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Non-Destructive Testing Services Market 2020: Worldwide Overview and Forecast to 2023 With Regional Trends and Competitive Landscape By Global Leaders

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Global Non-Destructive Testing Services Market Research Report: By Product, Type (Ultrasonic, Radiography, Liquid Penetrant, Magnetic Particle, Eddy-Current, Visual Inspection), Application, Vertical – Forecast Till 2023

The global non-destructive testing services market is growing by leaps and bounds. Non-destructive testing (NDT) services are garnering rapid popularity due to the need to ensure the prevention of accidents and promote safety for workers during overhauling & maintenance. Besides, the market growth attributes to the rise in demand for improving the quality and longevity of machines drive the growth of the market. Moreover, the growing adoption of NDT services across the major heavy industries escalates market growth.

According to Market Research Future (MRFR), the global non-destructive testing services market is forecasted to grow at 8% CAGR during the assessment period (2017-2023). Technological advances and the spurting increase in renewable energy resources are another primary growth driver for the NDT services market. The proliferation of smart connected devices and the industrial internet of things (IIoT) influences the market growth. Also, stringent government regulations boost the development of the market.

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Substantial R&D investments made in the development of advanced NDT devices impact the growth of the market. On the other hand, increased penetration of rental and leasing services and fluctuating testing equipment prices are the significant factors projected to obstruct the market growth. Nevertheless, the increasing demand for testing methods from manufacturing, power generation, and automotive industries would support market growth throughout the review period.

Global Non-Destructive Testing Services Market – Segmentation

The report is segmented into five dynamics;

By Product : Traditional Non-Destructive Testing Services And Advanced Non-Destructive Testing Services.

By Type      : Ultrasonic, Radiography, Liquid Penetrant, Magnetic Particle, Eddy-Current, Visual Inspection, and others.

By ApplicationFlaw Detection, Leak Detection, Dimensional Measurement, Estimation of Physical Properties, Chemical Composition Determination, Stress & Structure Analysis, and others.

By Vertical : Aerospace & Defense, Automotive, Oil & Gas, Infrastructure, Power, and others.

By Regions : Americas, Europe, APAC, and Rest-of-the-World.

Non-Destructive Testing Services Market – Geographical Analysis

North America dominates the global non-destructive testing services market. The region has a well-established infrastructure, allowing the faster implementation of advanced technologies. The largest market share attributes to the growing demand to ensure safety and efficiency in the production process. Besides, technological advancements and the increased adoption of non-destructive testing service applications across industry verticals drive the growth of the regional market.

US and Canada dominate the regional market due to rising technological enhancements and growing adoption of the industrial internet of things (IIoT) in the region. Moreover, the rising adoption of non-destructive testing services across the end-use industry verticals creates substantial market demand.  Growing developments in the IT and telecom industries and increased adoption of automation in industrial sectors boost the growth of the regional market. The North American NDT services market is poised to retain its dominance throughout the review period.

Europe is another lucrative market for non-destructive testing services globally. The market is driven by the augmented demand for NDT services and the availability of high-quality, non-destructive testing methods and applications. Additionally, technological advances in the field of NDT services and non destructive testing companies in the region increase the market size.

Furthermore, the increasing adoption of automation across the industrial sector acts as another major factor driving the non-destructive testing services market in the region. Simultaneously, the regulatory mandates introduced, alongside a large untapped consumer base, provide impetus to the regional market growth. The European non-destructive testing market is poised to witness s substantial growth over the assessment period.

The Asia Pacific non-destructive testing services market witnesses rapid expansion globally. Factors such as the wide adoption of NDT services and spurting growth in aerospace & defense, automotive, infrastructure, power, and telecommunication industries stimulate the regional market growth. India, South Korea, China, and Japan are the leading markets in the region. The APAC non-destructive testing services market is expected to grow at an impressive CAGR during the review period.

Global Non-Destructive Testing Services Market – Competitive Analysis

Highly competitive, the non-destructive testing services market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players adopt strategies such as mergers & acquisitions, collaborations, and product/technology development. Substantial investments are transpired to develop products and expand global footprints. Most players adopt organic business strategies, whereas tier I & II companies accentuate the inorganic business strategies to achieve their goals.

Major Players: 

Players leading in the non-destructive testing services market are Olympus Corporation (Japan), MISTRAS Group, Inc. (US), GE Inspection Technologies (US), SGS SA (Switzerland), Intertek Group PLC (UK), Olympus Corporation (Japan), Ashtead Technology, Inc. (US), Nikon Metrology, Inc. (US), Sonatest Ltd. (UK), Fujifilm Holdings Corporation (Japan), and Bosello High Technology SRL (Italy), among others.

Industry/ Innovation/ Related News

October 07, 2020 —– Element Materials Technology (the US), a leading global provider of Testing, Inspection, and Certification services for materials and products, confirmed the signing of a framework agreement with a Swedish aerospace & defense company – Saab AB. Under the terms of the deal, Element would carry out calibration, inspection, consultancy work, and materials expertise and testing services at Saab’s onsite facilities over the next six years, with a six-year extension option. Element will also provide a wide range of consultancy services and mechanical, analytical, and non-destructive testing from its laboratory in Linköping, Sweden.

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