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| Non-Destructive Testing Market |
The global non-destructive testing market is estimated to be valued at US$ 28,400 Mn in 2022 and is expected to exhibit a CAGR of 12.0% over the forecast period of 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Non-destructive testing refers to the method of inspecting, testing, or
evaluating materials, components, and systems without causing damage to the
object under examination. This market offers various advantages such as
reducing downtime, enhancing safety, improving quality control, and increasing
cost savings. The need for non-destructive testing products is associated with
sectors such as aerospace and defense, oil and gas, manufacturing, automotive,
and construction. These industries require thorough inspection and measurement
to ensure the integrity, reliability, and quality of the materials and products
being used.
B) Market Key Trends:
One key trend observed in the non-destructive testing market is the increasing
adoption of advanced technologies, such as robotics and artificial intelligence
(AI), for testing purposes. These technologies offer higher accuracy, speed,
and efficiency in detecting flaws or defects in materials and products.
Robotics enable the inspection of complex structures and inaccessible areas,
ensuring thorough examination without causing any damage. AI-powered algorithms
and data analytics help in intelligent decision-making and predictive
maintenance, reducing the probability of failures and optimizing production
processes. This trend is driven by the growing demand for precision and quality
control in various industries, further propelling the growth of the
non-destructive testing market.
Segment Analysis:
The non-destructive testing market can be segmented based on the type of
testing method, industry vertical, and geography.
In terms of the testing method, the market can be divided into visual testing,
ultrasonic testing, magnetic particle testing, liquid penetrant testing,
radiographic testing, eddy current testing, and others. Among these, ultrasonic
testing is expected to dominate the market. Ultrasonic testing is widely used
in various industries such as manufacturing, aerospace, automotive, and oil
& gas. It provides accurate results and is capable of detecting even minute
defects, which makes it a preferred choice for non-destructive testing.
Additionally, advancements in ultrasonic testing technologies, such as phased
array ultrasonics, have further enhanced its capabilities, thereby driving its
dominance in the market.
Key Takeaways:
The global Non-Destructive
Testing Market Share is expected to witness high growth, exhibiting a CAGR of 12.0% over the forecast period
from 2022 to 2030. This growth can be attributed to several factors. Firstly,
the increasing need for quality control and safety measures in various
industries such as manufacturing, aerospace, and automotive is driving the
demand for non-destructive testing. Stringent government regulations and
standards regarding product quality and safety are further propelling the
market growth. Additionally, advancements in testing technologies and the
development of portable and user-friendly testing equipment are also
contributing to market expansion.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the non-destructive testing market.
The region has a strong presence of key market players, advanced
infrastructure, and a high adoption rate of advanced testing technologies. The
rising focus on infrastructure development, particularly in the oil & gas,
construction, and power generation sectors, is driving the demand for
non-destructive testing in this region. Furthermore, the presence of stringent
regulations and standards regarding product quality and safety is also boosting
the market growth in North America.
Key players operating in the non-destructive testing market include
Tech4Imaging LLC, SGS SA, ROSEN Group, Acuren Group Inc., Olympus Corporation,
Mistras Group Inc., Intertek Group PLC, Applus Services SA, Infrastructure
Preservation Corporation, Bureau Veritas SA, and FLIR Systems Inc. These key
players are focusing on product innovations, strategic partnerships, and
mergers and acquisitions to strengthen their market position and expand their
customer base. They are also investing in research and development activities
to develop advanced testing technologies and equipment to meet the evolving
industry requirements.
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