Non-Destructive Testing (NDT) Market Size, Share & Trends Report

Non-Destructive Testing (NDT) Market Size, Share & Trends Analysis Report By Vertical, By Test Method (Visual, Magnetic Particle, Eddy Current, Ultrasonic, Radiographic), And Segment Forecasts, 2018 - 2025

  • Published Date: Oct, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-602-8
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 83

Industry Insights

The global non-destructive testing (NDT) market size was valued at USD 13.51 billion in 2017. It is projected to expand at a CAGR of 6.2% over the forecast period. Rising manufacturing activities in developing and developed nations is one of the key trends stimulating market growth. Technological advancements are leading to development of advanced non-destructive testing techniques with improved fault detection and safety, which is poised to boost the growth of the market.

Increasing awareness among manufacturers regarding benefits of NDT is likely to augment the penetration of NDT techniques over the forecast period. Asia Pacific is expected to be a promising destination for global players in the market. Growing urbanization and industrialization in developing nations such as India and China is one of the primary growth stimulants for the overall market.

Global non-destructive testing market

Developing countries are witnessing upswing in manufacturing and construction projects. Rate at which these projects are executed makes it mandatory for executors to implement testing processes in order to ensure quality in work. The trend is estimated to escalate the adoption of non-destructive testing techniques in emerging economies. NDT techniques are already being used consistently across developed nations such as the U.S. and the U.K..

Projects using these techniques are completed in lesser time owing to elaborate and swift fault detection at complex locations and irregular surfaces. This considerably reduces possibility of failures, which, in turn, is anticipated to fuel their demand over the forecast period. Burgeoning oil & gas projects in the Middle East and North America are projected to bolster deployment of the techniques in order to successfully and proficiently complete projects within prescribed timelines.

Test Method Insights

The ultrasonic testing segment is poised to be the most preferred test method in the market throughout the forecast horizon. Ultrasonic detectors are portable, easy to use, and provide highly accurate results as compared to traditional techniques. As a result, the adoption of ultrasonic testing is likely to register a considerable rate during the same period.

Radiographic testing is also expected to witness significant growth over the forecast period. The growth of the segment can be attributed to its ability to detect faults in components or equipment with the help of advanced equipment such as industrial CT scanners. Use of radiographic testing provides the most precise results among all test methods. This helps technicians and operators to focus on highlighted areas from tests, such that minimum faults occur in the final product. However, costs incurred in implementing the technique are considerably high, which is estimated to impede the growth of the segment over the forecast period.

Vertical Insights

Non-destructive testing has been, traditionally, extensively used in the oil & gas sector. Test methods such as ultrasonic testing and eddy current testing are used to detect cracks in pipes both underground and elevated. However, with growing awareness, NDT techniques are being deployed in a variety of sectors such as aerospace & defense and automotive manufacturing.

The manufacturing sector is anticipated to post the highest CAGR of over 7.0% during the forecast period due to surging manufacturing volumes across the globe. There is a high demand for different test methods in the sector. This is to speed up completion and ensure fault-free production. The sector will account for more than 20.0% of the NDT market revenue in 2017.

Global non-destructive testing market share

The power generation segment, which comprises several industries such as power grids and hydro-electric power plants, is projected to experience healthy growth over the forecast period. The segment is poised to exhibit a CAGR of over 6.0%. during the forecast period Spiraling demand for power is escalating power generation in developing nations, such as Brazil, China, and India. This is encouraging local governments to undertake multiple power generation projects such as hydro-electric, nuclear, and atomic power plants. Rising number of power generation plants is resulting in increased adoption of NDT techniques as they guarantee faster power generation rates.

Regional Insights

North America dominated the market in 2017, with a revenue share of over 35.0%. This is owing to extensive adoption of NDT techniques across numerous end-use sectors, availability of skilled workforce, and presence of numerous NDT training institutes in the region. Power generation using shale oil in the U.S. and Canada is also likely to positively impact the growth of the regional market.

However, Asia Pacific is expected to rise at the highest CAGR of just over 7.5% during the forecast period. Booming manufacturing, construction, and power generation sectors are playing a vital role in the growth of the market in the region. With rise in awareness and adoption of NDT techniques, scarcity of skilled labor across Asia Pacific is estimated to gradually subside. Furthermore, the oil & gas industry is a major revenue contributor in the economy of Middle East. As a result, the market in the region is anticipated to hold immense growth potential.

Non-Destructive Testing Market Share Insights

The major players included in the study are General Electric Company; Nikon Corporation; Olympus Corporation; Mistras Group, Inc.; Yxlon International GmbH; and Sonatest Ltd. In order to secure a large share in the market, key incumbents are undertaking initiatives and adopting strategies such as partnerships, mergers & acquisitions, new product and service launches, and competitive pricing for their products and services.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual Estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country scope

U.S., Canada, U.K., Germany, France, China, India, Japan, Brazil, Mexico, Saudi Arabia, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends for each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global non-destructive testing market report on the basis of test method, vertical, and region:

  • Test Method Outlook (Revenue, USD Million, 2014 - 2025)

    • Visual Testing

    • Magnetic Particle Testing

    • Liquid Penetrant Testing

    • Eddy Current Testing

    • Ultrasonic Testing

    • Radiographic Testing

  • Vertical Outlook (Revenue, USD Million, 2014 - 2025)

    • Oil & Gas

    • Manufacturing

    • Aerospace & Defense

    • Construction

    • Automotive

    • Power Generation

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

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