Testing
- Radiographic Testing
- Conventional Radiography
- Digital Radiography
- Automated Radiographic Testing
- Electromagnetic Testing
- Remote Field Testing
- Eddy Current Testing
- Alternating Current Field Measurement
- Magnetic Particle Testing
- Magnetic Flux Leakage Testing
- Acoustic Emission Testing
- Other Methods
Non-destructive Testing (NDT) Services Market Assessment - by Application
- Flaw Detection
- Dimensional Measurement
- Chemical Composition Determination
- Stress and Structure Analysis
- Physical Properties Estimation
Non-destructive Testing (NDT) Services Market Assessment - by End-use Industry
- Manufacturing
- Oil & Gas
- Downstream Processes
- Upstream Processes
- Midstream Processes
- Public Infrastructure
- Healthcare and Medical Devices
- Power Generation
- Aerospace
- Supply chain and transportation
- Military & Defense
- Water & Waste Management
- Other End-use Industries
Non-destructive Testing (NDT) Services Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/iwobkm
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