UK markets closed
  • FTSE 100

    7,122.32
    -6.89 (-0.10%)
     
  • FTSE 250

    22,646.08
    -38.76 (-0.17%)
     
  • AIM

    1,182.30
    -6.44 (-0.54%)
     
  • GBP/EUR

    1.1690
    -0.0076 (-0.65%)
     
  • GBP/USD

    1.3235
    -0.0067 (-0.50%)
     
  • BTC-GBP

    37,070.77
    -3,091.03 (-7.70%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • S&P 500

    4,538.43
    -38.67 (-0.84%)
     
  • DOW

    34,580.08
    -59.71 (-0.17%)
     
  • CRUDE OIL

    66.22
    -0.28 (-0.42%)
     
  • GOLD FUTURES

    1,782.10
    +21.40 (+1.22%)
     
  • NIKKEI 225

    28,029.57
    +276.20 (+1.00%)
     
  • HANG SENG

    23,766.69
    -22.24 (-0.09%)
     
  • DAX

    15,169.98
    -93.13 (-0.61%)
     
  • CAC 40

    6,765.52
    -30.23 (-0.44%)
     

Global Non-Destructive Testing and Inspection Market (2021 to 2030) - Featuring MISTRAS, Baker Hughes and SGS Among Others - ResearchAndMarkets.com

·5-min read

DUBLIN, October 20, 2021--(BUSINESS WIRE)--The "Non-Destructive Testing (NDT) and Inspection Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.

This report provides the strategists, marketers and senior management with the critical information they need to assess the global non-destructive testing (NDT) and inspection market.

The report focuses on the non-destructive testing (NDT) and inspection market which is experiencing strong growth. It gives a guide to the non-destructive testing (NDT) and inspection market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.

The global NDT and inspection market is expected to grow from $7.03 billion in 2020 to $7.40 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.16 billion in 2025 at a CAGR of 10.8%.

Companies Mentioned

  • MISTRAS Group

  • Acuren Inspection Inc

  • YXLON International

  • Fprimec Solutions Inc

  • Baker Hughes

  • Applied Technical Services

  • TEAM Inc.

  • SGS Group

  • Applus Services

  • Bureau Veritas S.A.

  • Intertek Group plc

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.

  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.

  • Create regional and country strategies on the basis of local data and analysis.

  • Identify growth segments for investment.

  • Outperform competitors using forecast data and the drivers and trends shaping the market.

  • Understand customers based on the latest market research findings.

  • Benchmark performance against key competitors.

  • Utilize the relationships between key data sets for superior strategizing.

  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

The NDT and inspection market consist of sales of NDT and inspection services by entities (organizations, sole traders, and partnerships) that are engaged in testing and inspection services. Non-destructive testing (NDT) is the method of examining, testing, or assessing products, parts, or assemblies for discontinuities or discrepancies in functionality without sacrificing the part's or system's serviceability. NDT techniques are used in production lines, on-site inspections, and fabrication units to maintain product reliability, manufacturing process, uniform quality level, and attain lower product costs.

The main techniques of non-destructive testing (NDT) and inspection include magnetic particle testing, ultrasonic testing, visual testing, liquid penetrant testing, eddy-current testing, radiographic testing, acoustic emission testing, and others. Ultrasonic testing (UT) is a non-destructive test procedure for detecting cracks and defects in parts and components using sound waves. The methods used in NDT inspection include visual inspection, surface inspection, volumetric inspection, and others. These services are used by manufacturing, oil & gas, aerospace, public infrastructure, automotive, power generation, and other verticals.

North America was the largest region in the NDT and inspection market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Technological advancement is a key trend shaping the NDT and inspection market. Major companies operating in the NDT and inspection field are focused on developing technological solutions for NDT and inspection to strengthen their position. For instance, in March 2019, YXLON International a Germany-based provider of inspection systems and services launched new x-ray systems for the Semicon industry which offers automated 2D and 3D inspection of bumps, and locate, identify, measure failures with the highest standards.

In July 2019, Sintavia, a US-based additive manufacturer for the aerospace, defense, and space industry acquired NDT services provider QC Laboratories, Inc. for an undisclosed amount. The acquisition is expected to boost Sintavia NDT's capabilities in commercial aerospace applications, especially for surface finish conformance testing. QC Laboratories, Inc. is a US-based company involved in offering industrial and commercial non-destructive testing services.

Rapid growth in industrialization and urbanization across the globe is expected to propel the growth of the NDT and inspection market in the coming years. China's urban population, for instance, reached 60.3% of the total population in 2019, while India's urban population accounted for 34.5% of the total population in the same year. The high-pace manufacturing industries including the aerospace sector, are investing in NDT and inspection services for frequent quality inspections, detection of infrastructure failures, and others. The companies are also partnering with NDT service providers to carry out third-party inspection services to maintain product quality and production efficiency. For instance, in June 2019, SGS, a Swiss-based provider of inspection services agreed with TD Aerospace, a Morocco-based provider of metallic tubes and ducts for the aerospace sector, to integrate its NDT services into the TDM's production process. Therefore, the rapid growth in industrialization and urbanization across the globe propels the growth of the NDT and inspection market.

For more information about this report visit https://www.researchandmarkets.com/r/3yqoyq

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005888/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting