Non-Destructive Testing and Inspection Market by Vertical, Technique (Magnetic Particle, Visual Testing, Eddy-Current, Ultrasonic, Liquid Penetrant, Acoustic Emission, Radiographic), Method, Service, Geography – 2024 to 2029

SKU: GMS-4079

Format: PDF

Overall Rating
4.5/5

OVERVIEW

A recent report by Global Market Studies has revealed that the Non-Destructive Testing (NDT) and Inspection Market is projected to reach USD17.5 billion by year 2028, growing at a CAGR of almost 8% over the forecast period 2023 to 2028. Growing demand for NDT inspection services in the power generation industry, rigorous government regulations relating to safety and product quality, and technical breakthroughs providing new application areas for NDT are likely to drive the market during the projected period. 

Non-destructive testing (NDT) refers to a suite of testing and analysis techniques used by industry to inspect and evaluate the properties of a material, component, structure or system for differences, defects and discontinuities without permanently altering it. NDT inspection techniques include ultrasonic testing, magnetic particle testing, liquid penetrant testing and radiographic testing among others. The methods include surface inspection, volumetric inspection and visual inspection. Non-destructive testing finds applications across multiple industry verticals.

Market Dynamics

Drivers & Opportunities:

Increased adoption of NDT and inspection techniques and services in the sectors of electronics, automation and robotics industrial segments is driving this market. Technological advancements such as giant magnetoresistance (GMR) sensing, numerical simulation and infrastructure advances in developing regions are factors contributing to growing adoption of non-destructive testing. The increased adoption of robotics has also opened unlocked new opportunities for the sector. To combat the issue of aging infrastructure in high-risk assets such as aircraft, roads, buildings, there is increased implementation of risk-based inspection and advanced simulation tools which is driving market growth.  

Restraints & Challenges:  

Strict government regulations have been prescribed in recent years to ensure product safety, structural integrity, public safety and worker wellbeing. A lack of qualified workforce with industry-appropriate NDT skillsets to meet stringent government regulations and complex inspection techniques is likely to impact this market. The high cost of testing equipment, lack of awareness of new innovations and a lack of skilled workforce is expected to be a challenge in the growth of this market. Further, the COVID-19 pandemic has had a negative impact on the growth of the NDT inspection market, particularly on the airline industry. 

Key Companies Featured:

Incumbents of the market remain keen on increasing their market share. Rise in technological advancements, growing spends on safety-related and structural integrity-related protocols, product launches, new investments and mergers and acquisitions are some of the pathways being adopted by key industry players. 

Key players in the NDT Inspection Market include General Electric, MISTRAS Group Inc., Olympus Corporation, Nikon Metrology Inc, Magnaflux Corporation, Zetec Inc., Eddfyi Technologies, YXLON International GmbH, Sonatest Ltd., Carestream Health, Intertek Group Plc, Ashtead Technology, Williamson Inc, Bosello High Technology, Cygnus Instruments and SGS SA. 

Report Coverage:

This report will help you understand competitive benchmarking, historical data & forecasts, company revenue shares, regional opportunities and latest market trends and dynamics. 

Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

Share

Get A Free Sample

Take a look at this complimentary sample which comprises of a variety of market data points such as trend analyses, market estimates, and forecasts. You can explore and evaluate it on your own.

Send me Free Sample

Or View Our License Options:

$3,850.00$5,850.00

Why

Industry Coverage: Global Market Studies has a broad range of industry coverage, spanning various sectors such as healthcare, technology, retail, automotive, and many others. This means that clients can rely on us to provide valuable insights into their respective industries, helping them make informed business decisions.

Our team of experts has years of experience in the market research industry, and they have honed their skills in data analysis, market forecasting, and trend analysis. They are also adept at using advanced research tools and techniques to gather and analyze data, providing clients with accurate and reliable insights.

We understand that each client has unique research needs, and we tailor our research solutions to meet their specific requirements. We work closely with our clients to understand their objectives and provide customized research solutions that address their business challenges.

We are committed to innovation and are constantly exploring new research methods and techniques to provide our clients with cutting-edge insights. This enables us to stay ahead of the curve and deliver the best possible research outcomes.

At Global Market Studies, our clients are at the center of everything we do. We pride ourselves on providing excellent customer service and support, and we are always available to address our clients’ concerns and questions.

83422+ Reports Delivered

Accurate market data is crucial to a successful business strategy. With an 85% + accuracy in all reports, makes us one of the best and most accurate firms in the world.

Need Customized Report ?Call Now

OVERVIEW

A recent report by Global Market Studies has revealed that the Non-Destructive Testing (NDT) and Inspection Market is projected to reach USD17.5 billion by year 2028, growing at a CAGR of almost 8% over the forecast period 2023 to 2028. Growing demand for NDT inspection services in the power generation industry, rigorous government regulations relating to safety and product quality, and technical breakthroughs providing new application areas for NDT are likely to drive the market during the projected period. 

Non-destructive testing (NDT) refers to a suite of testing and analysis techniques used by industry to inspect and evaluate the properties of a material, component, structure or system for differences, defects and discontinuities without permanently altering it. NDT inspection techniques include ultrasonic testing, magnetic particle testing, liquid penetrant testing and radiographic testing among others. The methods include surface inspection, volumetric inspection and visual inspection. Non-destructive testing finds applications across multiple industry verticals.

Market Dynamics

Drivers & Opportunities:

Increased adoption of NDT and inspection techniques and services in the sectors of electronics, automation and robotics industrial segments is driving this market. Technological advancements such as giant magnetoresistance (GMR) sensing, numerical simulation and infrastructure advances in developing regions are factors contributing to growing adoption of non-destructive testing. The increased adoption of robotics has also opened unlocked new opportunities for the sector. To combat the issue of aging infrastructure in high-risk assets such as aircraft, roads, buildings, there is increased implementation of risk-based inspection and advanced simulation tools which is driving market growth.  

Restraints & Challenges:  

Strict government regulations have been prescribed in recent years to ensure product safety, structural integrity, public safety and worker wellbeing. A lack of qualified workforce with industry-appropriate NDT skillsets to meet stringent government regulations and complex inspection techniques is likely to impact this market. The high cost of testing equipment, lack of awareness of new innovations and a lack of skilled workforce is expected to be a challenge in the growth of this market. Further, the COVID-19 pandemic has had a negative impact on the growth of the NDT inspection market, particularly on the airline industry. 

Key Companies Featured:

Incumbents of the market remain keen on increasing their market share. Rise in technological advancements, growing spends on safety-related and structural integrity-related protocols, product launches, new investments and mergers and acquisitions are some of the pathways being adopted by key industry players. 

Key players in the NDT Inspection Market include General Electric, MISTRAS Group Inc., Olympus Corporation, Nikon Metrology Inc, Magnaflux Corporation, Zetec Inc., Eddfyi Technologies, YXLON International GmbH, Sonatest Ltd., Carestream Health, Intertek Group Plc, Ashtead Technology, Williamson Inc, Bosello High Technology, Cygnus Instruments and SGS SA. 

Report Coverage:

This report will help you understand competitive benchmarking, historical data & forecasts, company revenue shares, regional opportunities and latest market trends and dynamics. 

Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

Download our eBook: Market Mastery

Unleashing revenue potential through strategic market research involves identifying untapped market opportunities, understanding consumer needs and preferences, and developing targeted strategies to capitalize on them. By leveraging data-driven insights, businesses can optimize product offerings, pricing strategies, and marketing efforts to drive revenue growth and stay ahead of competitors.

Related Research Reports