NDT Services Global Market Report 2024

The global ndt services market has grown rapidly in recent years. It will grow from $14.84 billion in 2023 to $16.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period can be credited to various factors including infrastructure development, skill enhancement initiatives, increasing environmental awareness, and cyclical patterns within industries.

The global ndt services market is expected to see strong growth in the next few years. It will grow to $23.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the forecasted period is expected to stem from several contributing factors such as the burgeoning aerospace industry, the expansion of renewable energy initiatives, emphasis on safety and quality assurance, integration of digitalization and Industry 4.0 technologies, and the pursuit of cost-effective solutions. Significant trends anticipated in this period involve market consolidation, heightened attention towards asset management, and the evolving landscape of quality assurance standards.

The NDT services market is poised for growth driven by the increasing utilization of renewable energy resources. This form of energy, derived from rapidly regenerating natural sources, relies on NDT for various purposes, like ultrasonic testing in wind turbine examination. India, as reported by Invest India in 2022, experienced substantial year-on-year growth of 9.83% in renewable energy additions, reinforcing the pivotal role of renewable energy in propelling the NDT services market.

Anticipated growth in the NDT services market is attributed to the surge in oil and gas projects. These comprehensive endeavors encompass exploration, extraction, and processing of these resources, necessitating regular inspections and quality assurance provided by NDT services. The Energy Information Administration (EIA) predicts technical advancements driving increased per well recoveries and shale gas output. This sector's growth is underscored by estimates showing a rise in natural gas percentage from 34% to 39% by 2050, propelled by heightened drilling activities, thereby fueling demand for NDT services.

Technological advancements stand as a prominent trend shaping the NDT services market landscape. Industry leaders are focusing on innovation to maintain their market positions. For instance, in October 2022, ICR Integrity, a UK-based player in NDT services, introduced INSONO, an innovative technique for inspecting composite repairs on metallic components. This technology ensures repair integrity and detects defects within composite materials and steel substrates, assuring operators of application quality and long-term performance.

Leading companies within the NDT services sector are prioritizing innovation with products like the Eddyview II portable eddy current flaw detector. This product, incorporating standard eddy current testing and Eddy Current Array (ECA) capabilities, was launched in October 2022 by United Western Technologies in the US. Featuring an 8-inch touch screen display, gesture-controlled adjustments for key parameters, and compatibility with a range of probes including eddy current array probes, it targets various industrial applications requiring high-quality flaw detection.

In May 2023, Previan Technologies, a Canadian industrial technology group, acquired Sensor Networks Inc. (SNI), a US-based provider specializing in sensing tools for inspecting safety-critical components. This strategic acquisition, undisclosed in amount, aims to integrate SNI solutions into Previan's Eddyfi Technologies unit, augmenting expertise and bolstering NDT Global's capabilities. The addition of SNI's high-end technology is expected to enhance productivity and remote monitoring capabilities within critical industries.

Major companies operating in the ndt services market report are Mistras Group Inc., Olympus Corporation, Nikon Metrology NV, TÜV Rheinland Group, Intertek Group PLC, TEAM Inc., General Electric Company, Ashtead Technology Ltd., Zetec Inc., Yxlon international GMBH, ALS Limited, Applus+, Bureau Veritas SA, Dekra SE, Fischer Technologies Inc., Previan Technologies, SGS SA, Det Norske Veritas, Registro Italiano Navale, NDT Global Limited, NDT Kit Inc., NDT Systems Inc., Sonatest PLC, Eddyfi Technologies Inc., HMT Inspection Inc., NDT Solutions Inc., Carl Zeiss Industrial Metrology GmbH, American Bureau of Shipping, Lloyd's Register, NDT Services Limited

North America was the largest region in the NDT services market share in 2023. The regions covered in the ndt services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ndt services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary NDT services encompass inspection, equipment rental, training, and calibration. Inspection services enable inspectors to gather crucial data without causing irreversible changes to materials or systems. This involves evaluating the structural integrity of subsurface infrastructure during trenchless rehabilitation and maintenance. Various testing techniques, including visual inspection, magnetic particle, liquid penetrant, eddy current, ultrasonic, radiographic, acoustic emission, and terahertz imaging, are incorporated into these services. NDT services find application across multiple industries such as manufacturing, oil and gas, aerospace, government infrastructure, public safety, automotive, power generation, among others.

This report provides NDT services market statistics, including critical infrastructure protection industry global market size, regional shares, competitors with an NDT services market share, detailed NDT services market segments, market trends and opportunities, and any further data you may need to thrive in the NDT services industry. This NDT services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The NDT services market includes revenues earned by entities by providing condition-based maintenance and asset integrity, drone inspection services, internal rotary inspection, and micro- and macro-examinations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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