Non-Destructive Testing Market is Anticipated to Witness High Growth Owing to Increasing Demand for Safer Products
Non-Destructive Testing Market |
The non-destructive testing market can involve various techniques such as ultrasonic testing, liquid penetrant testing, magnetic particle testing, eddy-current testing, radiographic testing, and visual testing. Non-destructive testing provides crucial information about products and systems without causing damage. It helps detect, locate, measure, and evaluate flaws or defects that could impact the performance, quality, safety, and reliability of materials and structures. With mandatory regulations regarding quality, safety, and performance from regulatory bodies worldwide, there is an increasing demand for non-destructive testing in industries such as aerospace, automotive, oil and gas, and manufacturing.
The Global non-destructive testing market is estimated
to be valued at US$ 9103.94 Bn in 2024 and is expected to exhibit a CAGR of
16.% over the forecast period 2024 To 2031.
Key players operating in the non-destructive testing
market are Bio-Rad Laboratories, Biocept Inc., Guardant Health, QIAGEN N.V,
Illumina, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Laboratory
Corporation of America Holdings, MDxHealth SA, Thermo Fisher Scientific Inc..
These key players are focusing on developing advanced non-destructive testing
equipment and technologies to inspect materials and structures more
efficiently.
The key opportunities in the Non-Destructive
Testing Market Size include the growing demand for non-destructive
testing from new industries, increasing usage of digital technology with
non-destructive testing methods, and rising focus on automated non-destructive
testing systems. Additionally, the developing economies worldwide are
increasingly adopting non-destructive testing for quality assurance and safety
compliance, presenting lucrative export opportunities for market players.
The leading non-destructive testing companies are also focusing on global expansion
by establishing new manufacturing plants, research facilities, and
collaborating with regional players. For instance, in 2023, Thermo Fisher
Scientific Inc. plans to open a new state-of-the-art manufacturing facility in
Poland to support non-destructive testing demand from European customers.
Market Drivers
The increasing safety regulations and quality standards across industries
worldwide is a major driver accelerating the adoption of non-destructive
testing. With regulatory bodies mandating strict quality assurances for
critical infrastructures and products, companies are compelled to deploy
non-destructive testing to avoid costly product recalls and legal issues
arising from defects. Additionally, the emphasis on inspecting aging
infrastructure for maintenance is also propelling the non-destructive testing
market growth.
Market Restrain
The high costs associated with non-destructive testing equipment and hiring
trained inspectors can restrain the widespread adoption of non-destructive
testing by small and medium enterprises. Also, the complexities involved in
result interpretation require significant expertise, which acts as another
challenge especially for newly established companies. However, the development
of low-cost portable testing devices and automation of result analysis is
expected to overcome some restraints in the forecast period.
Segment Analysis
The Non-Destructive Testing market is segmented based on Testing Methods which
include Visual Inspection, Surface Inspection, Volumetric Inspection, and
others. Among these, Volumetric Inspection segment dominated the market in 2021
due to its advantage of detecting internal or hidden flaws in weld joints,
turbine blades, pipes, castings, etc. without dismantling the part. It is
widely adopted to test thick-walled structures and get a 3D volume of the
specimen. Within this segment, ultrasonic testing captures over 30% market
share and grows at a high CAGR owing to its ability to provide accurate
results, even in complex geometries of samples.
Global Analysis
In terms of regional analysis, Asia Pacific is considered the fastest growing
as well as dominating region in the Non-Destructive Testing market during the
forecast period. Robust growth in end-use industries such as aerospace,
automotive, oil & gas, power generation drives the demand for NDT equipment
and services. Additionally, increasing infrastructural development activities
in emerging countries like China and India also contribute to the regional
market growth. Europe follows Asia Pacific in terms of market share and is
expected to grow due to stringent government regulations over product quality
and safety across industries. Presence of major market players and rise in
expenditure on innovative NDT technologies supports regional market growth.
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