Non-Destructive Testing and Inspection plays a vital role in the preventive and predictive maintenance of stationary machinery and auxiliary systems and is a crucial procedure in a ramification of potentially catastrophic failure. It helps in identifying the potential threats that can result in machine breakdown and thus helps in minimizing the operational and maintenance cost. The advancement in technology is fueling the adoption of high accuracy test and inspection equipment such as digital and portable radiograms, thus improving the accuracy in identifying and eliminating the potential faults persistent in a machine or equipment. The global non-destructive testing and inspection market is anticipated to expand at a steady CAGR close to 8.0% during the forecast period 2020-2030.
The expansion of aerospace manufacturing and testing facilities across North America, Europe, and the Asia Pacific is anticipated to be the most crucial parameter in defining the growth of the non-destructive testing and inspection market in the coming years. The Asia Pacific is anticipated to be the major growth contributor owing to expanding manufacturing, construction, and aerospace & defense industries across the major economies.
Major players operating in the global non-destructive testing and inspection market include Acuren Inspection, Inc., Applus Services, S.A., Bureau Veritas S.A., Fujifilm Corporation, GE Measurement, and Control, Intertek Group Plc, Magnaflux Corp., MISTRAS Group, Nikon Metrology Inc., Olympus Corporation, SGS Group, TEAM Inc., TÜV Rheinland AG, YXLON International GmbH (COMET Group).
The report titled “Non-Destructive Testing and Inspection Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030”, wherein 2020 is a historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide a company overview and market outlook for leading players in the global non-destructive testing and inspection market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the major players operating in the market arena. For instance, Intertek Group Plc reported revenues of US$ 3,659.6 Million in 2018 and the segment and geographic analysis of the company indicates that Products business segment of the company dominated revenue in 2018 with China and the United States being the major revenue-generating geography.
The global non-destructive testing and inspection market is segmented based on technology, method, service, industry vertical, and geography. Based on technology, the global non-destructive testing and inspection market is segmented into visual testing, magnetic particle testing, liquid penetrant testing, eddy-current testing, ultrasonic testing, radiographic testing, acoustic emission testing, and other. Based on the method, the global non-destructive testing and inspection market is segmented into visual inspection, surface inspection, volumetric inspection, and others. Based on component the market is segmented into equipment and services. The services are further sub-segmented into inspection services, equipment rental services, training services, calibration services, and others. Based on industry vertical, the global non-destructive testing and inspection market is segmented into automotive, oil & gas, aerospace & defense, manufacturing, energy & utility, and others. Based on geography, the global non-destructive testing and inspection market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Additionally, the study provides an in-depth analysis of individual companies considered under the scope of study with a focus on all operating business segments and would identify the segment of the company focusing on Non-Destructive Testing and Inspection. Further, the market share of prominent companies in the global Non-Destructive Testing and Inspection market would also be estimated. For instance, Intertek Group Plc operates through three business divisions namely Products, Trade, and Resources. Non-Destructive Testing and Inspections are delivered under the Products business division of the company with a revenue contribution of US$ 2,195.3 Million in 2018.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the Non-Destructive Testing and Inspection companies. Furthermore, the global Non-Destructive Testing and Inspection market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. The product portfolio would focus on all the products under the Non-Destructive Testing and Inspection market business segment of the company. Similarly, the recent development section would focus on the latest developments of a company such as strategic alliances and partnerships, merger and acquisition, a new product launched and geographic expansion in the global Non-Destructive Testing and Inspection market arena. Key players in the global non-destructive testing and inspection market are strongly focusing on developing advanced equipment and service delivery models with optimal safety and operations to cater to the rising demand from the global market.
InsightSLICE adopts a research methodology which is highly meticulous and comprehensive, yielding accurate research results. Our research methodology utilizes data triangulation model which helps in the precise collection and validation of information. Our set processes for problem solving and paid primary tools guarantee that any client requirement is met with utmost diligence and accuracy. Some of the primary components that are consequential to our research approach are:
Secondary Research or Desk Research
Distinctive Data Model
Secondary Sources include but are not limited to:
Past Published Research
Historical Data and Information
Primary Sources include but are not limited to:
InsightSLICE also leverages three types of data triangulation approaches as follows:
Data Source Triangulation
Extracting data and validation from multiple type of secondary and primary sources
Combining various methodologies to validate data inputs
Applying different theories to check credibility of data sets
Key Non-Destructive Testing and Inspection market players are Acuren Inspection, Inc., Applus Services, S.A., Bureau Veritas S.A., Fujifilm Corporation, GE Measurement, and Control, Intertek Group Plc and others.