Non-Destructive Testing (NDT) Market

1. The global Non-Destructive Testing market was valued at USD 15.05 billion in 2023 and is expected to grow from USD 16.41 billion in 2024 to USD 35.39 billion by 2032, registering a CAGR of 10.1% during the forecast period. North America led the market in 2023, accounting for a dominant share of 37.01%. Within the region, the U.S. market is anticipated to experience substantial growth, with its NDT market projected to reach approximately USD 9.91 billion by 2032. List of Companies profiled in Non-Destructive Testing (NDT) Marketreport: •Acuren Inspection Inc.( The U.S.) •Ashtead Technology (The U.K.) •Bosello High Technology Srl (Italy) •Cygnus Instruments Ltd (The U.K.) •Eddyfi (Canada) •Fischer Technology Inc. (The U.S.) •Fprimec Solutions Inc. (Canada) •General Electric (The U.S.) •Ipromar Pte Ltd (Singapore) •Labquip NDT Limited (The U.K.) •LynX Inspection (Canada) •Magnaflux Corporation (The U.S.) •Mistras Group (The U.S.) •NDT Global GmbH & Co. Kg (The U.S.) •Nikon Metrology (Japan) •Olympus Corporation (Japan) •Sonatest Ltd. (The U.K.) •TD Williamson, Inc. (The U.S.) •YXLON International GmbH (Denmark) Information Source: https://www.fortunebusinessinsights.com/non-destructive-testing-ndt-market-103596 Segmentation: The non-destructive testing market is segmented based on technique, offering, method, vertical, and region to provide a comprehensive analysis of the industry landscape. By technique, the market includes ultrasonic testing, visual inspection testing, magnetic particle testing, liquid penetrant testing, eddy-current testing, radiographic testing, acoustic emission testing, magnetic flux leakage testing, and other advanced methods. In terms of offering, the market is divided into equipment and services. Equipment is further categorized into NDT products and equipment rental, while services include inspection services, training and certification, calibration services, data analysis and reporting, asset

2. management, and other services such as research and development, failure analysis, and consulting and advisory. By method, the market is classified into visual inspection, surface inspection, volumetric inspection, and others. Based on vertical, the market serves a range of industries, including manufacturing, oil & gas, aerospace, public infrastructure, automotive, power generation, and others. Regionally, the market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with further breakdowns by key countries within each region. This segmentation provides in-depth insights into market dynamics, emerging trends, and growth opportunities across various segments and geographies. Drivers & Restraints: The Non-Destructive Testing (NDT) industry is propelled by several factors, including the increasing emphasis on safety and quality standards in various industries, such as aerospace, oil & gas, and manufacturing. NDT methods enable the detection of defects and flaws in materials without causing damage, ensuring the integrity and reliability of critical components. Advancements in NDT technologies, such as digital radiography and phased array ultrasonics, have further improved inspection efficiency and accuracy, attracting industries to adopt NDT solutions to enhance their inspection capabilities. Government regulations mandating stringent safety standards and the cost-effectiveness and time efficiency of NDT methods also contribute to the market's growth, particularly with the rise in infrastructure and construction projects globally. Despite its growth potential, the NDT market faces challenges such as the high initial investment required for installing and implementing advanced NDT equipment, which may deter some smaller enterprises from adopting these technologies. Moreover, a shortage of skilled workforce poses a limitation as performing NDT necessitates trained personnel capable of accurately interpreting test results. The impact of the COVID-19 pandemic led to a temporary decline in demand for NDT services, though the market is expected to recover. Additionally, certain limitations in detection capabilities, where certain defects may be difficult to identify through NDT methods, and the presence of alternative inspection techniques can hinder the widespread adoption of NDT in specific instances. Report Coverage: • Key growth drivers, restraints, opportunities, and challenges • Comprehensive regional insights on the market. • List of major industry players in the market.

3. • Key strategies adopted by the players in the market. • Latest industry developments like product launches, partnerships, mergers, and acquisitions. Industry Developments: May 2023: Previan Technologies, Inc. completed the acquisition of Sensor Networks, Inc. (SNI), a well-established provider of advanced sensing tools and technologies for the inspection and remote monitoring of safety-critical components. Through this acquisition, SNI became part of the Previan Group, allowing it to benefit from and integrate the non- destructive testing (NDT) solutions offered by Eddyfi Technologies.