Status : Published Published On : Jan, 2021 Report Code : VRSME9031 Industry : Semiconductor & Electronics Available Format : Page : 167
2022
2030

Global Non-Destructive Testing and Inspection Market – Analysis and Forecast (2022–2030)
Industry Insights by Technique (Ultrasonic Testing, Visual Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, Acoustic Emission Testing, Others), by Method (Visual Inspection, Surface Inspection, Volumetric Inspection, Others), by Services (Inspection Services, Training Services, Equipment Rental Services, Calibration Services), by Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, Others)

Industry Overview

The market for non-destructive testing and inspection is expected to reach $12.84 billion by 2030, rising at a CAGR of 7.1% over the forecast period, from $8.3 billion in 2021. The increasing adoption of IoT devices, strict government regulations regarding public safety and product quality, the surging need to evaluate the health of aging people, and ongoing improvements in electronics, automation, and robotics are the driving forces behind the growth in demand for non-destructive testing and inspection.

Non-Destructive Testing and Inspection Market Highlights

Market Segmentation

Insight by Technique

The global non-destructive testing and inspection market, based on technology, is classified into an ultrasonic, magnetic particle, optical, liquid penetrant, radiographic, eddy-current, acoustic emission, and others. Due to its capability to recognize faults and precisely assess their severity, the ultrasonic testing category is expected to contribute the most to the market in the coming years.

Insight by Method

Visual inspection, volumetric inspection, surface inspection, and other categories make up the global market for non-destructive testing and inspection, based on the method.

Insight by Services

Inspection services, equipment rental services, training services, and calibration services make up the global non-destructive testing and inspection market. The inspection services category is predicted to remain dominant during the study period among all categories in the market.

Insight by Vertical

The manufacturing, aerospace, oil and gas, public infrastructure, power generation, automotive, and other verticals make up the global market for non-destructive testing and inspection. Among these, the oil and gas sector is projected to continue dominating the market throughout the study period. This is because the oil and gas sector has historically employed non-destructive testing and inspection for inspection purposes to find cracks in pipes, both elevated and underground.

Additionally, technologies for non-destructive testing and inspection are utilized in the production of aircraft, defense equipment, and automobiles. Due to the steadily rising volume of production around the world, the manufacturing sector is expected to experience the quickest growth during the projection period.

Digital Twin Market Report Coverage

Report Metric

Details

Historical Period

2018–2021

Base Year Considered

2021

Forecast Period

2022 - 2030

Market Size in 2021

$8.3 Billion

Revenue Forecast in 2030

$12.84 Billion

Growth Rate

CAGR 7.1%

Segments Covered in the Report

     By Technique, By Method, By Services, By Vertical

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Covid-19, Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and the Rest of the World

 

Industry Dynamics

Growth Drivers

The main drivers propelling the growth of the global market for non-destructive testing and inspection include the growing uptake of IoT devices, the increasing demand for evaluations of the condition of aged assets, strict government oversight of public safety and product standards, the rising use of NDT and inspection tools and services in the industrial sectors of robotics, automation, and electronics, and the increased demand for ASICs.

The global COVID-19 pandemic has had a significant negative influence on the industry for non-destructive testing and inspection. Depending on how the virus spreads in various parts of the world, sales of non-destructive testing and inspection tools and services for significant industries like oil & gas and aerospace are predicted to fall globally by 12–16% in the fiscal year 2020.

Challenges

The biggest challenges faced by non-destructive testing and inspection manufacturers include the decline in new oil and exploration projects, temporary stoppage of production facilities, and a decline in crude oil prices.

Opportunities

The market offers several opportunities to players, due to the following reasons:

  • Significant advancements in infrastructure across APAC, Europe, and Latin America
  • New applications and technological developments in NDT and inspection methods
  • Increasing demand from the power generation industry for NDT and inspection services

 

Geographic Overview

Geographically, the market for non-destructive testing and inspection is expanding most quickly in the APAC region, due to the rising R&D spending and the expanding manufacturing and electronics industries. In comparison to other regions, APAC countries, particularly China, Taiwan, Japan, South Korea, and India, are experiencing a growth in the adoption of non-destructive testing and inspection products and solutions.

