Global Non-Destructive Testing Services Market to Witness Rapid Growth in Demand

Posted by VikasBahurupi1 on March 15th, 2019

Market Overview:

The non-destructive testing services market is growing, with a quick pace. Non-destructive testing services are gaining popularity due to the need for ensuring the prevention of accidents and promoting safety for workers during overhauling and maintenance. The rise in demand for improving quality and longevity of the machines is one major factor driving the growth of non-destructive testing services market. Also, increase in the use of renewable energy resources is another major factor responsible for driving the growth of non-destructive testing services market.Global Non-Destructive Testing ServicesMarket is expected to grow in the forecasted period, in 2017 market size of the Non-Destructive Testing Services was XX million and in 2025 is expected to reach at XX million with growing CAGR of XX%.

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Market Dynamics:

Major factors that drive the market include user-friendly software, strict government regulations for safety, reliable performance and quality control combined with continuous evolvement in robotics, automation, and electronics industry. Rising need for extending the life of aging assets and running the assets at high capacities along with the high costs involved in developing new infrastructure is projected to drive industry growth.
However, lack of awareness within the end-users and high infrastructure costs may act as a challenge to growth. Additionally, high cost along with requirement of qualified and skilled personnel may curb industry growth over the forecast period.

Key Players:

The Non-Destructive Testing Services market consists global and regional players includeMISTRAS Group, Inc., Olympus Corporation, GE Inspection Technologies, Intertek Group PLC, SGS S.A., Olympus Corporation, Nikon Metrology, Inc., Ashtead Technology, Inc., Sonatest Ltd., Bosello High Technology S.R.L., Fujifilm Holdings Corporation and others.

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Market Segmentation:

The non-destructive testing services market is bifurcated on the basis of by technique, application, type, vertical and region. By technique, the market is segmented into traditional and advanced non-destructive testing services. By type, the market is classified into eddy-current testing services,radiography testing services, ultrasonic testing services, liquid penetrant testing services, magnetic particle testing services, and visual inspection services. 

Moreover, based on application, the market is segmented into leak detection, chemical composition determination, dimensional measurement, flaw detection, estimation of physical properties, and stress & structure analysis. Whereas, based on vertical, the market is segmented into aerospace & defence, automotive, oil & gas, infrastructure, and power.
Non-Destructive Testing Services Module by region segmented into North America, Europe, Latin America, Asia-Pacific and Middle East & Africa. In 2017, North America is expected to dominate the non-destructive testing services market due to rising technological enhancements and growing adoption of industrial internet of things in the region.

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