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The non-destructive testing (NDT) equipment market size is forecast to increase by USD 866 million at a CAGR of 5.79% between 2023 and 2028. The market is experiencing significant growth due to several key trends. The increase in oil and gas and power generation projects worldwide is driving the demand for NDT techniques to ensure the integrity and safety of infrastructure. Another trend is the rising demand for ultrasonic testing equipment, which offers high accuracy and versatility in detecting defects in various materials. Additionally, the growing availability of pre-used variants of NDT equipment is making it more accessible and cost-effective for businesses. These factors are expected to boost the market growth in the coming years.
The market is witnessing significant growth due to the increasing demand for fault detection in manufacturing activities. NDT processes, including ultrasonic equipment and radiographic testing equipment, play a crucial role in ensuring the quality and integrity of materials, components, and structures. The market is driven by various factors, such as urbanization, the need for advanced inspection techniques in the aerospace and defense industry, and the expansion of the oil & gas and power generation sectors. Robotics, automated crawlers, and drones are emerging technologies in the NDT market, offering benefits such as increased efficiency and improved accuracy. The services segment and the equipment segment are the major revenue contributors to the NDT market. Traditional NDT methods continue to dominate, but the market is witnessing a shift towards advanced NDT techniques to meet the evolving needs of various industries.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The oil and gas segment is estimated to witness significant growth during the forecast period. NDT equipment plays a crucial role in ensuring the integrity of pipelines in the oil and gas industry, particularly in sectors such as upstream, midstream, and downstream. These sectors heavily rely on pipelines as an economical and efficient means of transporting oil and gas, making their maintenance and inspection essential. Pipelines are susceptible to various defects, including wear and tear, corrosion, and cracks, which can lead to potential failures, accidents, and significant losses. NDT equipment facilitates field inspections in remote locations and ease of use, enabling the detection of these defects. Lightweight and ergonomic designs, along with mobility, are essential features for NDT instruments used in such inspections.
Probes, such as rotary transformers and eddy current signals, are integral components of NDT equipment, providing valuable data for identifying defects. Advancements in technology have led to innovations like drone inspections using unmanned aerial vehicles (UAVs) equipped with cameras, sensors, and high-resolution images. Strategic partnerships, collaborations, and product developments are driving factors in the NDT market. Safety regulations and governments' regulatory bodies are increasingly focusing on the use of NDT equipment to ensure public health, environment, and structure safety. Computed Tomography (CT) and phased array ultrasonic techniques are some of the advanced NDT methods used for pipeline inspections. Remote Visual Inspection (RVI) is another technique that utilizes high-definition cameras and sensors to inspect pipelines without the need for physical access. These methods provide valuable data for quality assurance and help prevent accidents and potential failures.
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The Oil and Gas segment was valued at USD 649.50 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing significant growth due to the increasing demand for quality assurance in various end use industries. The ease of use, mobility, and ergonomic design of NDT instruments make them ideal for field inspections in remote locations. Lightweight and portable equipment, such as rotary transformers and probes, enable inspectors to detect defects and potential failures in structures, pipelines, and other critical infrastructure. Advancements in technology have led to innovations like eddy current signals, variable speed, and torque control in NDT instruments. Companies like UniWest are driving the market with strategic partnerships, collaborations, and product developments. Drone inspections using unmanned aerial vehicles equipped with cameras, sensors, and remote visual inspection systems provide high-resolution images for comprehensive inspections.
Safety regulations and government initiatives are key driving factors for the NDT market. Regulatory bodies highlights the importance of NDT in ensuring the integrity of structures, pipelines, and other critical infrastructure to prevent accidents and protect public health and the environment. Computed Tomography, phased array ultrasonic, and remote visual inspection techniques are essential for ensuring the safety and reliability of various industries, including oil and gas, power generation, and transportation.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in oil and gas and power generation projects is the key driver of the market. Non-Destructive Testing (NDT) plays a crucial role in various industries, including oil and gas, manufacturing, aerospace, public infrastructure, and automotive, ensuring the safety and integrity of equipment and structures. NDT encompasses various inspection methods, such as visual, surface, volumetric, and advanced techniques like ultrasonic testing, magnetic particle testing, liquid penetrant testing, eddy-current testing, radiographic testing, and acoustic emission testing. These methods help detect flaws, corrosion, and other defects without damaging the tested components. NDT service providers offer equipment sales, rental, calibration, training, and method analysis services to cater to diverse industry requirements. In the oil and gas sector, NDT is essential for assessing the safety of petroleum refining and extraction operations.