Competitive Insight

Some of the key players operating in the global non-destructive testing and inspection market are Olympus Corporation, General Electric, MISTRAS Group, Ashtead Technology, Nikon Metrology, YXLON International, and T.D. Williamson Inc., Sonatest, Zetec Inc., and Bosello High Technology Srl.

The most recent inspection technologies are offered by Olympus NDT solutions. It offers a wide range of products, such as defect detectors, transducers, thickness gauges, and probes. Olympus specializes in popular NDT techniques: conventional ultrasonic, eddy current array, phased array and phased array using the total focusing method (TFM)/full matrix capture (FMC). Olympus' non-destructive testing products and machinery are adaptable and contain a wide range of measurement features that can conduct important testing.

Non-destructive testing (NDT) inspection is an area in which MISTRAS Group leads the market and offers a wide variety of NDT solutions. Advanced non-destructive testing (ANDT) inspection solutions are implemented by certified professionals through MISTRAS, which also offers high accuracy and comprehensive asset integrity data.

Recent Development by Key Players

New Century Software (US), a top supplier of software and services for managing pipeline integrity to energy transportation industries, was bought by MISTRAS Group in September 2019.

Olympus Corporation introduced the DSX1000 digital microscope in June 2019. It considerably enhances users' inspection process and enables the study of a wide range of samples with a single tool.

Avitas Systems, a GE Venture, and Limelight Networks, Inc. worked together in January 2018 to implement Avitas' next-generation, automated inspection platform over Limelight Networks' private network and distributed cloud architecture. Users can continue to gain from the use and capability of GE's Predix application services suite thanks to Avitas Systems Platform's use of GE's Predix Edge solution.

Olympus unveiled the IPLEX G Lite ultra-portable industrial videoscope in May 2018. It is useful for checking pipelines and difficult-to-reach regions of aircraft. The gadget is incredibly effective and simple to use.

Forecast Parameters

•   Identifying variables and establishing market impact.
•   Establishing market trends regionally.
•   Analyzing opportunities and market penetration rates by understanding product commercialization, and regional expansion.
•   Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
•   Analyzing sustainability strategies adhered to by market participants in an attempt to determine the future course of the market.
•   Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trends.
•   Understanding adoption, development, distribution, and regulatory framework.

Data Validation

•   Estimated and forecasted data was validated through industry experts.
•   Apart from industry experts, data triangulation methods were used for validation.
• Bottom-up and top-down approach has been used for estimation and forecast of market data, whereas the top-down approach was used for validation.
•   Demand, as well as supply side surveys, were conducted in order to understand the industry dynamics and data validation.

Research Phases

Non-Destructive Testing and Inspection Market Research Phases

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

Non-Destructive Testing and Inspection Market Size

Source: VynZ Research

Non-Destructive Testing and Inspection Market Analysis

Source: VynZ Research

The Non-Destructive Testing and Inspection Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.

Segments Covered in the Report

  • By Technique
    • Ultrasonic Testing
    • Visual Testing
    • Magnetic Particle Testing
    • Liquid Penetrant Testing
    • Eddy-Current Testing
    • Radiographic Testing
    • Acoustic Emission Testing
    • Others
  • By Method
    • Visual Inspection
    • Surface Inspection
    • Volumetric Inspection
    • Others
  • By Services
    • Inspection Services
    • Training Services
    • Equipment Rental Services
    • Calibration Services
  • By Vertical 
    • Manufacturing
    • Oil & Gas
    • Aerospace
    • Public Infrastructure
    • Automotive
    • Power Generation
    • Others

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries

Frequently Asked Questions

The global non-destructive testing and inspection market is estimated to be USD 8.3 billion in 2021 and is predicted to reach USD 12.84 billion by 2030.
General Electric, Olympus Corporation, MISTRAS Group, Nikon Metrology, Ashtead Technology, YXLON International, Sonatest, Zetec, Inc., T.D. Williamson Inc., and Bosello High Technology srl are the major companies in the Non-Destructive Testing and Inspection Market.
The segments of the Non-Destructive Testing and Inspection Market report include Technique, Method, Services, Application, and Region

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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