The non-destructive testing market was valued at $14.81 billion. in 2021 and is expected to reach $24.70 billion. to 2029, with a CAGR of 6.6% over a forecast period.
Non-Destructive Testing Market Overview
The overall global market for The non-destructive testing market was valued at USD in 2022 and is expected to grow at a percent CAGR during the forecast period to reach USD by 2029. The report analyzed by Maximize Market Research, on the Non-Destructive Testing market, covers an extensive regional analysis and competitive landscape.
Non-Destructive Testing Market Report Research Scope and Methodology
Detailed segment analysis provides clear information on the potential of the Non-Destructive Testing Market. The report provides investors with a comprehensive overview of the future of the Non-Destructive Testing industry, as well as the elements expected to positively and negatively impact the market. For competitive analysis, the report includes market leaders, followers, and new entrants in the Non-Destructive Testing Industry with information on strategies, revenue, partnership, joint ventures, etc.
The Non-Destructive Testing Market report provides qualitative and quantitative analysis of market size, pricing, demand, mergers & acquisitions, supply chain, investments, and expansion plans by key competitors and forecasts. For competitive analysis, the report includes market leaders, followers, and new entrants in the Non-Destructive Testing Industry with information on strategies, revenue, partnership, joint ventures, etc. The bottom-up approach was used to estimate the market size of non-destructive testing. To collect the data for the Non-Destructive Testing Market report, both primary and secondary data collection methods were used. To provide strengths and weaknesses of key players of Non-Destructive Testing, SWOT analysis was used. PESTLE was used to present the potential impact of macroeconomic and microeconomic factors affecting the Non-Destructive Testing industry.
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Regional Non-Destructive Testing Market Insights
The report includes a thorough analysis of all factors, market size, growth rate, and import and export by regions. To understand the status of the non-destructive testing market in several countries, regional analysis has been used in the report. The Non-Destructive Testing market is broadly segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Non-Destructive Testing Market Segmentation
Based on supply, the services category led the market in 2021, accounting for 74.8% of the total revenue and is likely to continue to do so throughout the forecast period. The high initial cost of non-destructive testing equipment, combined with the technical hurdles associated with its vertical/installation, is the main reason why end users outsource non-destructive testing. Lack of competent workers to do non-destructive testing is another limitation limiting new installations of non-destructive testing equipment worldwide.
Based on testing methods, in 2021, the ultrasonic testing segment dominated the market, accounting for 24.7% of total revenue. Approximately during the projection period, the segment is expected to grow at a CAGR of over 7.7%, making it the fastest growing test technique segment. This increase can be attributed to the increasing use of ultrasonic detectors in manufacturing operations. When compared to typical non-destructive testing techniques, ultrasonic detectors are portable, easy to use and provide accurate results. As a result, ultrasound testing is becoming more widely used and this trend is expected to continue in the coming years.
with the test method
• Visual testing
• Magnetic particle testing
• Testing of liquid penetrants
• Eddy current testing
• Ultrasound testing
• Radiographic testing
• Oil and Gas
• Aerospace and defense
• Power generation
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Key players of the non-destructive testing market
• Mistras Group Inc.
• Olympus Corporation
• GE Measurement & Control Solutions
• Nikon Corporations
• Ashtead Technology
• Magnaflux Corporation
• Zetec Inc.
• Sontest Ltd.
• Sonotron NDT
• Bosello High Technology SRL
• Fischer Technology, Inc.
• Ultrasonic JSR
• Source Production & Equipment Co., Inc.
• Airstar Inc.
• AMDATA products (WesDyne)
• Plus RTD
• AT-Automation Technolo.
• BALTEAU NDT
• Canadian NDE Institute
• Control measurement systems
• Cygnus Instruments Ltd.
The key questions answered in the Non-Destructive Testing Market are:
- What is non-destructive testing?
- What was the size of the Non-Destructive Testing market in 2023?
- What is the growth rate of Non-Destructive Testing Market?
- What are the factors expected to drive the growth of the Non-Destructive Testing market?
- What are the different segments of the Non-Destructive Testing Market?
- What growth strategies are players considering to increase their presence in Non-Destructive Testing?
- What are the future applications and industry trends for Non-Destructive Testing Market?
- What is the demand pattern of Non-Destructive Testing Market?
- What major challenges might the Non-Destructive Testing Market face in the future?
- Which Segments Are Covered in the Non-Destructive Testing Market?
- Who are the leading companies and what are their portfolios in the Non-Destructive Testing Market?
- Which Segments Are Covered in the Non-Destructive Testing Market?
- Who are the key players in the Non-Destructive Testing market?
- Previous Market Size and Competitive Landscape (2018-2022)
- Past prices and price curve by region (2018-2022)
- Market Size, Share, Size & Forecast by Various Segments | 2023−2029
- Market dynamics – growth drivers, restraints, opportunities and key trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive Landscape – Market Leaders, Market Followers, Regional Player
- Competitive Comparison of Key Players by Region
- PESTLE analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal aspects of business by region
- Profitable business opportunity with SWOT analysis
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