Global Non-Destructive Test (NDT) Services Market Report 2021-2026: Visual Inspection Testing is Projected to Account for $2 Billion of the Total $12.6 Billion Industry
DUBLIN, Nov. 25, 2021 /PRNewswire/ -- The "Non-Destructive Test (NDT) Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Non-Destructive Test (NDT) Services Market to Reach $12.6 Billion by 2026
Global market for Non-Destructive Test (NDT) Services estimated at US$8.6 Billion in the year 2020, is projected to reach a revised size of US$12.6 Billion by 2025, growing at a CAGR of 6.6% over the analysis period.
NDT methods are non-invasive techniques of measurement drawn from diverse fields such as engineering, medicine, radar, sonar, and geographical prospecting. NDT methods range from simple visual inspection techniques to advanced and specialized techniques such as positron annihilation and Barkhausen noise measurement. Other prominent methods include radiography, magnetic particle inspection, penetrant inspection, laser holography, eddy current testing, and ultrasonic testing.
Stringent product usage specifications that industries have to adhere to, strong government safety regulations mandating safety of personnel and workplace where a range of physical assets are used, and tight quality control requirements that govern industries especially are expected to drive long term demand for NDT services.
Furthermore, growing complexity of processes and products that require continuous inspection and testing has a bearing on market growth. At the same time, issues and challenges associated with in-house NDT departments also favor the market. High up-front costs of equipment, shortage of trained personnel, lack of full-scale training facilities for advanced equipment, and pollution and operator safety concerns are some of the issues that encourage enterprises to prefer third party NDT services.
While ultrasonic, radiography and eddy-current testing have been the traditional NDT techniques that have achieved tremendous success over the years, new technologies such as X-Ray computed tomography, phased array ultrasonic and computed radiography are expected to grow in prominence in the upcoming years.
Remote visual inspection is also achieving considerable attention, with aerospace sector especially mandating use of the NDT service for range of applications. Advancements in sensors, automation and semiconductor technologies are also helping transform NDT as an integral part of integrity solution, asset management and decision making tools.
Developments in nanomaterials and advanced components and use of same for manufacturing a range of structure components will also help drive demand for NDT services to test these materials and structures developed using these materials.
The Non-Destructive Test (NDT) Services market in the U.S. is estimated at US$3.3 Billion in the year 2021. The country currently accounts for a 37.44% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2026 trailing a CAGR of 9.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the close of the analysis period.
2. FOCUS ON SELECT PLAYERS (Total 141 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/1plioj
Research and Markets
View original content:https://www.prnewswire.com/news-releases/global-non-destructive-test-ndt-services-market-report-2021-2026-visual-inspection-testing-is-projected-to-account-for-2-billion-of-the-total-12-6-billion-industry-301432152.html
SOURCE Research and Markets
Smart Traffic - Keeping Things Moving
Setting the Stage for 6G
Presentation Details TBA