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NDT and Inspection Market with COVID-19 Impact by Technique, Method, Service, Vertical And Region - Global Forecast to 2025

NDT and Inspection Market with COVID-19 Impact by Technique, Method, Service, Vertical And Region - Global Forecast to 2025

  • November 2020
  • 227 pages
  • ID: 5061077
  • Format: PDF
  • MarketsandMarkets

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The global NDT and inspection market size is estimated to grow from USD 8.4 billion in 2020 to USD 11.7 billion by 2025, at a CAGR of 7.0%. Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are a few major factors driving the NDT and inspection market growth. The high adoption of IoT devices and the rising need to assess the health of aging assets are the other factors that propel the development of the NDT and inspection market.

Based on techniques, the market for the eddy-current testing (ECT) technique to witness a high CAGR during the forecast period.
The eddy-current testing technique is expected to multiply during the forecast period from 2020 to 2025.This technique is used to measure or identify the surface and alloy content, subsurface cracks & seams, conductivity, heat treatment variations, crack depth, coating thickness, and permeability.

It is used widely in the aerospace and manufacturing verticals and service environments that inspect safety or quality-related issues. The eddy-current testing approach is used to check surface-breaking cracks on metals and inspect discontinuities in metal tubes.

Training services to grow at the highest CAGR during the forecast period.
Training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers’ changing demands is equally essential. The market for training services is expected to grow at the highest CAGR during the forecast period.

APAC to be the fastest-growing market for non-destructive testing and inspection activities
Asia Pacific is likely to be the fastest-growing region in the NDT and inspection market due to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China.The Make in India campaign promotion by the government and the development in the Smart Cities project provide lucrative opportunities for the players in the NDT and inspection market in India.

The market in India is expected to grow at the highest CAGR during the forecast period.
In-depth interviews have been conducted with C-level executives, managers, and other executives from various key organizations operating in the NDT and inspection market.

Break-up of profiles of primary participants for the report is given below:
• By Company Type: Tier 1 – 26%, Tier 2 – 32%, and Tier 3 – 42%
• By Designation: C-Level Executives –52%, Directors – 23%, and Managers – 25%
• By Region: North America - 44%, Europe – 29%, APAC – 23%, and RoW – 4%

Major players in the NDT and inspection market are as follows:
• General Electric (US)
• Olympus Corporation (Japan)
• MISTRAS Group (US)
• Nikon Metrology (Belgium)
• Ashtead Technology (Scotland)
• SGS S.A (US)
• Magnaflux (US)
• Zetec, Inc. (US)
• Eddyfi (Canada)
• YXLON International (Germany)
• Sonatest (UK)
• T.D. Williamson Inc. (US)
• Bosello High Technology srl (Italy)
• Fischer Technology Inc. (US)
• Cygnus Instruments Ltd. (UK)
• NDT Global GmbH (Germany)
• Acuren (US)
• LynX Inspection (Canada).

Research Coverage:
The report defines, describes, and forecasts the NDT and inspection market based on technique, method, service, vertical, and geography. It also analyzes competitive developments such as product launches and developments, agreements, partnerships, collaborations, mergers and acquisitions, and expansions carried out by key players to grow in the market.

Key Benefits of Buying the Report
1. This report segments the NDT and Inspection market comprehensively and provides the closest approximations of the overall market size and subsegments across different applications and regions.
2. The report would help stakeholders understand the market’s pulse and provide them with information on key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market in the recent past.

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