The non-destructive testing (ndt) and inspection market size has grown strongly in recent years. It will grow from $8.97 billion in 2023 to $9.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The expansion observed in the historical period can be attributed to the increasing adoption of non-destructive testing (NDT) in the aerospace industry and the high demand for NDT methodologies in the oil and gas industry.
The non-destructive testing (ndt) and inspection market size is expected to see strong growth in the next few years. It will grow to $13.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to rising urbanization, an increase in research and development activities, and a growing demand for non-destructive testing (NDT) inspection services in the power generation sector. Key trends projected for the forecast period include advancements in digital radiography, increasing innovations in ultrasonic testing (UT), a growing use of robotics and automation, the application of infrared thermography, a focus on digital NDT and data analytics, and ongoing product innovations.
The NDT and inspection market is anticipated to experience substantial growth, propelled by the rapid expansion of industrialization and urbanization globally. As reported by The International Institute for Environment and Development, the global urban population reached 4.4 billion in 2021. Industries, particularly in high-paced manufacturing sectors such as aerospace, are increasingly investing in NDT and inspection services for frequent quality assessments and infrastructure failure detection. Collaborations with NDT service providers for training are also common to ensure production efficiency. Eurostat's statistical report in August 2022 highlighted an 8% increase in the European Union's industrial production in 2021 compared to the previous year. The value of sales for industrial production in the EU rose by nearly 14%, reaching $5429.08 billion (€5 209 billion) in 2021. This robust industrial growth contributes to the significant expansion of the NDT and inspection market.
A surge in research and development (R&D) activities is expected to be a driving force for the non-destructive testing (NDT) and inspection market. R&D initiatives, aimed at discovering new knowledge and advancing technologies, play a crucial role in enhancing manufacturing, processing, testing, and inspection processes. Ola Electric's investment of $500 million in establishing a battery innovation center in India exemplifies the emphasis on indigenous cell research and development. The Battery Innovation Center equipped with cutting-edge research equipment, including advanced non-destructive testing (NDT) technologies, demonstrates the commitment to technological advancements that support the growth of the NDT and inspection market.
The NDT and inspection market are characterized by a key trend - technological advancement. Major players in this field are dedicated to developing innovative technological solutions to strengthen their market positions. VCxray Inspection Service's launch of x.OS in April 2022, an X-ray operating system for non-destructive testing (NDT), exemplifies the industry's commitment to advancing technological solutions.
Companies operating in the NDT and inspection market are strategically focusing on innovation to enhance their market standing. Waygate Technologies introduced the BRIC (Boiler Robotic Inspection & Cleaning) service in June 2021, utilizing cutting-edge robots for the safe and efficient inspection and cleaning of industrial boilers. This innovative service eliminates physical risks to inspectors, provides precise data, and significantly reduces inspection costs in industries such as chemicals, paper manufacturing, and energy.
In November 2021 Acuren's acquisition of Premium Inspection and Testing Group is indicative of the industry's consolidation. This acquisition broadens Acuren's service capabilities, including rope access-based industrial solutions, materials engineering and testing, and reliability engineering, further solidifying their position in the non-destructive testing and inspection sector.
Major companies operating in the non-destructive testing (ndt) and inspection market report are SGS Group, TEAM Inc., Applus Services, Baker Hughes Company, Mistras Group Inc., Acuren Inspection Inc., Intertek Group Plc., Bureau Veritas S.A., Yxlon International Gmbh, MME Group, Arora Technologies (P) Limited, Fischer Measurement Technologies (India) Pvt. Ltd., General Electric Company, Nikon Corporation, Olympus Corporation, Magnetec Inspections Inc., Hojin Industrial Co. Ltd., Dan Dong Hua Ri Science Electric Co Ltd., CGN Nuclear Technology Development Co. Ltd., TWI Ltd., Ashtead Technology, Eddyfi UK Limited, TSC Subsea Limited, Sonatest Ltd., Energodiagnostika Co. Ltd., Magnaflux Corp, Scanna MSC, Fprimec Solutions Inc ., Applied Technical Services, TCR Arabia Company, NDT Corrosion Control Services Co., HQTS Group, Sigma Specialized Inspection Co LLC, Pfinder Chemie, Sonatest, Ashtead Technology, Zeiss.
North America was the largest region in the NDT and inspection market in 2023. The regions covered in the non-destructive testing (ndt) and inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-destructive testing (ndt) and inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary techniques of non-destructive testing (NDT) and inspection include magnetic particle testing, ultrasonic testing, visual testing, liquid penetrant testing, eddy-current testing, radiographic testing, acoustic emission testing, and others. Ultrasonic testing (UT) is a non-destructive procedure used to detect cracks and defects in parts and components by utilizing sound waves. NDT inspection methods encompass visual inspection, surface inspection, volumetric inspection, and others. These services find applications in various industries, including manufacturing, oil & gas, aerospace, public infrastructure, automotive, power generation, and other verticals.
