The Non-Destructive Testing Services Market will obtain a CAGR of 13.50% and a value of USD 23.2 Billion between 2022 to 2030 in the forecast period.

Non-Destructive Testing Services Market Overview:

Like most technologies that are harmless to humans, there are few drivers conducive to significant growth and help prevent injury or death by ensuring that structures, components and machines are inherently safe and highly economical. The global non-destructive testing services market is impacted by constraints such as components that need to be cleaned before and after inspection, inspection sensitivity which can sometimes be affected by the component's finish, and sometimes lack of depth sizing. Non-destructive testing is also a highly accurate testing method because multiple tests can be used together to correlate results, which makes the test repeatable and provides multiple opportunities. The report elaborately studies market dynamics to identify current trends and drivers, future opportunities and possible challenges for key stakeholders operating in the market. Additionally, the Global Non-Destructive Testing Services Market report includes human demographics. Regulatory Scenarios and Competitive Analysis with Vivid Competitive Dashboards to Evaluate Market Competition. Additionally, PBI has analyzed the global non-destructive testing services market to enable clients to offer possible investment opportunities across regions (regional investment hotspots) and market unmet needs (product opportunities). Key stakeholders in the global market report include vendors, manufacturers, marketers, policy makers, and service providers engaged in the global non-destructive testing services market.

Non-Destructive Testing Services Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Non-Destructive Testing Services Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• June 2018 – Comet's Lab One and Yxlon's non-destructive testing facilities provided samples to customers for non-destructive testing (NDT) contract services. It is designed to bring customer engineers closer to instrumentation and measurement test and NDT innovation practices using products available in technologies such as RF power, X-ray/CT, and e-beam materials testing.

Major Market Segments Covered in Non-Destructive Testing Services Market Industry Research:

Market Key Players:
MISTRAS Group Inc. (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), SGS S.A. (Switzerland), Olympus Corporation (Japan), Nikon Metrology Inc. (U.S.), Ashtead Technology Inc. (U.S.), Sonatest Ltd. (U.K), Bosello High Technology S.R.L. (Italy), Fujifilm Holdings Corporation (Japan)

By Type:

• Traditional Non-Destructive Testing Services
• Advanced Non-Destructive Testing Services

By Product:

• Ultrasonic
• Radiography
• Liquid Penetrant
• Magnetic Particle
• Eddy-Current
• Visual Inspection

By Application:

• Flaw detection
• Leak detection
• Dimensional measurement
• Estimation of physical properties
• Chemical composition determination
• Stress and structure analysis

By Vertical:

• Aerospace and Defense
• Automotive
• Oil and gas
• Infrastructure
• Power

By Region:

The Asia-Pacific non-destructive testing services market is set to register a growth rate of over 10% from 2019 to 2025, driven by increasing safety regulations and widespread industry standardization. Rapid industrialization in various emerging economies has led foreign companies to expand their operations in the region to take advantage of growth opportunities.

As countries such as China, Japan, and India increase their investments in the defense sector, the use of NDT services is expected to increase. Increased use of renewable energy sources and aging infrastructure have opened several avenues for NDT inspection services. Penetration of NDT services in the region is hampered by the high cost nature of NDT services and the lack of skilled professionals.

North America accounted for more than 20% of the NDT services market share in 2018. This is driven by the introduction of various supportive regulations by the government that oblige businesses to use NDT services. The presence of several refineries and increasing domestic production of natural gas and oil have led to widespread adoption of NDT services. The penetration of various advanced technologies across various industries is also driving the use of NDT solutions.

Significant Market Dynamics:

Drivers

The Internet is much more widely used in industry, which is one of the factors driving the growth of the non-destructive drug testing services market.

Additionally, more and more businesses are relying on renewable energy sources to generate electrical energy to power their operations. This is another key factor driving growth in the market.

Opportunities

Few companies need to use non-destructive drug testing services. That is, the CAGR is high. This is forcing many manufacturers providing these services to invest much more in research and development. The goal is to produce and create a non-destructive drug testing services market service that is far more sensitive and far more effective at detecting trace amounts of drugs in a person's system.

Restraints

These services tend to be expensive. So only large companies can easily afford it.

Challenges

Perhaps the biggest challenge facing manufacturers in this market for non-destructive drug testing services is to provide much better detection of trace amounts of drugs in the human body while providing a more efficient and sensitive service that is relatively inexpensive for most companies.

Non-Destructive Testing Services Market report scope:

Key Takeaways from this Non-Destructive Testing Services Market Report

• Estimate Non-Destructive Testing Services Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Non-Destructive Testing Services Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.