Non-destructive Testing Market Sales And Industry Forecasts Till, 2022 - 2030.

The global non-destructive testing market size is anticipated to reach USD 34.1 billion by 2030, registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness significant growth over the forecast period. The growth is ascribed to the increasing manufacturing in the developing as well as developed nations.

Non-destructive Testing Market Segmentation

Grand View Research has segmented the global non-destructive testing market based on offering, test method, vertical, and region:

Based on the Offering Insights, the market is segmented into Services and Equipment.

• The services segment dominated the market and accounted for the largest revenue share of 75.2% in 2021 and is expected to remain dominant over the forecast period.
• The equipment segment is poised to witness steady growth during the forecast period. Advancements in technology leading to the availability of state-of-the-art variants are expected to contribute to the growth of this segment.

Based on the Test Methods Insights, the market is segmented into Traditional NDT Method and Digital/Advanced NDT Method.

• The traditional test method segment dominated the market and accounted for the largest revenue share of 80.5% in 2021.
• Digital/Advanced NDT Method is further segmented into Digital Radiography (DR), Phased Array Ultrasonic Testing (PAUT), Pulsed Eddy Current (PEC), Time-Of-Flight Diffraction (TOFD), Alternating Current Field Measurement (ACFM), Automated Ultrasonic Testing (AUT).
• The phased array ultrasonic testing (PAUT) segment dominated the market and accounted for the largest share of 21.0% in 2021. This growth is ascribed to the growing adoption of PAUT as compared to other digital NDT methods.

Based on the Vertical Insights, the market is segmented into Oil & Gas, Manufacturing, Aerospace and Defense, Construction, Automotive, Power Generation and Others.

• The manufacturing vertical segment dominated the non-destructive testing (NDT) market and accounted for the largest revenue share of 22.0% in 2021. The growth is attributed to the ever-increasing volume of manufacturing across the globe.
• The power generation segment comprises numerous industries such as power grids and hydroelectric power plants. The segment is expected to witness healthy growth over the forecast period with a CAGR of more than 8.0%.

Non-destructive TestingRegional Outlook

• North America
• Europe
• Asia Pacific
• LatinAmerica
• MEA

Key Companies Profile& Market Share Insights

Incumbents of the market remain keen on increasing their market share. As such, they undertake various initiatives and adopt different strategies, such as signing partnerships, making investments, engaging in mergers and acquisitions, launching new products and services, and quoting competitive prices.

Some prominent players in the Non-destructive Testing market include

• Ashtead Technology
• Eddyfi
• Fischer Technologies Inc
• General Electric
• Nikon Corporation
• Mistras Group
• Olympus Corporation
• Sonatest
• Yxlon International
• Zetec, Inc
• MME Group
• TWI Ltd.

Order a free sample PDF of the Non-destructive Testing Market Intelligence Study, published by Grand View Research.