The NDT and inspection market research report is one of a series of new reports that provides NDT and inspection market statistics, including NDT and inspection industry global market size, regional shares, competitors with an NDT and inspection market share, detailed NDT and inspection market segments, market trends and opportunities, and any further data you may need to thrive in the NDT and inspection industry. This NDT and inspection 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 non-destructive testing (NDT) market includes revenues earned by entities by providing services such as visual NDT (VT), ultrasonic NDT (UT), radiography NDT (RT), eddy current NDT (ET), magnetic particle NDT (MT), acoustic emission NDT (AE), dye penetrant NDT (PT), and leak testing (LT). 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.
This product will be delivered within 3-5 business days.
The non-destructive testing (ndt) and inspection market size is expected to see strong growth in the next few years. It will grow to $13.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to rising urbanization, an increase in research and development activities, and a growing demand for non-destructive testing (NDT) inspection services in the power generation sector. Key trends projected for the forecast period include advancements in digital radiography, increasing innovations in ultrasonic testing (UT), a growing use of robotics and automation, the application of infrared thermography, a focus on digital NDT and data analytics, and ongoing product innovations.
The NDT and inspection market is anticipated to experience substantial growth, propelled by the rapid expansion of industrialization and urbanization globally. As reported by The International Institute for Environment and Development, the global urban population reached 4.4 billion in 2021. Industries, particularly in high-paced manufacturing sectors such as aerospace, are increasingly investing in NDT and inspection services for frequent quality assessments and infrastructure failure detection. Collaborations with NDT service providers for training are also common to ensure production efficiency. Eurostat's statistical report in August 2022 highlighted an 8% increase in the European Union's industrial production in 2021 compared to the previous year. The value of sales for industrial production in the EU rose by nearly 14%, reaching $5429.08 billion (€5 209 billion) in 2021. This robust industrial growth contributes to the significant expansion of the NDT and inspection market.
A surge in research and development (R&D) activities is expected to be a driving force for the non-destructive testing (NDT) and inspection market. R&D initiatives, aimed at discovering new knowledge and advancing technologies, play a crucial role in enhancing manufacturing, processing, testing, and inspection processes. Ola Electric's investment of $500 million in establishing a battery innovation center in India exemplifies the emphasis on indigenous cell research and development. The Battery Innovation Center equipped with cutting-edge research equipment, including advanced non-destructive testing (NDT) technologies, demonstrates the commitment to technological advancements that support the growth of the NDT and inspection market.
The NDT and inspection market are characterized by a key trend - technological advancement. Major players in this field are dedicated to developing innovative technological solutions to strengthen their market positions. VCxray Inspection Service's launch of x.OS in April 2022, an X-ray operating system for non-destructive testing (NDT), exemplifies the industry's commitment to advancing technological solutions.
Companies operating in the NDT and inspection market are strategically focusing on innovation to enhance their market standing. Waygate Technologies introduced the BRIC (Boiler Robotic Inspection & Cleaning) service in June 2021, utilizing cutting-edge robots for the safe and efficient inspection and cleaning of industrial boilers. This innovative service eliminates physical risks to inspectors, provides precise data, and significantly reduces inspection costs in industries such as chemicals, paper manufacturing, and energy.
In November 2021 Acuren's acquisition of Premium Inspection and Testing Group is indicative of the industry's consolidation. This acquisition broadens Acuren's service capabilities, including rope access-based industrial solutions, materials engineering and testing, and reliability engineering, further solidifying their position in the non-destructive testing and inspection sector.
Major companies operating in the non-destructive testing (ndt) and inspection market report are SGS Group, TEAM Inc., Applus Services, Baker Hughes Company, Mistras Group Inc., Acuren Inspection Inc., Intertek Group Plc., Bureau Veritas S.A., Yxlon International Gmbh, MME Group, Arora Technologies (P) Limited, Fischer Measurement Technologies (India) Pvt. Ltd., General Electric Company, Nikon Corporation, Olympus Corporation, Magnetec Inspections Inc., Hojin Industrial Co. Ltd., Dan Dong Hua Ri Science Electric Co Ltd., CGN Nuclear Technology Development Co. Ltd., TWI Ltd., Ashtead Technology, Eddyfi UK Limited, TSC Subsea Limited, Sonatest Ltd., Energodiagnostika Co. Ltd., Magnaflux Corp, Scanna MSC, Fprimec Solutions Inc ., Applied Technical Services, TCR Arabia Company, NDT Corrosion Control Services Co., HQTS Group, Sigma Specialized Inspection Co LLC, Pfinder Chemie, Sonatest, Ashtead Technology, Zeiss.
North America was the largest region in the NDT and inspection market in 2023. The regions covered in the non-destructive testing (ndt) and inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-destructive testing (ndt) and inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary techniques of non-destructive testing (NDT) and inspection include magnetic particle testing, ultrasonic testing, visual testing, liquid penetrant testing, eddy-current testing, radiographic testing, acoustic emission testing, and others. Ultrasonic testing (UT) is a non-destructive procedure used to detect cracks and defects in parts and components by utilizing sound waves. NDT inspection methods encompass visual inspection, surface inspection, volumetric inspection, and others. These services find applications in various industries, including manufacturing, oil & gas, aerospace, public infrastructure, automotive, power generation, and other verticals.
