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    Home > Research Reports > North America Accounts For Over 1/3rd of the Total Non-destructive Testing Services Sales
    Research Reports

    North America Accounts For Over 1/3rd of the Total Non-destructive Testing Services Sales

    North America Accounts For Over 1/3rd of the Total Non-destructive Testing Services Sales

    Published by Wanda Rich

    Posted on October 1, 2021

    Featured image for article about Research Reports

    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.

    To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=4665

    global non destructive testing market image 2

    Global Non-Destructive Testing Market: In-Depth Assessment on Key Segments

    The global non-destructive testing market is segmented on the basis of offering, test method, end use and region.

    Application
    • Non-destructive Testing Services
    • Non-destructive Testing Equipment
    Test Method
    • Visual Testing
    • Magnetic Particle Testing
    • Liquid Penetrant Testing
    • Eddy Current Testing
    • Ultrasonic Testing
    • Radiographic Testing
    End Use
    • Oil & Gas
    • Manufacturing
    • Aerospace and Defense
    • Construction
    • Automotive
    • Power Generation
    • Others
    Region
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

    For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4665

    Key Takeaways of Non-destructive Testing Market Study

    • North America and Europe collectively account for a lion’s share of the total market value with over 59% of global sales concentrated in these regions. Multiplying demand for high-performance smart devices across end-uses propel the demand for non-destructive testing that ensure consistent quality.
    • South Asia & Oceania offer the most remunerative opportunities with a meteoric 9.5% CAGR through 2029. Booming digital economies such as Indonesia,and Singapore are investing heavily on modern infrastructure development which employs comprehensive non-destructive testing.
    • Manufacturing end-uses bolster demand from various industries. The segment accounts for more than 20% of the total market revenues with a strong 6% CAGR during the forecast period.
    • Aerospace & defense offers the most lucrative revenue opportunities on the back of increasing demand for upgradation and enhancement of air-force, military, and naval capabilities.
    • Among testing methods, ultrasonic testing methods maintain their supremacy in the market with over 1/4th total market value share. Increasing efficiency and adaptability of ultrasonic testing methods are driving the demand for this type of testing.
    • Increasing innovation in non-destructive testing products are decreasing the price of testing equipment. The non-destructive testing equipment segment records the highest growth among market offerings during the projection period.

    “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

    Full Access of this Report Is Available At https://www.factmr.com/checkout/4665

    Major market players that may influence the competition during the forecast period are

    • General Electric
    • Nikon Metrology NV
    • Olympus Corp.
    • Zetec Inc.
    • Eddyfi
    • Fisher Technologies Inc.
    • Ashtead Technology Ltd.
    • Mistras Group Inc.
    • Yxlon International GmbH
    • Sonatest Ltd.

    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 Coverage 

    Torque Transducer Market: A recent study by Fact.MR on the Torque Transducer Market offers a 5-year forecast analysis for the period 2021 – 2026. The study analyzes key trends that are currently influencing the growth of the market. This report covers key dynamics, including drivers, restraints, and opportunities for leading market players along with key stakeholders and emerging players.

    Tape on Reel Feeder Market: Fact.MR’s extensive coverage of the Tape on Reel Feeder Market offers in-depth insights into the prominent growth dynamics that are likely to aid the expansion of growth prospects in the near future. Data has been presented in the form of key segments across prominent geographies, along with important information concerning key manufacturers operating within the industry.

    Air/pneumatic Balancers Market: The Air/pneumatic Balancers Market study published by Fact.MR offers an unbiased analysis of the prominent drivers, opportunities, and trends expected to shape future expansion outlooks. The report provides a comprehensive assessment of the prominent segments and geographies which are likely to benefit market players in the forthcoming years.

    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: sales@factmr.com
    Visit Our Website: https://www.factmr.com

    The post North America Accounts For Over 1/3rd of the Total Non-destructive Testing Services Sales appeared first on The Cloud Tribune.

    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.

    To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=4665

    global non destructive testing market image 2

    Global Non-Destructive Testing Market: In-Depth Assessment on Key Segments

    The global non-destructive testing market is segmented on the basis of offering, test method, end use and region.

    Application
    • Non-destructive Testing Services
    • Non-destructive Testing Equipment
    Test Method
    • Visual Testing
    • Magnetic Particle Testing
    • Liquid Penetrant Testing
    • Eddy Current Testing
    • Ultrasonic Testing
    • Radiographic Testing
    End Use
    • Oil & Gas
    • Manufacturing
    • Aerospace and Defense
    • Construction
    • Automotive
    • Power Generation
    • Others
    Region
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

    For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4665

    Key Takeaways of Non-destructive Testing Market Study

    • North America and Europe collectively account for a lion’s share of the total market value with over 59% of global sales concentrated in these regions. Multiplying demand for high-performance smart devices across end-uses propel the demand for non-destructive testing that ensure consistent quality.
    • South Asia & Oceania offer the most remunerative opportunities with a meteoric 9.5% CAGR through 2029. Booming digital economies such as Indonesia,and Singapore are investing heavily on modern infrastructure development which employs comprehensive non-destructive testing.
    • Manufacturing end-uses bolster demand from various industries. The segment accounts for more than 20% of the total market revenues with a strong 6% CAGR during the forecast period.
    • Aerospace & defense offers the most lucrative revenue opportunities on the back of increasing demand for upgradation and enhancement of air-force, military, and naval capabilities.
    • Among testing methods, ultrasonic testing methods maintain their supremacy in the market with over 1/4th total market value share. Increasing efficiency and adaptability of ultrasonic testing methods are driving the demand for this type of testing.
    • Increasing innovation in non-destructive testing products are decreasing the price of testing equipment. The non-destructive testing equipment segment records the highest growth among market offerings during the projection period.

    “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

    Full Access of this Report Is Available At https://www.factmr.com/checkout/4665

    Major market players that may influence the competition during the forecast period are

    • General Electric
    • Nikon Metrology NV
    • Olympus Corp.
    • Zetec Inc.
    • Eddyfi
    • Fisher Technologies Inc.
    • Ashtead Technology Ltd.
    • Mistras Group Inc.
    • Yxlon International GmbH
    • Sonatest Ltd.

    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 Coverage 

    Torque Transducer Market: A recent study by Fact.MR on the Torque Transducer Market offers a 5-year forecast analysis for the period 2021 – 2026. The study analyzes key trends that are currently influencing the growth of the market. This report covers key dynamics, including drivers, restraints, and opportunities for leading market players along with key stakeholders and emerging players.

    Tape on Reel Feeder Market: Fact.MR’s extensive coverage of the Tape on Reel Feeder Market offers in-depth insights into the prominent growth dynamics that are likely to aid the expansion of growth prospects in the near future. Data has been presented in the form of key segments across prominent geographies, along with important information concerning key manufacturers operating within the industry.

    Air/pneumatic Balancers Market: The Air/pneumatic Balancers Market study published by Fact.MR offers an unbiased analysis of the prominent drivers, opportunities, and trends expected to shape future expansion outlooks. The report provides a comprehensive assessment of the prominent segments and geographies which are likely to benefit market players in the forthcoming years.

    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: sales@factmr.com
    Visit Our Website: https://www.factmr.com

    The post North America Accounts For Over 1/3rd of the Total Non-destructive Testing Services Sales appeared first on The Cloud Tribune.

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