DUBLIN, March 11, 2024 /PRNewswire/ — The “Global Non-destructive Testing (NDT) Services Market by Type (Inspection, Training, Others), Method (Radiographic, Ultrasonic, Others), Application (Flaw Detection, Others), End-use Industry (Oil & Gas, Manufacturing, Others) & Geography – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
Exploring Growth Prospects in Non-destructive Testing (NDT) Services Market with Enhanced Inspection and Emerging Technologies
The Non-destructive Testing (NDT) Services Market is poised for significant growth, with a projected market value of $16.83 billion by 2030, demonstrating a CAGR of 8.9% from 2023 to 2030. The market’s expansion is primarily fuelled by rigorous safety and quality regulations, the need for structural integrity assessments for aging infrastructure, and the adoption of advanced NDT techniques in the industrial sector.
Rising Investments and Technology Adoption in NDT Services Market to Propel Global Industry
- Market Segmentation: The extensive analysis segments the market into type, method, application, and end-use industry, offering a detailed understanding of each sector.
- Strategic Market Insights: The report presents an in-depth review of market size, share, trends, and developmental strategies among key players.
- Geographic Evaluation: A thorough assessment provides insights into high-growth regions and country-specific market influences.
- Sector Trends: With advancements in AI and robotics, the industry sees integration of new technologies driving efficiency in NDT services.
- Key Drivers and Opportunities: This research identifies major forces shaping the market landscape and prospective areas for stakeholders.
Manufacturing and Oil & Gas Dominate NDT Services Market; Electromagnetic Testing Displays Robust Growth Trajectory
The manufacturing sector accounts for a significant portion of the NDT services market, while the ultrasonic testing segment leads the methods category in terms of market share. Electromagnetic testing, however, is expected to witness the highest growth over the forecast period. For applications, flaw detection represents the largest market segment, with global focus intensifying on accurate detection and safety measures.
Asia-Pacific Emerges as Major Market; Middle East & Africa to Exhibit Remarkable Growth The Asia-Pacific region is currently dominating the global
NDT services market, and this trend is anticipated to continue, driven by rapid industrialization and burgeoning energy projects. Contrastingly, the Middle East & Africa region is expected to register the highest growth rate, propelled by a strong focus on oil and gas production and infrastructural development.
Industry Leaders and Innovators Pave the Way for NDT Market Advancements
A competitive landscape review reveals that leading service providers are engaging in strategic developments, such as capacity expansions and collaborative initiatives, to strengthen their market positions. These key industry players are leveraging technological advancements and strategic partnerships to provide comprehensive NDT services across various sectors.
Key questions answered in the report-
- What was the historical market for NDT services?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, and opportunities in the NDT services market?
- Who are the major players in the NDT services market?
- What is the competitive landscape like in the NDT services market?
- What are the recent developments in the NDT services market?
- What are the different strategies adopted by the major players in the NDT services market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global NDT services market, and how do they compete with the other players?
Market Insights
Factors Affecting Market Growth
- Stringent Regulations for Public Safety and Product Quality Driving the Demand for NDT Services
- Growing Need to Assess the Structural Integrity of Aging Infrastructure and Assets Supporting Market Growth
- Advanced NDT Techniques Gaining Significance in the Industrial Sector
- High Costs Limiting the Adoption of NDT Services
- Increasing Investments in Infrastructure Projects Creating Opportunities for NDT Service Providers
- Increasing Outsourcing of NDT Processes Expected to Generate Market Growth Opportunities
- Shortage of Trained NDT Professionals Impacting Market Growth
- Increasing Complexity of Machines and Infrastructures Leading to Inaccuracies in NDT Inspections and Results
Trends
- Growing Use of Robots for NDT
- Integration of AI Technology in NDT Processes
Case Studies
- SGS SA Performed NDT for West African Ventures Ltd’s Escravos Gas Project in Nigeria.
- Applus Services, S.A. Performed NDT for the Gulf Coast Express Pipeline Project.
- Vertech Group Performed NDT for the Gladstone LNG Project.
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
- Market Ranking by the Key Players
Company Profiles
- SGS SA (Switzerland)
- Bureau Veritas (France)
- DEKRA SE (Sweden)
- Intertek Group plc (U.K.)
- TUV Rheinland (Germany)
- MISTRAS Group Inc. (U.S.)
- TEAM Inc. (U.S.)
- Waygate Technologies (Germany)
- Element Materials Technology (U.K.)
- Applus Services S.A. (Spain)
- TUV SUD AG (Germany)
- Acuren (U.S.)
- Applied Technical Services LLC (U.S.)
- Siemens Energy AG (Germany)
- PTS Group (U.K.)
- Vertech Group (Australia)
- TWI Ltd. (U.K.)
- NDT Group Inc. (Canada)
- Axess AS (Norway)
- Control Union (Netherlands)
- Testia (France)
Scope of the report:
Non-destructive Testing (NDT) Services Market Assessment – by Type
- Inspection Services
- Training Services
- Calibration and Evaluation Services
- Equipment Rental Services
- Consulting Services
Non-destructive Testing (NDT) Services Market Assessment – by Method
- Visual Testing
- Ultrasonic Testing
- Automated Ultrasonic Backscatter Testing
- Phased Array Ultrasonic Testing
- Long Range Ultrasonic Testing
- Internal Rotating Inspection Systems
- Time-of-Flight Diffraction Testing
- Dry-coupled Ultrasonic Testing
- Rapid Ultrasonic Gridding Testing
- Liquid Penetrant Testing
- Radiographic Testing
- Conventional Radiography
- Digital Radiography
- Automated Radiographic Testing
- Electromagnetic Testing
- Remote Field Testing
- Eddy Current Testing
- Alternating Current Field Measurement
- Magnetic Particle Testing
- Magnetic Flux Leakage Testing
- Acoustic Emission Testing
- Other Methods
Non-destructive Testing (NDT) Services Market Assessment – by Application
- Flaw Detection
- Dimensional Measurement
- Chemical Composition Determination
- Stress and Structure Analysis
- Physical Properties Estimation
Non-destructive Testing (NDT) Services Market Assessment – by End-use Industry
- Manufacturing
- Oil & Gas
- Downstream Processes
- Upstream Processes
- Midstream Processes
- Public Infrastructure
- Healthcare and Medical Devices
- Power Generation
- Aerospace
- Supply chain and transportation
- Military & Defense
- Water & Waste Management
- Other End-use Industries
Non-destructive Testing (NDT) Services Market Assessment – by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/cq44r
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