The NDT and inspection market research report is one of a series of new reports that provides NDT and inspection market statistics, including NDT and inspection industry global market size, regional shares, competitors with an NDT and inspection market share, detailed NDT and inspection market segments, market trends and opportunities, and any further data you may need to thrive in the NDT and inspection industry. This NDT and inspection 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 non-destructive testing (NDT) market includes revenues earned by entities by providing services such as visual NDT (VT), ultrasonic NDT (UT), radiography NDT (RT), eddy current NDT (ET), magnetic particle NDT (MT), acoustic emission NDT (AE), dye penetrant NDT (PT), and leak testing (LT). 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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Non-Destructive Testing (NDT) and Inspection Market Characteristics3. Non-Destructive Testing (NDT) and Inspection Market Trends and Strategies32. Global Non-Destructive Testing (NDT) and Inspection Market Competitive Benchmarking33. Global Non-Destructive Testing (NDT) and Inspection Market Competitive Dashboard34. Key Mergers and Acquisitions in the Non-Destructive Testing (NDT) and Inspection Market
4. Non-Destructive Testing (NDT) and Inspection Market - Macro Economic Scenario
5. Global Non-Destructive Testing (NDT) and Inspection Market Size and Growth
6. Non-Destructive Testing (NDT) and Inspection Market Segmentation
7. Non-Destructive Testing (NDT) and Inspection Market Regional and Country Analysis
8. Asia-Pacific Non-Destructive Testing (NDT) and Inspection Market
9. China Non-Destructive Testing (NDT) and Inspection Market
10. India Non-Destructive Testing (NDT) and Inspection Market
11. Japan Non-Destructive Testing (NDT) and Inspection Market
12. Australia Non-Destructive Testing (NDT) and Inspection Market
13. Indonesia Non-Destructive Testing (NDT) and Inspection Market
14. South Korea Non-Destructive Testing (NDT) and Inspection Market
15. Western Europe Non-Destructive Testing (NDT) and Inspection Market
16. UK Non-Destructive Testing (NDT) and Inspection Market
17. Germany Non-Destructive Testing (NDT) and Inspection Market
18. France Non-Destructive Testing (NDT) and Inspection Market
19. Italy Non-Destructive Testing (NDT) and Inspection Market
20. Spain Non-Destructive Testing (NDT) and Inspection Market
21. Eastern Europe Non-Destructive Testing (NDT) and Inspection Market
22. Russia Non-Destructive Testing (NDT) and Inspection Market
23. North America Non-Destructive Testing (NDT) and Inspection Market
24. USA Non-Destructive Testing (NDT) and Inspection Market
25. Canada Non-Destructive Testing (NDT) and Inspection Market
26. South America Non-Destructive Testing (NDT) and Inspection Market
27. Brazil Non-Destructive Testing (NDT) and Inspection Market
28. Middle East Non-Destructive Testing (NDT) and Inspection Market
29. Africa Non-Destructive Testing (NDT) and Inspection Market
30. Non-Destructive Testing (NDT) and Inspection Market Competitive Landscape and Company Profiles
31. Non-Destructive Testing (NDT) and Inspection Market Other Major and Innovative Companies
35. Non-Destructive Testing (NDT) and Inspection Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Non-Destructive Testing (NDT) and Inspection Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on non-destructive testing (ndt) and inspection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for non-destructive testing (ndt) and inspection? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Technique: Magnetic Particle Testing; Ultrasonic Testing; Visual Testing; Liquid Penetrant Testing; Eddy-Current Testing; Radiographic Testing; Acoustic Emission Testing; Other Techniques
2) By Method: Visual Inspection; Surface Inspection; Volumetric Inspection; Other Methods
3) By Vertical: Manufacturing; Oil and Gas; Aerospace; Public Infrastructure; Automotive; Power Generation; Other Verticals
Key Companies Mentioned: SGS Group; TEAM Inc.; Applus Services; Baker Hughes Company; Mistras Group Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- SGS Group
- TEAM Inc.
- Applus Services
- Baker Hughes Company
- Mistras Group Inc.
- Acuren Inspection Inc.
- Intertek Group Plc.
- Bureau Veritas S.A.
- Yxlon International Gmbh
- MME Group
- Arora Technologies (P) Limited
- Fischer Measurement Technologies (India) Pvt. Ltd.
- General Electric Company
- Nikon Corporation
- Olympus Corporation
- Magnetec Inspections Inc.
- Hojin Industrial Co. Ltd.
- Dan Dong Hua Ri Science Electric Co Ltd.
- CGN Nuclear Technology Development Co. Ltd.
- TWI Ltd.
- Ashtead Technology
- Eddyfi UK Limited
- TSC Subsea Limited
- Sonatest Ltd.
- Energodiagnostika Co. Ltd
- Magnaflux Corp
- Scanna MSC
- Fprimec Solutions Inc .
- Applied Technical Services
- TCR Arabia Company
- NDT Corrosion Control Services Co.
- HQTS Group
- Sigma Specialized Inspection Co LLC
- Pfinder Chemie
- Sonatest
- Ashtead Technology
- Zeiss
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 9.66 Billion |
| Forecasted Market Value ( USD | $ 13.01 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 37 |
