[300 Pages Report] The global non-destructive testing equipment market size is expected to be valued at US$ 17,324 Million in 2022. Non-destructive testing equipment is used for the evaluation and inspection of various properties of materials, components, and assemblies.
| Data Points | Key Statistics |
|---|---|
| Non-Destructive Testing Equipment Market Value 2022 | US$ 17324 Million |
| Non-Destructive Testing Equipment Market Projected Value (2032) | US$ 31574.6 Million |
| Non-Destructive Testing Equipment Market CAGR (2022 to 2032) | 6.2% |
As the name suggests, this equipment does not alter or cause any damage to the materials that are subjected to evaluation. The overall demand for non-destructive testing equipment is projected to grow at a CAGR of 6.2% between 2022 and 2032, totaling around US$ 31,574.6 Million by 2032.
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From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 4.6%. Non-destructive testing equipment is deployed to determine the properties of materials and constructions in terms of ductility, ultimate tensile strength, impact resistance, fracture toughness, and fatigue strength. Non-destructive testing equipment sustains a uniform quality level and lowers the cost of production.
Since non-destructive testing equipment does not permanently alter the article being inspected, it is a highly valuable technique that can save both money and time in product evaluation, research, and troubleshooting. The various Non-destructive testing equipment methods include ultrasonic, magnetic particle, radiographic, liquid penetrant, eddy current testing, remote visual inspection, low coherence interferometry, etc.
The overall demand for non-destructive testing equipment is projected to grow at a CAGR of 6.2% between 2022 and 2032, totaling around US$ 31,574.6 Million by 2032.
Increased Safety Regulations Likely to Augment Non-Destructive Testing Equipment Sales
Increasing safety regulations for quality control, safety, and reliable performance of machines are driving the adoption of Non-destructive testing equipment in end-use industries. Focus on improving the quality and longevity of the materials is also driving the growth of the market. Focus on maintaining quality and preventing breakdowns have also led to increased adoption of Non-destructive testing equipment in end-use industries.
There are significant opportunities for existing- and new players to differentiate their offerings through product innovation and competitive price offerings. For many construction projects, carrying out Non-destructive testing has become an integral part of the overall process, and this trend is only going to be stronger over the forecast period. The development of automatic and laser-based testing equipment is also expected to create new avenues of growth for this market.
Advancements in electronics, robotics, and automation and the development of user-friendly software have made this equipment more appealing to end-users. Incorporation of Non-destructive testing equipment has been shown to reduce maintenance and repair costs in the long run, fuelling their demand from end-use industries.
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High Rates of Investment to Impede the Growth
Although Non-destructive testing equipment offers good ROI in the long run, the high initial investment is a deterrent for many organizations. Lack of product knowledge and skilled manpower continues to be a challenge for the adoption of these machines.
Rising Market Competition to Boost the Market Growth in North America
The North America Non-Destructive Testing Equipment market is expected to accumulate a market share of 28.5% in 2022. North America is dominating and contributing the leading shares to the non-destructive testing equipment market in terms of revenue and is expected to register significant growth over a forecast period due to the increasing market competition.
This is owed to the adoption of NDT techniques across numerous applications, the availability of a skilled workforce, and the number of non-destructive testing training institutes in the region. Furthermore, power generation using shale oil in the USA and Canada is projected to add immense growth to the market in the years to come.
Expansion in Industrial Infrastructure to Boost Market Growth in Europe
The European region is anticipated to hold a market share of 23.8%. Europe is expected to contribute to moderate revenue market share and register a healthy growth rate in the global non-destructive testing equipment market due to government initiatives to expand the industrial infrastructure, along with an increase in manufacturing, construction, and power generation activities in the region.
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Some key start-ups in the Non-Destructive Testing Equipment market include AAVRTTI, Spectre UAV Concepts, Inductosense, Lytid, Talcyon, and many more.
Recent Developments-
Prominent players in the Non-Destructive Testing Equipment market are Ashtead Technology, Eddyfi, Fischer Technologies Inc, General Electric, Nikon Corporation, Mistras Group, Olympus Corporation, Sonatest, Yxlon International, Zetec, Inc, MME Group, TWI Ltd. and various other regional players.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.2% from 2022 to 2032 |
| Market Value in 2022 | US$ 17,324 Million |
| Market Value in 2032 | US$ 31,574.6 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Report Customization | Available upon Request |
As of 2022, the Non-Destructive Testing Equipment market is slated to reach a valuation of US$ 17,324 Million
From 2022 to 2032, sales of Non-Destructive Testing Equipment are expected to grow at a 6.2% CAGR
By 2032, Future Market Insights expects the Non-Destructive Testing Equipment market to reach US$ 31,574.6 Million.
