DUBLIN, December 07, 2021--(BUSINESS WIRE)--The "Non-Destructive Testing Market by Solution, Method, End-User - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global non-destructive testing (NDT) market is expected to grow at a CAGR of 7.4% from 2021 to 2028 to reach $15.07 billion by 2028.
Factors such as stringent government regulations regarding the safety of assets, rising need to assess the structural integrity of aging infrastructure, and application of advanced materials in manufacturing processes are driving the growth of this market. However, the lack of proper training for NDT personnel and high cost of NDT equipment, maintenance, and inventory are expected to hinder the growth of this market to a certain extent.
Based on solution, the NDT market is segmented into instruments, software, testing services, and ancillary services. In 2021, the testing services segment is expected to command the largest share of the non-destructive testing market. The large share of this segment can be attributed to factors such as increasing demand for safety standards in process industries, assessing the health of aging public infrastructure, and increasing efficiency of assets in industries.
Based on method, the NDT market has been categorized into volumetric examination, surface examination, visual examination, and others. In 2021, the volumetric examination segment is projected to command the largest share of the market. The widespread use of volumetric examination in the oil & gas industry for the inspection of pipelines is one of the major drivers for the growth of this segment.
Based on end user, the NDT market has been divided oil & gas, automotive & heavy engineering, aerospace & defense, power generation, manufacturing, public infrastructure, medical & healthcare, and others.
In 2021, the oil & gas sector is poised to account for the largest share of the market. This large share can be attributed to the increasing demand for energy; growing importance of safety, integrity, reliability of plant & machineries; and various environmental protection laws and other regulations.
In 2021, North America is expected to account for the largest share of the global non-destructive testing market, followed by Asia-Pacific.
Non-Destructive Testing Market Drivers: Impact Analysis
Stringent Government Regulations for Asset Safety
Rising Need to Assess the Structural Integrity of Aging Infrastructure and Assets
Growing Use of Advanced Materials in Manufacturing Processes
Non-Destructive Testing Market Restraints: Impact Analysis
Lack of Skilled NDT Personnel
High Equipment and Maintenance Costs
Non-Destructive Testing Market Opportunities: Impact Analysis
Technological Advancements in NDT
Infrastructural Expansion Worldwide
Non-Destructive Testing Market Challenges: Impact Analysis
Reluctance toward Adopting NDT
Non-Destructive Testing Market Trends
Growing Use of Drones for Non-Destructive Testing
Integration of NDT Equipment with Asset Performance Management Software
The key players operating in the global non-destructive testing market are
Mistras Group Inc.
Nikon Metrology Inc.
YXLON International GmbH
Intertek Group Plc
Non-destructive Testing Market Scope
Transducers & Probes
Others (UV Lamps, Indicators, & Meters)
Acoustic Emission Testing
Eddy Current Testing
Alternating Current Field Measurement (ACFM)
Remote-Field Testing (RFT)
Eddy-Current Array (ECA)
Magnetic Particle Testing
Liquid Penetrant Testing
Direct Radiography (Real-time)
Straight Beam Testing
Angle Beam Testing
Guided Wave Testing
Phased Array Testing
Time-of-flight Diffraction (TOFD)
Unaided Visual Inspection
Aided Visual Inspection
Equipment Rental Services
By End User
Oil & Gas
Automotive & Heavy Engineering
Aerospace and Defense
Medical & Healthcare
Rest of Europe
Rest of Asia-Pacific (RoAPAC)
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/z1suhv
View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005673/en/
Laura Wood, Senior Press Manager
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