Industry Background:
Non-destructive testing and inspection is the process of inspecting, testing, or evaluating materials, components or assemblies for discontinuities, or differences in characteristics without destroying the serviceability of the part or system. It is generally used to determine the physical properties of materials such as impact resistance, ductility, yield and ultimate tensile strength, fracture toughness and fatigue strength.
According to AMA Research, the market for Non-Destructive Testing and Inspection is expected to register a CAGR of 7.5% during the forecast period to 2027. This growth is primarily driven by Stringent Government Regulations Regarding Public Safety and Product Quality
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Machinery & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Applied Inspection Ltd (United Kingdom), Sonatest (United Kingdom), Cygnus Instruments Ltd. (United Kingdom), Nikon Metrology (Belgium), Ashtead Technology (Scotland), YXLON International (Germany), General Electric (United States), Olympus Corporation (Japan), MISTRAS Group (United States), Zetec, Inc. (United States), T.D. Williamson Inc. (United States) and Bosello High Technology srl (Italy), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In June 2020, Yxlon International, a company of the Swiss Comet Group and designer and producer of radioscopic and CT inspection systems for a variety of applications and fields, has released its new universal X-ray and CT system for non-destructive testing.The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations.
Non-Destructive Testing and Inspection Market Dynamics:
Attributes | Details |
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Growth Drivers | - Stringent Government Regulations Regarding Public Safety and Product Quality
- Continuous Advances in Electronics, Automation, and Robotics
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Influencing Trends | - Increased Adoption of IoT Devices
- Rising Need to Assess Health of Aging Assets
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Restraints | - Dearth of Skilled and Qualified Personnel for Inspection Services
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Road Blocks / Challenges | - Evident Reluctance to Adopt New NDT Techniques
- Increased Complexity of Machines and Structures
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Gaps & Opportunities | - Large-Scale Infrastructural Developments in APAC, Europe, and Latin America
- Growing Demand for NDT Inspection Services From Power Generation Industry
- Technological Advancements Creating New Application Areas for NDT Equipment
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Non-Destructive Testing and Inspection Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Non-Destructive Testing and Inspection Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Non-Destructive Testing and Inspection players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Non-Destructive Testing and Inspection Study Sheds Light on
The Non-Destructive Testing and Inspection Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Non-Destructive Testing and Inspection industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Non-Destructive Testing and Inspection industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.