The global non-destructive testing service market size is expected to exhibit 8% CAGR from 2017 to 2023, according to the latest report by Market Research Future (MRFR). MRFR’s report on the non-destructive testing service market comprises growth drivers, challenges, and trends on the industry for the forecast period (2020-2027). The COVID-19 pandemic and its implications are explored in depth in the market. Non-destructive testing (NDT) services are used by organizations for testing the limits of products.
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Market Scope
The global Non-destructive Testing Service Market is driven by increase in manufacturing activities in developed and developing countries. Development of NDT processes spurred by technological advances for detecting faults and improving safety can drive market demand. Awareness among manufacturers and reducing failures in the coming years will spur the need for NDT services.
Rapid pace of urbanization in China and India coupled with investments in manufacturing and construction activities can influence market demand. The execution of such projects and emphasis given to quality assurance will drive market growth. This is evident with oil & gas projects in Africa and the Middle East & Africa coupled with advances in CT scanners for detecting faults in machinery and equipment can bolster market demand effectively.
But high costs of non-destructive testing service solutions may hamper market growth.
COVID-19 Impact
The COVID-19 pandemic has brought the market to a standstill as the coronavirus has affected all facilities and operational units. Sales of equipment and services to aerospace and defense verticals will take a dive owing to reduction in crude oil prices, supply chain disruptions, and new oil & energy exploration projects. The glut in production and manufacturing activities as well as measures by nations to contain the virus will affect global market demand.
Segmentation
Manufacturing Vertical to Dominate Market Demand
The manufacturing vertical is predicted to dominate demand for NDT services owing to increase in manufacturing of goods and consumption per consumer rising over the years.
Ultrasonic Testing Method to Gain Renewed Demand
The ultrasonic testing method is expected to gain demand over the forecast period due to being able to detect defects and determine their severity. Advanced techniques such as guided-wave ultrasonic testing and ultrasonic immersion testing coupled with applications in the oil & gas sector can drive the segment growth. Ultrasonic detectors are easy to use and portable compared to other detection techniques.
Regional Analysis
North America to Lead in Global Non-destructive Testing Service Market
North America is predicted to lead in NDT services market owing to large number of NDT training institutes and large skilled workforce. Power generation using shale oil and prospects of NDT techniques to prevent failure of systems and equipment can drive regional market growth.
Competitive Analysis
Olympus Corporation (Japan), Bosello High Technology S.R.L. (Italy), Sonatest Ltd. (U.K), Nikon Metrology, Inc. (U.S.), GE Inspection Technologies (U.S.), Fujifilm Holdings Corporation (Japan), Ashtead Technology, Inc. (U.S.), Intertek Group PLC (U.K.), MISTRAS Group, Inc. (U.S.), and SGS S.A. (Switzerland) are key players in the global non-destructive testing service market. Mergers, acquisitions, and partnerships are to be witnessed in the market.
Industry News
The U.S. Defense Advanced Research Projects Agency (DARPA) has offered funding for a SBIR for the Extreme Photon Imaging Capability- Hard X-ray (EPIC-HXR) project. The success of perovskite and quantum dot materials can determine its application in non-destructive testing services.
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