Posted By Jessica Weisman-Pitts
Posted on November 10, 2021
Surging demand for enhanced accuracy, cost efficiency, and non-intrusive testing to evaluate the properties of materials or components across industries will drive the demand for non-destructive testing. The global non-destructive testing market will grow at a positive 6% CAGR during the forecast period. Advancements in non-destructive testing methods such as digital ultrasonic testing and heightened portability furthers the adoption of non-destructive testing. Economies across the globe are investing in cost effective and energy efficient testing of public infrastructure and aerospace & defense instruments. There is a lack of technical expertise among non-destructive testing inspectors in the market. Leading market players are hence keen on global footprint expansion by forging strategic partnerships with local players and mergers & acquisitions in developing economies.
“The growing adoption of non-destructive testing methods is aligned with the developments in nanotechnology, displays, and processing capabilities are set to transform the competitive landscape. Market players stand to gain by investing in improving the quality of services by adding support services and streamlining reporting procedures.” Says Fact.MR Analyst
For More Insights into the Market, Request a Sample of this Reporthttps://www.factmr.com/connectus/sample?flag=S&rep_id=4665
Key Players
- General Electric Company
- Nikon Metrology NV
- Olympus Corp.
- Zetec Inc.
- Eddyfi Technologies Inc.
- Fisher Technologies Inc.
- Ashtead Technology Ltd.
- Mistras Group Inc.
- Yxlon International GmbH
- Sonatest Ltd.
Competitive Landscape
The competitive landscape of the non-destructive testing market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
- In May 2021, Nikon Metrology’s industrial micro focus X-ray CT inspection solutions announced a new offset CT reconstruction algorithm to deliver unrivaled scan speed and image resolution. When using X-ray CT for non-destructive quality control of larger components like aluminum castings or battery modules for electrical vehicles, the challenge is to shorten inspection cycle times without compromising resolution
- In August 2021, Eddyfi Technologies/NDT announced the initiation of a definitive agreement to acquire Zetec, a subsidiary of Roper Technologies Inc. Expected to close by the year-end, the acquisition will permit Eddyfi to extend their market coverage through innovation and a customer-focused approach
Get Customization on this Research Report for specific research solutions https://www.factmr.com/connectus/sample?flag=RC&rep_id=4665
Key Segments Covered
· Application
-
- Non Destructive Testing Services
- Non Destructive Testing Equipment
· Test Method
-
- Non Destructive Visual Testing
- Non Destructive Magnetic Particle Testing
- Non Destructive Liquid Penetrant Testing
- Non Destructive Eddy Current Testing
- Non Destructive Ultrasonic Testing
- Non Destructive Radiographic Testing
· End Use
-
- NDT for Oil & Gas
- NDT for Manufacturing
- NDT for Aerospace & Defence
- NDT for Construction
- NDT for Automotive
- NDT for Power Generation
- NDT for Other End Uses
Increasing Efficiency of Industrial Equipment – Key Growth Trend
Advancements in detection of delamination, crushed cores with minimal or no structural invasion are helping manufacturers differentiate product offerings and make the market more competitive. Adaptability of non-destructive testing methods in detecting structural integrity of carbon-fiber, glass-fiber, foam, metal, and glare will strengthen the demand for non-destructive testing within the manufacturing end-use during the forecast period.
Consumer trends such as demand for improved product performance and technology enabled devices is supporting the growth of non-destructive testing to ensure product performance. Non-destructive testing services will continue to lead in terms of demand through 2029. Market players are hence investing in partner training programs to increase the quality of non-destructive testing services. Organizations in developing economies will continue to provide continuous growth opportunities for non-destructive testing services amid surging consumer demand for quality over quantity.