1. Executive Summary | Non-Destructive Testing Equipment Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2016 to 2021
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By End Use Verticals
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End Use Verticals, 2016 to 2021
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End Use Verticals, 2022 to 2032
5.3.1. Petrochemical And Pipe
5.3.2. Manufacturing Applications
5.3.3. Government Infrastructure
5.3.4. Aerospace
5.3.5. Automotive
5.3.6. Public Safety
5.3.7. Power Generation
5.3.8. Others
5.4. Y-o-Y Growth Trend Analysis By End Use Verticals, 2016 to 2021
5.5. Absolute $ Opportunity Analysis By End Use Verticals, 2022 to 2032
6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Services
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Services, 2016 to 2021
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Services, 2022 to 2032
6.3.1. Training
6.3.2. Inspection
6.3.3. Consultation
6.3.4. Others
6.4. Y-o-Y Growth Trend Analysis By Services, 2016 to 2021
6.5. Absolute $ Opportunity Analysis By Services, 2022 to 2032
7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Technology
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2016 to 2021
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2022 to 2032
7.3.1. Radiography Testing
7.3.2. Ultrasonic Testing
7.3.3. Visual Testing
7.3.4. Magnetic Particle Testing
7.3.5. Liquid Penetrant Testing
7.3.6. Others
7.4. Y-o-Y Growth Trend Analysis By Technology, 2016 to 2021
7.5. Absolute $ Opportunity Analysis By Technology, 2022 to 2032
8. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2016 to 2021
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2016 to 2021
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. United States of America
9.2.1.2. Canada
9.2.2. By End Use Verticals
9.2.3. By Services
9.2.4. By Technology
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By End Use Verticals
9.3.3. By Services
9.3.4. By Technology
9.4. Key Takeaways
10. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2016 to 2021
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By End Use Verticals
10.2.3. By Services
10.2.4. By Technology
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By End Use Verticals
10.3.3. By Services
10.3.4. By Technology
10.4. Key Takeaways
11. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2016 to 2021
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By End Use Verticals
11.2.3. By Services
11.2.4. By Technology
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By End Use Verticals
11.3.3. By Services
11.3.4. By Technology
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2016 to 2021
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By End Use Verticals
12.2.3. By Services
12.2.4. By Technology
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By End Use Verticals
12.3.3. By Services
12.3.4. By Technology
12.4. Key Takeaways
13. MEA Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2016 to 2021
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By End Use Verticals
13.2.3. By Services
13.2.4. By Technology
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By End Use Verticals
13.3.3. By Services
13.3.4. By Technology
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. United States of America
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2021
14.1.2.1. By End Use Verticals
14.1.2.2. By Services
14.1.2.3. By Technology
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2021
14.2.2.1. By End Use Verticals
14.2.2.2. By Services
14.2.2.3. By Technology
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2021
14.3.2.1. By End Use Verticals
14.3.2.2. By Services
14.3.2.3. By Technology
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2021
14.4.2.1. By End Use Verticals
14.4.2.2. By Services
14.4.2.3. By Technology
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2021
14.5.2.1. By End Use Verticals
14.5.2.2. By Services
14.5.2.3. By Technology
14.6. United Kingdom
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2021
14.6.2.1. By End Use Verticals
14.6.2.2. By Services
14.6.2.3. By Technology
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2021
14.7.2.1. By End Use Verticals
14.7.2.2. By Services
14.7.2.3. By Technology
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2021
14.8.2.1. By End Use Verticals
14.8.2.2. By Services
14.8.2.3. By Technology
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2021
14.9.2.1. By End Use Verticals
14.9.2.2. By Services
14.9.2.3. By Technology
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2021
14.10.2.1. By End Use Verticals
14.10.2.2. By Services
14.10.2.3. By Technology
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2021
14.11.2.1. By End Use Verticals
14.11.2.2. By Services
14.11.2.3. By Technology
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2021
14.12.2.1. By End Use Verticals
14.12.2.2. By Services
14.12.2.3. By Technology
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2021
14.13.2.1. By End Use Verticals
14.13.2.2. By Services
14.13.2.3. By Technology
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2021
14.14.2.1. By End Use Verticals
14.14.2.2. By Services
14.14.2.3. By Technology
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2021
14.15.2.1. By End Use Verticals
14.15.2.2. By Services
14.15.2.3. By Technology
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2021
14.16.2.1. By End Use Verticals
14.16.2.2. By Services
14.16.2.3. By Technology
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2021
14.17.2.1. By End Use Verticals
14.17.2.2. By Services
14.17.2.3. By Technology
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2021
14.18.2.1. By End Use Verticals
14.18.2.2. By Services
14.18.2.3. By Technology
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2021
14.19.2.1. By End Use Verticals
14.19.2.2. By Services
14.19.2.3. By Technology
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2021
14.20.2.1. By End Use Verticals
14.20.2.2. By Services
14.20.2.3. By Technology
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By End Use Verticals
15.3.3. By Services
15.3.4. By Technology
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. GE Inspection Technologies
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. YXLON International
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Mistras
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Nikon Metrology
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Olympus Corporation
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Eddyfi
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Sonatest Ltd.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Magnaflux Corporation
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Zetec Inc.
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. OKOndt GROUP
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
Industrial Automation
June 2024
REP-GB-11943
306 pages
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Non-Destructive Testing Equipment Market
