Global Non-Destructive Test (NDT) Services Strategic Business Report 2023: NDT Comes To The Fore To Ensure Safety Of Power Generation Facilities

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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

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Attachment

• global market for non-destructive test (ndt) services

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