by The global Non-Destructive Testing Market is estimated to be valued at US$ 7902.72 Mn or Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Non-Destructive Testing techniques are used to evaluate the properties of a material, component or system without causing damage. They include visual, ultrasonic, magnetic particle, radiographic, eddy current tests etc. These tests help detect hidden flaws or evaluate material properties and integrity.
Market key trends:
One of the major trends in the Non-Destructive Testing market is the increased adoption of digital radiography systems. Traditional radiography systems are being replaced by digital radiography systems as they provide improved image quality, enhance productivity and reduce waste. Digital radiography delivers accurate, high-quality images instantly and eliminates the need for chemicals during image processing.They also facilitate easy sharing of test results through network connectivity. This shift towards digital radiography from traditional systems is expected to drive the Non-Destructive Testing market growth over the forecast period.
SWOT Analysis:
- Strength: The non-destructive testing market possesses advanced technologies that allow inspecting materials and components without causing damage. It helps ensure safety and quality assurance in many industries.
- Weakness: Heavy reliance on skilled professionals. NDT techniques require experienced technicians to efficiently operate complex equipment and interpret test results. Shortage of qualified personnel can hamper market growth.
- Opportunity: Emerging applications in new industries like 3D printing, nano-materials, and renewable energy sources present significant opportunities. Advancements in ultrasonic and digital radiography methods also expand the scope for applications.
- Threats: Presence of low-cost alternatives may threaten the non-destructive testing market. Some traditional destructive testing methods continue to be adopted that replace the need for advanced NDT technologies.
Key Takeaways:
The Global Non-Destructive Testing Market Demand is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing safety concerns across industries. Stringent quality controls and regulations mandate regular inspection of critical infrastructure and components using advanced NDT methods.
Regional analysis:
North America dominates the non-destructive testing market, with the U.S. being the major contributor. Stringent government policies for pipeline and plant safety inspection drive significant demand. Asia Pacific exhibits the fastest growth due to growing construction, automotive, and energy industries in China, India, and other developing nations. Increasing foreign investments and establishment of manufacturing facilities will propel the regional market.
Key players:
Key players operating in the non-destructive testing (NDT) market are Tech4Imaging LLC, SGS SA, ROSEN Group, Acuren Group Inc., Olympus Corporation, Mistras Group Inc., Intertek Group PLC, Applus Services SA, Infrastructure Preservation Corporation, Bureau Veritas SA, and FLIR Systems Inc. They provide a wide range of NDT equipment and offer testing services to end-use industries globally. Strategic partnerships and collaborations remain key strategies to strengthen market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