Moreover, the ultrasonic and eddy current NDT equipment are indispensable for inspecting welds and metals in pipelines and pressure vessels to prevent hazardous chemical leaks. Effective NDT solutions are vital for maintaining a safe, efficient, and profitable oil and gas operation. Upstream solutions ensure the integrity of extracted crude oil and gas containers, while midstream solutions keep pipelines and transportation functioning smoothly. NDT's role extends to the manufacturing sector, where it ensures product quality and safety, and the aerospace industry, where it guarantees the safety of aircraft components. Public infrastructure and automotive industries also rely on NDT to maintain the safety and longevity of their structures and vehicles.
The rising demand for ultrasonic testing equipment is the upcoming trend in the market. The market encompasses various techniques and services, including visual inspection, surface inspection, volumetric inspection, and method analysis. Ultrasonic testing, a popular volumetric technique, utilizes high-frequency sound waves to detect defects. Its advantages over radiography include measuring defect height accurately, detecting planar flaws better, not emitting radiation, generating no waste material, and not using chemicals.
Furthermore, ultrasound testing is increasingly replacing radiography in industries like oil & gas, manufacturing, aerospace, public infrastructure, and automotive, as per approved codes from regulatory organizations such as ASME and API. Additionally, NDT services include inspection, training, calibration, and equipment rental. Methods like magnetic particle testing, liquid penetrant testing, eddy-current testing, and radiographic testing, among others, are also integral to the NDT market. Acoustic emission testing is another technique used for detecting damage in structures and materials.
The growing availability of pre-used variants of NDT equipment is key challenge affecting the market growth. The market is witnessing an increasing demand for pre-owned NDT equipment due to cost constraints among end-users. While companiess focus on innovating new NDT solutions, not all end-users can afford to invest in updated equipment. Pre-used NDT equipment, available at significantly lower costs, is gaining popularity among end-users in various industries such as oil & gas, manufacturing, aerospace, public infrastructure, automotive, and power generation.
Furthermore, end-users can source pre-owned NDT equipment through various channels like advertisements in print media and online portals. This trend towards pre-owned NDT equipment may negatively impact the sales of new units, potentially hindering market growth during the forecast period. NDT services including inspection, training, calibration, and equipment rental, along with method analysis in techniques such as visual inspection, surface inspection, volumetric inspection, ultrasonic testing, magnetic particle testing, liquid penetrant testing, eddy-current testing, and radiographic testing, remain in high demand across industries. The market is further segmented based on the type of testing techniques, end-users, and regions.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cygnus Instruments Ltd. - The company offers radiographic, and CT applications. The company also offers ultrasonic thickness gauges, ultrasonic hatch cover testing, ultrasonic tightness testing and flooded member detection equipment.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth due to the increasing demand for fault detection in manufacturing activities. NDT processes are essential for identifying internal defects, surface irregularities, and weaknesses in materials, components, structures, and physical properties without causing damage. The market is driven by various industries, including aerospace and defense, automotive, oil and gas, construction, power generation, infrastructure, and others. Urbanization and the need for infrastructure maintenance are also contributing to the market's growth. NDT techniques, such as ultrasonic equipment, robotics, automated crawlers, and drones, are becoming increasingly popular for inspecting hard-to-reach areas and large structures.
Furthermore, the NDT market can be segmented into services and equipment. The equipment segment includes portable devices and handheld NDT devices, which offer flexibility and ease of use. NDT inspection, examination, and evaluation techniques are crucial for ensuring the safety and reliability of various products and structures. Engineers and technicians rely on NDT to detect and address flaws and irregularities, ensuring the integrity of materials and components.
Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.79% |
Market growth 2024-2028 |
USD 866 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.39 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Russia, UK, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acuren, Ashtead technology Ltd., Carl Zeiss AG, Cygnus Instruments Ltd., Eddyfi Technologies, FPrimeC Solutions Inc., FUJIFILM Corp., General Electric Co., HELMUT FISCHER GMBH, Illinois Tool Works Inc., Labquip NDT Ltd., Mistras Group Inc., MME Group, Nikon Corp., Olympus Corp., Roper Technologies Inc., Sonatest Inc., TWI Ltd., YXLON International GmbH, and Zetec Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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