Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Non-Destructive Test (NDT) Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Non-Destructive Test (NDT) Services estimated at US$9.5 Billion in the year 2022, is projected to reach a revised size of US$16.8 Billion by 2030, growing at a CAGR of 7.4% over the analysis period 2022-2030.
Visual Inspection Testing (VT), one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach US$2.5 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Magnetic Particle Testing (mpt) & Electromagnetic Testing segment is readjusted to a revised 7.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.5 Billion, While China is Forecast to Grow at 10.6% CAGR
The Non-Destructive Test (NDT) Services market in the U.S. is estimated at US$3.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2030 trailing a CAGR of 10.6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 6.5% respectively over the 2022-2030 period.
Within Europe, Germany is forecast to grow at approximately 5.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.9 Billion by the year 2030.
Select Competitors (Total 141 Featured) -
- ALS Limited
- Applus+
- Bureau Veritas SA
- Dekra SE
- Intertek Group Plc
- MISTRAS Group, Inc.
- NDT Global
- Nikon Metrology NV
- NVI, LLC
- SGS SA
- TEAM, Inc.
- TUV Rheinland AG
- YXLON International GmbH
- Zetec, Inc.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 636 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.5 Billion |
| Forecasted Market Value (USD) by 2030 | $16.8 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Impact of COVID-19 Pandemic: Key End-Use Industries of NDT Services Confronting Challenging Times
- Construction Industry
- Oil & Gas
- Automotive Industry
- Energy and Power
- An Introduction to Non-Destructive Testing (NDT) Services
- NDT Services: Current Market Scenario and Outlook
- Global Non-Destructive Testing (NDT) Services Market by Service (2021 & 2027): Percentage Breakdown of Revenues for Inspection Services, Equipment Rental Services, Training Services, and Calibration Services
- Global Non-Destructive Testing (NDT) Services Market by End-Use (2021 & 2027): Percentage Breakdown of Revenues for Manufacturing, Oil & Gas, Aerospace & Defense, Construction, Automotive & Transportation, Power Generation, and Other End-Uses
- Recent Market Activity
- Ultrasonic Technique (UT): Largest Category by Technique
- Global Non-Destructive Testing (NDT) Services Market by Technique (2021 & 2027): Percentage Breakdown of Revenues for Visual Inspection Testing (VT), Magnetic Particle Testing (MPT) & Electromagnetic Testing, Liquid Penetrant Testing (LPT), Eddy-Current Testing (ECT), Ultrasonic Testing (UT), Radiography Testing (RT), Acoustic Emission Testing (AET), and Terahertz Imaging (THZ Imaging)
- Magnetic Particle Inspection (MPI) Widens Business Prospects
- Radiographic Testing (RT) Accelerates Market Expansion
- Visual Inspection Testing (VT) Exhibits Faster Growth
- Eddy Current Testing Holds Immense Potential
- While Developed Regions Remain Primary Revenue Contributors, Developing Regions Exhibit Faster Growth
- World NDT Services Market by Region (2021 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
- World NDT Services Market - Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- Non-Destructive Test (NDT) Services - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Manufacturing Sector: Dominant Consumer of NDT Services
- Top 10 Countries in Terms of Manufacturing Output: 2018
- Oil & Gas Enterprises Leverage NDT to Deal with Challenging Environment and Stringent Standards
- A Snapshot of Select NDT Applications in Oil & Gas Upstream, Midstream & Downstream Facilities
- Global Oil & Gas E&P Industry Spending (in US$ Billion) for 2015-2021
- North American E&P Capital Spending in $ Billion by Type of Company (2017-2019)
- NDT Gains Traction in Detecting Imperfections in Aerospace Materials
- Select Applications of NDT in Aerospace Sector: A Snapshot
- Aging Aircraft Widen Addressable Market for Aerospace NDT Services
- Global Average Aircraft Fleet Age (In Years) by Geographic Region/Country for Cumulative Period 2018-2023 and 2023-2028
- Global Commercial Aircraft Fleet Size (in Units) by Aircraft Type for the Years 2018 and 2038
- Global Commercial Aircraft Fleet Size (in Units) by Geographic Region for the Years 2018 & 2038
- COVID-19 Negatively Impacts NDT Demand in Aerospace Sector
- Commercial Airline Revenue Growth (in %) for 2010-2020
- Global Airlines Performance by Region: 2020 Vs 2019
- NDT Comes to the Fore to Ensure Safety of Power Generation Facilities
- Global Electricity Generation in Billion kWh for the Years 2010, 2020, 2030, 2040 and 2050
- Electricity Consumption in Trillion kWh for the Years 2010, 2012, 2014, 2016 and 2018
- China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
- Non-Destructive Testing for Safety of Critical Nuclear Installations
- Inspection in Fossil Fuel Power Infrastructures
- Growing Focus on Renewable Energy Augurs Well
- Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022
- Established Use Case in Automotive Sector to Augment Future Prospects
- Automotive OEMs Rely on NDT to Drive Manufacturing Quality & Uptime
- Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019
- Railway Industry Remains a Niche Market
- NDT in the Era of Industry 4.0
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
- Machine Learning & AI Step In to Bring Broad-based Modifications to NDT
- Technological Advances and Automated NDT Tools Widen Scope & Span of NDT Services Market
- Issues & Challenges
- Need to Comply with Regulations & Standards Steers Adoption of NDT Services
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/yemxad
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