Get Valuable Insights on the Non-destructive Testing Market
Fact.MR, in its new offering, presents an unbiased analysis of the non-destructive testing market, presenting historical demand data (2013-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the non-destructive testing market on the basis of offering (non-destructive testing services and non-destructive testing equipment), test method (visual testing, magnetic particle testing, liquid penetrant testing, eddy current testing, ultrasonic testing, and radiographic testing), end-use industry (oil & gas, manufacturing, aerospace & defense, construction, automotive, power generation, and others), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Domain:
Utility Locator Market – Market Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030
Firestop Sealants Market – Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029
Centrifugal Chiller Market – Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com
Surging demand for enhanced accuracy, cost efficiency, and non-intrusive testing to evaluate the properties of materials or components across industries will drive the demand for non-destructive testing. The global non-destructive testing market will grow at a positive 6% CAGR during the forecast period. Advancements in non-destructive testing methods such as digital ultrasonic testing and heightened portability furthers the adoption of non-destructive testing. Economies across the globe are investing in cost effective and energy efficient testing of public infrastructure and aerospace & defense instruments. There is a lack of technical expertise among non-destructive testing inspectors in the market. Leading market players are hence keen on global footprint expansion by forging strategic partnerships with local players and mergers & acquisitions in developing economies.
“The growing adoption of non-destructive testing methods is aligned with the developments in nanotechnology, displays, and processing capabilities are set to transform the competitive landscape. Market players stand to gain by investing in improving the quality of services by adding support services and streamlining reporting procedures.” Says Fact.MR Analyst
For More Insights into the Market, Request a Sample of this Reporthttps://www.factmr.com/connectus/sample?flag=S&rep_id=4665
Key Players
- General Electric Company
- Nikon Metrology NV
- Olympus Corp.
- Zetec Inc.
- Eddyfi Technologies Inc.
- Fisher Technologies Inc.
- Ashtead Technology Ltd.
- Mistras Group Inc.
- Yxlon International GmbH
- Sonatest Ltd.
Competitive Landscape
The competitive landscape of the non-destructive testing market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
- In May 2021, Nikon Metrology’s industrial micro focus X-ray CT inspection solutions announced a new offset CT reconstruction algorithm to deliver unrivaled scan speed and image resolution. When using X-ray CT for non-destructive quality control of larger components like aluminum castings or battery modules for electrical vehicles, the challenge is to shorten inspection cycle times without compromising resolution
- In August 2021, Eddyfi Technologies/NDT announced the initiation of a definitive agreement to acquire Zetec, a subsidiary of Roper Technologies Inc. Expected to close by the year-end, the acquisition will permit Eddyfi to extend their market coverage through innovation and a customer-focused approach
Get Customization on this Research Report for specific research solutions https://www.factmr.com/connectus/sample?flag=RC&rep_id=4665
Key Segments Covered
· Application
- Non Destructive Testing Services
- Non Destructive Testing Equipment
· Test Method
- Non Destructive Visual Testing
- Non Destructive Magnetic Particle Testing
- Non Destructive Liquid Penetrant Testing
- Non Destructive Eddy Current Testing
- Non Destructive Ultrasonic Testing
- Non Destructive Radiographic Testing
· End Use
- NDT for Oil & Gas
- NDT for Manufacturing
- NDT for Aerospace & Defence
- NDT for Construction
- NDT for Automotive
- NDT for Power Generation
- NDT for Other End Uses
Increasing Efficiency of Industrial Equipment – Key Growth Trend
Advancements in detection of delamination, crushed cores with minimal or no structural invasion are helping manufacturers differentiate product offerings and make the market more competitive. Adaptability of non-destructive testing methods in detecting structural integrity of carbon-fiber, glass-fiber, foam, metal, and glare will strengthen the demand for non-destructive testing within the manufacturing end-use during the forecast period.
Consumer trends such as demand for improved product performance and technology enabled devices is supporting the growth of non-destructive testing to ensure product performance. Non-destructive testing services will continue to lead in terms of demand through 2029. Market players are hence investing in partner training programs to increase the quality of non-destructive testing services. Organizations in developing economies will continue to provide continuous growth opportunities for non-destructive testing services amid surging consumer demand for quality over quantity.
Get Valuable Insights on the Non-destructive Testing Market
Fact.MR, in its new offering, presents an unbiased analysis of the non-destructive testing market, presenting historical demand data (2013-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the non-destructive testing market on the basis of offering (non-destructive testing services and non-destructive testing equipment), test method (visual testing, magnetic particle testing, liquid penetrant testing, eddy current testing, ultrasonic testing, and radiographic testing), end-use industry (oil & gas, manufacturing, aerospace & defense, construction, automotive, power generation, and others), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Domain:
Utility Locator Market – Market Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030
Firestop Sealants Market – Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029
Centrifugal Chiller Market – Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com
